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At the end of September Ifina organised seminars for industry professionals in Zurich and Frankfurt to highlight some of the key lessons to emerge from the events of the past 18 months.
In an environment in which investors are less willing to take the honesty, investment expertise and operational efficiency of fund managers at face value, the interaction and collaboration of independent service providers is more crucial than ever to maintaining the appeal of offshore funds to institutions and other sophisticated investors, according to speakers at recent seminars in Zurich and Frankfurt on the outlook and opportunities for the industry in the wake of the financial crisis of the past two years.
The seminars, organised by international fund administrator Ifina and featuring speakers from service providers including law firms, auditors, banks, brokers
One of the guiding principles that has made the BVI the globally respected financial centre it is today is partnership between the private and public sectors. A close spirit of collaboration has enabled the jurisdiction to the requirements of an ever-changing global financial services industry.
This partnership has been all the more crucial following 12 months that have rocked the foundations of the financial industry across the world. Offshore centres have come up against a growing storm of criticism and blame for the wider economic crisis – as opposed to the onshore centres where most of the problems actually arose.
The financial crisis and the Madoff scandal have subjected the fund industry to unprecedented scrutiny.
The economic meltdown of the past two years has seen unprecedented redemptions from funds and other investments and a rush to liquidity – bringing to light a string of scandals including frau
The offshore fund sector, from managers and their service providers to the world’s leading offshore domiciles, has not been left in disarray by the economic and financial crisis that began mo
For fund managers and promoters, banking and administration are key functions that impact directly on the day-to-day administration of the fund.
The economic slump and financial market turbulence of the past two years has focused the attention of investors on the benefits offered by managed futures strategies, which have not only delivered
Global private equity firm The Carlyle Group has invested more than USD60m in three high growth Chinese companies.
The transactions come just four months after the closing of Carlyle Asia Growth Partners IV, the fourth fund of the Carlyle Asia Growth Group, which raised USD1.04bn in 14 months.
The deals comprise investments in Nantong Rainbow Heavy Industry, China Agritech and iTour, all strong performers in their respective sectors of heavy industry, agriculture and consumer.
The transactions reflect investors’ continuing confidence in the Asian markets and their ongoing enthusiasm for investment opportunities in China.
“We are delighted to announce
Venture capital firms Breakaway Ventures and General Catalyst Partners have sold their stakes in Retail Convergence to GSI Commerce.
GSI is a provider of e-commerce and interactive marketing services, while RCI is an operator of the e-commerce business companies SmartBargains.com and RueLaLa.com.
GSI signed a definitive agreement to acquire RCI for approximately USD350m in October.
The purchase consideration comprises USD180m to be paid at closing equally in cash and stock and an additional maximum earn-out consideration of up to USD170m based on the achievement of RCI’s non-GAAP income from operations (Ebitda) of USD51.9m in fiscal year 2012.
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