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Al Noor, the Qatari media group, has launched the USD200m Al Noor Fund, an ethically based fund which will invest in international film projects.
The fund will build a library of film assets by investing in two to three high profile film projects per year over a five year period. It may fully fund these projects, or enter into co-financing, co-development, co-production and/or rights acquisition arrangements with the major studios.
Al Noor, which will act as investment adviser, has already committed USD40m to the fund and is seeking a further USD160m through a private placement with private investors. Al
BNY Mellon has been reappointed by CP2 Investment Management to provide fund administration services.
CP2 manages approximately USD2.1bn in infrastructure and equities funds on behalf of sovereign, pension and long term funds globally.
BNY Mellon’s private equity, hedge fund and fund of hedge fund administration capabilities allow clients to focus on their own core competencies and client relationships.
Richard Rudenko, global head of operations for CP2, says: “We selected BNY Mellon to provide fund administration services due to their experience, scale and institutional quality. In the current economic environment it was important to select a provider with high credit ratings
The biggest bank restructuring deals in emerging Europe reached an estimated USD21.7bn on 27 October, according to research by Debtwire.
BTA Bank led the top ten live, completed and expected bank restructurings in emerging Europe this year with a USD10.3bn restructuring, which will encompass Eurobonds, syndicated and bilateral loans and local-currency bonds.
The company was followed in second place by Alliance Bank, with a USD4.2bn restructuring, Nadra Bank (USD2.1bn), Alfa Bank Ukraine (USD1.05bn) and Parex banka (USD1.01bn).
In March 2009, Parex banka became the first financial institution in the region to restructure its debts when it rescheduled two syndicated
Global Infrastructure Partners, an independent USD5.64bn infrastructure investment fund, has reached agreement to acquire up to a 40 per cent convertible preferred interest in Terra-Gen Power from ArcLight Capital Partners.
Financial details of the investment were not disclosed.
Terra-Gen is a US renewable power generation company that owns or operates over 800 megawatts of renewable power facilities, including geothermal, wind and solar projects across a broad area of the US.
Terra-Gen also has over 5,000 MW of renewable energy projects under development.
Following completion of this transaction, which is expected by year-end, ArcLight and GIP will be partners in driving
The States of Guernsey has welcomed the final report of the Foot Review, which examines the long-term opportunities and challenges facing British Crown Dependencies and overseas territories as financial centres.
Guernsey’s chief minister Deputy Lyndon Trott says: “In my view this report vindicates the position of Guernsey and the other Crown Dependencies. Mr Foot finally confirms the issue that the three Crown Dependencies do provide a positive economic benefit to the UK.
“Once again an independent expert has found Guernsey to be a favourable, compliant and transparent international financial centre, which can offer high quality professional services for the benefit
Dr Bernhard Koehler, CEO of Pfaeffikon-based Swisslake Capital AG, examines the activity of real estate private equity funds (REPE) funds in Q3 2009.
1. Market Overview
In the third quarter of 2009 we have recorded the launch of 67 new real estate private equity (REPE) funds. Although this is an increase compared to the 65 vehicles launched in Q3 08’ the target equity volume decreased by 34.5% to USD24.17 billion. Note that in contrast to Q3 08’ where the geographical allocation of funds was much more diverse, in this quarter European and US funds account for more than 90% of
The State Street Private Equity Index, which includes more than 1,600 private equity partnerships with aggregate commitments of approximately USD1.5trn, posted a return of 5.48 per cent in the second quarter of 2009 after five consecutive quarters of negative returns.
All strategies and geographies were positive contributors during the quarter, with the biggest impact coming from buyout funds and US domiciled funds.
When compared to the Q2 2008 quarterly return, the State Street Private Equity Index increased by 699 basis points, from -1.51 per cent. Since inception IRR as of the end of June 2009 was 9.08 per cent, a
GreenPeak Technologies, a semiconductor company offering ultra low power wireless and battery-free data communication technologies, has closed a series B financing round.
The financing round totalling EUR13m, led by Gimv and Robert Bosch Venture Capital and supported by DFJ Esprit, Motorola Ventures and Allegro Investment Fund, will provide the company with the necessary funds to finance its growth in the coming years.
Cees Links, chief executive for GreenPeak Technologies, says: “Securing new funding in this challenging financial climate shows the market potential of GreenPeak’s technology and applications. We are very proud that a world-class company like the Bosch Group
The Federal Court of Australia has approved the settlement of a compensation claim to clients who were advised by Professional Investment Services to invest in the failed Westpoint Group.
Under the settlement, PIS must pay eligible investors AUD5.9m.
The court approved a distribution mechanism whereby the settlement sum will be distributed equally to group members based upon the total capital that they had invested. This will result in group members receiving 62.5 per cent of the capital they invested.
On 7 September 2009, the Australian Securities and Investments Commission filed an application with the Federal Court in Brisbane seeking final
American Securities, a New York-based private equity firm, has completed its acquisition of GenTek, a provider of inorganic chemical products and valve actuation systems for automotive and heavy duty/commercial engines.
Equity was provided by American Securities Partners V, a USD2.3bn private equity partnership.
GenTek operates through two business segments: performance chemicals and valve actuation systems. The performance chemicals segment provides water treatment products, primarily used by municipalities; various grades of sulfuric acid as well as sulfuric acid regeneration services for the refining and chemical industries; ingredients used in prescription pharmaceuticals, nutritional supplements and veterinary health products; and high purity
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