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Mark Spinner, partner and Head of Private Equity at international law firm Eversheds, comments on the European Parliament approval of tighter controls on private equity firms and hedge funds.
The European clampdown on hedge funds will have wider reaching implications for the UK financial services industry as in addition to regulating hedge funds, the new rules will extend to other parts of the industry including the private equity sector.
The British Venture Capital Association has referred to the proposed legislation as being, some of the least thought out to be proposed in recent times. Many commentators believe that the new Tory/Lib Dem
Senior executives from top private equity firms say they have essentially completed aggressive cost cutting within their portfolio companies and are confident about those businesses’ growth and profitability, according to results of an annual survey conducted by RSM McGladrey and McGladrey Capital Markets.
Many plan to increase hiring during the coming year, and most expect to turn much of their attention back to dealmaking.
This year’s survey polled 148 executives from buyout, mezzanine and venture capital firms during the first quarter of the year.
In a marked contrast from the previous year’s survey, PE firms have turned from an emphasis
The Alternative Investment Management Association says it is concerned that many of the proposals in the texts of the Alternative Investment Fund Managers Directive discussed by the European Parliament’s Economic and Monetary Affairs Committee and European finance ministers at the Ecofin meeting are impractical and unworkable.
Andrew Baker, chief executive of Aima, says it seems that the process of negotiation in Econ was so highly-politicised that it took little note of the legal and practical feasibility of the compromise amendments put forward.
For example, Article 35a now prohibits investors from investing in third country funds unless the jurisdiction of the
Real estate private equity firm Hawkeye Partners is expanding its leadership team with the addition of Bret Wilkerson to serve as a managing director.
Wilkerson’s areas of expertise include the application of commercial real estate market research in investment decisions, market cycles, asset allocation, and risk management.
Prior to joining Hawkeye, Wilkerson had been with Property & Portfolio Research since 1995, serving as the chief executive from 2004 through 2009.
"Bret is a proven leader with a long tenure at PPR and will be an excellent addition to Hawkeye," says Claudia Faust, co-founder and managing partner at Hawkeye. "Bringing him
Andrew Baker, AIMA CEO, says the association has concerns over the ‘impractical and unworkable’ proposals in the EU’s Alternative Investment Fund Managers Directive (AIFMD).
AIMA, as the global hedge fund association, fully supports the regulatory goals of the EU’s Alternative Investment Fund Managers Directive (AIFMD). It is desirable both to increase transparency and to improve systemic risk assessment in the interests of financial stability.
However, we are concerned that many of the proposals in the texts of the Directive discussed by the European Parliament’s Economic and Monetary Affairs Committee (ECON) and European finance ministers at the ECOFIN meeting are impractical
H.I.G. Capital, a private equity investment firm, has completed a control investment in First Capital via one of its affiliates.
H.I.G. was joined by funds advised by Morgan Stanley Alternative Investment Partners and funds advised by JP Morgan Asset Management.
Founded in 2003 and headquartered in Boca Raton, Florida, First Capital is a commercial finance company providing asset based lending and factoring to small and mid-sized companies.
The investment will primarily be used to fund asset growth of the company.
“First Capital has a proven business model from loan origination and underwriting, through to exceptional loan servicing processes and systems,”
John Moulton (pictured) will feature amongst the panellists discussing the future of the funds industry at the Guernsey Funds Forum on 26th May in London. The event will bring together industry experts to examine the current issues relating to transparency, distribution and alternatives.
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Palamon Capital Partners, a European mid market private equity firm, has sold Movie Park Germany to Parques Reunidos, an entertainment operator based in Madrid, for an undisclosed amount.
Movie Park Germany, Germany’s third largest theme park, is the remaining asset of the Star Parks Group, a holding company created by Palamon in 2004 to purchase seven large-format theme parks from Six Flags.
In 2006, six of the seven parks were sold and the group turned its attention to the repositioning and turnaround of Movie Park Germany.
With Palamon’s support, the Star Park’s management team embarked on an aggressive three year
HarbourVest Global Private Equity has placed 4,763,208 placing shares pursuant to the secondary placing announced on 13 May at a price of USD5.75 per share.
This follows its recent admission to the Specialist Fund Market of the London Stock Exchange.
J.P. Morgan Cazenove and Oriel Securities are the joint brokers.
In connection with the secondary placing, the company has issued 4,763,208 put rights.
The put right will entitle eligible holders to sell the number of shares acquired during the market put right offer period or pursuant to the secondary placing back to the company on 15 November 2011 at the
Origo Partners’ portfolio company R.M. Williams Agricultural Holdings, the Australian agricultural company focused on acquiring, developing and operating prime farmland, has raised further equity funding.
In a series of recent transactions, R.M. Williams has entered into arrangements to place a total of AUD45m worth of common stock.
The equity raised will be engaged to complete the acquisition of various properties in the Northern Territory of Australia. The transactions are expected to close in June.
R.M. Williams is also considering various other joint initiatives with key partners, including proposals to further cement the business as Australia’s premier agricultural operator across
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