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XTAL, a fintech focused on the global private market industry, has launched the Private Fund Forward Exchange (PRIFFE), an institutional derivative risk transfer platform for private market fund interests.
XTAL says PRIFFE is designed to facilitate risk transfer transactions, like forwards, swaps and OTC option contracts, on unlisted private market fund portfolio allocations, as well as interests in individual funds.
According to XTAL, PRIFFE overcomes the opacity of private fund cash flows and NAVs, by translating them into intelligible bond-like yields, which are exchangeable with derivatives over any future maturity.
Massimiliano Saccone, CFA, XTAL’s founder and CEO, said: “By allowing
HSBC has come to the rescue of UK tech companies facing the prospect of insolvency following the collapse of Silicon Valley Bank, by buying the UK arm of the failed US tech startup lender, according to a report by the BBC.
General Atlantic, a US-based growth equity investor with over $86 billion in assets under management, is expecting private company valuations to fall in the second half of the year as startups begin to to run out of cash, according to a report by Bloomberg.
New Zealand-based infrastructure investor HRL Morrison & Co (Morrison) is in discussions to acquire Ark Data Centres (Ark), which is controlled by activist hedge fund firm Elliot Investment Management, in a deal that cold value the business at around £2.5 billion, according to a report by Bloomberg.
Schroders has received regulatory approval from the UK’s Financial Conduct Authority to launch the first Long-Term Asset Fund (LTAF). LTAFs are regulated open ended investment vehicles designed to enable a broader range of investors, with longer term horizons, to invest efficiently in illiquid and private assets.
Schroders already offers structures which provides investors with access to private assets through its range of listed vehicles, as well as semi-liquid and illiquid structures.
Schrders says it will market the new LTAF to defined contribution (DC) and other eligible investors.
Inflexion has completed the sale of its investment in Mobica, a global software development and integration services specialist, to Cognizant, a US-based NASDAQ-listed business, in a transaction that values Mobica at £250 million.
MentorcliQ, a provider of employee mentoring software, has secured a strategic growth investment of over $80 million from software and technology-focused growth equity investor PSG.
The new funding, which includes participation from existing investors Rev1 Ventures and Plymouth Growth, brings MentorcliQ’s total capital raised to over $100 million.
MentorcliQ supports enterprises globally in launching and maintaining employee mentoring programs aimed at strengthening the foundation of an organisation’s infrastructure – its employee base. The company’s says that clients see an improvement of up to 90% in employee retention for employees who are mentored.
Experience management software provider Qualtrics has confirmed it is to be acquired by a group of investors including Silver Lake and the Canada Pension Plan Investment Board at a $12.5 billion valuation.
Silver Lake and its co-investors, together with CPP Investments, will acquire 100% of the outstanding shares Silver Lake does not already own, as reported last week, including the entirety of SAP’s majority ownership interest.
Qualtrics will become an independent, privately held company, and will continue to be led by chief executive officer Zig Serafin, operating from its headquarters in Provo, Utah and Seattle, Washington.
Global investor services group IQ-EQ has appointed Ilias Georgopoulos as global head of private and institutional asset owners, a key position in the firm’s commercial leadership team.
Georgopoulos has over 25 years’ financial services experience, including more than a decade at senior leadership level and with responsibilities spanning the US, EMEA and APAC. Most recently, he was CEO of Credit Suisse’s MultiConcept Fund Management SA in Luxembourg, where he was responsible for driving growth initiatives, supporting on cross-product, cross segments development and enabling service evolution.
Previously, Georgopoulos was Global Head of Relationship Management, Sales and Marketing at Alter Domus, and
Several VC firms have advised their portfolio companies to pull money from troubled Silicon Valley Bank following a surprise announcement that the bank, a key lender to technology start-ups, was issuing $2.25 billion of shares to bolster its capital position after a significant loss on its investment portfolio, according to a report by Bloomberg.
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