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Investment banking boutique Chestnut Hill Partners has appointed Ryan Jon Orner as a director to manage and oversee the firm’s increased activity in targeted search engagements across middle market companies.
Additionally, he will be involved in all other aspects of Chestnut Hill Partners’ transactions including merger and acquisition origination, co-investment opportunities, and advisory services.
Paul L. Schaye, founding partner and managing director of Chestnut Hill Partners, says: “Ryan brings a unique and powerful combination of transaction experience and relationships across our middle market private equity target market. Ryan’s market knowledge and insights will be additive to the firm and valuable
David Cooke (pictured), a partner in the corporate department of Conyers Dill & Pearman in Bermuda, says that limited partners could find themselves exposed to unlimited liability in jurisdictions other than that in which the limited partnership is established – but a recent legal development in Bermuda can resolve the issue.
When is a limited partner’s liability potentially unlimited? One answer may be whenever the limited partnership operates outside its jurisdiction of formation – unless care is taken at the time of its formation.
Limited partnerships are established in many jurisdictions, often for the purpose of investing or carrying on
Citadel Capital, a private equity firm in the Mena region, has acquired a controlling stake in two firms in the solid waste management sector.
The Egyptian Company for Solid Waste Recycling (Ecaru) and the Engineering Tasks Group (Entag) are managed as one firm and will be grouped under a single holding company that will serve as the core of Citadel Capital’s platform investment in the solid waste management sector.
The new company, Entag Holding, will be Citadel Capital’s 18th platform company.
“We are absolutely delighted to announce the creation of our 18th platform investment, which will be controlled through
Butterfield Fulcrum, an independent alternative fund administration company, has partnered with MindTree, a global IT solutions company, to deliver technology solutions for the alternative fund administration industry.
Butterfield Fulcrum has deployed technology to provide greater flexibility, transparency and control to its customers who include hedge funds, fund of funds, managed accounts, private equity funds and real estate funds.
The most recent step is the firm’s proprietary enterprise management system, a technology application developed in collaboration with MindTree that tracks and controls all customer operations at Butterfield Fulcrum’s offices in eight countries.
“In the complex and highly sophisticated segment of financial
HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam, had an estimated net asset value of USD656.4m, or USD7.91 per share, as at 31 October 2009.
This represents a 0.6 per cent increase from the 31 July 2009 unaudited NAV of USD652.0m, or USD7.86 per share.
Between August and October, 15 of HarbourVest’s underlying portfolio companies completed IPOs, including Avago Technologies, one of its 25 largest holdings.
The company will benefit from the sales of approximately 30 companies during the period, as well as additional announced acquisitions that have not yet closed.
Since the end of October
Investment banking boutique Chestnut Hill Partners has appointed Michael W. Jalbert as a managing director.
Jalbert’s (pictured) primary responsibility will be to manage and oversee the firm’s executive sponsorship programme, which makes it possible for seasoned operating executives to participate in the development of private equity transactions and ultimately to run the acquired companies.
Paul L. Schaye, founding partner and managing director of Chestnut Hill Partners, says: “Throughout his career, Michael has displayed an outstanding business sense and a keen eye for talent. His knowledge of the best of the best within various business functional areas allows him to match the
International law firm Dechert has appointed Olivier Dumas as a partner in the financial services practice group in Paris.
Prior to joining Dechert, Dumas (pictured) was a partner at Proskauer Rose where he was co-head of its Paris office’s private equity team focusing on fund formation.
Dumas advises on all tax and legal aspects of fund formation, the creation of management companies and financial regulatory matters. He is a member and adviser – currently on training matters and previously on ethics matters – to the French Private Equity Association. He is also a member of the European Venture Capital
Elevation Partners, a private equity firm focused on large-scale investments in consumer and technology businesses, has hired Rajiv Dutta as a managing director.
Dutta (pictured) brings to Elevation more than 25 years of senior operational and investment experience in consumer and technology businesses.
Most recently, he served as executive vice president of eBay and president of eBay Marketplaces.
In his new role, Dutta will work with Elevation’s five co-founders and the rest of the Elevation team to evaluate investment opportunities, advise the senior management of Elevation’s portfolio companies, and drive the overall strategy of the firm.
Fred Anderson, managing director
Private equity firm Global Environment Fund has completed an investment of USD46.3m in Greenko, which is based in Hyderabad, India.
Greenko is one of India’s largest independent power producers focused exclusively on renewable energy generation through the development, acquisition, construction, and operation of run-of-river hydro and biomass-fired plants.
GEF is the only non-public investor and holds two seats on the board of directors of the company’s Mauritian subsidiary.
GEF’s investment will accelerate the company’s growth objectives as it addresses the massive shortfalls in power supply needs in India in the coming years.
Anil Chalamalasetty, chief executive of Greenko, says: “We
Dubai-based private equity firm Abraaj Capital Group has agreed to acquire Amman-based Riyada Ventures as part of a major push by Abraaj into the small and medium enterprise space.
Riyada Ventures, whose track record encompasses more than 25 regional and international venture capital transactions, also operates an office in Cairo.
Its founder and chief executive Khaldoon Tabaza has worked in the Mena venture capital industry since 2000, prior to which he set up several high-growth entrepreneurial ventures.
Riyada Ventures will be integrated by Abraaj into its newly launched regional SME and entrepreneurship initiative. Tabaza will continue as the chief executive
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