CDVCA

CDVCA

Bridges Ventures Investment Goes Public

On Monday November 9th, The Gym Group, a portfolio company of Bridges Ventures Sustainable Growth Fund II (Bridges II), made an initial public offering of its stock on the London Stock Exchange, at a valuation of £250million. The Gym’s shares rose to 204¼p on its first day of trading, or 5% above the 195p issuance price.

US Labor Department Releases New Guidance Note on Economically Targeted Investments for Pension Funds

On October 22, 2015, the U.S. Department of Labor (DOL) issued Interpretive Bulletin 2015-01 ("IB 15-01"), which provides clarification on the conditions under which a fiduciary of a plan that is subject to the fiduciary standards of the Employee Retirement Income Security Act of 1974 ("ERISA") may invest plan assets in economically targeted investments ("ETIs"). Put simply, the conditions required for ERISA pension funds to able to invest in ETIs.