The Carlyle Group has invested an undisclosed amount in Houston-based wealth advisor and asset manager Avalon Advisors. The buyout shop snagged a minority stake in Avalon. Terms were not released. Equity for the investment comes from Carlyle Global Financial Services Partners, a $1.1 billion fund that invests in a range of financial services companies. Existing investor Platform Partners also participated in the financing.
4 min read · 31 August 2011
Tero Ojanpera, an executive with Finnish phone maker Nokia, is departing the company to work for a new venture fund, Reuters reported Wednesday. The fund is called Vision+, and will focus on developing applications for Nokia phones. Nokia will invest an undisclosed amount in the fund.
1 min read · 31 August 2011
Insight Pharmaceuticals, a portfolio company of Swander Pace Capital, has acquired the Monistat North American brand portfolio from McNEIL-PPC Inc. Financial terms of the deal were not released. In connection with the transaction, Ontario Teachers' Pension Plan, through its private equity group Teachers' Private Capital, has joined Swander Pace Capital as an equity investor in Insight. HT Capital Advisors acted as exclusive financial advisor to Insight and Swander Pace Capital.
3 min read · 30 August 2011
Axa Private Equity and LGT Capital Partners have acquired a 620 million euro ($901 million) private equity portfolio from HSH Nordbank, Reuters reported Tuesday. Terms of the deal were not released. The deal is the latest in a string of purchases by Axa. The firm recently bought a $740 million portfolio from Barclays and a $1.7 billion portfolio from Citigroup. The HSH portfolio includes interests in 47 European private equity funds, Reuters wrote.
1 min read · 30 August 2011
San Francisco-based Rivet Games has added Chris Satchell to its board. He joins Jesse Janosov; Steve Anderson, founder at Baseline Ventures; Ron Fisher, partner at Softbank Capital; Jordan Grayson, managing partner at Outpoint Capital; Mike Maples, partner at FLOODGATE; and Scott Sorochak, vice president of Business Development at Rivet Games.
2 min read · 30 August 2011
The Gores Group has entered into a "stalking horse" asset purchase agreement to buy body armor maker Point Blank Solutions Inc. Subject to bankruptcy court approval, the Gores Group plans to close the acquisition of Point Blank’s assets by November.
5 min read · 30 August 2011
Australia and New Zealand Banking Group is in talks to buy a 50% stake in Japan's Aozora Bank, Reuters reported. The stake, currently owned by buyout shop Cerberus Capital, is valued at about $4.2 billion. Aozora has 20 branches and overseas representative branches with total assets of 4.85 trillion yen ($63 billion), Reuters wrote.
2 min read · 30 August 2011
Denver-based Platte River Ventures has added Mark Brown as a vice president, and Michelle Eidson as vice president of business development and marketing. Brown was previously vice president at CHS Capital. Eidson was previously director of corporate development at EchoStar Corp. Platte River Ventures focuses on middle-market investments in the aerospace, industrial services, energy services, agriculture, chemicals, metals, industrial minerals and transportation sectors.
2 min read · 30 August 2011
Buyout shop Audax Group has completed its acquisition of Versailles, Indiana-based Elgin Fastener Group. Elgin makes short-run, high-quality specialty fasteners for a range of niche industrial markets. Terms of the deal were not released. Audax manages more than $4.8 billion and is based in Boston and New York.
2 min read · 30 August 2011
Publicly traded digital media technology company DG is paying $66 million to buy EyeWonder, the video and rich-media advertising unit of Limelight Networks. DG says that the deal will expand its position as a provider of of interactive digital advertising products and services. Bank of America Merrill Lynch acted as financial advisor to DG.
3 min read · 30 August 2011
