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Suez Environnement is launching Blue Orange, an investment fund to accompany the commercial and industrial development of fledgling firms developing technologies in the environmental services sector, specifically water and waste management.
Jean-Louis Chaussade, Suez Environnement’s chief executive officer, says: "With this innovation investment fund, Suez Environnement is taking up interests in the capital of start-ups with the ultimate goal of accelerating the concrete implementation of innovative solutions and the release of new offers for all our customers on our markets. Suez Environnement’s history has already been marked by several decisive innovations. By investing in these start-ups, we are going to
Burford Capital has raised USD175m (GBP110m) to create the world’s largest dispute financier.
The Guernsey closed-ended investment company is publicly traded on the London Stock Exchange’s Alternative Investment Market following from its initial public offering in October 2009.
The company has now announced a placing of approximately USD175m (GBP110m), consisting of 100 million placing shares at 110 pence per share.
A company statement said the placing will allow Burford Capital to continue its investment programme and solidify its position as a market leader in commercial dispute financing.
The completion of the placing is subject to shareholder approval and the admission
The advisers to Polish businessman Zygmunt Solorz-Zak are talking to private equity firms over the possibility of a joint bid for telecommunications group Polkomtel worth some EUR4bn (USD5.3bn).
According to the report by Reuters, Polkomtel shareholders – Polish metals miner KGHM Polska Miedz, crude oil refiner Polski Koncern Naftowy Orlen and power company PGE Polska Grupa Energetyczna with a combined 75 per cent, and Vodafone owning the other 25 per cent – are all preparing to sell their stakes in the company.
Solorz-Zak refused to comment on the information, when contacted by Reuters.
The value of investment fund business in Guernsey grew by GBP18.9bn (8.4 per cent) during the third quarter of this year.
The increase means that there have now been five consecutive quarters of growth and it has taken the net asset value of funds under management and administration in the island to a new record high of GBP243.1bn at the end of September 2010.
This is an increase of GBP61.6bn (33.9 per cent) on the same time in 2009.
Peter Niven, chief executive of Guernsey Finance, the promotional agency for the island’s finance industry, says: “I am extremely pleased to
Actis, an emerging markets private equity investor, has acquired a minority stake in XP Investimentos, Brazil’s largest independent brokerage firm, through a capital injection of USD58m.
Actis will work with XP to prepare it for an IPO. The transaction is subject to approval by the Brazilian Central Bank.
XP Investimentos has the largest capital markets educational programme in Brazil. More than 300,000 people have been trained by XP in topics ranging from investment basics to advanced portfolio management strategies.
This is the third investment by Actis in Brazil in the last three months. Actis invested USD58m in Brazilian
Funds advised by Apax Partners have agreed to acquire a majority interest in Advantage Sales & Marketing, a North American sales and marketing agency, from J.W. Childs Associates and BAML Capital Partners (Merrill Lynch Global Private Equity).
Terms of the transaction were not disclosed.
ASM, which provides outsourced sales, marketing and merchandising services to manufacturers, suppliers and producers of consumer packaged goods, has 2010 revenues of approximately USD1bn.
Upon completion of the transaction, ASM’s senior leadership team will continue to manage the company’s day-to-day operations.
"ASM has established an impressive track record of generating value for its clients and customers
Walkers, the legal and management services provider, says it will be creating a significant number of jobs in Ireland as the firm further expands its Dublin office which opened in October.
Approximately 25 new positions will be created by the end of 2010, rising to around 50 new jobs by the end of 2011.
"We are committed to developing a strong presence in Dublin with experienced top tier Irish lawyers and professionals, providing them with the opportunity to grow the Irish corporate business through our global network," says Vicki Hazelden, managing partner of Walkers’ Dublin office.
"We are excited about
Aurora Russia, the AIM-listed investment vehicle established to make equity investments in small and mid-sized private companies in Russia, says growth in the Russian economy has resulted in improved performance in the company’s investee companies.
The board currently expects OSG, Unistream and Superstroy to be profitable in the year ending 31 December 2010.
OSG remains the largest records management company in Russia, Ukraine and Kazakhstan. OSG had a record month in September in terms of revenues which were GBP1.2m, up 40 per cent from the prior year period and representing nine per cent growth over the previous month.
Unistream, an
Former Irish Prime Minister John Bruton, who now holds the position of president of IFSC Ireland, has told London asset managers that the Irish funds industry is enjoying unprecedented growth and is "the silver lining" in the Irish economy.
Speaking in London to some 300 fund managers Bruton highlighted the separation between the international funds industry and domestic economic issues, noting that with no impact or domestic exposure the international industry is benefiting from the reduced business costs and the positive effect is being witnessed in the industry’s record growth.
The former EU Ambassador to the US said the Irish
Fund administration company Quintillion has completed its SAS 70 Type II independent service auditor’s report.
The certification was completed by accounting and audit firm Deloitte and Touche and provides verification of independent review and rigorous testing of Quintillion’s internal control environment.
The report includes testing on a broad range of internal controls including client boarding, transaction processing, cash and position reconciliations, valuations, NAV calculation, investor services, reporting, performance fee processing, data access, systems security, IT change management and data backup.
SAS 70 allows service providers to disclose their control activities and processes to their customers and their customer’s auditors
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