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European private equity firm AnaCap Financial Partners is to acquire Banco Popolare Ceská Republika, the Czech subsidiary of Italy’s Banco Popolare, subject to due diligence and regulatory approvals.
Banco Popolare Ceská Republika, which incorporates a seven branch network, is a fully licensed Czech bank that serves corporate and retail customers.
Earlier this summer, AnaCap completed fundraising for a new EUR575m fund which attracted the backing of investors such as Goldman Sachs, Morgan Stanley Alternative Investment Partners and Allianz.
According to AnaCap, the Czech Republic is uniquely placed within the European Union for rapid but sustainable expansion of its financial services
Transcu Group, a Singapore Exchange Mainboard-listed company, has entered into a SGD72m equity line facility with YA Global Master SPV, a fund managed by Yorkville Advisors of New Jersey in the US.
The investment was sourced and advised by Yorkville Advisors HK.
Transcu, a life sciences company engaged in the research, development and commercialisation of technologies to improve the quality of life, may use the funds for the group’s general corporate and working capital purposes and to further develop its existing business portfolio which includes pharmaceutical, cosmetics and green technology businesses.
Under the terms of the equity line
Current attempts to tighten the regulation of financial services could lead to regulatory arbitrage among countries, according to a survey by advisory firm Kinetic Partners.
The survey, which was carried out by Kinetic Partners at an industry event held last week, found that this may weaken, rather than strengthen, supervision of the industry unless measures are applied globally.
The vast majority of respondents (87 per cent) believe that current attempts to regulate the financial services industry could result in regulator arbitrage among countries if not applied globally.
Sixty one per cent of survey respondents thought Ucits funds would
Upstream exploration and production company Moorland Energy has secured a further GBP7m investment from Epi-V, an investor in oil and gas services.
This follows the recent announcement that significant gas reserves were confirmed at Moorland’s Ebberston South well in North Yorkshire.
The deal will enable the business to fund the design, planning and engineering developments required to optimise gas production at the site and to prepare the well for future connection to the UK transmission system.
Moorland Energy is a vehicle created to acquire licences to extract hydrocarbons from surveyed and partially delineated discoveries.
Epi-V invested GBP10m
Gravitas, a technology solutions provider and business consultant to the alternative investment and financial services industries, has released the first suite of cloud services designed exclusively for alternative asset management firms.
Gravitas’ cloud computing service provides virtual server hosting at secure offsite co-location facilities and hosted applications including email, mail compliance, remote data backup and Voice over Internet Protocol services on a per user, per month basis.
The service also gives asset managers the ability to add computing capacity as it is needed, giving them the ability to scale to very large environments on demand.
“Alternative asset management firms
The worldwide financial market’s performance over the last 12 months has made some financial institutions and investors wary, but law firm Walkers sees opportunities for offshore finance and private equity structures in Asia.
While there have been shifts in focus by the market, the right offshore strategies can help achieve onshore solutions for investors and institutions, says Walkers.
Over the past five years, there has been significant growth in foreign direct investment in Asia, and particularly in the Peoples’ Republic of China. In that time, thousands of companies have been incorporated in the British Virgin Islands and the Cayman Islands
HM Revenue & Customs intends to consult on how to ensure the enterprise investment scheme is targeted appropriately at businesses.
Richard Hoskins (pictured), manager private client services at Oxford Capital, says some providers have been using limited partnerships to abuse the EIS rules.
“If advisers and investors back products aiming to take advantage of the generous tax breaks, against the spirit of the legislation, they are exposing their clients to significant additional risk and a number of popular tax avoidance schemes have been removed from the market in recent weeks,” says Hoskins.
He believes EIS is the most compelling
Gowalla, a location-based social networking service, has completed a series B funding round totalling USD8.4m.
Silicon Valley-based venture capital firm Greylock Partners led the round.
The capital infusion will be used to strengthen growth efforts. With this latest funding, Gowalla has now raised more than USD10m since it was founded in 2007.
Gowalla encourages people to share their favourite places and events with friends while discovering the world around them. The Gowalla service is currently available on iPhone and Android.
“Gowalla has rapidly attracted a passionate user base by creating an innovative, useful service that is also a lot of
SEI’s latest white paper, “Private Equity Investors – Committed Yet Concerned”, provides insights into institutional investors’ sentiments regarding their private equi
F&C Private Equity Trust has completed its GBP30m zero dividend preference share issue.
The zeros have been issued with a five-year life and a gross redemption yield of 8.75 per cent.
F&C Private Equity Trust is a diversified investment trust that invests in private equity funds and direct investments. It focuses on the mid-sized segment of the European buyout market, which despite the challenges facing the private equity sector in general is increasingly seen as an attractive area.
The trust funds the drawdown of commitments to private equity funds from a combination of the proceeds of realisations and
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