North America

China lays groundwork for offshore RMB funds

The Chinese government has released a circular on RMB cross-border foreign direct investment, in effect providing RMB funds raised offshore a clearer path into mainland investment opportunities.

FIG deals present ‘once in 50 years’ opportunity

Discounted valuations for financial services providers offer potential returns that outpace all other industries, according to a new study by Corsair Capital.

Wayzata to launch third distressed fund

The firm is understood to be pre-marketing its third vehicle, which will target slightly less than Wayzata’s second fund that raised $3.3bn in 2008.

Carlyle bulks up communications team

The Carlyle Group, which has grown its assets under management 43% since last year, has hired Neuberger Berman’s Randall Whitestone as director of communications for the Americas.

New Silk Route’s Gupta faces FBI charges

New Silk Route has been dealing with the scandal involving its co-founder, Rajat Gupta, all year. This week the US FBI arrested and charged him with insider trading.

NYC to make $2.5bn in annual commitments

CIO Larry Schloss (pictured) and private equity head Barry Miller are working to re-position the $120bn system's programme to commit more money to fewer managers.

SEC makes key hire as remit increases

The US Securities and Exchange Commission has appointed a chief for its examination programme, a 450-strong team of lawyers and accountants responsible for inspecting registered investment advisors, soon to include PE firms.

ECP makes African telecom towers play

Emerging Capital Partners has invested $32m in Africa’s telecoms sector, hoping to capitalise on a growing population and increasing consumerism in the region.

KPS targets Asia exposure with deal

The firm’s investment in industrial thread company American & Efird aims to capitalise on high-growth markets in China and India in addition to the US.

EVCA Conference: Macro issues distorting market realities

LPs and GPs urged people to focus on the micro opportunities in Europe’s mid-market during the EVCA Mid-Market Forum in Budapest, whilst criticising political leaders for the way they have handled the economic crisis.