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Practitioners from Guernsey’s fiduciary sector are reporting that business opportunities for them in the Asian market are better than ever following the island’s latest delegation to the region.
A team of officials and industry leaders from Guernsey’s finance industry have recently returned from a three-centre visit to Singapore, Hong Kong and Shanghai.
Peter Niven, chief executive of Guernsey Finance, the promotional agency for the Island’s finance industry, says: “The delegation was extremely valuable. Not only have we made progress establishing the Guernsey brand in Singapore and Hong Kong but in Shanghai particularly we really made significant strides at reinforcing
BNY Mellon Asset Management has acquired a 20 per cent minority interest in Siguler Guff, a multi-strategy private equity firm with approximately USD8bn in assets under management and committed capital.
Siguler Guff’s focused investment offerings include fund of funds targeting distressed security investing, investing in emerging markets, including Brazil, Russia, India and China (BRIC), and investing in small cap buyout opportunities.
Siguler Guff focuses its investments across three different business lines: fund of funds, advisory activities and direct investment funds. Founded in 1991 within Paine Webber, Siguler Guff became an independent firm in 1995.
“In the aftermath of the financial
Greylock Partners, a Silicon Valley venture capital firm, has closed its USD575m Greylock XIII fund.
The firm has also added a new investing partner, LinkedIn co-founder and executive chairman Reid Hoffman.
Greylock will use the funds to invest in and support promising enterprise and consumer software, services and infrastructure ventures.
“We are thankful to count among our investors some of the most sophisticated and respected university endowments and family foundations, many of which have been enthusiastic supporters of Greylock since our founding in 1965,” says Greylock partner Bill Helman.
Recent and current consumer companies Greylock has supported include Digg, Facebook,
Adveq, an investment manager of private equity funds of funds, believes that investors are facing the prospect of a tripolar private equity investment world in which the three major private equity regions – the US, Europe and Asia – will operate on the basis of their own rules.
In addition, and as a consequence of the economic crisis, valuations, refinancing arrangements and exit markets will present the most significant challenges for the sector in the future.
Adveq forecasts that private equity markets of the future will have to operate in a tripolar world. While the concept of private equity originated
Huron Capital Partners has made a significant investment in Maple Leaf Automotive in partnership with its management team.
Huron committed USD30m to close the transaction. Terms of the transaction were not disclosed.
The transaction marks the 45th investment overall for Huron and third investment platform in Canada.
The investment was made through Huron’s most recent private equity fund, The Huron Fund III, which has USD350m in fresh committed capital.
Based in Ontario, Canada, Maple Leaf is a manufacturer of original equipment quality replacement parts for the automotive aftermarket.
Chris Sheeren, a partner at Huron, says: "The management team has developed
Intelleflex, a provider of extended capability radio frequency identification solutions, has received USD8m in funding in the initial close of an investment round led by New Venture Partners.
Earlier round investors Arcapita Ventures, Morgenthaler Ventures and The Woodside Fund also participated.
"We believe that Intelleflex is ideally positioned for compelling success," says Ketan Patel of New Venture Partners, who will be joining the company’s board. "The Extended Capability RFID category they’ve pioneered, with its rich feature set, robust performance, platform flexibility and excellent value, has created leadership opportunities in attractive segments including cold supply chain, reusable transport item management, personnel
Imperial Capital, a full-service investment banking firm, has expanded its institutional research effort with the hiring in its capital structure analysis group of Daniel J. Ward and Kevin Cohen.
Ward has joined as a managing director covering the airlines/transportation and automotive/automotive suppliers/automotive finance sectors.
Cohen has joined as a vice president covering paper/packaging, metals/mining and homebuilding.
Both are based out of Imperial Capital’s New York office.
Imperial Capital’s institutional research group delivers company and industry/sector-level fixed income and equity analysis. In addition, the group publishes macroeconomic industry reports and provides real-time desk analysis.
"We are pleased to welcome these experienced
Platinum Group’s private equity fund has acquired the assets of G.C. Peterson Machinery.
The 80-year-old company distributes and services many brands of woodworking and plastics equipment for cabinet shops, technical schools, millwork companies, and other woodworkers.
The firm’s private equity fund, Platinum Group Holdings II, acquired the assets in a transaction worked out between the previous owners, who had been hurt by the severe recession within the housing industry and customers that have reduced their capital equipment spending.
The fund seeks majority positions in underperforming companies or those in critical transition in need of turnaround capital and management expertise.
"G.C.
Investment boutique Newscape Capital Group has continued its expansion with the appointment of another ex-Aberdeen Asset Management fixed income investment specialist.
Leonardo Da Costa joins Newscape’s core investment team in London as a portfolio manager where he will work alongside chief investment officer Derek Fulton, who he worked with previously at Aberdeen.
In this role he will conduct macroeconomic analysis as well as producing interest rate and yield curve views with specific responsibility for local currency emerging market debt investments. He will also contribute to the asset allocation process for Newscape’s discretionary fund management service.
The news follows the
A significant number of endowments are over-allocated to private equity, according to a survey by Preqin.
The survey of 100 endowments around the world found that 27 per cent of respondents are above their target allocations to private equity, with this figure rising to 42 per cent for the largest endowments with over USD750m in AUM.
Furthermore, only 33 per cent of endowments have made one or more new commitments to private equity funds so far in 2009.
Although 65 per cent of endowments have already made or anticipate making a commitment to a fund in either 2009 or 2010,
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