Solutions
For those wishing to set up a standalone Alternative Investment Fund, getting the right service providers in place is crucial to the manager's long-term success and reputation. The following sections detail what to look for when it comes to appointing four key service providers:
• The Fund Administrator
• The third party AIFM
• The depositary
• The Prime Broker (for hedge funds).
Onshore depositary
"An AIFMD Depositary Bank is tasked with: oversight of assets, activity, and the manager; safekeeping of assets (where required); cash flow monitoring; strict liability for restoration of lost financial assets and reporting breaches. In short,
Nasdaq welcomed a combined 176 new listings – including 68 initial public offerings (IPOs) – in the first half of 2016 to its US and Nordic exchanges, maintaining its position as the leading global exchange venue.
This includes DONG Energy – the largest IPO of 2016 YTD across global exchanges – and a record number of 13 company listing transfers from NYSE.
Despite a global market under pressure from a combination of economic and political uncertainty, companies from a diverse range of industries and geographies successfully launched their IPOs on Nasdaq's US and Nordic exchanges, raising USD3.8 billion and
Silverfleet Capital, the European private equity firm, has sold Cimbria, a Danish-headquartered manufacturer of equipment and processing lines for seed and grain, to AGCO Corporation (AGCO) for approximately EUR310 million.
Cimbria, headquartered in Thisted in Denmark, is a leading global manufacturer of equipment used for seed processing and post-harvest grain handling. It has four production facilities in Denmark, Austria, the Czech Republic and Italy, and employs approximately 900 people globally.
Silverfleet acquired Cimbria in April 2013 having identified the potential to build an international leader of scale in the seed and grain-processing sector. Silverfleet recognised that Cimbria’s products are
Eversheds has advised Steelite International, the GBP100 million-turnover ceramics manufacturer, on the sale of the company to US Private equity house, PNC Riverarch.
The Eversheds corporate team was led by partner Catherine Eley, with support from associates James Finney and Peter McHugh.
The acquisition by PNC Riverarch, the private equity arm of the PNC Financial Services Group, provides an exit for chief executive Kevin Oakes.
John Miles has now been appointed Steelite chief executive.
European special situations investor Perusa Partners Fund II (Perusa) has sold its majority stake in Swedish Cyber Security firm Coresec Systems to Investcorp and to Investcorp’s portfolio company SecureLink Group NV.
Coresec Systems AB (“Coresec”) is one of Scandinavia’s largest managed cyber security service providers with sales of SEK 850m (EUR 90.5m). Today, Coresec offers integrated cyber security solutions and managed services to corporates and institutions across Northern Europe and the Benelux. With more than 250 employees across seven offices and multiple 24/7-manned Network & Security Operation Centres, Coresec’s security experts provide security advice and hands-on assistance to a demanding
Riverstone Investment Group is to become a 50 per cent partner in the Utopia Pipeline Project.
To acquire its ownership interest, Riverstone agreed to an upfront cash payment provided at closing, consisting of reimbursement to Kinder Morgan Investment (KMI) for its 50 per cent share of prior capital expenditures related to the project and a payment in excess of capital expenditures to recognise the value created by KMI in developing the project to this stage.
In addition to the acquisition of the existing assets, Riverstone has agreed to fund its share of future capital expenditures necessary to complete construction and
Henkel Consumer Goods is to acquire The Sun Products Corporation (Sun Products), a Vestar Capital Partners V portfolio company. The transaction is valued at USD3.6 billion.
Sun Products, based in Connecticut, has a portfolio of iconic laundry and household brands, such as all, Sun, Wisk, Snuggle and Sunlight. The company also develops and manufactures laundry and dish care brands for leading retailers in North America. In fiscal 2015, the company generated sales of approximately USD1.6 billion in the US and Canada. Sun Products employs approximately 2,000 people.
“This transaction is a major strategic move for Henkel. North America is one
Invest Europe has appointed Dr Gerry Murphy, Senior Managing Director and Chairman of Blackstone Europe, as Chair of the Association. He succeeds Max Römer, Founding Partner of Quadriga Capital.
Murphy has been a senior figure in Blackstone’s team in London since joining the US alternative investments manager in 2008. His primary focus is on supporting the firm’s activities across Europe and Asia. He serves as a director of German clothing group Jack Wolfskin, Dutch administrative services firm Intertrust and British television and internet retailer Ideal Shopping Direct. He is also a non-executive director of British American Tobacco.
Murphy says:
Audax Private Equity (Audax) has completed the sale of Integrated Supply Network “(SN) to Freeman Spogli & Co (Freeman Spogli), a private equity firm based in Los Angeles, California, in conjunction with management and other investors.
Terms of the transaction have not been disclosed.
Headquartered in Lakeland, Florida, ISN is an independent distributor of tools and equipment sold into the aftermarket automotive repair industry. Since Audax’ initial investment in ISN in 2011, the Company completed eight acquisitions, expanding ISN into new geographies, including Canada and the United Kingdom, new sales channels and end-markets, and adjacent product categories.
Geoffrey S Rehnert,
Inflexion Private Equity has sold CMO, the enterprise health, safety, environment (HSE) and governance, risk, compliance (GRC) software solutions business, to Mitratech, a US-headquartered global software provider, backed by TA Associates.
Financial details of the transaction have not been disclosed.
CMO serves blue-chip customers which include Maersk Group, KPMG, Heathrow Airport and BHP. Operating in a large, global market, which is enjoying double digit annual growth, demand for CMO’s products is driven by an increased need for configurable compliance software, increasing regulation as well as the increasing cost of non-compliance.
Mitratech, which provides software solutions to corporate legal departments,
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
