Logicworks, a provider of enterprise hosting and cloud computing solutions, has named George Kerns as its chief executive officer. Previously, Kerns served as president and chief executive of Fusepoint Managed Services, an enterprise hosting provider. Earlier in his career, Kerns served as president and chief executive of Digex, an enterprise hosting company. Logicworks is backed by investors including New York City-based private equity firm Seaport Capital.
4 min read · 16 June 2011
YuMe, a venture capital-funded video advertising technology company, has moved into Europe with the acquisition of Appealing Media, a London-based mobile video advertising company, YuMe announced Thursday. Terms of the deal were not released. YuMe is backed by Accel Partners, BV Capital, DAG Ventures, Khosla Ventures, Menlo Ventures, and Intel Capital.
3 min read · 16 June 2011
China’s Hony Capital will begin raising its fifth U.S. dollar fund before the end of 2011, Reuters reported. The private equity fund raised one of China's first market-driven private equity funds in 2003. The firm’s Chief Executive John Zhao announced the plans during a press conference Thursday, but did not disclose other details, Reuters wrote.
1 min read · 16 June 2011
Cotton Creek Capital, a Dallas-based middle market private equity firm, has added Antonio DiGesualdo as a managing director. He joins the firm’s two existing managing directors Smith Brownlie III and James Braden. Previously, DiGesualdo was a partner at buyout shop TGF Management Corp.
2 min read · 15 June 2011
Buyout shop Avista Capital Partners has acquired DataBank, a provider of managed data center services, from investment firm Freeman Group, the company announced Wednesday. Financial terms of the transaction were not disclosed. Houlihan Lokey acted as financial advisor to DataBank. Kirkland & Ellis LLP acted as legal advisor to Avista. Avista was formed in 2005, and manages $4 billion of committed capital from offices in New York, Houston, and London.
3 min read · 15 June 2011
An upcoming initial public offering for the Carlyle Group could be worth up to $1.2 billion, Reuters reported, citing news from CNBC. Carlyle is currently holding meeting with with investment banks to pick the underwriters for its IPO, Reuters said.
1 min read · 15 June 2011
Atlanta-based health and weight loss company Sharecare has inked an undisclosed amount of financing from New Evolution Ventures, the company said Wednesday. Created by Jeff Arnold and Dr. Mehmet Oz, in partnership with Oprah Winfrey’s Harpo Studios, HSW International, Sony Pictures Television and Discovery Communications, Sharecare has developed an interactive social platform designed to help people learn about health and wellness.
3 min read · 15 June 2011
Julie Bell has joined San Francisco Equity Partners as a partner. Previously she was a senior investment professional at middle-market consumer private equity firm JH Partners. In her new role, Bell will focus on the consumer products, consumer services and retail sectors, the firm said.
2 min read · 15 June 2011
The Extended Stay litigation trust has sued the Blackstone Group, the Lightstone Group and others involved in the 2007 buyout of the hotel chain, Reuters reported. In a lawsuit filed Tuesday, the trust charged that Blackstone had skimmed $2.1 billion from Extended Stay at the closing of the leveraged buyout, leaving the company under-capitalized and unable to survive, Reuters wrote. Extended Stay filed for bankruptcy protection in June 2009 with more than $7 billion in debt. The firm emerged from bankruptcy more than a year later, with a consortium including Blackstone, Paulson & Co. and Centerbridge Partners buying the chain for $3.9 billion.
2 min read · 15 June 2011
2 min read · 15 June 2011
