The Isle of Man is withdrawing the attribution regime for individuals (ARI) from 6 April 2012. The move comes hot on the heels of Jersey’s decision to maintain its zero-ten tax regime but to remove deemed distribution and attribution rules. In her budget speech on 15 February 2011, Treasury Minister Anne Craine MHK pointed out that the group set up by the European Union to monitor compliance with the Code of Conduct (Code Group) and the EU’s Economic and Financial Affairs Council (ECOFIN) had agreed in 2003 that zero-ten systems were not harmful. ‘The Isle of Man Government considers that

Funds advised by HIG European Capital Partners LLP have acquired Fibercore, Ltd, a UK based global market leader in the design and manufacture of specialty optical fibers, from Cisco. Founded in 1982 and based in Southampton, England, Fibercore provides a wide range of specialty optical fiber products to customers globally within the aerospace, defence and telecommunications industries. Fibercore has a strong specialist manufacturing heritage and has won four Queen’s Awards for Enterprise including Innovation, Sustainable Development and International Trade. Fibercore’s products are central to the navigation and stabilisation systems used on platforms as diverse as long-haul airliners, business jets, helicopters,

Ingenious Ventures, a division of Ingenious the UK based investment and advisory group, is launching the Vindemia wine fund, an EIS Fund that will drive returns for investors through investment in fine wines. Ingenious is targeting a GBP10 million fund size, providing an exciting and unique opportunity for investors to utilise the best elements of wine as an asset class whilst benefiting from the tax benefits of the Enterprise Investment Scheme. It will target returns of 10.8% p.a. (a gross equivalent return of 21.5% p.a.). Working with experienced partners in the wine industry, Ingenious will build a portfolio of companies

Lightyear Capital and the management of property specialist ING Clarion Partners, have reached agreement with ING Group to acquire the US-based real estate firm. Lightyear is a leading New York-based private equity firm focused on financial services investing. Founded in 1982, Clarion Partners has broad market reach in the Americas, with more than 250 employees in major markets throughout the US and a presence in Mexico and Brazil. With assets of more than USD22 billion, Clarion manages private equity real estate across a broad range of products and strategies for institutional and individual investors. Steve Furnary, Chairman & CEO of

Maven Capital Partners has been awarded the contract to manage Bluehone AiM VCT2 plc (Bluehone), which previously merged with Bluehone AiM VCT plc in July 2008. The appointment consolidates a notable few months for the Maven team, which has also recently announced its selection by the Scottish Investment Bank as manager to the Scottish Loan Fund, and in November 2010 was named Small Buyout House of the Year 2010 at the unquote British Private Equity awards.   Maven has entered into a minimum three year contract to manage Bluehone. Managing Partner Bill Nixon will take up the role as principal

HarbourVest Global Private Equity Limited’s estimated Economic Net Asset Value has risen to USD809.5 million or USD9.75 per share, as at 31 January 2011, a 1.0% increase from the 31 December 2010 estimated Economic NAV per share of USD9.65.   This change was driven by foreign currency movement (approximately USD0.05 per share); increases in value for privately-held companies as preliminary year-end 2010 results were received (USD0.05 per share); and increases in the value of publicly-traded holdings to 31 January (USD0.02 per share). The gains were partially offset by ongoing operating expenses (USD0.02 per share).  The value of the vast majority

Point Capital Partners and Forstmann & Co have signed a definitive agreement to form Point Capital – Forstmann & Co, LLC (PCF). The combined entity will leverage each firm’s existing personnel and assets in order to create a dynamic platform engaged in: liquid asset management, structured financial products, investment banking and brokerage, and private equity investments.   PCF’s merged capabilities will benefit entrepreneurs and small businesses through direct investment, and/or capital formation and advisory services. The joint venture company combines Point Capital’s existing alternative investment platform with Forstmann & Co’s industry experience and pre-existing investments in smaller, dynamic growth companies.