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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
MMC Ventures has made a GBP1.2m equity investment in e-trader group.
e-trader specialises in the clearance and overstock sector by offering retailers and manufacturers access to both the trade and consumer markets via one single online platform.
MMC’s investment enabled e-trader to complete its acquisition of koodos.com which adds a designer brand fashion clearance channel to the group’s current business, stockshifters.com.
Ben Richardson, investment director for MMC, says: "MMC saw the opportunity to back a proven entrepreneur and help him develop a business with a new proposition in a large and fragmented market. The management team has impressed us with
The sale of Transmark Fcx to McJunkin Red Man Corporation, a Goldman Sachs Capital Partners portfolio company, has been completed, creating a global platform for the distribution of pipe, valves and fitting products.
This cross-border transaction is one of only a few significant distribution transactions to be completed since the credit crisis began in September 2008.
Baird, an employee-owned, international investment banking, private equity, wealth and asset management firm, served as the exclusive financial adviser to Transmark Fcx in this transaction. Terms of the transaction were not disclosed.
Baird’s international deal team was led by David Silver, head of
WW Advisors, a UK-based real estate boutique providing investment and financing advisory services throughout Europe, has appointed Jonathan Edmunds as director to originate, analyse and execute deals.
Edmunds brings nine years of experience in real estate and a wealth of experience in the fields of consultancy, debt markets, corporate finance and direct investments.
Prior to WW Advisors, Edmunds worked in the corporate finance division of Lazard, advising listed real estate companies, private equity funds and hedge funds on mergers, acquisitions and asset disposals. He was previously at Deutsche Bank, working in the European commercial real estate group, underwriting real
Och-Ziff Capital Management made a GAAP net loss of USD80m, or USD1.02 per basic and USD1.06 per diluted class A share, for the third quarter ended 30 September 2009.
This compares to a GAAP Net Loss of USD69.4m, or USD0.94 per basic and USD1.07 per diluted class A share, for the 2008 third quarter. The primary drivers of the year-over-year increase were a decline in management fees due to lower assets under management and higher compensation expenses.
The GAAP net loss in the 2009 third quarter primarily resulted from non-cash expenses of USD417.5m, associated with the Company’s reorganisation in connection
The International Organization of Securities Commissions’ Technical Committee has published a consultation report on private equity conflicts of interest.
The report proposes a number of principles for the effective mitigation of the potential conflicts of interest encountered in private equity firms, and the risks these conflicts pose to fund investors or the efficient functioning of the market.
The report examines the material conflict of interest risks encountered at each stage of the life cycle of a typical private equity fund, managed by a multi-fund, multi-strategy firm, and sets out the potential and common methods for mitigating these potential conflicts
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