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YA Global Master SPV, a fund managed by Yorkville Advisors, has entered into a GBP3m standby equity distribution agreement with Aim listed Shanta Gold.
Shanta Gold is a gold exploration and development company, engaged in greenfields to advanced exploration in under-explored areas in Tanzania.
Shanta Gold entered into the SEDA as a means of raising additional capital, as and when required, to assist the company with financing exploration and property upgrade activities.
Pioneered eight years ago by Yorkville, a SEDA offers companies a low risk, cost effective way of optimising their capital structure in pursuit of their growth
Sub-Saharan Africa is less exposed to worldwide economies and most of the region’s countries continue to see growth, according to a report by CDC Group.
Despite this, they are not completely insulated and are feeling the effects of the global financial crisis.
Jonny Gill, portfolio analyst, at CDC, says: “Local economies are suffering from lower remittances from nationals based overseas, a sharp fall in commodity prices, reduced donor funding and rising unemployment. In addition, much needed infrastructure projects are being put on hold adding to the difficulties faced by businesses. Countries that are overly reliant on commodities and/ or on
Jerry Haworth, director and co-founder of 36 South, the global macro/volatility hedge fund, says currency volatility is about to explode as Central Banks continue to keep an iron grip on interest rates in response to the global financial crisis.
Central Banks have two control levers which they can use to control events related to their financial flows. One controls the level of interest rates while the other controls currency rate. Economic theory dictates that Central Banks can only hope to control one of these “policy levers” whilst the other is left free to find its own level in response.
It
IBM has entered into an agreement to acquire Lombardi Software, a SMH Private Equity Group portfolio company based in Austin, Texas.
SMH Private Equity Group is a division of Sanders Morris Harris Group.
Lombardi, a provider of business process management software and services, helps organisations automate and integrate business processes to increase efficiencies and reduce costs.
This is the third major private equity investment exit in the past 12 months for SMH, following the sale of Wayport to AT&T and New England Pantry to 7-Eleven.
Insight Management has signed a definitive agreement for equity financing of up to USD10m from Auctus Private Equity Fund based in Boston.
The financing is subject to an S-1 registration statement being declared effective by the Securities and Exchange Commission. The company expects to file the S-1 in the next week.
The USD10m equity line of credit represents one phase of Insight Management’s long term financing strategy and will be used for working capital and for payments of its acquisitions in the energy industry.
Insight Management is a public holding company focused on the energy industry. The company acquires oil
Carbon Hub, a developer of carbon management web solutions, has closed its first financing round by raising EUR1m from Seventure Partners – a subsidiary of Natixis Private Equity – and Business Angels.
Carbon Hub provide software solutions and supporting services to help private companies and public sector organisations reduce their environmental footprint.
The Carbon Hub platform provides organisations with a complete solution to measure, manage, report on, and mitigate greenhouse gas emissions across complex environments. It enables stakeholders to identify and implement carbon reduction opportunities while reaping the financial benefits of streamlined operations.
With this successful financing, Carbon Hub is
The Association of Investment Companies has appointed Ian Sayers as director general of the association effective from 1 January 2010.
Sayers has been acting director general of the AIC since Daniel Godfrey left the association at the end of July 2009.
Carol Ferguson, chairman of the AIC, says: “On behalf of the board, I am delighted that Ian has accepted this position as he has done an outstanding job for the AIC. Ian’s intellectual rigour and specialist knowledge have already been an enormous benefit to the AIC. He has been instrumental in many of the association’s victories, particularly the VAT
HarbourVest Partners, a global private equity firm, has promoted Peter Lipson, Julie Ocko and Mary Traer to managing director.
Traer has also been named chief administrative officer.
Additionally, Karin Lagerlund has been named chief financial officer, Sebastiaan C. van den Berg has been promoted to principal, and Bruce G. Pixler, Catherine Shih, and Abraham Soquar have been promoted to vice presidents.
"We are pleased to recognize these individuals, who represent HarbourVest around the globe in Boston, Hong Kong, and London," says Brooks Zug (pictured), senior managing director of HarbourVest. "These promotions illustrate the growing leadership of our firm, our commitment
Offshore law firm Mourant du Feu & Jeune has appointed four Jersey-based partners.
James Hill became an equity partner of Mourant du Feu & Jeune earlier this year, and Felicia de Laat (pictured), Joel Hernandez and Michael Williams have been invited to become partners of Mourant LP.
The appointments are planned to take effect from 1 February 2010.
The promotions bolster the firm’s funds and finance and corporate practices in Jersey.
Managing partner Jonathan Rigby says: “We are delighted to welcome Felicia, Joel, James and Michael to the partnership. Each has made a strong contribution to the success of the
David Morrissey (pictured), New Business Development, Europe and the Middle East, SEI’s investment manager services division, looks back on 2009, ‘the era of the investor’, and what’s next for 2010.
Managers are being driven by their investors to have a transparent, independent, and process-driven operational environment. In this ‘Era of the Investor,’ managers need to have an operational environment that incorporates audit controls, data governance, and effective risk reporting.
Not surprisingly, these are also of extreme importance to regulators and, when done right, help to demonstrate that a firm is well run and has adequate risk controls and a robust
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