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Adveq Holding and Dalian United Holding have formed a jointly owned investment management company in China.
The company will be the first non-government private equity fund of funds investment company in the People’s Republic of China.
The new entity’s purpose is to pursue investment management and related service activities in private market investing in China. The initial prime focus will be the formation of RMB denominated private equity fund of funds and related service activities in China.
Dalian’s chairman Zhenxin Zhang says: “Looking at the Chinese market, we see tremendous opportunities to develop our activities within the scope of RMB
Guernsey’s Chief Minister Lyndon Trott has told a major London conference that the island should not be “dismissively” compartmentalised as an offshore centre.
He was speaking at The Future of Onshore and Offshore Financial Centres Conference alongside Jeffrey Owens, director of the Centre for Tax Policy and Administration at the OECD, and Michael Foot, chairman of the Promontory Financial Group and author of the recent HM Treasury commissioned report into the British Crown Dependencies and overseas territories.
The Chief Minister said the onshore/offshore distinction was outmoded in the modern globalised economy.
Instead he highlighted the island’s position in the Global
NorthStar Equity Investors has been selected by Northern Film and Media and regional development agency One NorthEast to manage a GBP2.4m fund.
The Creative Fund will be used to invest in creative companies and the commercial content that they are developing and producing.
It will be open to both companies indigenous to the North East and those wishing to base production in the region.
The fund will formally launch in early 2010, but NorthStar is keen to start meeting interested entrepreneurs from the film, TV, interactive media, games and music sectors in the region straightaway.
It follows Northern Film and
2010 will see a significant growth in the clean technology and information technology sectors, according to a report by recruitment consultancy Polachi.
As the economy pulls out of a recession, the job market is changing with information technology and clean technology gaining speed.
The company says that with an increasing demand for C-level executives in technology and a shortage of talent, there are a number of opportunities.
Although the job market will take time to stabilise, the economy is turning and economists are optimistic about 2010.
“Since Labor Day, we have seen a dramatic increase at the executive level in
The past 12 months have demonstrated graphically the vital importance for investors in alternatives of minimising the downside risk associated with extreme market conditions.
Electra Partners and its portfolio company Premier Asset Management have completed the acquisition from Aberdeen Asset Management of the management contracts for two Oeic fund umbrellas containing ten open-ended former Credit Suisse funds.
The fund management contracts comprise GBP910m of assets taking Premier’s total assets under management to approximately GBP2.5bn.
The transaction was for a consideration of GBP23m and was equity funded by Electra Partners.
Alex Cooper-Evans (pictured), investment partner of Electra Partners, says: “Since the beginning of the downturn we have concentrated on protecting and enhancing our portfolio. This bolt on is a prime example of the strategy;
Venture capital firms Montagu Newhall Associates, Balderton Capital Management (UK) and Scale Venture Partners have sold their stakes in ScanSafe, a provider of web security-as-a-service, to Cisco Systems.
Cisco is a designer and manufacturer of communications, network and information technology related products.
The acquisition will enable Cisco to build a borderless network security architecture that combines network and cloud-based services for advanced security enforcement. The acquisition brings together the Cisco IronPort high-performance Web security appliance and ScanSafe’s SaaS Web security service.
On 27 October, Montagu Newhall, Balderton Capital and Scale Venture Partners (formerly BA Venture Partners) announced that they were
Oakley Capital Private Equity’s subsidiary VVX (Bermuda) has acquired 51 per cent of Verivox Holdings, one of Europe’s largest independent online consumer price comparison businesses for energy and telecom services.
VVX acquired 49 per cent of Verivox from Independent News and Media for EUR16m plus EUR1m additional consideration payable in 2010 conditional on Verivox achieving targeted Ebitda for 2009.
VVX acquired a further two per cent of Verivox from its founding managers.
For the year ending 31 December 2009, management expect Verivox’s Ebitda to exceed EUR10m.
Verivox was acquired with no material net debt after taking into account the repayment
New Earth Solutions Group has achieved financial close on two projects with approaching GBP20m of investment, including circa GBP13.5m of senior debt provided by Norddeutsche Landesbank.
New Earth has achieved financial close on its latest mechanical and biological treatment facility at Lutterworth in Leicestershire, which will become the company’s fourth operational site.
The 50,000 tonnes per annum facility will be constructed at the existing Lafarge Aggregates Cotesbach landfill site.
Developed through a partnership between New Earth and Lafarge Aggregates, the facility is underpinned by a waste treatment contract with Leicestershire County Council that runs until March 2015 with options to
Financial professionals in Germany who have earned the Chartered Alternative Investment Analyst credential will celebrate the launch of the CAIA Germany Chapter on 8 December in Frankfurt.
Financial experts, including Armin Sandhövel, chief executive of Allianz Climate Solutions, and Francois L’Habitant, chief investment officer of Kedge Capital Fund Management, will participate in a programme titled "alternative investments after the crisis".
The experts will speak on climate investing, as well as the effects of the financial crisis on the future of hedge fund and private equity investment strategies.
The programme is open to CAIA members and financial professionals in the alternative
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