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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
Evolution One Fund, a ZAR700m clean technology private equity fund, has committed to invest up to ZAR146m (approximately USD20m) into Red Cap’s Kouga wind farm, located in the Kouga local municipality of the Eastern Cape Province in South Africa.
Red Cap’s Kouga wind farm is a 100 MW wind energy project, prioritised as a first phase build out of a larger pipeline of 300MWs.
Evolution One’s investment will contribute to cleaner energy generation in South Africa and create local jobs.
Christopher Clarke, principal and director of Inspired Evolution, says: “We identified Red Cap because of the pedigree of its
TLG Capital has invested in Iroko Financial Products, a UK based fixed income boutique focusing on the sub-Saharan African region.
Iroko’s structured transactions have totalled over USD1.3bn since 2005.
Among the transactions executed by the company since its inception in 2002 is a landmark USD200m corporate bond for Ghana Telecom, the first corporate bond issuance from Ghana.
Current shareholders in Iroko include the Dutch FMO, Liquid Africa and the company’s management team.
Companies that operate under the Iroko umbrella include Iroko Securities and Sphynx Capital Markets. Iroko Securities specialises in debt capital markets and treasury management services for clients in
Two thirds (64 per cent) of private equity investors expect to see activity levels increase in the UK media sector over the next 12 months, according to research from financial and business advisers Grant Thornton UK.
The report, Where is the smart money going in media?, which canvasses the views of private equity investors backing UK media companies, reveals a high level of optimism over expectations of overall private equity activity in the UK media sector.
Only ten per cent expect PE activity levels to fall over the next 12 months while 23 per cent expect levels to remain the
According to the Daily Telegraph, Close Brothers Group has hired Deloitte to assist in the disposal of its private banking, fund management and fund administration operations in Guernsey (pictured) and Jersey. Sources quoted by the newspaper suggest that the London-listed bank’s Channel Islands businesses may be worth up to GBP35m.
A spokesman for Close, which was founded in 1878, refused to confirm or deny the report, stating that the group “as a matter of course” never comments on market speculation.
If confirmed, the decision will follow the group’s announcement last month of the sale of its property fund management
Alternative asset manager The Carlyle Group has acquired a portfolio of six multi-channel retail businesses from Arcandor subsidiary Primondo Specialty Group, namely Versandhaus Walz, Planet Sports, Bon’A Parte, Elégance, Mirabeau and 50 per cent of Vertbaudet Germany.
Financial terms were not disclosed.
Gregor Boehm, managing director and co-head of Carlyle Europe, says: “The group has demonstrated very solid performance during the downturn and we are excited about the continued growth potential. Due to its multi-channel platform and strong niche positions in the highly resilient specialty home shopping sector, the group has strong long-term prospects. We look forward to working
European private equity firm Cinven has hired Thilo Sautter as a partner.
Sautter will join Cinven in 2011 from Investcorp, where he worked for over 13 years.
Prior to leaving the firm, he was the partner responsible for private equity investing in German speaking markets, a member of the investment committee and headed the business services sector team.
At Cinven, Sautter will jointly lead the team covering German speaking markets with Cinven partner Bruno Schick, who is head of the Frankfurt office.
During his time with Investcorp Sautter led a number of high profile investments including the acquisition
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