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Mutual fund, hedge fund and private equity managers fear the impact of inflation but are optimistic about the prospects for US and Asian equity markets over the next 12 months, according to survey data published by RBC Capital Markets.
The 102 asset management respondents, who manage a combined total of approximately USD4.1trn of assets, also project a slow global economic growth recovery and express scepticism about commercial real estate.
Thirty-eight per cent of respondents selected currencies as the asset class they are most likely to increase in light of the sovereign debt crisis, 37 per cent chose equities and 35
Nearly three years after its inception Resavacs, editor of the rental portal anyresa.com, has completed a second round of funding of EUR2.2m to strengthen its public relations, accelerate the export of its free search engine and expand its business internationally.
The company has raised EUR2.2m from funds managed by BNP Paribas Private Equity.
This operation was conducted with the assistance of law firm Dumas Structure which specialises in restructuring and M&A.
This financing follows a first round of EUR500,000 carried out in 2009 and received from business angels.
Created in January 2008, Resavacs launched its anyresa.com portal in
Alternative assets under management on behalf of pension funds by the world’s largest alternative investment managers remained unchanged in 2009 compared to the year before at USD817bn, according to research by professional services company Towers Watson in conjunction with the Financial Times.
The research also shows that around half of all assets managed by these alternative investment managers are managed on behalf of pension funds.
The Global Alternatives Survey covers five alternatives asset classes: real estate; private equity fund of funds; fund of hedge funds; infrastructure; and commodities.
"Institutional investors continue to diversify into the full range of alternative assets,
The Irish government has launched a EUR500m fund of funds to support enterprise development and job creation.
The vehicle will commit to international venture capital firms that agree to launch new European operations in Ireland.
Speaking at the New York Stock Exchange, the Taoiseach said: “The Ireland of the future will be a smart, high-value, export-led economy. It will have some of the world’s leading research-intensive multinationals, a number of which will be Irish-owned. It will be a centre for advanced manufacturing. It will have thousands of innovative small and medium enterprises. These companies will be creating the products and
Axa Private Equity has acquired a majority stake in the Phönix/Strack Group, a manufacturer of valves for companies in the fields of energy, petrochemicals and chemicals.
The group’s products are sold under the brand names Phönix and Strack. It was founded in 1910 and remained in private hands until now.
Managing partners Lothar Fichtner and Markus Rosam will continue to implement the company’s growth strategy. Axa Private Equity will support the implementation of this strategy.
The Phönix/Strack Group generates approximately EUR40m in revenue annually with its 250 employees at plants located in Volkmarsen and Magdeburg as well as through its
NB Private Equity Partners, a closed-end private equity fund of funds investment company, had an unaudited net asset value per share of USD9.43 as of 30 June 2010.
This represents a decrease of 0.9 per cent compared to the unaudited net asset value per share of USD9.52 at 31 May 2010.
During June, NBPE’s portfolio value increased due to USD0.3m of unrealised gains on credit-related fund investments. These gains were offset by USD2.7m of unrealised losses on public equity securities and USD0.1m of negative foreign exchange adjustments.
NBPE invested USD3.5m into private equity investments in June and received USD5.9m
Flying J, one of the largest retail distributors of diesel fuel in North America, has emerged from Chapter 11 bankruptcy protection with the aid of Grant Thornton, which served as the financial adviser to the official committee of unsecured creditors, and Pachulski Stang Ziehl & Jones, which served as counsel to the committee.
The company will repay in full the USD1.4bn owed its creditors, with the distributions on allowed claims of the company’s creditors expected to commence before the end of July.
Amidst a precipitous drop in oil prices and a challenging economic environment, Flying J initially filed for
The Amplio Group’s investment company Envirogen Technologies, a water technology and services solutions provider, has secured USD50m equity financing.
Envirogen’s financing has been secured from a provider of alternative investment solutions for a pipeline of design, build and operate environmental treatment projects.
The financing will be deployed on a project-by-project basis.
The USD50m financing ensures that Envirogen has sufficient investment capital for future design and installation projects that feature its water technology and long-term service agreements. Target municipal projects include drinking water and wastewater treatment and groundwater remediation for both organic and inorganic contaminants. Industrial projects are expected to
Kallista Energy, the growing French wind farm operator 100 per cent owned by AXA Private Equity, has acquired the wind farm assets of Neoelectra Group in Brittany.
This deal strengthens Kallista Energy’s position in the French renewable energy market and underlines the continued support of AXA Private Equity for its industrial partner.
This acquisition increases the number of wind farms operated by Kallista Energy in France from 15 to 19 and its installed capacity to 194.5 MW. The addition of the Neoelectra Group assets gives the group a presence in Brittany, which is one of the French regions with
US private equity fund-raising fell to USD45.1 billion during the first half of 2010, down 26% from USD61.2 billion raised during the same period last year, according to Dow Jones LP Source, an industry database that tracks private equity fund-raising.
The number of funds raising capital was static, with 198 funds attracting commitments during the first half of 2010, the same number as in the first half of 2009.
"The absence of mega buyouts, which drove private equity fund-raising to new peaks a few years ago, is now keeping the total capital raised at lower levels," says Jennifer Rossa,
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