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James Fenner has been named president and chief executive for GE Capital’s leveraged finance business, subject to regulatory approval.
Fenner will be responsible for leading and arranging mid market transactions and building close links with commercial partners such as Mubadala GE Capital and Ares Capital.
He replaces Thomas Greco, who has left to pursue opportunities outside of GE.
The position reports into Rich Laxer, EMEA president and chief executive for GE Capital.
“James is very highly-regarded in the financial industry, with over 20 years banking experience, and his leadership and customer focus will be invaluable as we continue to build
Low Carbon Accelerator, an AIM-listed venture capital fund focused on the low carbon sector, expects to announce a 15 to 20 per cent uplift in net asset value at the end of October due to strong sales figures from portfolio company Proven Energy.
UK-based Proven Energy is a manufacturer of sub-100kW turbines and has seen its sales increase by 200 per cent year-on-year since the introduction of the UK feed-in tariffs in April.
LCA holds a 75 per cent equity position in Proven, on a fully diluted basis, having invested GBP9.5m in the company since 2006. An unaudited valuation of
Travelex founder Lloyd Dorfman has funded the management buyout of Bridges Ventures’ majority stake in serviced offices business The Office Group in a deal worth GBP43.3m.
The Office, the concept for which was founded by Charlie Green and Olly Olsen with Bridges Ventures, is a provider of flexible office space with a portfolio of six sites in central London and one in Bristol, totalling 1,350 workstations.
Dorfman says: “This deal brings together two successful businesses that are well placed to expand into what is a growing market. With interests in this sector already I was looking to diversify and it
In the first of two articles, Grant Stein (pictured), global managing partner of international law firm Walkers, argues that contrary to popular stereotypes, the Cayman Islands are not only fully committed to tax transparency and information-sharing but are actively involved in the OECD’s decision-making process for shaping international standards in this area.
Demand for an increasingly open, accountable and transparent government and regulatory system is as strong in the Cayman Islands as it is in the US and other G-20 nations. Despite the dated stereotype clung to by critics, usually based on subjective and flawed information and/or methodology, Cayman has
Talk about the elephant in the room. The Alternative Investment Fund Managers directive surely has the largest ears and the longest trunk of the species.
Axa Private Equity has made an investment in JIT Solaire, a specialist player in photovoltaic energy.
Based in the Poitou-Charentes and Rhône-Alpes regions of France, the group installs turnkey electricity generating solar systems for individuals, companies and local authorities, with solutions designed to meet each client’s roofing specifications.
The EUR3m fundraising gives JIT the resources needed to maintain its growth and accelerate the development of its business of installing solar panels and running power plants for its own account.
Founding directors Jérôme Bailleul and Franck Braudel said: “We are delighted to have Axa Private Equity on board, helping us
Actis, the emerging markets private equity firm, has invested USD58m in Companhia Sulamericana de Distribuicao, the operator of Brazilian supermarket chains Sao Francisco and Cidade Cancao.
CSD is one of the three major supermarket retailers in Parana state, and is among the top 25 supermarket operators in Brazil.
The investment marks Actis’s first Brazilian investment to date.
With the new capital injection, CSD will implement an expansion plan based on the opening of new stores in the states of Parana, and Mato Grosso do Sul.
Actis will hold a significant minority stake, working in partnership with the founding families of
Nigel Strachan (pictured), head of business development at Kleinwort Benson’s corporate services business in Jersey and the new chairman of the Jersey Funds Association, sees new opportunities for mezzanine finance to pick up the slack where leverage from traditional sources is thin on the ground.
“Mezzanine finance is essentially a type of finance that provides a solution between bank debt and equity,” he says. “It is a solution that is a hybrid in that it is debt in nature, but it also in some instances has warrants attached to it, so there is an equity element.”
The economic crisis
Atlas Holdings has signed a definitive agreement with MeadWestvaco to purchase its network of media and entertainment packaging businesses, subject to certain closing conditions.
Atlas Holdings has signed a definitive agreement with MeadWestvaco to purchase its network of media and entertainment packaging businesses, subject to certain closing conditions.
Completion of the transaction is expected on 30 September 2010.
The businesses, which operate under the names AGI Media, AGI Amaray and AGI Polymatrix, specialise in packaging for Blu-ray discs, DVDs, music and video games and have approximately 1,450 employees.
Principal operations are in the US, UK, Austria, France, Ireland, Germany, Poland, The Netherlands
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