Babett Carrier

What is a VCT? - 💡Venture Capital Trusts (VCTs) are complementary to the Enterprise Investment Scheme (EIS), in that both are designed to encourage private individuals to invest in smaller high-risk unquoted trading companies affected by the equity gap. 💰💼 Discover our infographic below which offers insights on VCTs and their qualifying conditions. Got some questions? 💬 Get in touch with our team today at [email protected] or for more information on our services, visit our website here ➡ https://lnkd.in/eD27gygE #taxadvice #taxadvisory #tax #taxtips #trusts #vct #venturecapital

4

1 Comment

Join us on Tuesday 19 November for a webinar in partnership with DealCatalyst on bringing esoteric assets to the public market — a key step for growth in asset-based finance. 📈 9fin’s Owen Sanderson will lead a discussion with industry leaders — Tom Cochran, partner in the structured finance group at Latham & Watkins, Matthew Jones, head of EMEA specialised finance at S&P Global, and Gordon Beck, head of corporate & sustainable securitisation EMEA at Barclays Investment Bank. 🚀 Topics include: - Which assets are being financed in private - When and why should issuers shoot for a public deal - How investors look at more esoteric asset classes - Transitioning to public markets smoothly Secure your spot 👉 https://lnkd.in/ebGjpxqK

7

💡 Next week: We are hosting a panel discussion with XA Investments LLC on the ongoing democratization of alternative investments and the novel ways asset managers can access non-institutional capital in the US and Europe. Panelists include Clifford Chance partners Vadim Avdeychik and Paul Van den Abeele, as well as Kimberly Ann Flynn, CFA, Managing Director at XA Investments, Patrick McGowan, Managing Director and Head of Alternative Investments at Sanctuary Wealth and Brendan Cuddihy, Chief Operating Officer at CAIS. Interested? If you're in New York, reach out to Vadim, Paul, Eric Haskell or your Clifford Chance contact to attend. #FinancialInvestors #AssetManagement #FundsAndInvestmentManagement

14

1 Comment

Schulte partner Martin Sharkey shared his perspective on Morningstar DBRS ("Morningstar") recently entering Europe's CLO rating scene, with LevFin Insights. Morningstar is the first new company in 20 years to enter Europe’s CLO market, which has been dominated by ratings from Fitch, S&P and Moody's. Breaking into this established market presents challenges due to various entry barriers. Although most investors are receptive to all rating agencies, banks tend to have preferred partners for arranging their deals. According to CRA 3 legislation, every rated structured finance debt tranche in Europe, including CLOs, must receive ratings from at least two agencies. “Though this requirement is in force, there’s no obligation to appoint a smaller rating agency,” stated Martin. “It just has to be a consideration during the dealmaking process.” The original idea was that the legislation might loosen the grip of the big three ratings firms, he said, but in practice it has not had that effect. Learn more about Schulte's CLO Group: https://bit.ly/3yu2lgV  #SchulteLaw 

10

When a venture fund reaches its end-of-life but still holds active assets, the fund manager must liquidate the positions in order to compliantly wind-up the fund. In our latest article, we discuss the goals, requirements, and risks of a venture fund liquidation process. https://lnkd.in/gqbzmFzk Key takeaways: * Fund managers have both fiduciary duties and contractual obligations to LPs that define the baseline requirements for winding up a fund. Chief amongst the fiduciary duties within the fund liquidation context is the fiduciary duty of care.  * A well-managed fund liquidation process can enhance the firm's credibility and foster future investment opportunities. * A large volume of LPs in a fund and/or a high volume of active positions can complicate the liquidation process. More stakeholders and assets to manage leads to greater coordination costs – disposing of illiquid, private assets is typically a bespoke process. * The most acute risk for fund managers is selling an asset before it significantly increases in value. It is possible to reduce the risk from an LP in case the asset substantially increases in value after the fund sells it by demonstrating that the fund manager exercised its duty of care. Specific examples of ways to do so include pursuing an in-kind distribution to LPs (transferring securities directly to LPs) when possible and undertaking a thorough sales process and documenting it carefully. #venturefundliquidation #venturecapital #venturefundmanagers

2

Mergermarket quoted investment management partner Fadi Samman in its article “PE continuation funds: GP appetite for secondaries faces supply-demand imbalance.” The article discusses how continuation funds are expected to become increasingly prominent as a liquidity option for GPs in the coming years, even as the outlook for private equity exits slowly improves and concerns about a supply-demand imbalance persist. Read more here: https://lnkd.in/ePRwrjcW #InvestmentManagement #PrivateEquity

30

1 Comment

Great webinar with FT Live on the Global M&A Outlook in the EMEA Region. There is a feel of the optimism in EMEA’s M&A landscape, with private equity leading the charge and valuations on the rise. Geopolitical certaintly, growth agenda, and interest rates certainly will provide confidence in the market, therefore, the future is looking really good. #wheredealsaremade #privateequity #mergers

2

We advised Apis Global Growth Fund III SCSp (Apis), a private equity fund managed by portfolio manager Apis Partners LLP, as lead investor on a c. £70m investment in Moneybox, one of the UK’s fastest-growing and most profitable digital wealth management platforms. Moneybox, founded by Ben Stanway and Charlie Mortimer, has rapidly emerged as a leader in the digital wealth space, offering customers a comprehensive suite of products, including saving, investing, home-buying, and retirement planning services. The Hogan Lovells team was led by M&A partners Anthony Doolittle and John Connell. Anthony commented: “It’s been a pleasure to guide the Apis Partners team on this transaction which will see Moneybox enter into the next stage of its journey. Moneybox has achieved fantastic growth, and we wish the team all the very best for the next phase with Apis Partners as a strategic investor and partner.” Read our press release: https://lnkd.in/e9Mjm-qF #Growth #FinTech #DigitalWealth #WealthManagement #ApisPartners #Moneybox #VentureCapital

33

1 Comment

VCJ's guide to VC secondaries has been updated with an additional 18 firms with a combined total of nearly $66bn in dedicated secondaries capital. Explore the the guide here: https://okt.to/nOubcI #VCJ #VentureCapital #Secondaries #Europe #NorthAmerica

1

The latest monthly report from Phenix Capital Group shows growth of more than 10% in both the number of infrastructure impact funds on its database and the amount of capital raised by them over the last year, writes Ian Lewis. #impactinvesting #infrastructure #realassets https://lnkd.in/ewzizs_U

5

2 Comments

Key Highlights: In their groundbreaking book, The M&A Failure Trap, Baruch Lev and Feng Gu reveal why 70%-75% of mergers and acquisitions (M&A) fail to deliver their promised value. Here are some key takeaways: Common Pitfalls: Overconfident executives, misaligned incentives, and a resurgence of conglomerate acquisitions often derail M&A success. Data-Driven Insights: Based on 40,000 transactions over four decades, the book provides a detailed analysis of why most M&As underperform. Practical Framework: The authors present a 10-factor model to help investors and companies assess the viability of M&A deals. Case Studies: The book features examples of both successful and failed mergers, offering invaluable lessons for business leaders and investors. This is a must-read for anyone looking to navigate the complex world of M&A with confidence and foresight. #MergersAndAcquisitions #BusinessStrategy #CorporateFinance #BookReview https://lnkd.in/d346aVHV

3

1 Comment

Colbeck Capital Management Partner and Head of Investment Team, Rob Gallivan, recently spoke with Opus Connect to discuss increasing appetite for direct lending solutions and opportunities for unsponsored companies in the middle market.   You can read the full article here: https://lnkd.in/dCtgx7ne   #PrivateDebt #DirectLending #MiddleMarket #Investing

38

1 Comment

#Family_offices Family offices in North America allocate 35% of the average portfolio to private equity, the highest regionally, according to the UBS Global Family Office Report 2024.  In its latest report, UBS surveyed 320 single-family offices globally with an average net worth of $2.6bn and covering over $600bn of wealth.  By region, family offices in North America allocate 35% of the average portfolio to private equity and 8% for hedge funds; in Latin America, 18% and 2%; in Switzerland, 18% and 3%; in the rest of Europe, 22% and 4%; in the Middle East, 27% and 5%; in North Asia, 18% and 6%; and in Southeast Asia, 19% and 5%. https://lnkd.in/gYA_BMuG

7

Whitelists are cropping up everywhere in conversations with European leveraged loan investors. 9fin's Chris Haffenden, MBA CMgr FCMI and Michelle D'souza answer the most pressing questions around them in a two-part report. With insights from Allen & Overy's Nick Charlwood and Megan Lawrence, alongside European Leveraged Finance Association's Sabrina Fox (part two) Link in the comments 👇 #debtcapitalmarkets #leveragedfinance #finance

5

1 Comment

We recently published our first Responsible Investment Report – an important milestone for us as a firm. The report outlines the efforts EMK and our portfolio companies have made over the past year in advancing sustainability.   You can read the full report below.   #ResponsibleInvestment

14

1 Comment

Vedder Price is pleased to share its role as legal counsel to Virgin Atlantic in connection with a structured financing transaction in May 2024. The transaction led by Neil Poland and Joshua Alexander with assistance from Jack Goold, provided Virgin Atlantic with its final Airbus A350-1000 aircraft, which will be integrated into the company’s core aircraft fleet. For further details on this successful transaction, read more at the link below. #VirginAtlantic #GlobalTransporationFinance #AviationFinance

45

Apax Partners, a private equity firm, agreed to acquire professional services business of Evelyn Partners Group, a provider of wealth management, professional services, online investing and fund solutions. Financial terms were not disclosed. You can submit deals you were involved with here: https://lnkd.in/d_Firwmh “The exciting transaction we have announced today is very positive for both businesses. Importantly, we are committed to a strong, ongoing relationship so our mutual clients will see complete continuity in the teams that support them. Plans for an orderly separation are well advanced and I am grateful to the many colleagues across both businesses who have been involved in this. As well as being positive for our clients, the transaction will also create value for our investors, including the many colleagues who are shareholders," Paul Geddes, Evelyn Partners CEO. Apax (led by Frank Ehmer) is advised by Jefferies and Nomura. Evelyn Partners Group (led by Paul Geddes) is advised by Evercore and Macfarlanes. #MergersAcquisitionsDivestitures #PrivateEquity #FinancialServices

12

GP Profile: AnaCap Financial Partners on maintaining a singular sector focus Real Deals chats with managing partner Nassim Cherchali about specialism versus generalism in private equity and his upcoming projects Read more here: https://lnkd.in/evXiQJJn #Deals #PrivateEquity #Europe #Finance #Funds

122

2 Comments

Managing Partner Nassim Cherchali sat down with Real Deals to provide a valuable insight on how AnaCap's exclusive focus on the financial ecosystem has proven advantageous through leveraging deep sector expertise to drive value creation and achieve impressive returns. Nassim further discusses AnaCap's focus today on services, software and technology within the financial ecosystem as well as deal activity, portfolio management, exits and fundraising.

58