M&G targets €500 mln with its first Eltif
M&G Investments on Monday said it is launching its first European Long Term Investment Fund, known as Eltif, as part of a new 500 million euro private credit strategy. The fund will be known as M&G Corporate Credit Opportunities.
Fund director fees, like costs, squeezed
Average fees paid to directors of investment funds in Luxembourg and Ireland are down significantly when compared to last year in what appears to be a reflection of a shift in the way that funds reimburse their directors, according to a new report issued on Monday.
Ethenea pivots multi asset fund to pure bond strategy
Ethenea has received approval from Luxembourg regulator CSSF to remove equities, precious metals and commodities from its Ethna-Defensiv multi-asset portfolio, transforming the fund into a pure bond strategy.
Of the 280 million euro in the fund, which had had a multi-asset portfolio since 2007, 14 percent is currently invested in European government bonds, 80.5 per cent in high-quality corporate bonds and 5 per cent in high-yield bonds.
CVC Capital now eyes 2024 for new attempt to go public
Luxembourg-headquartered CVC Capital Partners, one of Europe’s biggest private equity firms, on Wednesday decided to postpone its initial public offering on the Amsterdam stock exchange, a person familiar with the decision has confirmed. The firm now is looking for a new opportunity to go public in 2024.
Transfer Thursday: M&G, Fidelity International
This week’s overview of transfers, appointments and promotions includes updates from M&G and Fidelity.
Kathy Ryan
Kathy Ryan (photo) has been appointed as chief sustainability officer at M&G plc. She joins from Irish Life Investment Management, where she was head of responsible investment.
Janiszewski appointed as new COO at Alter Domus
Luxembourg-headquartered Alter Domus, an international provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, has appointed Michael Janiszewski as its new Chief Operating Officer.
Private credit seen as less attractive than public debt
After a dismal third quarter, bond investors are once again turning their attention to fixed income. A survey of European and Asian fund selectors forecasts a heightened demand for this asset class in the upcoming year, particularly with expectations of sustained equity market volatility.
EU voting rights plan lacks balance, Efama says
Representatives of the European asset management industry believe that lawmakers in Brussels need to step up their efforts to make sure that new voting rules for SMEs and scale-up companies strike a balance between the needs of investors and issuers. The proposal is also of importance to private equity firms investing in these companies.
ECB now awaits ‘range of new data’ before next decision
Christine Lagarde, the president of the European Central Bank, on Thursday declined to provide forward guidance on the direction of Eurozone interest rates but said that its decision in December will be made based on updated data on inflation and on the actual economic impact of its monetary policy.
Apex secures $400 mln in term debt to bolster growth
Apex Group on Thursday said it is poised for expansion after having secured 400 million dollar in term debt, aiming to boost liquidity and further organic and inorganic growth. The firm, financially backed by a group of four venture capital firms, is known to be vying for an initial public offering some time in the coming years.