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Consulting and investment company Firm Economics has formed CubeLogic, a firm that combines a major offshore development centre in Brazil with a team of risk specialists.
Firm Economics is owned by industry veteran David Priestley, founder of Raft International, and Terry Boyland, a former J.P Morgan global business manager.
The new company will be chaired by Priestley. He will be joined by chief technology officer Lee Campbell, Riyaz Mulla who will manage the offshore services operations in India and Brazil, and Romil Shah leading business consulting services.
Priestley says: "Lee, Riyaz and Romil were part of the management team at
Christophe Bernard (pictured), Chief Investment Officer, summarises the key features of Union Bancaire Privée’s outlook for 2010.
The climate at the end of 2009 is confirming that the economic recovery is under way, albeit at contrasting speeds in the G7 and the emerging economies: Asia should be sizzling while the Western growth model is set to remain distinctly lukewarm.
Overall, financial markets are getting back on their feet and investment opportunities abound. Emerging markets’ equities still seem preferable to bonds but blue chips and defensive names are increasingly appealing. Whilst a depression has been averted, some other extreme risks are
The Association of Investment Companies says the Rowlands Growth Capital Review fails to consider venture capital trusts’ role in supporting the UK’s small business sector.
It says the report correctly identifies that smaller companies face difficulties in securing growth capital, but believes the proposal for a new fund to bridge the funding gap is fraught with difficulties which have already been resolved for the VCT scheme.
Ian Sayers (pictured), acting director general, AIC, says: “The review team were asked to examine new mechanisms to support small and medium enterprises and it is easy to see the political attractions of novel
Edmond de Rothschild Investment Partners has completed the final closing of its Winch Capital 2 development capital fund for EUR250m.
This follows a first closing on 30 June 2009 for EUR175m.
The firm managed to raise EUR250m in less than eight months.
Pierre-Michel Passy (pictured), chairman of Edmond de Rothschild Investment Partners, says: “We were targeting a second closing around EUR200m. In only four months we went above the hard cap of EUR250m. The new institutional investors were won over not only by the team and the relevance of its approach but also by the economic interest of
Heritage Capital, the merchant banking division of family-owned Banque Heritage of Switzerland, has launched its first Latin American office in São Paulo, Brazil.
The firm’s objective in the region and in Brazil is to offer merchant banking advisory services to the ever-increasing segment of growth-stage, middle-market companies and mid-sized financial institutions throughout Latin America.
Joseph Dryer (pictured), group managing director and joint chief executive of Heritage Capital, says: “We are very excited by the possibilities this region holds. Our decision to make São Paulo our base is due to Brazil’s very large economy with its growing manufacturing and export industries.
Investment banking boutique Chestnut Hill Partners has appointed Ryan Jon Orner as a director to manage and oversee the firm’s increased activity in targeted search engagements across middle market companies.
Additionally, he will be involved in all other aspects of Chestnut Hill Partners’ transactions including merger and acquisition origination, co-investment opportunities, and advisory services.
Paul L. Schaye, founding partner and managing director of Chestnut Hill Partners, says: “Ryan brings a unique and powerful combination of transaction experience and relationships across our middle market private equity target market. Ryan’s market knowledge and insights will be additive to the firm and valuable
David Cooke (pictured), a partner in the corporate department of Conyers Dill & Pearman in Bermuda, says that limited partners could find themselves exposed to unlimited liability in jurisdictions other than that in which the limited partnership is established – but a recent legal development in Bermuda can resolve the issue.
When is a limited partner’s liability potentially unlimited? One answer may be whenever the limited partnership operates outside its jurisdiction of formation – unless care is taken at the time of its formation.
Limited partnerships are established in many jurisdictions, often for the purpose of investing or carrying on
Citadel Capital, a private equity firm in the Mena region, has acquired a controlling stake in two firms in the solid waste management sector.
The Egyptian Company for Solid Waste Recycling (Ecaru) and the Engineering Tasks Group (Entag) are managed as one firm and will be grouped under a single holding company that will serve as the core of Citadel Capital’s platform investment in the solid waste management sector.
The new company, Entag Holding, will be Citadel Capital’s 18th platform company.
“We are absolutely delighted to announce the creation of our 18th platform investment, which will be controlled through
Butterfield Fulcrum, an independent alternative fund administration company, has partnered with MindTree, a global IT solutions company, to deliver technology solutions for the alternative fund administration industry.
Butterfield Fulcrum has deployed technology to provide greater flexibility, transparency and control to its customers who include hedge funds, fund of funds, managed accounts, private equity funds and real estate funds.
The most recent step is the firm’s proprietary enterprise management system, a technology application developed in collaboration with MindTree that tracks and controls all customer operations at Butterfield Fulcrum’s offices in eight countries.
“In the complex and highly sophisticated segment of financial
HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam, had an estimated net asset value of USD656.4m, or USD7.91 per share, as at 31 October 2009.
This represents a 0.6 per cent increase from the 31 July 2009 unaudited NAV of USD652.0m, or USD7.86 per share.
Between August and October, 15 of HarbourVest’s underlying portfolio companies completed IPOs, including Avago Technologies, one of its 25 largest holdings.
The company will benefit from the sales of approximately 30 companies during the period, as well as additional announced acquisitions that have not yet closed.
Since the end of October
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