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Legal practice Norton Rose has advised UK private equity fund Impax Asset Management on the planned purchase of Epuron’s wind development and operating business in Germany and France.
Epuron is a subsidiary of German TecDax-listed solar system manufacturer Conergy.
The purchase agreement was signed on 9 December 2010. The financial details of the transaction have not been disclosed.
Impax Asset Management is an investment manager dedicated to the environmental sector, with a focus on alternative energy, water and waste. It will acquire the Conergy wind development activities based in Hamburg, all partnership shares of three operating wind farms in Eastern
Vietnam-focused fund manager Dragon Capital has exited three private equity holdings in 2010 worth USD60m.
In March, Dragon Capital sold its VP Bank stake at a 30 per cent premium to its carrying value. Dragon Capital invested in ten per cent of VP Bank in 1996.
A partial exit occurred in 2007 when bank valuations soared, and VP Bank shares hit 10x book. The balance of Dragon Capital’s stake was sold last March at a valuation of ca 2.5x book (versus the peer-group average of 1.2x). In total, the investment scored a 2.7x multiple and an IRR of 21 per
A private equity survey of general partners and limited partners by bfinance, a financial services consulting firm, shows a fall in expected internal rate of returns of five to ten per cent over the coming years.
Combined with expectations by over 81 per cent of limited partners of higher dispersion and significant increased volatility of private equity returns, 71 per cent of institutions surveyed plan to narrow existing general partner relationships and narrow the number of funds in their portfolios to avoid the expected compression of returns.
The survey shows that over 74 per cent of limited partners target net
TYRX, a company dedicated to the commercialisation of implantable medical devices designed to help reduce surgical-site infections associated with pacemakers and defibrillators, has raised USD20m in venture capital funding.
The funding was led by new investor HLM Venture Partners, along with previous investors Clarus Ventures and Pappas Ventures.
The financing round also included USD4m in debt financing from Comerica Bank.
In connection with the financing, Edward L. Cahill, managing partner at HLM Venture Partners, will join TYRX’s board of directors.
"This continued investment from Clarus and Pappas Ventures, along with participation from new TYRX investor HLM Venture Partners, is a
Matrix Private Equity Partners has invested in the GBP4m management buy-out of Faversham House Group.
Faversham is a multi-media business that publishes B2B magazines such as Utility Week, Europe’s largest environmental website www.edie.net and stages the UK’s no.1 environmental exhibition, SustainabilityLive!.
Matrix is investing GBP1.75m and will take a significant minority stake in the business. This is Matrix’s seventh investment in the media and publishing sector following its recent investment in recruitment business RDL.
Faversham employs over 100 people and is forecasting revenues of GBP10m in the current year.
Chris Price, investment manager of Matrix who led the
Butterfield Fulcrum, a fund administration company for the alternative investment industry, has appointed Edwin Parker as director of business development for the EMEA region.
Parker will start in February 2011 and be based in the London office, which has recently relocated to Mayfair.
He will be responsible for identifying and developing strategic partnerships to strengthen and expand Butterfield Fulcrum’s client base throughout Europe and its surrounding emerging markets.
Parker will work closely with Mark Boyes who joined Butterfield Fulcrum earlier this year as Director, EMEA business development.
Parker joins Butterfield Fulcrum from SS&C where he served as a business development
Baker Tilly Corporate Finance has provided financial advice to Cawood Scientific, the UK’s largest independent provider of analytical testing services to land based industries, which has secured GBP4m investment from NVM Private Equity.
Cawood Scientific operates with two analytical testing companies: Natural Resource Management, based in Berkshire, provides testing capabilities to customers in the agricultural, horticultural, amenity, contaminated land, environmental and waste industries; and Sciantec Analytical Services, based in North Yorkshire, provides analytical testing to a wide range of customers in the animal nutrition and animal health sectors.
The deal will support the company to take advantage of opportunities
Roark Capital Group, an Atlanta-based private equity firm, has acquired Atkins Nutritionals, a weight control and nutrition brand.
Atkins’ management team, led by chief executive Monty Sharma, will remain with the business and invested alongside Roark Capital in the transaction.
Terms of the transaction were not released.
The Atkins Nutritional Approach was popularly introduced in the 1960s. The company offers consumers its Atkins diet programme and a full suite of weight loss and weight management support tools online.
Atkins sells its products in the nutritional aisle at approximately 30,000 retail outlets, across the food, drug, and mass-merchant channel throughout the
Ben Edwards, Managing Partner at Syntaxis, outlines the reasons for the financing problems faced by European businesses, and looks at the alternatives.
While deal activity levels are picking-up across Europe, in Central and Eastern Europe, long-term debt and non-equity financing for strong businesses looking to grow is proving much harder to come by than in Western Europe.
This is the case for two key reasons:
Existing senior banks required repayment profiles which do not necessarily provide the requisite flexibility for growth-related capex, and when it is available, it is very expensive.
When there is term capital available, it is
Following approval of the Alternative Investment Fund Manager Directive by the European Parliament, the Isle of Man says it welcomes the final Directive and that work is under way to ensure it will meet key regulatory criteria.
The AIFM Directive was first introduced in response to calls for greater regulation of alternative investment fund managers.
Much uncertainty has surrounded the Directive as it has evolved over the past 18 months, but now that consensus has been reached the investment fund management community can prepare for its implementation in 2013.
The Directive has been welcomed by the Isle of Man’s
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