Private Equity
David Messer and Frank Gallipoli, who are the founders of a commodity firm that grew to become RBS Sempra, plan to launch a new private-equity backed company, Reuters reported. The new firm will be called Freepoint Commodities. It will be backed by buyout shop Stone Point Capital LLC of Greenwich, Conn.
4 min read · 19 November 2010
CLSA Capital Partners plans to sell Everlife in a deal that could be worth up to 70 billion yen ($840 million), Reuters reported citing sources. CLSA hired Bank of America Merrill Lynch as an adviser and to sounding out interest from other private equity firms and strategic investors, three people with direct knowledge of the matter said. CLSA Capital is Credit Agricole SA's private equity business. Everlife is a Fukuoka, Japan-based food supplement maker.
3 min read · 19 November 2010
The New Energy Capital Cleantech Infrastructure Fund closed a $23.5 million investment in a fuel cell project located on sites owned by the University of California San Diego and the City of San Diego. The project includes three fuel cells totaling 4.5 megawatts of generating capacity. New Energy Capital Cleantech Infrastructure Fund is managed by New Energy Capital Partners of Hanover, N.H.
3 min read · 18 November 2010
Perseus LLC-backed Physicians Interactive Holdings LLC named Brett Miller president of its healthcare professional division. Chief Innovation Officer Sandeep Shah was named Chief Content Officer. Marlene Galante joins the executive leadership team in a new role as general manager, Academic Centers, Associations, and Centers of Professional Excellence. Physician Interactive of Marlborough, Mass., is a provider of health care information and mobile clinical decision tools to medical professionals.
3 min read · 18 November 2010
First State Super and Health Super plan to merge, Reuters reported. The transaction would form the fifth largest private pension fund in Australia, the firms said. The two funds together have A$28 billion ($27.48 billion) in funds under management.
1 min read · 18 November 2010
Booz Allen Hamilton Holding Corp. closed its first day of trading on the New York Stock Exchange at $19.25, 13.2 percent higher than its IPO price on Wednesday, Reuters said. The McLean, Virginia-based government consulting firm is majority owned by The Carlyle Group of Washington, D.C. Booz Allen Hamilton raised about $238 million through the sale of 14 million shares for $17 each. It had planned to sell shares in the range of $17 and $19 each.
3 min read · 18 November 2010
Norwalk, Conn. -based Kayak Software Corp. plans to raise as much as $50 million, Reuters reporter citing an IPO filing with the Securities and Exchange Commission. The operator of the Kayak.com website did not specify how many shares it plans to sell. Some of the major investors in the company that plan to sell shares in the IPO include: General Catalyst Partners, Sequoia Capital, Accel Funds and Oak Investment Partners.
2 min read · 18 November 2010
LPL Investment Holdings Inc. sold 15.7 million shares for $30 each through an IPO, Reuters reported. LPL Investment had planned to sell 15.6 million shares and the IPO price came in at the high end of the anticipated $27-to-$30-a-share range. LPL Investment raised $469.7 million and has a market value of more than $3.2 billion. However, the Boston, Mass.-based company initially filed to raise as much as $600 million. The offering allows TPG and Hellman & Friedman to cut their equity stakes to about 32 percent each from 36.3 percent, Reuters reported. LPL Investment’s shares will change hands on Nasdaq under the "LPLA" symbol.
3 min read · 18 November 2010
Barclays Plc of the U.K. plans to spin off its private equity arm. Reuters reported the business will go to the managers of the fund in return for a share of future profits, according to a person familiar with the matter. The buyout of Barclays Private Equity will not take place until after the first closing of its latest fund sometime next year, the source told Reuters.
2 min read · 18 November 2010
Levine Leichtman Capital Partners acquired Santa Cruz Nutritionals. The deal was completed in partnership with the management of the California-based maker of nutritional and dietary supplements. Financial terms were not disclosed. Swander Pace Capital was the seller.
2 min read · 18 November 2010
