European Fund News: Exane, Julius Baer, Edifice Capital

Exane suffers from its ties with BNP Paribas
The investment company Exane, last year, renewed its partnership agreement, signed in 2004, by which BNP Paribas took half of the capital and conferred to Exane the exclusive intermediary role for European equities. The managers and employees still holding the other half of the capital might regret this deal as Standard & Poor’s has decided to lower the long term rating of BNP Paribas(by one notch to double A minus from double A) because of disturbances on refinancing and the negative sentiments in the markets. S&P also expects that BNP Paribas and other French banks to report lower earnings. While BNP Paribas group still remains among the top rated , difficult funding conditions in markets weakened its financial profile, and that cause Exane to suffer as well. Moody’s has lowered the rating of the brokerage firm, Exane, from a3 to Baa1 to reflect its dependence on the group for the majority of its working capital needs.

Six Months Later: USMI, SNDS, BNPC

Julius Baer in expansion
Julius Baer is in interested in acquiring the controlling stake in private bank Sarasin whose majority shareholder is the Dutch Bank Rabobank. It is reported that Julius Baer Group already made a bid for the Swiss private bank Sarasin.

Meanwhile, Julius Baer is accelerating its expansion in Asia in alliance with Macquarie. The Swiss bank will rely on banking business of the Australian group. In return, the private banking unit, Macquarie Private Wealth Asia, will be bought by Julius Baer. The establishment Zurich employs about 500 people in Asia,

Edmond de Rothschild sells Private equity Select
According to Agefi and FT, Edmond de Rothschild sold its private equity fund of funds business to management, specialized in the funds of SME (small medium sized enterprises) as it tries to meet to tighter capital requirements as a result of changes in the regulatory and market environment.

David Seligman, based in London, a former SG Warburg banker, have bough Rothschild’s 75 per cent stake in Private Equity Select held by La Compagnie Financière Edmond de Rothschild Banque SA, an investor in small European buy-out funds with $277m in assets under management. The fund will be renamed Seligman Private Equity Select.

Edifice Capital Launches 3 PPP(partnership of public-private) Pan-African Fund
Edifice capital, Management Company dedicated to infrastructure funds, active in euro zone area but also in Morocco, Mediterranean countries, Central and West Africa.
In the North African market infrastructure, Edifice Infra Morocco has just completed its first investment in mining silica sand. In addition, Edifice Capital will launch two pan-African funds by the end of the year: an agricultural fund and an infrastructure fund with sponsor as a sovereign fund. An initial investment in the agricultural sector in Africa, a plantation and processing plant of Stevia (natural sweetener with 0 calories), with the Stevia Growers Group International was recently made

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!