Veritas, Estonia’s LHV back new €70m Baltic private equity fund

first_imgShe added that Veritas did not usually back inaugural fund launches, but that Livonia was “very well connected within the local economies.”She added: “Building regional champions instead of country-specific winners makes a lot of sense. Economic growth in the Baltic region is among the strongest in Europe and the fundamentals are in good shape.”Kristo Oidermaa, portfolio manager at LHV Pension Funds Oidermaa added that the fund commitment fit well into its existing strategy, allowing it to benefit from growth in the Baltic market.“Our investment strategy has a small home bias and we regard all three Baltic countries as our home markets,” Oidermaa said. “Over the last few years, we have considerably increased our allocation of alternative assets, with commercial real estate and timber and now private equity funds.”Kaido Veske, co-founding partner of Livonia Partners, said that the fund would focus on mature companies with a track record of up to 5 years and an annual turnover starting at €5m, but up to €40m.He added that the fund is looking for companies with an export focus and which were undercapitalized, and that while earnings volatility in the region would still be higher than elsewhere in Europe, the countries in question also boasted higher growth than Europe as a whole. Finnish pensions insurer Veritas and LHV Pension Funds, Estonia’s second largest pension fund manager, are among six investors committing €70m to a pan-Baltic private equity fund.Domiciled in Latvia, the Livonia Partners-managed fund will invest €3-15m of equity and mezzanine capital per investment in up to 12 small and medium-sized enterprises (SMEs) active largely in Estonia, Latvia and Lithuania. The first investments will be made in the next few months, with the possibility that firms in adjacent countries could also receive funding.Livonia Partners Fund I will acquire a blend of majority and minority stakes, acting as a hands-on investor and holding the stakes for around 5 years. Though it has a generalist mandate, the fund’s initial focus will be on manufacturing, business services and consumer companies, reflecting the management team’s experience.The €2.8bn Veritas has committed €5m from its private equity allocation. Ilona Karpinnen, portfolio manager, private equity, Veritas, told IPE: “Livonia fits well into our private equity portfolio, as European small and mid-market buyouts are the backbone of our private equity programme.last_img read more

Franklin County to hold caucus to select new auditor

first_imgFRANKLIN COUNTY, Ind. — The Franklin County Republican Committee is planning on holding a caucus of precinct committee persons to select the next county auditor ton Saturday (1/7).Anyone interested in being a candidate needs to notify Chairperson John Worth in writing.Forms are also available from the County Clerk.The winner of the caucus winner will be sworn in by January 9.last_img

Thiem’s FEAT

first_img– Thiem is the fifth man since the Open Era began in 1968 to come back from two sets down in a major final. He joins Gaston Gaudio (d. Guillermo Coria, 2004 French Open), Andre Agassi (d. Andrei Medvedev, 1999 French Open), Ivan Lendl (d. John McEnroe, 1984 French Open) and Bjorn Borg (d. Manual Orantes, 1974 French Open). In a US Open final, Thiem becomes the first man to come back from two sets down since 1949, when Pancho Gonzalez did the same against Ted Schroeder. – Thiem, 27, is also the first man born in the 1990s to win a Grand Slam title. On the women’s side, players born in the 1990s or later have combined to win 15 majors, including one by a woman born in the 2000s (Bianca Andreescu, 2019 US Open). – This is the first time in men’s tennis that four consecutive Grand Slam finals have gone to five sets (2019 Wimbledon, 2019 US Open, 2020 Australian Open and 2020 US Open). Before this, there had only been two instances of three straight men’s major finals going to five sets (in 1927 and 1946). – Thiem is the second Austrian player, male or female, to win a Grand Slam singles title, after Thomas Muster won the 1995 French Open. Thiem is the only Austrian to make multiple major finals, in which his win-loss record now stands at 1-3. – This was just the second men’s Grand Slam final to feature a deciding-set tiebreaker, after the 2019 Wimbledon final between Roger Federer and Novak Djokovic. Last year was the first time Wimbledon began playing a tiebreaker once the set got to 12-12. – It is the longest span (6 years) between first-time major winners on the men’s side in the Open Era. The previous longest was almost exactly three years between Juan Martin del Potro (2009 US Open) and Andy Murray (2012 US Open). Also Watch: Watch: River Flows Inside People’s Bedroomlast_img read more

Govt grants extended length of stay for Haitians

first_img…will be competing with Guyanese for already limited jobs – trade unionistDespite having thousands of Haitians enter Guyana unaccounted for last year, the coalition Government has sought to extend the time that Haitians spend in Guyana to six months.The letter extending the stay of Haitians in GuyanaThis was detailed in a letter dated January 31, 2019, addressed to Foreign Affairs Minister Carl Greenidge and copied to Minister of State, Joseph Harmon; Citizenship Minister Winston Felix and Public Security Minister Khemraj Ramjattan.The correspondence sent by the President’s Senior Confidential Secretary was titled “Immigration Order 2019”. It noted that under the Immigration Act, Chapter 14:02, amendments were made to “allow Haitian nationals to be entitled to an automatic stay of six months”.The amendment was made by Legal Affairs Minister Basil Williams.This change in the immigration policy comes on the heels of the unaccountability of over 3000 Haitians in Guyana.Already a number for persons are complaining about Haitians being employed at hospitals and in other sectors but being unable to speak proper English. This comes at a time when thousands of Guyanese have lost their jobs and are seeking employment but to no avail.Speaking with Guyana Times on Wednesday, a trade unionist questioned the decision by the Government to grant the extension.“What will they be doing in Guyana? How will they maintain themselves for six months? They obviously have to work and this means that they will be competing with Guyanese for already limited jobs,” the trade unionist added.Haitian migration has long been a troublesome issue.Meanwhile, at a meeting of the Parliamentary Committee on Foreign Affairs back in June 2018, the alarming statistics revealed that thousands of Haitians and Cubans are not only overstaying their time in Guyana but could not be accounted for.On May 23, 2018, Minister Felix wrote the Clerk of the National Assembly and provided statistics of the eight main groups of foreign nationals, including Haitians, with the largest arrival and departure figures for the past five years.The figures showed that Cubans accounted for the largest influx of foreign nationals, followed by Haitians and then Venezuelans after which were Brazilians, Indians, Bangladeshis, Dominicans [from The Dominican Republic] and Chinese.It was noted that as of April 30, 2018, a total of 1238 Haitians arrived in Guyana, but only 85 left the country. In 2017, 3515 Haitian nationals entered Guyana and 291 left, while the year before out of 722 Haitians who came here, only 451 were on record as leaving. There were 770 Haitian nationals who arrived in 2015, 227 in 2014 and 188 in 2013, but only 136, 113 and 99 left the country respectively.Chairman of the Parliamentary Committee, Opposition Chief Chip Gail Teixeira had pointed out that despite Haitians as well as Cubans – 22,520 of whom arrived but only 16,350 departed – speaking a foreign language, they seem to have gotten “lost”.“Both groups are distinctive in terms of language and yet they seem to be lost away,” Teixeira stated.However, the Citizenship Minister had suggested that the thousands of unaccounted-for foreign nationals must have left the country through `backtrack’. Felix had also accused Teixeira of “crying wolf in a crowded cinema” when it comes to the large numbers of Cubans, Haitians and others overstaying their time here and the risk of human trafficking.In the meantime, the Opposition’s People’s Progressive Party (PPP) had claimed that the coalition Government is granting thousands of Haitians and Cubans citizenship, so they get voting rights for the impending General and Regional Elections. But Government had rejected this.last_img