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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,
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
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