Fund firms support Equities Consolidated Tape – EFAMA
The European Fund and Asset Management Association (EFAMA) announced that 18 European buy-side firms including Baillie Gifford, Legal and General, Schroders, Union, Generali and Invesco…
EIB and illimity in €200m Italy SME investment
The European Investment Bank (EIB) and illimity Bank S.p.A. have concluded an agreement worth €200 million aimed at supporting the working capital and liquidity needs of small…
45% of European VC investments disappoint – report
A new report by a group of European business schools shows that 45% of European venture capital (VC) investments fail or do not secure returns…
Wealth managers to drive private market assets
European asset managers that can develop innovative private asset products for private wealth channels are set to attract significant business over the next three to…
KKR closes its biggest European buyout fund at $8bn
By Mark McSherry US private equity giant KKR has announced the final closing of European Fund VI — which at $8 billion is KKR’s largest…
UBS brings back Ermotti to fix Credit Suisse takeover
UBS Group announced that Sergio Ermotti is returning to the Swiss bank as chief executive officer to oversee the complicated acquisition of Credit Suisse Group….
Swiss regulator defends $17bn bond wipeout
By Mark McSherry Switzerland’s financial market regulator FINMA has defended its decision to impose huge losses on some of Credit Suisse bondholders — arguing that the decision…
Brookfield buys out KKR at X-ELIO, Spanish solar firm
By Mark McSherry Investment firm KKR said it agreed to sell its 50% stake in Spanish renewable energy company X-ELIO to its joint venture partner…
Central banks act as UBS buys Credit Suisse
Central banks took collective action on Sunday to prevent a banking crisis from spreading as Swiss authorities persuaded UBS to buy Credit Suisse for about…
Credit Suisse borrows up to $54bn to avert crisis
By Mark McSherry Credit Suisse said on Thursday it will borrow up to $54 billion from Switzerland’s central bank to shore up liquidity and investor confidence…
Volkswagen to invest €180bn in electric push
By Mark McSherry Volkswagen said it plans to invest €180 billion over five years — with 68% of the money injected into the “future fields” of…
£581m pulled from equity funds in February
The latest Fund Flow Index from Calastone showed that outflows from global equity funds accelerated in February. The index showed the global mutual funds industry…
Guy Hands: Brexit threatens peace, damages UK
Veteran private equity boss Guy Hands of Terra Firma Capital Partners Limited has warned that Brexit has not only damaged the UK’s financial services industries…
Global debt falls slightly to just under $300 trillion
By Mark McSherry The nominal US dollar value of global debt fell by $4 trillion in 2022 to slightly below $300 trillion — the first…
Joan Mitchell Foundation demands Louis Vuitton pull ads
The Joan Mitchell Foundation (JMF) has sent a cease and desist letter to Louis Vuitton Malletier demanding that the company immediately withdraw its print and…
European exchanges join forces for stocks price feed
Euronext and Deutsche Boerse are among 14 European stock exchange groups — who operate in 26 member states of the EU –that have announced a…
Amundi seeks M&A, launches €600m mortgage fund
Paris-based Amundi, Europe’s biggest asset manager with €1.9 trillion in assets under management, is launching Amundi Commercial Real Estate Loans II (ACREL II), the second vintage…
Ireland’s goods exports rise 26% to record €208bn
The value of goods exports from Ireland in 2022 rose more than €42 billion or 26% to €208 billion, the highest level on record, according…
Summit Partners closes European fund at €1.4bn
Alternative investment firm Summit Partners has announced the first and final closing of its newest Europe growth equity fund. Summit Partners Europe Growth Equity Fund…
EBRD trade programme in record €3.6bn deals
The European Bank of Reconstruction and Development (EBRD) said its Trade Facilitation Programme (TFP) supported its highest ever number of transactions in a single year in 2022….
Global Funds Hit By Record $15 Trillion Fall In 2022
By Mark McSherry The global mutual funds industry in 2022 suffered the biggest fall in assets under management (AUM) since the global financial crisis (GFC)…
EIB launches first sterling-denominated digital bond
The European Investment Bank (EIB) announced it has launched its first sterling-denominated digital bond on a private blockchain, in partnership with BNP Paribas, HSBC and…
European VC investment at two-year low in Q4
Venture Capital investment in Europe plummeted to a two-year low in the fourth quarter of 2022, amidst an environment of high inflation, rising interest rates,…
Highland Europe closes its fifth fund, raising €1bn
Venture capital group Highland Europe announced that it has closed its fifth fund, raising €1 billion to build on its strategy of backing the Continent’s…
M&G raises €578m for European property fund
UK asset manager M&G announced it has raised €578 million for its new continental European residential property strategy. M&G said it has expanded its international…
Women reach 42% on European financial firm boards
The latest EY European Financial Services Boardroom Monitor shows that European financial services firms are “responding to investor expectations” with 50% of board appointments over…
Global securities lending revenue up 6% to $9.9bn
By Mark McSherry The global securities lending industry generated $9.89 billion in revenue for lenders in 2022, according to DataLend, the market data service of…
UK equity funds see record £8.4bn outflows in 2022
The latest Fund Flow Index (FFI) report from global funds network Calastone showed that investors sold a record £8.38 billion worth of UK-focused equity funds…
Irish Government revenue tops €100bn for first time
The Irish government’s total revenue surpassed €100 billion for the first time ever in 2022, rising €8.5 billion or 8.7% to €106.7 billion. Total expenditure…
Meta fined €390m for Facebook, Instagram breaches
By Mark McSherry Ireland’s Data Protection Commission (DPC) has fined Meta €390 million for breaches at its Facebook and Instagram services and said both must reassess…
Speedinvest bets €500m on European startups
Speedinvest, the pan-European early-stage venture capital fund, has raised €500 million of new capital to help European startups scale to international success, with 90% already…
EU to sell €80bn of long-term bonds in H1 of 2003
By Mark McSherry The European Commission announced it intends to sell up to €80 billion of long-term EU-Bonds in the first half of 2023 under…
Volkswagen shareholders approve €9.6bn dividend
Volkswagen AG shareholders have approved a €9.6 billion special dividend following the IPO of its Porsche AG business. The pay out amounts to about 49%…
ECB says interest rates ‘still have to rise significantly’
The European Central Bank increased interest rates by a half-point and ECB President Christine Lagarde told markets to get ready for a series of similar…
EU new car sales up 16% in Nov but still behind 2019
The EU new passenger car market posted rose in November for the fourth in a row, according to the European Automobile Manufacturers’ Association (ACEA). It rose…
European fund assets fall 12% to €28 trillion – EFAMA
By Mark McSherry — Assets under management (AuM) in the European fund management industry fell 11.8% to €28.4 trillion during the first nine months of 2022….
SEC charges Bankman-Fried with defrauding investors
The US Securities and Exchange Commission (SEC) on Tuesday charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX Trading Ltd, the…
Maersk appoints Vincent Clerc CEO
Danish shipping giant A.P. Moller-Maersk said on Monday it has appointed company veteran Vincent Clerc as its new chief executive to lead the group through a…
Santander UK fined £108m over money laundering fail
By Mark McSherry — The UK’s Financial Conduct Authority (FCA) said it has fined Santander UK Plc almost £108 million after it found “serious and persistent…
UCITS, AIF funds see €137bn of outflows in Q3
The European Fund and Asset Management Association (EFAMA) announced that European UCITS and AIFs suffered net outflows of €137 billion in the third quarter of 2022. EFAMA…