Irving Place Capital, a middle-market private equity firm, has added Michelle Pearlman as senior advisor. She joins from Sears Holding Corp., where she was a senior vice president and president of the jewelry business unit. Previously, Pearlman worked as an executive vice president with Ann Taylor Inc. At Irving Place, she will help the firm’s portfolio companies with consumer marketing, retail operations, merchandising, e-commerce and digital and social media strategies.
2 min read · 09 August 2011
Buyout firm Ratos has named Kristina Linde head of accounting, effective October 1. Linde has been with the firm for almost two years, and has been in charge of group accounts at the firm since January 2010, Ratos said in a written release. Earlier in her career, Linde worked as public accountant and accounting specialist at KPMG and as an auditor with the Swedish Tax Agency.
2 min read · 09 August 2011
Brazilian tourism company CVC, which is owned by buyout shop the Carlyle Group, is planning to sell shares in an initial public offering, Reuters reported. Specific details, including the size of the offering, are not yet released. The proceeds of an offering would go to shareholders, Reuters said. Itau Unibanco, Morgan Stanley & Co., Bank of America Merrill Lynch, BTG Pactual and JPMorgan Chase & Co. were hired to manage the transaction.
1 min read · 09 August 2011
U.S. private equity firm TPG Capital, Russia's VTB Capital and the European Bank for Reconstruction and Development have agreed to a $1.1 billion deal to acquire 44% of Russian retailer Lenta, Reuters reported. The firms will buy the St. Petersburg-based Lenta from its majority owner, August Meyer. The deal values Lenta at $2.6 billion.
1 min read · 09 August 2011
Ashley Stewart, a maker of plus-sized clothing for women, has named Celia Clancy as its president and chief executive. Clancy was previously president of AJ Wright, and also worked as a senior operations consultant at private equity firm Cerberus. Ashley Stewart is based in Secaucus, New Jersey. Buyout shop GB Merchant Partners acquired Ashley Stewart in late 2010. Financial terms of the deal were not released.
3 min read · 09 August 2011
Rockefeller Financial has named Jeffery Moy head of private equity. Moy will oversee of Rockefeller Financial's private equity and venture capital program, including the selection and review of third-party managers, the review of client private equity portfolios and new business development, the firm announced. Moy was most recently a Senior Managing Director at Liberty Mutual Investment Advisors.
2 min read · 09 August 2011
Twitter has acquired Bagcheck, creator of a list-making and sharing platform, the company announced. As part of the deal, Bagcheck co-founder Sam Pullara will join Twitter’s engineering team. Terms were not released. Bagcheck’s site allows people to create and share collection – or “bags” – of items they are interested in, ranging from camera equipment to cooking tools. Bagcheck was supported by Sutter Hill Ventures and Morado Ventures, as well as individual investors Jonathan Katzman and Peter Fenton.
2 min read · 09 August 2011
Platinum Equity has acquired publishing software maker Quark, the firm announced Tuesday. Terms of the deal were not released. The decades-old company is probably best known for its QuarkXPress software. Quark is based in Denver, Colorado. Platinum Equity is based in Los Angeles.
3 min read · 09 August 2011
Apollo Global Management said that its second quarter earnings rose thanks to its private equity unit, Reuters reported. The firm said that economic net income -- a measure used by private equity firms -- was $140 million, up from $23 million a year earlier.
1 min read · 09 August 2011
Kaiser Permanente Ventures has added two new limited partners, bringing its current fund to $170 million, the firm announced. It has also expanded its team, adding Sam Brasch as a director and Yan Pu as an analyst. Brasch was most recently at Frazier Healthcare Ventures. Pu worked previously in life sciences and healthcare strategy consulting with IMS Health and Navigant Consulting. Kaiser Permanente Ventures invests in medical device, health care service, diagnostic and drug delivery.
1 min read · 09 August 2011
