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The Aureos Latin American Fund has agreed to launch an investment scheme with Urbi, a home-developer in Mexico, to promote and finance low-income housing in Mexico.
The scheme will provide low-income housing through both traditional mortgages and the Alternativa Urbi programme.
Urbi’s rent-to-own programme provides access to housing to non-wage earners, who represent over 50 per cent of Mexico’s economically active population, and who do not typically have access to a traditional mortgage.
Miguel Olea, managing partner of Aureos Mexico, says: “Aureos has extensive experience managing private equity funds across Asia, Africa and Latin America; now with Urbi, we
Venrock, a venture capital firm originally established as the venture arm of the Rockefeller family, has closed Venrock VI, a USD350m diversified venture capital fund focusing on investments in early stage technology, healthcare and energy companies.
With the close of Venrock VI, the firm holds approximately USD2.2bn under management.
"The quality of Venrock’s team is illustrated by their continued ability to work with great companies and produce returns in this difficult venture capital environment. It is a testament to the firm’s efforts and success that the fund was oversubscribed, particularly when so many others are struggling to raise capital," says
Last week the SEC officially changed its position, voting to adopt new rules concerning public pension funds’ pay-to-play practices. Donald A. Steinbrugge, CFA, Managing Member,
Agecroft Partners, LLC, examines the impact of the new rules.
The new rules permit managers to pay third party marketers that are registered as investment advisers or broker-dealers. In addition, the new rule “prohibits an investment adviser from providing advisory services for compensation — either directly or through a pooled investment vehicle — for two years, if the adviser, or certain of its executives or employees, make a political contribution to an elected official in
Lyceum Capital has arranged an additional GBP25m of capital to support the growth of its portfolio firm Carewatch, the largest independent national homecare provider in the UK.
The new capital, which includes additional debt facilities from Barclays Corporate and Clydesdale Bank, will enable management to continue its programme of internal investment and facilitate further acquisitions of complementary businesses.
Over the past 18 months Carewatch has made a total of 12 acquisitions to expand its service offering, resulting in a 25 per cent growth in the number of hours of care provided by the company and its franchisees.
As
Venture capital firm Energy Ventures has strengthened its international oil and gas team with two appointments.
Shantanu Agarwal joins the Aberdeen-based team as an associate while Kristian Lier will be based in Houston as investment manager.
Agarwal joins Energy Ventures from Schlumberger when he held different positions, including business development manager, engineer in charge of well construction services and offshore and lead engineer.
Lier is a former head of DnB NOR Markets’ corporate finance group where he focused on energy transactions. Prior to that he was founding partner of management consulting firm Bangstad and an equity research analyst
Axa Private Equity has sold its 46.5 per cent shareholding in private home builder Trecobat Group to the management team, which is increasing its capital stake and thus becomes the new majority shareholder.
Marcel Treguer, the group’s founder and chairman, steps back from operations by passing on the group’s leadership to Alban Boyé, managing director since 2009.
"We are extremely satisfied to have supported the Trecobat Group in its capital-transfer project," said Baudouin d’Hérouville, managing director, and Alexis Lavaillote, director of the LBO small cap team at Axa Private Equity. "Faced with a trying economic climate, the company and
Following approval by the Guernsey Financial Services Commission, Appleby is now licensed to offer fiduciary services through Appleby Trust (Guernsey).
This follows the opening of a Guernsey office in April for the provision of legal services.
Chris Ward (pictured) has been appointed as managing director of Appleby Trust (Guernsey) and will oversee the growth of the business.
Ward was previously managing director of Rothschild Trust Guernsey and has over 25 years’ experience within the offshore trust environment. He has knowledge of both listed and unlisted companies, and has overseen the management of many different businesses including the hedge fund industry,
The British Virgin Islands
The British Virgin Islands is a leading jurisdiction for the formation of alternative investment funds, having approximately 2,800 funds registered or recognised under the Securities and Investment Business Act 2010 (SIBA). SIBA replaced the Mutual Funds Act, 1996 (the MFA) in May 2010 and has been welcomed with widespread praise by the industry. SIBA has retained the familiar and well liked framework of public, professional and private funds first established by the MFA but has updated the regime to codify long standing policy and practices as well as bringing the BVI fully into line with best
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