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Almost two years since the near collapse of the global financial markets, President Barack Obama has signed into law the most sweeping regulatory reform legislation since the great depression – the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The most significant effect on investment advisers, who have business in the US or (in certain cases) have even tangential relationships with US investors, is the requirement to register with the US Securities and Exchange Commission.
“The expanded authority of the SEC will have a far reaching effect on the alternative investment industry, both in the US and abroad. Not only
Societe Generale Securities Services and Credit Suisse (Deutschland) have signed an agreement on a partnership under which SGSS will provide Credit Suisse Asset Management in Germany with fund administration services.
Credit Suisse Asset Management in Germany has decided to outsource its fund administration business to SGSS as a dedicated partner which will provide a broad range of administrative and technological solutions to Credit Suisse (Deutschland), including front-office services (ASP), funds administration and reporting services.
Credit Suisse says this new model allows it to implement a more flexible organisation to meet the requirements of an increasingly complex and continuously changing market
Borders Group has closed on the previously announced transaction to sell Paperchase Products to Primary Capital, a UK-based private equity firm, for approximately USD31m.
Headquartered in Ann Arbor, Michigan, Borders Group is a retailer of books as well as other educational and entertainment items.
The company employs approximately 19,500 throughout the US, primarily in its Borders and Waldenbooks stores.
Boston-based Gazelle, a reCommerce service, has raised a USD12m series C round of investment led by Physic Ventures.
Gazelle’s current investors, Venrock Associates and RockPort Capital, have also invested in this round of financing.
Last year, Gazelle’s business tripled as it attracted nearly 100,000 customers to trade in or recycle used electronics.
Fueled by new equity, Gazelle will focus on scaling its business infrastructure to meet this growth.
The new funding also enables Gazelle to make additional investments in key areas of the business, including its proprietary pricing technologies and processes.
Gazelle will also work with existing retail partners to
Kotak Mahindra (UK), a wholly owned subsidiary of India’s Kotak Mahindra Bank, is launching a fixed maturity plan to help foreign investors access the India corporate debt market.
This follows the closure in early July of Kotak Fixed Maturity Plan-I, which raised about USD140m from investors worldwide.
Kotak says international investors are increasingly looking for ways to invest in Indian corporate debt. They are attracted by the combination of safety of capital coupled with higher returns than are available from companies in western markets.
Data released by the Securities and Exchange board of India shows that foreign institutional investors invested
Corporate law firm AZB & Partners has topped the Venture Intelligence India league tables as the most active legal adviser for both private equity and M&A deals, advising a total of 50 transactions in the first six months of 2010.
Ernst & Young topped the league tables as the most active transaction adviser (both PE and M&A) for the half year.
Among private equity transactions, AZB advised 25 deals worth over USD1.5bn during the period including Olympus Capital’s USD300m investment in Tata Power’s coal mine SPVs in Indonesia, the USD217m investment by Standard Chartered PE, KKR and New Silk
Jive Software, a social business software provider, has closed USD30m in series C financing.
Kleiner Perkins Caufield & Byers led the investment, with continued participation from Sequoia Capital, the only venture investor in Jive up until now.
Ted Schlein (pictured), managing partner at Kleiner Perkins, will join Jive’s board of directors.
"Social business is the most important enterprise software category in a decade," says Schlein. "Jive is the clear market leader, with a strong customer base, best-in-class technology and a deep management team. Jive is poised to become the next great enterprise software company."
"We are thrilled to have Ted
The Dubai International Financial Centre Authority has welcomed a series of regulatory changes to the DIFC’s collective investment funds regime.
The changes were made following recommendations made by a panel of market practitioners and implemented by the Dubai Financial Services Authority on 11 July 2010.
Dubai International Financial Centre-based fund managers are now permitted to establish and manage funds in jurisdictions of their choice.
Fund managers from recognised jurisdictions outside the Dubai International Financial Centre can establish and manage a domestic fund without having to establish a place of business in the DIFC.
The scope for marketing of foreign funds
Axa Private Equity has acquired 50 per cent of the capital of Autopista Trados 45 from Cintra, Ferrovial’s toll road subsidiary.
The acquisition was made by Finavias, an investment vehicle for the infrastructure funds of Axa Private Equity.
Autopista Trados 45 manages a 14.5 kilometre section of the M-45 highway in Madrid, between O’Donnell and the junction with the N-IV. It is a shadow toll road whose tolls and maximum payments from the Madrid regional government are inflation-indexed. This section of the road was inaugurated in March 2002 and the concession runs until 2029.
In 2009, the concession company reported
Highgate Associates and Enterprise Corporate Finance say their EIS fund for UK based high tech businesses is seeing huge interest from investors and entrepreneurs looking to defer capital gains tax commitments through the EIS investment vehicle.
EIS funds are a tax efficient mechanism for investing and with the latest government budget increasing CGT to 28 per cent for higher tax payers many investors are contacting HG Tech Fund Management.
Within the EIS scheme up to three year old capital gains can be rolled into qualifying EIS companies and, provided that the shares are held for a minimum of three years,
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