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London’s investment community has been reassured that Guernsey is confident of continuing to be a leading funds centre despite current uncertainties, including the EU’s proposed Alternative Investment Fund Managers Directive.
More than 250 delegates attended the Guernsey Funds Forum which was held on Wednesday at the Grange St. Pauls Hotel.
Peter Niven, chief executive of Guernsey Finance, says: “This event was aimed at reassuring our key supporters in London that we are dealing positively with a number of current uncertainties, in particular the AIFM Directive, and as a result of this work, the Island continues to be an attractive and
Vision Opportunity China Fund has invested USD8.0m in China Security & Surveillance Technology as part of a USD60.0m underwritten secondary public offering.
Oppenheimer and Brean Murray Carret were joint managers for the offering.
China Security & Surveillance, together with its subsidiaries headquartered in Shenzhen, is a one-stop solutions provider and consolidator in China’s fast growing security and surveillance industry. It designs, manufactures, and installs security and surveillance systems, and provides after-sales support and maintenance services for its customers.
With 14 acquisitions over the past three years, China Security & Surveillance has capitalised on the growth opportunities arising from China’s highly
HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange, says its net asset value rose by 13.7 per cent over the year to 31 January 2010.
As at 31 January 2010, HarbourVest’s NAV was USD718.2m or USD8.65 per share.
This represents an increase of USD1.04 per share over the financial year from 31 January 2009.
Of the USD1.04 increase in NAV per share, USD0.44 resulted from HarbourVest US fund of funds, USD0.37 from HarbourVest international fund of funds, USD0.33 from HarbourVest direct funds, and USD0.17 from
PCS Edventures, a provider of K-16 programmes that emphasise hands-on student experience in science, technology, engineering and maths, has completed a private placement that raised USD450,000 in net equity capital.
The private offering was fully subscribed by current shareholders and accredited investors who purchased 750,000 shares of PCS common stock at a price of USD0.60 per share.
The price at which the offering was completed represented a ten per cent discount from the closing price of PCS common stock on the OTC bulletin board on the date of the offering.
Investors also received common stock purchase warrants equivalent to 33
Future Capital Partners, the GBP6bn alternative investment boutique, has strengthened its business development team with the appointment of Alan Cross as business development manager.
Cross brings over 22 years of financial services experience to Future Capital.
He will be responsible for developing and strengthening relationships with key accountancy and intermediary firms among Future Capital’s client base in Scotland and Northern Ireland.
Cross will be an integral part of the business development team with the marketing of Future Capital’s range of products, the most recent being Future Fuels. Launched in January, Future Fuels is an investment partnership that will
Patrick Atkinson, partner, PricewaterhouseCoopers in Spain comments on current M&A activity in the Spanish financial services market following the rescue of a savings bank.
The rescue of CajaSur is likely to spark a wave of mergers in the Spanish banking market as the Spanish Government pushes forward with its plans to merge those institutions to strengthen the market.
This could result in a number of attractive assets (including branch networks) coming on to the market, opening up appealing acquisition opportunities for both competitors and new entrants.
However, this ‘back to basics’ phase does not provide the only opportunity
Communications agency Vanksen has received a USD5m (EUR4m) investment from Quilvest Private Equity.
The funds will be used primarily to fuel Vanksen’s expansion in digital communications and facilitate international expansion, especially in the US.
Within the framework of this deal, for which Vanksen was advised by PricewaterhouseCoopers Corporate Finance, Quilvest Private Equity takes a minority share of the capital from the management and founders and is subscribing to convertible bonds to help finance the development of the agency.
Vanksen is a pure-play viral and buzz marketing communications agency. It activates and optimises the connection between brands and consumers.
Vanksen will
Accel Partners, a venture capital and growth equity firm operating in Silicon Valley, Europe, Israel, China and India, has hired Rob Glaser as a venture partner.
Glaser will focus on digital media technology, social media, and mobile service investments.
He currently serves as chairman of RealNetworks, which he founded in 1994.
Glaser has been a member of the Accel Partners family since it invested in Real in 1995. In addition to his role as chairman, Glaser served as Real’s chief executive from February 1994 through January 2010.
Jim Breyer, a managing partner in Accel’s Palo Alto office, says: "We have
Pivotal Group, a Phoenix-based investment company focused on private equity and real estate investment and development, has appointed Scott Knauer as managing director of real estate.
Knauer, a long-time Phoenix real estate executive, brings to Pivotal more than 25 years of experience in real estate acquisitions, advisory services, development and management.
He has been involved in properties valued at more than USD2bn, which include Scottsdale Waterfront, a USD240m mixed-use development; the Biltmore Mountain Estates, a prestigious residential community in Phoenix; and Legend Trail, a master-planned community in North Scottsdale.
“Scott is providing the leadership for our real estate platform as
Managed services provider ViaWest has completed its previously announced acquisition by private equity firm Oak Hill Capital Partners, in partnership with the company’s management team.
GI Partners also participated in the transaction and has a minority investment in ViaWest.
The financial terms of the transaction were not disclosed.
"We are very pleased to move forward in our new partnership with Oak Hill Capital," says Michael Krza, chief financial officer of ViaWest. "I cannot overstate the efforts of all parties involved to make this a seamless process, and we couldn’t be happier about the addition of another knowledgeable industry investor in
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