New York-based Paul Capital Partners has securitised most of the assets in a $300m drug-royalty fund.
1 min read · 12 January 2013
Imported from the US, second lien strips are being increasingly used in leveraged finance transactions in Europe. Paul Mullen, partner in Lovell’s acquisition finance practice explains how they work and the structuring issues they present.
3 min read · 12 January 2013
The co-founder of The Carlyle Group said at a Yale University private equity event that hedge funds currently enjoy advantages over private equity firms in offering financing to companies.
2 min read · 12 January 2013
Private equity securitisation as a fundraising technique had all but disappeared from view. Then two collateralised debt obligations, SVG's Diamond and Tenzing from Invesco Private Capital, braved the market in 2004. Will there be others, asks Philip Borel
9 min read · 12 January 2013
In 2002, Guy Hands took his team of professionals at Nomura Principal Finance Group and spun out from the Japanese securities house. Since then, Terra Firma has raised a multi-billion Euro fund and been trawling Europe for assets. But for Hands there has also been the small matter of growing and managing the business. In January, Philip Borel stopped by the group's new home on the South Bank of the River Thames to ask how things were going
10 min read · 12 January 2013
The Crocus Investment Fund, one of Canada's labour-sponsored investment funds, halted trading and suspended redemptions in December amid concerns about overvalued holdings and general mismanagement. As the fund conducts a controversial internal review, many critics are pointing to Crocus as an example of the ineffectiveness of Canada's LSIF programme
3 min read · 12 January 2013
George Soros announced he is handing over greater control of his $12.8b Soros Asset Management firm to his sons, and is spinning off his real estate, credit and private equity divisions.
1 min read · 12 January 2013
SVG Advisers, the fund advisory arm of London-listed private equity fund of funds SVG Capital, has raised €400m through a collateralised fund obligation (CFO) fund.
2 min read · 12 January 2013
In their quest to find a few good private investments, the professionals of TA Associates make thousands of phone calls and visit hundreds of companies every year. They often arrive at appointments in a private jet flown by the firm's chief executive officer, Kevin Landry. David Snow profiles the industry's biggest proponent of cold calling, and perhaps the only licensed pilot to also manage a private equity megafund
10 min read · 12 January 2013
Venture capitalists take note: Massachusetts wants to open the door to stem-cell research initiatives
3 min read · 12 January 2013
