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Deal activity in the financial services sector is showing signs of recovery as bank restructuring continues to accelerate and private equity firms start to play a bigger role in the sector again for the first time since the economic crisis.
According to the forthcoming European Financial Services M&A Insight report due to be published by PricewaterhouseCoopers, bank restructuring remains the central driver of financial services deal activity, accounting for EUR13bn of deals in the third quarter, up from EUR6bn in the previous quarter.
This increase in activity aided an overall surge in deal values across the sector to EUR17bn in
Richard Lichter, managing partner at Newbury Partners, will join Golden Networking’s second Private Equity Leaders Forum on 9 December in New York City.
The forum will bring together individual and institutional investors, private equity portfolio managers and executives, investments bankers, advisers and consultants from around the world.
Lichter is responsible for managing secondary investment activity. Lichter has been a senior investment professional in nine secondary funds and has been responsible for over 100 secondary transactions.
Prior to founding Newbury, Lichter was managing director and head of secondary investments at Auda Private Equity, where he led the sourcing and investment of
Funds advised by Apax Partners have agreed to sell their majority stake in Ifco Systems to the Australian logistics company Brambles for EUR13.50 per share.
Apax acquired the stake in Ifco Systems in November 2003 through the purchase of shares listed on the Prime Standard of the Frankfurt Stock Exchange and announced a voluntary public offer to the remaining free float shareholders in early 2004 for EUR2.75 per share.
Ifco Systems is a business service provider for reusable packaging containers and pallet management services. The Ifco products replace the traditional cardboard and wood containers that are used to transport fruit
Law firm Walkers says the confirmation of the final terms of the Alternative Investment Fund Managers Directive and the removal of uncertainty for non-European Union fund managers marketing non-EU funds in the EU is a very positive development for the investment funds industry in the Cayman Islands, British Virgin Islands and Jersey.
The final terms of the Directive, which were approved by the European Parliament on 11 November, allow for the distribution of non-EU funds to professional investors in the EU through both a private placement regime and a passport system.
The private placement regime, which has been the traditional
Olympus Partners has sold Ann’s House of Nuts, a manufacturer of private label and branded snack nut and trail mix products.
Olympus has owned Ann’s since July 2008.
Rob Morris of Olympus Partners says: “We are very pleased with this outcome. The Ann’s management team has done an extraordinary job in executing on the growth opportunities we saw in the healthy snack category.”
Founded in 1988, Olympus Partners is a Connecticut-based private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion.
Olympus manages in excess of USD3bn on behalf of
Citi’s Global Transaction Services has expanded its private equity and real estate services capabilities for investment managers and investors based in Europe, Middle East and Africa.
Citi has appointed Kamran Anwar as product head for the region.
Citi has also established a client service team in Dublin as part of the broader effort to service private equity clients across the region.
"With Kamran joining our team, we have true leadership for our Private Equity Services business in the region,” says Joe Patellaro, global head of private equity services, Citi. “Kamran’s broad exposure throughout Citi and his experience with several markets,
Seven funds of Chinese and foreign venture capital and private equity institutions in China raised a total of USD320m in October that can be invested into the Chinese mainland, according to investment information provider Zero2IPO.
Among them, six RMB funds raised capital worth USD202m and one US-dollar fund raised USD100m in the month.
Meanwhile, ten funds were newly established by Chinese and foreign venture capital and private equity institutions in October, with plans to raise capital of USD720m.
China’s venture capital and private equity markets reported 29 investments in October, mainly in the fields of internet, retail, clean technology, and
American Capital, a private equity firm and asset manager, has given notice today to the holders of its secured debt due in 2013 that it will voluntarily prepay USD107m of the debt on 29 November 2010.
With this prepayment, the amount outstanding under the secured debt will be less than USD1.0bn, causing the interest rate on the remaining debt to decline to the lowest level under the governing debt agreements.
The company’s fixed rate notes, representing 83 per cent of the remaining secured debt, will bear interest at an annual rate of 7.96 per cent and its secured loans and
Actis, an emerging markets private equity firm, has invested USD53m in Gtex, a cleaning products company based in Brazil whose stable of brands include, Urca, UFE and Amazon.
Following this investment, Actis will initiate a growth plan for Gtex in the Brazilian market to include new product lines, geographical expansion and acquisitions.
Gtex holds a large portfolio of cleaning products, with a strong presence in segments including laundry soap, fabric softeners, disinfectants, bar soaps, multi-use cleaners and steel wool. Its washing powder Amazon H20, is one of the first eco-friendly brands in Brazil.
Gtex has over 1,000 employees
Red Fort Capital and Parsvnath Developers have launched a five million square foot residential and mixed-use project in the heart of New Delhi.
Located on a 38-acre parcel convenient to the Connaught Place central business district, the project is New Delhi’s largest integrated mixed-use project.
The project was secured from India’s Rail Land Development Authority for a consideration of USD360m.
The marquee project offers home buyers over three million square feet of residential design, luxurious appointments, green space and a prime New Delhi address. In addition, over 500,000 square feet of mixed-use space – including retail, office, hotel and
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