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Arendt & Medernach, the largest law firm in Luxembourg, has opened a new office in Hong Kong following similar expansions in Brussels, New York, London and Dubai.
The opening of the office will enable the firm to better serve its clients and law firms with which it works closely in Asia, as well as follow its Luxembourg clients who have operations in the region.
As a representative office, the Hong Kong office will not practice under Hong Kong law, for which the firm will continue to collaborate closely with those local law firms.
The services offered by the new Hong
IMS Health, a provider of market intelligence to the pharmaceutical and healthcare industries, has entered into a definitive agreement to be acquired by investment funds managed by TPG Capital and the CPP Investment Board.
The transaction has a total value of USD5.2bn, including the assumption of debt.
The agreement was unanimously approved by the IMS board of directors based upon the recommendation of the transaction committee that was established to undertake a review of IMS’s strategic alternatives.
Under the agreement, IMS shareholders will receive USD22.00 cash for each share of IMS common stock they own, representing a premium of approximately
The Emerging Markets Private Equity Association has appointed Sev Vettivetpillai, chief executive of Aureos Advisers, to its board of directors.
Aureos is a private equity fund management company specialising in investing in small to mid-cap businesses in Asia, Africa and Latin America.
EMPEA is a global member-based association established to promote a greater understanding of and a more favourable climate for investing in emerging markets. It was founded with the belief that private equity can be a critical driver of economic growth in emerging markets while simultaneously generating strong returns for investors.
Vettivetpillai (pictured) will become the first
Albion Ventures, a UK venture capital investor, predicts that the venture capital trust market could double in size this tax year to GBP250m-GBP300m from GBP150m in the tax year 2008/2009.
Albion believes that VCTs have become more attractive due to a combination of factors.
VCTs, with 30 per cent income tax relief, tax free income and no capital gains on disposal, have become more attractive for higher rate tax payers following reduced tax reliefs on pensions and prospective rises in income tax.
Many banks are still reluctant to lend to smaller business meaning investors like Albion that do not use
Lime Rock, a private equity firm focusing on the global energy sector, has closed Lime Rock Resources II with USD410m in total capital commitments.
Like the first Lime Rock Resources fund, Lime Rock Resources II will seek to acquire, directly operate, and improve lower-risk oil and gas properties in the US.
Together with the Lime Rock Partners funds, which invest growth capital in energy companies worldwide, Lime Rock now manages private equity funds with USD3.9bn in total capital commitments.
Thirty five institutional investors, including endowments, foundations and pension funds, made capital commitments to Lime Rock Resources II. Sixty eight per
Argo Capital Management’s Shamillia Sivathambu (pictured) examines the implications of the formation of a credit bubble in the emerging markets.
The MSCI Global Emerging Markets Index is up more than 60%, eclipsing the 30+% highs of its developed market counterparts while credit spreads have just had their best six month period since the early 1990’s with the J.P. Morgan Emerging Market Bond Index up around 28% so far this year.
But signs of a pullback are already taking shape with spreads in high grade names like Brazil starting to widen, leading some commentators to question the sustainability of such a
A team of global commercial fraud lawyers and investment professionals is launching a USD150m investment fund, named Echemus, to underwrite the investigation, seizure and recovery of worldwide assets for victims of fraud.
The team is led by Martin Kenney, a renowned commercial fraud lawyer and asset recovery specialist currently engaged in unwinding billions of dollars connected to the Bernard Madoff investment scheme.
Kenney will serve as managing director of the fund and will oversee all of its investigation, collection and litigation activities.
The International Monetary Fund estimates that purportedly fraudulent, "black transactions" account for five to ten per cent of
Growth equity firm WestView Capital Management has closed WestView Capital Partners II, a USD325m private equity fund that will invest in middle-market growth companies in partnership with management teams.
WestView Capital Partners II will be managed by a group of private equity investors who have worked together for many years and have been successfully executing the same strategy since 1990.
WestView received strong support from its Fund I investors as well as adding several new LPs. Investors in WestView Capital Partners II include a blue-chip roster of leading institutional investors such as public and private pensions, insurance companies, fund of
Private equity firm Genstar Capital has appointed Hal Strong, former vice chairman of Russell Investments, as an operating executive.
Strong brings to Genstar an extensive financial sector expertise that spans nearly 30 years.
Since 1990, he served with Russell Investments, a global investment management firm with over USD150bn in assets under management that provides investment solutions to individual, institutional and adviser clients in more than 40 countries.
He will help Genstar’s efforts to make investments in asset managers and financial services businesses.
Jean-Pierre L. Conte (pictured), chairman and managing director of Genstar, says: "We are very pleased that Hal will
International law firm Watson, Farley & Williams has advised Coal of Africa, listed on AIM, ASX and JSE, on a placing to raise GBP56.9m.
A total of 59,867,731 new ordinary shares of no par value in Coal of Africa have been placed by J.P. Morgan Cazenove as sole global co-ordinator and sole bookrunner together with Evolution Securities as joint lead manager and Mirabaud Securities as co-lead manager.
Each placing share was priced at 95 pence, raising gross proceeds of approximately GBP56.9m.
The placing shares being issued represent approximately 14.52 per cent of Coal of Africa’s issued ordinary share capital prior
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