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Gabelli Funds has completed the offering of a London Stock Exchange listed closed-end fund, The Gabelli Value Plus+ Trust (GVP), the firm’s first direct entry to the UK investment community.
The fund invests in US equities, utilising Gabelli's fundamental, bottom up Private Market Value with a Catalyst investment approach.
“The UK market is highly sophisticated. We are delighted to be entrusted with the opportunity to grow wealth for the UK investor via the strengths of an investment trust vehicle. The investment trust industry can trace its foundations to the UK, and the LSE’s offering remains a “best in class” choice
Fifth Street Asset Management has closed the Fifth Street Senior Loan Fund I (FS SLF I), a USD309.5 million collateralised loan obligation (CLO).
FS SLF I represents FSAM's initial CLO under management and its pricing was the first for a debut manager in 2015.
FS SLF I is primarily invested in middle market senior secured loans sourced and originated through the Fifth Street platform. The vehicle has a four-year reinvestment period. FSAM sold securities rated from Aaa through Ba3 and retained some of the equity interests and Class F notes. Wells Fargo Securities, LLC served as the Placement Agent.
BGC Partners and GFI Group have entered into a tender offer support agreement in which GFI's board of directors unanimously agreed to support BGC's tender offer for all of the outstanding shares of GFI common stock at USD6.10 per share in cash.
As part of the agreement, BGC shall designate six out of eight directors of the expanded GFI Board. Pursuant to this agreement, BGC has extended the deadline to February 26, 2015, in order to give all stockholders the opportunity to tender in this final extension. BGC exceeded its 45% requirement with nearly 48% of shares tendered, and because
Sub-Saharan Africa is a rapidly growing investment theme and its dynamics will increasingly impact on both Developed and other Emerging Markets. The region is particularly interesting to investors on account of both the demographics, the rate of change of the markets and the low correlation with Developed and Emerging Markets. The May 2000 cover of The Economist carried a picture of Africa titled 'The Hopelesss Continent'. In March 2013 that changed to 'Africa Rising' with a feature concluding that the reforms and investment would soon bear fruit. The time is now as the investment is increasingly coming from International investors
Capricorn Fund Managers, a Johannesburg and London based hedge fund manager, has selected Viteos for a complete middle office services solution on a co-sourcing model.
Capricorn had earlier outsourced its Fund Administration and Middle Office services to BNY Mellon Investment Servicing (International) Limited (BONY). As part of a periodic strategic review, Capricorn initiated an RFP and selection process, separating its middle office provider and fund administrator.
Capricorn looked for its Middle Office provider to:
· Retain Linedata Beauchamp as its portfolio management system which had the entire history for all the funds (earlier provided by BONY)
· Put in a
Administration and corporate services firm Crestbridge has continued to strengthen its senior team in Jersey with the double appointment of Fiona Wilson and Steven Morrice.
Wilson joins Crestbridge as Director, Corporate and Capital Markets Services, and in her new role will take a lead in further expanding the firm’s growing listings and wider corporate services.
She has a background in law in both private practice and in-house that spans 17 years, including previous experience in Jersey and Australia. Specialising in corporate law, funds, capital markets, and trusts, she brings with her a comprehensive understanding of relevant regulatory laws, codes of
Skënderbeg Funds AGmvK has expanded its range of funds with the launch of four traditional single-manager funds in partnership with Your Wealth AG.
The four sub-funds were launched on 12 January 2015. With this expansion, total AuM of Skënderbeg Funds AGmvK will increase to over USD 80 million. The launch of the new sub-funds follows the success of the multiple award-winning fund of hedge funds, Skënderbeg Fund, which was launched in 2014.
The new sub-funds are:
Skënderbeg Funds AGmvK – European Bond Portfolio
Skënderbeg Funds AGmvK – Global Bond Portfolio
Skënderbeg Funds AGmvK – Strategic Equity Portfolio
Skënderbeg Funds AGmvK
It's crunch time for Greece and the Greek people, says Can Elbi, portfolio manager of the JB Europe Focus Fund at Swiss & Global Asset Management…
It is crunch time for Greece and the Greek people. We have entered the critical last 10 days until the current second bail-out, reform program expires. As we stand today, Greece has until 20 February to request an extension to the existing bailout programme, so that there would still be enough time to pass this through the German, Dutch and Finnish parliaments by 28 February. Without an extension of the program, Greece will certainly
Man Group is to acquire the investment management business of NewSmith, an equity investment manager with USD1.2 billion of funds under management.
NewSmith has offices in London and Tokyo and has four portfolio management teams with 15 investment professionals, investing in UK, European, Global and Japanese equities. The Firm is approximately 60% owned by its founders and senior staff members and approximately 40% owned by Sumitomo Mitsui Trust Bank Limited (SuMi TRUST), Japan’s largest institutional asset manager. Man Group has a long term collaborative relationship with SuMi TRUST which has indicated its strong support for the transaction and the intention
AIFMD has caused Asian fund managers to be more cautious about seeking investment from Europe but Guernsey helps provide a solution, says Dominic Wheatley (pictured), Chief Executive of Guernsey Finance.
Much focus in Europe in recent years has been on the European Union’s (EU’s) drive for increased regulation, principally through the Alternative Investment Fund Managers Directive (AIFMD).
As a result, promoters and investors from further afield have become more cautious about raising money from within Europe because of what they regard as a growing compliance burden and increased costs.
The Guernsey model
However, rather than being part of the problem,
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