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The offshore fund sector, from managers and their service providers to the world’s leading offshore domiciles, has not been left in disarray by the economic and financial crisis that began mo
For fund managers and promoters, banking and administration are key functions that impact directly on the day-to-day administration of the fund.
The economic slump and financial market turbulence of the past two years has focused the attention of investors on the benefits offered by managed futures strategies, which have not only delivered
Global private equity firm The Carlyle Group has invested more than USD60m in three high growth Chinese companies.
The transactions come just four months after the closing of Carlyle Asia Growth Partners IV, the fourth fund of the Carlyle Asia Growth Group, which raised USD1.04bn in 14 months.
The deals comprise investments in Nantong Rainbow Heavy Industry, China Agritech and iTour, all strong performers in their respective sectors of heavy industry, agriculture and consumer.
The transactions reflect investors’ continuing confidence in the Asian markets and their ongoing enthusiasm for investment opportunities in China.
“We are delighted to announce
Venture capital firms Breakaway Ventures and General Catalyst Partners have sold their stakes in Retail Convergence to GSI Commerce.
GSI is a provider of e-commerce and interactive marketing services, while RCI is an operator of the e-commerce business companies SmartBargains.com and RueLaLa.com.
GSI signed a definitive agreement to acquire RCI for approximately USD350m in October.
The purchase consideration comprises USD180m to be paid at closing equally in cash and stock and an additional maximum earn-out consideration of up to USD170m based on the achievement of RCI’s non-GAAP income from operations (Ebitda) of USD51.9m in fiscal year 2012.
Bank of America
Michael Brehm has joined Munich-based venture capital firm Target Partners as a venture partner.
Brehm (pictured), formerly a managing director of Berlin-based VZnet Netzwerke, will strengthen the venture capital firm’s focus on start-ups and consumer internet.
Brehm is also an active business angel, having invested in numerous companies since 2006.
“One of my roles at Target Partners will be to help bring out the strong potential of European Internet startups,” says Brehm. “I am really looking forward to working with Target Partners, one of Germany’s most renowned early-stage investors.”
From 2006 to 2008, Brehm was a managing partner with
UNX, a provider of trading technology solutions, has secured funding from Goldman Sachs and Vernon & Park Capital to develop its electronic trading products.
The firm has also appointed Thomas Kim as chief executive officer.
The new funding will support the enhancement of UNX’s broker-neutral electronic trading products and services, including its Catalyst portal and execution management system. It will also fuel development of the firm’s open technology platform, which allows for seamless integration between the buy side and sell side.
Kim, a veteran in electronic trading, most recently served as a managing director at Lehman Brothers and head
International legal practice Norton Rose Studio Legale has advised Gio’Style Lifestyle on the acquisition of Plastic Art’s Ordinett division, which specialises in the production, sale and distribution of PVC plastic containers.
Gio’Style is based in Bergamo, Italy, and produces plastic outdoor, travel and home products, as well as plastic products used by the medical and pharmaceutical sectors.
Private equity house Atlantis Capital Situations is the owner of Gio’Style.
The add-on acquisition was completed in the context of a reorganisation plan presented by Plastic Art under Italy’s Art. 67 of Italian Bankruptcy Law.
The Norton Rose team, based in Milan, was
Golub Capital has provided a senior debt facility to Breyers Yogurt, a portfolio company of Catterton Partners.
Breyers Yogurt is the largest independent yogurt company and one of the most widely recognised yogurt brands in the US.
Its products include Breyers Fruit-on-the-Bottom, Breyers Light, Breyers Disney and the recently launched Breyers Inspirations yogurts as well as YoCrunch.
The new facility provided by Golub will be used to support the company’s continued growth and market expansion.
"This is our second deal with Catterton Partners, and we are pleased to be working with them again on what we see as a unique
The British ex-Prime Minister Tony Blair says Sierra Leone is ready for substantial international investment.
Blair was speaking at the Sierra Leone Conference in London.
Following seven years of stability, steady growth and ongoing economic reforms, the country offers many opportunities to committed investors. Such investments are starting to come to the region.
Last week, CDC Group announced a private equity investment focused solely on Sierra Leone. This is the first private equity investment by a development finance institution since the end of the country’s civil war in 2002.
CDC will commit USD5m to Sierra Investment Fund, which is managed
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