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Susan Clark has joined Heritage International Fund Managers as head of fund administration, responsible for the delivery of the company’s fund administration services as well as coordinating growth overseas.
Clark has nearly 30 years’ experience working in the funds industry, most recently as head of funds services and executive director for fund administration at BNP Paribas Securities Services in Jersey where she worked for 16 years throughout various acquisitions.
Clark has held a number of positions on various trade bodies including a period as vice-chairman of the Jersey Funds Association. A Chartered Fellow of the Chartered Institute for Securities &
Arx Equity Partners, the Central and Eastern European focused private equity investment firm, has joined current owner Benson Oak Capital as investor in the Bochemie Group, a producer of household care products and a manufacturer of specialty chemicals.
Arx will take a minority stake in the group.
The investment by Arx is intended to support and facilitate Bochemie’s strategy to continue to deepen and widen its business activities via acquisitions, in particular in the Central and Southeastern European household care sector, by bolstering available financial resources.
“We gladly welcome an investor with a proven track record and intimate knowledge of
Abraham Merchant and Kenneth Kuhn, managing directors of Global Capital Investments, have launched the Iraq Fund.
The fund will invest primarily in listed equities of the Iraq Stock Exchange and up to 20 per cent of its assets in private, less liquid, early-stage investment opportunities that focus on Iraq’s infrastructure and natural resources.
Merchant and Kuhn say recent trends in Iraq make the petroleum-rich country a compelling investment opportunity.
“As Iraq’s economy transitions, it is in the process of adopting legal and regulatory reforms that will make its financial markets more attractive to outside investors,” says Merchant. “Interest rates have
Executives are increasingly more optimistic about deal flow in Q4 2010, according to polling data commissioned by Merrill DataSite and gathered by peHUB.com.
The data revealed that almost half (48 per cent) of those polled believe, as it relates to private equity transactions, that there will be an uptick of ten per cent to 50 per cent in deal flow compared to Q4 2009.
Moreover, 21 per cent of those polled think that deal flow will increase up to ten per cent in Q4 2010 versus Q4 2009.
"The results bolster what Merrill DataSite has experienced firsthand in its VDR
The UK asset management industry needs to considerably ramp up its plans for responding to the Alternative Investment Fund Managers Directive as only two per cent of the industry currently has a plan in place that is being implemented.
According to a recent poll by PricewaterhouseCoopers of 186 senior industry figures from the hedge fund, private equity and real estate sectors, only 16 per cent have set up a dedicated working group to consider the implications and formulate how they should respond.
The poll also revealed that 41 per cent of respondents expect the AIFMD to result in increased management
Private equity firm CVC Capital Partners has appointed Chan Tze Ching, Ignatius as senior adviser.
Chan will join CVC’s global financial institutions advisory board to support CVC’s activities in the financial services sector in Asia.
Chan was previously head of corporate and investment banking/senior country corporate officer for Greater China at Citigroup and deputy chief executive at Bank of China (Hong Kong).
Chan has over 30 years of experience in the banking industry in Asia, which includes senior executive positions in Hong Kong, Taiwan, and Japan during his career at Citigroup.
He currently serves as senior adviser to the
Ross Marshall, chief executive of UK mid-market private equity firm Dunedin, says the Chancellor’s economic recovery plan outlines that the UK has scored a welcome double boost from strong economic recovery and a credit rating upgrade.
As the economy slowly gathers momentum, UK businesses of all sizes will once again return to a focus on growth.
Marshall says increased market confidence means that deal flow will continue to pick up in 2011 and because the banks are still cautious about lending, a greater number of UK SME’s will look to private equity to bridge the funding gap.
The private equity
Yorkville Advisors, the US-based alternative investment manager, has entered into a GBP15m standby equity distribution agreement on behalf of one of its funds with AIM listed San Leon Energy.
San Leon is an international group of companies focused on the exploration and production of oil and gas projects in Poland, Ireland, Italy, Morocco, Netherlands and North America.
The transaction also included a SEDA-backed promissory note for the amount of GBP2.2m. The deal was advised out of London.
San Leon Energy entered into the SEDA as a means of raising additional capital when required, to assist its company strategy to
GMT Communications Partners, a private equity investor focused on the communications sector in Europe, has appointed Bernard Gray to the GMT Industry Council, a network of media industry experts who provide market perspective on the communications industry.
Gray was recently appointed chairman of Magicalia, the digital cross media publisher and platform provider, and Group GTI, a graduate recruitment business.
He was previously chairman of TSL Education, the educational publisher.
Prior to taking up the appointment at TSL in 2005, Gray was for five years chief executive of CMP Information, the UK media arm of United Business Media. Gray was also
Danville Partners has acquired Multi-Flex, a Florida-based manufacturer of modular extrusion and stainless steel conveyor systems, alpine accumulators, side gripper elevators, lowerators and product inverters.
In addition, the company sells automation components for conveyor and pallet transfer systems.
Multi-Flex is an add-on acquisition to complement Danville Automation Holdings’ other companies: Simplimatic Automation, which provides conveyors and high-speed puck-handling automation equipment; and Advantage Puck Technologies, which manufactures puck-style product carriers used to maximise efficiency in packaging and producing personal-care product lines.
"Multi-Flex’s outstanding product line and customer base will offer exceptional opportunities for growth and be a robust complement to Danville’s
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