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Spending on healthcare among the OECD countries and BRIC nations of Brazil, Russia, India and China will grow by 51 per cent between 2010 and 2020, amounting to a cumulative total of more than USD71trn, according to estimates from PricewaterhouseCoopers’ Health Research Institute.
Health spending in these areas is rising faster than gross domestic product, magnifying gaps in budget deficits and spurring governments to look to the private sector for ways to get a better value for taxpayers’ money.
One trend that is emerging globally is the use of public-private partnerships to finance and manage health infrastructure and delivery and,
Guernsey has been selected as the jurisdiction of choice for the establishment of a large closed-ended investment fund listed on the London Stock Exchange.
John Laing Infrastructure Fund, advised by Mourant Ozannes and administered by Heritage International Fund Managers, was admitted to the official list of the Financial Services Authority and to trading on the London Stock Exchange’s main market for listed securities on 29 November.
The fund, which raised GBP270m, was the second largest investment fund launched on the LSE this year, second only to Anthony Bolton’s Fidelity Special Situations China Fund, and is the largest Guernsey LSE
Christopher Spiegleman, former director of tax at J.H. Whitney, has joined the Metro New York alternative investment funds practice at WTAS as a managing director in the Greenwich office.
Spiegelman brings a strong background in multiple industries and areas of taxation including investment partnerships, alternative investments, private equity, hedge and debt funds.
At Whitney, Spiegelman addressed tax planning and structuring issues at the investor level, fund level, portfolio investment level and fund manager level. In addition, he worked closely with the principals of the firm to achieve wealth preservation including estate and insurance planning.
"Chris’ skill set is an excellent
Vision Opportunity China Fund, a closed-ended fund traded on AIM that invests in companies with operations principally within Greater China, has reported an increase in net asset value per share of 0.48 per cent to USD2.10 for the year ended 30 September 2010.
Inclusive of the capital return in May, the share price total return over the 12 month period ended 30 September 2010 was 37.2 per cent.
Vision adopted a policy to return between 20 per cent and 50 per cent of relevant net realised gains to shareholders each year.
An initial return of capital of USD0.05 per share,
Africa Renewables, the newly-formed biomass producer and exporter, has entered into a long-term commercial agreement with Ghana Rubber Estates, a subsidiary of SIFCA, an African agribusiness group.
AfriRen’s partnership is the first between a London-based biomass producer and exporter and an African agro-industrial company and will see USD16m worth of initial investment.
AfriRen has also partnered with Throgmorton UK, the financial and administrative outsourcing firm, which helped structure the new company in the UK. Throgmorton will assist in implementing financial and administrative processes for AfriRen’s UK head office operations.
AfriRen, which aims to become the biggest biomass producer in
Appleby Authorised Representative, an affiliate of Appleby Corporate Services (BVI), has been certified by the BVI Financial Services Commission to act as an authorised representative under the Securities and Investment Business Act 2010.
Under SIBA, a licensee (unless it has a significant presence in the British Virgin Islands) and a recognised or registered investment fund is required to appoint and at all times have an authorised representative in the BVI.
The main function of an authorised representative is to act as an intermediary in the BVI between the licensee or investment fund and Commission.
The authorised representative is also required
Hogan Lovells has acted as acquisition counsel to Survitec Group, a provider of safety and survival equipment, on the leveraged buyout of Revere Commercial Marine Business from Revere Supply to expand its presence in the US.
Survitec was acquired by private equity firm Warburg Pincus earlier this year.
The acquisition of Revere is designed to strengthen Survitec’s position in the marine, defence and aerospace safety markets.
Alan Greenough, co-head of private equity at Hogan Lovells, says: “We are delighted to have acted for the Survitec Group on this deal, which demonstrates private equity’s ability to support the growth of
KKR, TPG, Government of Singapore Investment Corporation and The Great Eastern Life Assurance Company have received all required regulatory approvals for the purchase of Morgan Stanley’s stake in China International Capital Corporation.
Li Jiange, chairman of CICC, says: "This year is CICC’s 15th anniversary. The change in our shareholding will have a very positive strategic impact on CICC and benefit its long-term development. We introduced new shareholders while also receiving additional investment from GIC, our long-time existing shareholder. Both demonstrate the investors’ recognition of CICC’s achievements in the past 15 years and full confidence in CICC’s long term growth prospects.
Infinity Group, a specialist in cross border China, RMB and dollar private equity funds, has led a USD14.3m investment in THT Heat Transfer Technology at a pre-money valuation of USD51.2m (USD3.20 per share), with an investment of USD9.0m.
MC Capital, Zhejiang Jinqiao and other investors also participated in the securities purchase agreement, which THT entered into on 2 November 2010.
Headquartered in Jilin Province, China, THT designs, manufactures and sells plate heat exchangers, shell-and-tube heat exchangers, heat exchanger units and other heat exchanger products. THT’s products focus on energy conservation, carbon emission reduction and other environmentally friendly applications.
THT has
Law firm Speechly Bircham has advised on the launch of a new private equity backed PR consultancy, Stockwell Group.
Speechlys worked with Iceni Capital, an investor in UK business service companies, and key communications industry players.
The new firm brings together Philip Gawith, ex chief executive of Maitland, Tim Burt, partner at Brunswick, and Nick Boakes, ex head of comms at Friends Provident.
Julian Hanson-Smith of Iceni Capital will chair Stockwell.
Stockwell will focus on strategic corporate communications and reputation management in the communications environment.
Hanson-Smith says: “Reputation risk has clearly moved up the boardroom agenda in recent years.
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