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GCP Infrastructure Investments has raised GBP40m at a price of GBP1.00 per ordinary share through the placing, the offer for subscription and the arrangements for switching.
The company has applied for admission of 40,000,000 ordinary shares to trading on the Official List and to trading on the London Stock Exchange’s main market for listed securities, which is expected to take place on 22 July 2010.
Oriel Securities is acting as financial adviser, sponsor and bookrunner.
Stephen Ellis, managing partner of Gravis Capital Partners, says: "In spite of difficult market conditions, the quality of our concept (the targeted provision of debt
Emerald Hill Capital Partners, an Asian private equity fund of funds based in Hong Kong, has held the final closing of its second fund.
Emerald Hill Capital Partners II achieved its USD300m target with backing from endowments, foundations, pensions, insurance companies, and family offices in the US and Europe.
The firm now has in excess of USD500m of assets under management.
“We are very pleased with the outcome of our fundraise and extremely grateful to our investors for their continued support of Emerald Hill,” says Eugene Choung, one of the firm’s partners.
Endowments and foundations continue to make up a
FirstMark Capital, an early stage venture capital firm investing in technology and technology-enabled businesses, has appointed Andy Macdonald, Scott Switzer and Nick Marsh as venture partners.
Macdonald, Switzer and Marsh join FirstMark venture partners Larry Wilson, Sterling Phillips and Shabbir Dahod.
“Our venture partners bring deep, industry-specific knowledge and real-world experience to the FirstMark team and serve as invaluable, strategic assets to the firm, our portfolio companies and our investors,” says Lawrence D. Lenihan (pictured), chief executive and managing director of FirstMark Capital.
Macdonald was a member of the founding management team of First Advantage. During his time at First
Investec Growth & Acquisition Finance, part of Investec Specialist Private Bank, says that during the last 12 months it has seen a fourfold increase in the number of vendors looking to support management buyouts of their own companies.
They are mainly achieving this through the use of loan notes and/or by participating in the equity structure of the new company.
The benefit to the vendor is that they are able to retain a financial interest in the business without responsibility for the day-to-day running of the operation. The management team, meanwhile, does not have to raise the same level of
Venture investors put USD7.7bn to work in 744 deals for US-based companies during the second quarter of 2010, according to statistics from Dow Jones VentureSource.
This is the highest quarterly total for capital invested since USD8.4bn was put into 699 deals during the third quarter of 2008.
"Fueled by investors’ need to keep current portfolio companies funded and to begin investing from new funds, venture capital financing had a strong quarter," says Jessica Canning, global research director for Dow Jones VentureSource. "Deal activity and capital invested in venture-backed companies is once again near levels seen before the start of the
Offshore firm Appleby has acted as British Virgin Islands counsel for Chevalier Pacific in its sale of 80 per cent of Pacific Coffee for HKD326.64m to China Resources.
Both Chevalier Pacific and China Resources are listed on the main board of Hong Kong Stock Exchange.
The Appleby team was led by Judy Lee (pictured), a corporate partner in Appleby’s Hong Kong office, assisted by Mark Cummings, senior associate.
Richard Butler in association with Reed Smith advised China Resources as to Hong Kong law and Robertsons advised Chevalier Pacific as to Hong Kong law.
Pacific Coffee is Hong Kong’s second-biggest coffee
Channel Islands law firm Carey Olsen has promoted Robert Milner and Simon Marks to partner in the Jersey corporate and finance practice area.
Milner specialises in finance and fund structures with a particular focus on vehicles aimed at institutional and sophisticated investors. He also advises an international base of clients and lenders where property-holding structures involve Jersey vehicles.
Milner established the first Jersey unregulated fund limited partnership and has established a number of funds which are listed on global stock exchanges. He joined Carey Olsen in Jersey in 2005 from another Jersey law firm, having qualified as an advocate of
Private equity lawyer Matthew Hudson has formed a new law firm, MJ Hudson, to provide legal advice on the formation of specialist investment funds and structuring deals.
MJ Hudson has been formed to strengthen the partnership between advisers and their clients and to more deeply align their interests.
With a career spanning 25 years in the alternative asset industry, Hudson says there is a growing requirement for law firms to offer a broader, business based offering with a more creative and competitive pricing model, as well as having a clear specialism and total fund management industry focus.
Rather than charging
RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, has closed its third equity fund totalling USD600m and its second captive subordinated debt fund of USD200m.
RoundTable closed its first equity fund of USD400m in March 2002 and its second equity fund of USD500m in March of 2005.
The first capital fund of USD200m was closed in July of 2006.
RoundTable is also expanding its partnership to support the growing investment activity of the firm. Joseph F. Damico and Lester B. Knight (pictured), two of the four founding partners, have been named co-chairmen. Jack L.
NYSE Euronext has launched a London-based securities market, NYSE Euronext London, aimed at attracting international issuers looking to list in London.
NYSE Euronext London is complementary to NYSE Euronext’s other European securities markets and will enhance the visibility and prominence of its Continental Europe listing and trading venues.
Dominique Cerutti, president and deputy chief executive of NYSE Euronext, says: “This is a natural next step in NYSE Euronext’s evolution and a logical extension of our European cash markets. NYSE Euronext London combines the strength and visibility of our global brand and our leadership position in European cash markets with NYSE
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