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Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is set to make its sixth portfolio company exit in 12 months with the approval from AMMC, the Moroccan Capital Market Authority, for an IPO of Akdital Group in December 2022.
Akdital Group, one the largest private clinics group in Morocco, is launching an IPO at the Casablanca Stock Exchange in mid-December enabling Mediterrania’s partial exit. The capital increase will support Akdital’s geographical and medical services expansion maintaining the fast pace set during Mediterrania’s 3-year tenure.
While Mediterrania’s
Pictet Asset Management (Pictet AM) continues to strengthen its Fixed Income offering with the recruitment of four private debt specialists. The new Private Debt team is headed by Andreas Klein in London, who joined Pictet AM in early 2022.
Private equity investors Astorg and Epiris have formally completed their £1.66 billion acquisition of Euromoney Institutional Investor with a split of the company between the two investors now set to begin according to a report by Press Gazette.
Venture capital major Sequoia Capital has apologised to investors for the loss for its entire $150 million investment in failed cryptocurrency exchange FTX, according to a report by Private Equity News.
The firm was forced to write down the investment in its entirety after the sudden collapse of Sam Bankman-Fried’s digital assets empire after is struggled to meet a wave of withdrawals.
The report cites unnamed sources as revealing that the apology came during a call to investors with Sequoia announcing plans to tighten up its due diligence process for future investments saying it believed it had been misled by
Private equity firms and other alternative managers handling unlisted assets have been warned by the Net-Zero Asset Owner Alliance, whose members represent more than $11 trillion in assets, not to fall behind the rest of the investment industry in reducing financed emissions, according to a report by Bloomberg.
The report cites a recent report published by the United Nations-convened alliance, whose list of members includes Aviva Plc, California Public Employees’ Retirement System and Swiss Re AG, as revealing that it is calling on private asset managers to “raise their level of climate ambition”.
The alliance has highlighted what it sees
Abris Capital Partners, a specialist private equity investor focused on the ESG transformation, has supported Scanmed, a Polish healthcare business, in acquiring Ars Medical, a specialist in cancer care treatment in Poland.
ADIA and SC Capital have formed a new partnership to invest up to $2 billion in data centres across the Asia-Pacific region, according to a report by Bloomberg, with the investment programme to be managed by SC Zeus Data Centres, a pan-Asian platform developed by SCCP in February.
In addition, ADIA will also invest in SC Capital’s pan-Asian opportunistic investment strategy fund.
The investment programme will focus on investments in Japan, Singapore, South Korea and Australia.
ADIA, one of Abu Dhabi’s two sovereign wealth funds, manages assets in excess of $708 billion, while SCCP has been investing across the Asia
Private funds partner Ajay Pathak has been appointed as the next London co-chair at law firm Goodwin Procter, according to a report by Law.com. The appointment comes as the firm is seeking larger premises to accommodate its expansion in the UK capital.
Pathak, who succeeds Paul Lyons who is standing down after a long tenure, will join current co-chair private equity partner Gemma Roberts who took on the role last year.
Pathak joined Goodwin as a partner in the private equity group in 2017 from King & Wood Mallesons, having spent 15 years at KWM, until the firm collapsed in
Stefano Cocirio, an associate portfolio manager at Elliott Advisors is to quit the US activist hedge fund to take up the role of chief financial officer at Italian Serie A football club AC Milan, according to a report by Il Sole 24 Ore.
The appetite for private assets is insatiable and the current confluence of factors in the marketplace means it will continue to remain so for the foreseeable future. In this context, managers are looking to rely more heavily on their service partners, especially in the realms of automation and cross asset class services to support their deeper foray into this space.
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