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J.P. Morgan Private Equity’s net asset value per USD equity share reached USD1.29 at 30 September 2010, representing a 2.4 per cent increase for the month and a 0.8 per cent increase for the quarter.
JPEL’s share price ended the month at a discount of 14.7 per cent to the stated NAV versus an average trading discount of 41.7 per cent within the multi-manager peer group.
The NAV per share for the company’s 2013 and 2015 ZDP shares increased from 59.09p to 60.15p and from 55.33p to 56.50p, respectively, during the quarter, representing gains of 1.8 per cent and 2.1
Celtic Therapeutics, a successor firm to Celtic Pharma, and Resolvyx Pharmaceuticals have entered into an option agreement relating to Resolvyx’s RX-10045, a late-stage programme for the treatment of dry eye syndrome and other ophthalmic conditions.
In connection with the RX-10045 option agreement, Celtic Therapeutics purchased a note convertible into Resolvyx equity.
Under the terms of the option agreement, Celtic Therapeutics has an exclusive option to acquire and license rights to Resolvyx’s RX-10045, in all eye indications. RX-10045 is scheduled to enter a Phase III randomised, placebo-controlled, multi-centre study in 2011.
As part of the agreement, Celtic Therapeutics may also license
General Atlantic, a growth equity firm, has named J. Frank Brown, the dean of Insead, as a managing director of the firm.
Brown will complete his term at Insead in March 2011 and will join General Atlantic in June 2011.
William E. Ford, chief executive officer of General Atlantic, says: “We have known Frank for nearly three decades, initially as an adviser to General Atlantic and since then as a close friend of the firm. Along with his broad network of international business relationships, Frank brings a depth of business acumen, leadership skill and operating experience that will be
Ambit Capital has appointed Saurabh Mukherjea as head of equities at the managing director level, strengthening its institutional equities business.
Mukherjea will join Ambit after completing his gardening leave, which he is currently serving.
The equity business will now be headed by Mukherjea, leaving Andrew Holland to continue to focus on Ambit’s investment advisory business full time.
Mukherjea and Holland will report directly to Ashok Wadhwa (pictured).
Wadhwa says: "Under Andrew’s leadership, Ambit’s equities business has made a substantial mark in the competitive landscape in the last few years because of its focus on strong research and client satisfaction. Our
New hedge fund and securities regulation through measures such as the Dodd-Frank legislation in the US and the European Union’s Directive on Alternative Investment Fund Managers are indicative of a changed global order, according to the International Organisation of Securities Commissions.
Iosco’s new principles for securities regulation represent a paradigm shift for regulators and a marked change from the long-standing confidence in self-regulation, says the organisation’s deputy secretary-general, Tajinder Singh (pictured).
“Financial stability depends on prudential market regulation,” he told delegates at the recent Channel Islands Stock Exchange Summit conference in Jersey. “What is important is implementation and co-operation
Guernsey’s finance industry has significant opportunities to win business in India, according to Peter Niven, chief executive of Guernsey Finance, the promotional agency for the island’s finance industry.
Niven was speaking at the culmination of a week-long delegation to Delhi and Mumbai organised by Guernsey Finance and led by Carla McNulty Bauer (pictured with Sarvjit S Dhillon, group director at Bharti Enterprises), minister for the commerce and employment department within the Guernsey Government.
Guernsey opened an office in China nearly three years ago but this is the island’s first official delegation to India.
“There are plenty of opportunities and not
The total value of European private equity backed transactions reached EUR23.9bn in Q3 2010, close to the total value amassed in the entire first half of the year and the highest quarterly value figure recorded since the second quarter of 2008.
This latest quarterly value is more than 80 per cent of the total value of all deals recorded in 2009, according to the preliminary figures released in the Q3 2010 unquote Private Equity Barometer, published by unquote and sponsored by Candover, a European private equity house.
Despite the significant rise in value, deal volumes actually fell to their
Offers.com has closed a USD7m growth equity investment from Susquehanna Growth Equity.
The Austin-based savings resource specialises in the online coupons and deals segment.
The minority investment will help the company accelerate its growth and expansion plans.
Offers.com was launched in February 2009 with the goal of helping consumers find the right offers, coupon codes and online deals for their needs from online stores and companies.
Offers.com recently launched Offers.com Canada and Offers.com UK.
“Nothing is more frustrating to a consumer than trying to use out-of-date, inactive or useless coupons online, which is why we spend the time and money
Triangle Petroleum, an oil and gas exploration and production company with assets in North Dakota and Eastern Canada, has formed a joint venture with Oppenheimer Global Resource Private Equity Fund I and a related co-investment fund, each a New York based investment fund managed by an affiliate of Oppenheimer.
OGR has made a USD25m capital commitment to co-invest with Triangle in its future acquisition and development of assets in the North Dakota Bakken Shale play.
USD10m of OGR’s initial capital, which OGR has the right to increase up to USD19m, is allocated for leasehold acquisition with the remainder available for
The State Street Private Equity Index posted a 0.65 per cent return for the quarter ended 30 June 2010, 157 basis points lower than the first quarter of 2010 return and 483 basis points lower than the return recorded during the same period a year ago.
The second quarter of 2010 return for the European and rest of world regions were -3.14 per cent and 0.48 per cent, respectively, with both reflecting a significant decrease from prior quarter.
For the time period from third quarter 2009 to second quarter 2010, all private equity recorded a 19.2 per cent one-year end-to-end
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