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Global Capital Management’s Global Opportunistic Fund I is declaring a distribution, primarily derived from a combination of gains from divestment as well as dividends from portfolio companies.
Post this distribution, the aggregate amount distributed to date would be approximately 30 per cent.
The private equity fund managed by Global invests in late stage private equity opportunities within GCC.
A significant portion of the distribution was generated from partial divestment of DEPA during the current and the last quarter at an IRR of more than 22 per cent on the transaction for the fund.
The other bulk of the
Global Infrastructure Partners, a USD5.64bn infrastructure private equity fund, has entered into a definitive agreement to form a midstream natural gas gathering joint venture with Chesapeake Energy.
As part of the transaction, GIP will make a USD588m cash payment to purchase a 50 per cent interest in a new entity which will include substantially all of Chesapeake’s natural gas gathering assets in the Barnett Shale and the Arkoma, Anadarko, Delaware and Permian Basins.
The new entity, Chesapeake Midstream Partners, will provide fee-based gathering services to both Chesapeake and third-party natural gas producers in these important regions.
Chesapeake and CMP will
Millennium Equity I has made a commitment to bring broadband technology investment to 177 underserved and unserved communities around the world as an engine for sustainable economic growth.
Through their 2009 commitment to action, "Building Community Through Commerce”, Millennium, in collaboration with strategic investment partners such as Gulf Istithmaar, will invest USD371m over five years to provide broadband access to an estimated 5.3 million people.
This investment in broadband technology aims to improve healthcare, education, and public safety in target communities, create sustainable jobs and spur economic growth by increasing revenue generation within the communities.
Millennium announced its commitment at
Argo Capital Management’s portfolio company, On Telecoms, has entered into a definitive agreement to acquire Vivodi Telecom, a Greek telecommunications provider.
On Telecoms is a triple play service provider in Greece offering fixed-line telephony, internet and television services.
Andreas Rialas, chairman of the board of directors at On Telecoms and chief investment officer of Argo Capital Management, says: “This acquisition marks the first and important step towards the consolidation of the Greek telecommunications market. On Telecoms intends to play a leading role in the integration of the telecom and new media sector with additional transactions and partnerships. At Argo we
One-fifth of investment professionals are considering leaving the UK to work elsewhere in the next 12 months, primarily due to the high relative rate of UK tax, according to a survey by CFA UK.
The leading beneficiaries are likely to be Switzerland, the US, Hong Kong and Singapore.
Most members of CFA UK, the UK member society for CFA Institute, hold the chartered financial analyst designation. CFA charterholders are internationally mobile and many of the society’s members hold non-UK passports.
The society recently surveyed its 8,500 members, who are typically portfolio managers and research analysts, to find out if they
DOR BioPharma, a late-stage biotechnology company, has entered into common stock purchase agreements with institutional investors totalling approximately USD3.85m.
DOR’s North American commercial partner, Sigma-Tau Pharmaceuticals, participated in this financing.
Under the terms of the agreements, DOR will sell approximately 15,200,000 common shares together with a five-year warrant to purchase up to approximately 7,600,000 shares of DOR common stock at USD0.278 per share, for an aggregate price of approximately USD3.85m.
The expiration date of the warrants will be accelerated if the company’s common stock meets certain price thresholds and DOR would receive additional gross proceeds of approximately USD2.11m if exercised.
For years commentators have confidently been forecasting that the days of the two-and-twenty model of hedge fund fees were numbered. As the industry grew, they predicted, fee structures would increasingly vary between the best established and best performing managers, which could ask for – and get – two per cent of net assets annually plus 20 per cent or more of all profits, and the growing number of firms with shorter or less impressive track records, which would have to make concessions to investors to win their business.
For years commentators have confidently been forecasting that the days of the
Aureos Latin America Fund is investing up to USD10m in ITS InfoComunicacion, a provider of remote infrastructure management services with headquarters in Costa Rica.
ALAF is an initiative of Aureos Capital, a private equity fund management company specialising in investing in small to mid-sized businesses in emerging markets.
This marks ALAF’s seventh investment in Latin America and its first in Central America.
ITS serves the outsourcing demands of telecommunications operators, government bodies, and Latin American companies. ITS enables its clients to develop and leverage their technology infrastructures.
ITS was founded in 1997 by a group of Costa
Gravitas Technology, a technology and solution provider to alternative investment and financial services companies, has launched The Gravitas Fractional CIO offering to provide strategic information technology guidance to hedge funds.
This is the first fractional CIO service targeted exclusively to hedge funds and private equity firms.
Chief information officers play a critical role at both large and small funds. The CIO is responsible for identifying, recommending and developing technology solutions that control the firm’s internal and external information flows and directly impact fund performance and business efficiency. A CIO is also responsible for ensuring the company’s information technology investments are
Yorkville Advisors, a US based investment manager to a family of funds, has invested USD15m into United Fiber System through the subscription of a series B equity line backed loan note.
The investment was sourced out of Hong Kong and made by YA Global Master SPV, a Yorkville affiliated fund.
Yorkville also entered into an agreement with Unifiber in August 2009 to extend the SGD165m equity line of credit facility between Unifiber and YA Global Investments, another Yorkville affiliated entity, to 2014. The equity line was first entered into by the parties in 2004 for SGD40m and subsequently expanded
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