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Madison Williams, a capital markets and investment banking firm, has formed a placement and advisory group with fund placement veteran James J. McCarvill, Jr.
The group, called Madison Williams Private Capital Solutions, aims to raise capital for private equity, real estate and real asset funds as well as selected operating platforms and direct investment opportunities.
Bill Sprague, president and chief executive of Madison Williams, says: “We are very excited about partnering with Jim and his team. By working together, we will be the only comparable firm offering the breadth of fund placement services to leading institutional investors, as well direct
Rizvi Traverse Management, a private equity firm specialising in opportunistic investments, and Starwood Capital Group Global, a private investment firm focused on real estate and energy infrastructure, have led the recapitalisation of Key Air, a provider of aircraft management and executive charter services.
Under the terms of the transaction, Rizvi Traverse converted a portion of Key Air’s outstanding indebtedness, which it acquired from Key Air’s lenders in December 2009, into equity.
Starwood has acquired an approximately 50 per cent interest in the remaining debt and converted equity.
As part of the transaction, both Rizvi Traverse and Starwood have committed to
Okapi Partners, the proxy solicitation firm, has hired Geoff Sorbello as a managing director.
Sorbello joins Okapi Partners from ISS, a division of RiskMetrics Group which is now a subsidiary of MSCI.
While at ISS, Sorbello was responsible for providing governance services and advice, including M&A research, to the firm’s hedge fund clients. Sorbello worked closely with the firm’s proxy advisory services group, actively participating in dialogue regarding contentious mergers and acquisitions and proxy fights. Additionally, Sorbello managed relationships with many of the firm’s institutional investor clients.
Bruce H. Goldfarb (pictured), president and chief executive of Okapi Partners, says: "Geoff
Octopus Ventures, a division of Octopus Investments, has made an investment of GBP1.83m into Bowman Power, a developer of clean power generation technology designed to increase the performance of standard diesel and gas fuelled engines.
The deal with Bowman Power represents the 14th investment Octopus has concluded this year.
Based in Southampton, Bowman Power’s core product is a turbogenerator, which recovers waste heat from engines in order to both boost their power and efficiency, whilst reducing their emissions.
Bowman’s recent business wins include a significant contract to supply 2,000 production turbogenerators over four years to two German partners, Schnell
Black Diamond Capital Management, an alternative asset management firm, has appointed Philip Raygorodetsky as managing director.
Raygorodetsky is joining the firm immediately and will be based in Black Diamond’s Greenwich, Connecticut office.
Raygorodetsky joins Black Diamond’s controlled distressed/private equity team, where he will work alongside the current senior team, including Chris Boyle and Chris Parker, to oversee portfolio companies acquired on behalf of Black Diamond’s controlled distressed/private equity funds.
Raygorodetsky has over 13 years’ experience in the controlled distressed field. Most recently, he served as senior managing director in GSC Group’s equity and distressed debt group where he was responsible
GlobeOp Financial Services, a provider of business process outsourcing, financial technology services and analytics to hedge funds and other sectors of the financial services industry, saw its assets under administration increase by ten per cent in the first half of 2010 to USD120bn.
Assets under administration have increased by 43 per cent since 30 June 2009.
Revenues grew 13 per cent to USD89.4m versus USD79.2m in the first half of 2009.
GlobeOp’s adjusted operating profit rose by 60 per cent to USD25.4m at 30 June 2010.
The adjusted operating profit margin expanded to 28.4 per cent of revenues versus 20.0
In this article Elaine Gray (pictured), Partner in AO Hall – Legal Specialists, looks at a key opportunity offered by Guernsey’s new patent regime to international patent portfolios: the ditching of the domino effect and the potential ‘Bilski bonus’.
Across the world, countries offer different levels of legal protection for developments in technology. For example, software developers in the USA can often obtain patent protection for their new software, whereas such protection is unlikely to be available within the UK and Europe.
Guernsey is leading the way in developing a range of cutting-edge intellectual property (“IP”) legislation. Its latest offering will
Apex Fund Services, a fund administration business, has opened its Luxembourg office.
Apex will begin providing administration services from Europe’s largest fund domicile.
The Luxembourg office opens with ten Ucits and regulated SIF Sicav funds.
In addition to offering services for all types of public and private Luxembourg funds, the Luxembourg office has also been appointed as fund administrator for three fund platforms. These are:
1. Luxembourg Fund Partners Platform for the re-domiciliation of offshore funds, alternative investment fund manager activities and the set-up of non-Ucits vehicles;
2. Amiri Shariah Equities Platform, a plug and play solution for establishing a Luxembourg Shariah
GTCR, a US-based private equity firm, has entered into a partnership with Dale Wolf to form Jessamine Healthcare.
The new company, headquartered in Maryland, will focus on acquiring companies in the healthcare payer and outsourced payer services industries.
Wolf (pictured), who will serve as Jessamine’s chief executive officer, is a 34-year industry veteran who most recently served for 12 years as a senior executive of Coventry Health Care, a national managed healthcare company.
Prior to serving as chief executive, Wolf served as Coventry’s chief financial officer, where in addition to managing the company’s finance functions, he was responsible for underwriting
Accedian Networks, a provider of solutions for carrier ethernet and IP networks, has secured USD19.5m in a round of financing led by Summit Partners, a growth equity firm with offices in Boston, Palo Alto and London.
Rho Ventures and Skypoint Capital, existing investors in Accedian, also participated in the round.
The funds raised will primarily be used to accelerate Accedian’s commercial efforts and support its market share expansion.
“The rapid increase of mobile device usage and network traffic has left carriers struggling to meet consumer demand and service level agreements, with the backhaul function representing a notable bottleneck on
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