uses independent funds to make investments, but the fund economics are so dissimilar from the standard venture capital model that the financial performance of CAPCO
funds does not provide a track record that can be leveraged in the competition for unsubsidized limited partner investments.
The news and information company Reuters Group Plc and the technology systems provider Capco
have formed a 50/50 joint venture.
FIS(TM) (NYSE: FIS), a global provider of financial services technology, has completed the sale of its majority ownership stake in Capco
to funds managed by Clayton, Dubilier & Rice (CD&R), the company said.
Banco Bradesco (BVMF: BBDC4), a banking and financial services company in Brazil, has said that it has entered into a partnership with Capco
, a global consultancy firm focused on the financial sector, to launch its new digital platform - Next.
, the public brand for FIS' management consulting offering, is a global consulting organization specialising in business, digital and technology consulting services for the financial services industry.
The facility is Capco
's first RCF and establishes a more flexible financing structure.
There are "triable issues of fact as to whether defendants knew of, or participated in the fraudulent aspects of the Gen Re and Capco
schemes," the court wrote, "given the nature and degree of their personal involvement in both of the challenged transactions, as well as defendants' responsibilities within the corporation."
The new site is part of CAPCO
's social media plan, including fan pages on FaceBook and an industry blog.
Funds are provided by participating insurance companies who, in turn, receive premium tax credits equal to 100 percent of the amount of their investment, interest income, and in some cases an opportunity to participate in the profits of a CAPCO
Bob Lee, director of the governor's Office of Economic Development and International Trade, which is responsible for CAPCO
, said only $8.3 million of the first $100 million available through the program so far has been invested in job-creating businesses during CAPCO
's first year.
The service will provide a series of middleware and business applications from several companies, including Capco
, Royal Blue and Spiritsoft.
A spokesman for Capco
, one of the firms taking part in the scheme, said: "If just one person is found, we will have been successful."