I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Tom Dundon has committed $250 million to Alliance of American Football, according to NFL.com. Dundon is principal owner of the Carolina Hurricanes. He is also chairman and managing partner of Dundon Capital Partners. The AAF, a football league, has received backing from VCs including Founders Fund and Slow Ventures, PitchBook said.
1 min read · 20 February 2019
Blackstone has completed an investment in Lionpoint Group. Financial terms weren’t announced. Lionpoint, of New York, is a consult-tech firm for alternative investment managers.
3 min read · 20 February 2019
Godiva Chocolatier, backed by Yildiz Holding, said Feb. 20 they agreed to sell select Godiva assets to MBK Partners. These include Godiva’s retail and distribution operations Japan, South Korea, Australia as well as the future rights to develop New Zealand. This includes consumer packaged goods, digital-commerce, travel retail (for Japan and South Korea) and more than 300 retail stores. The transaction also covers Godiva’s production facility in Brussels that supplies product to these markets. Financial terms weren’t announced. Godiva Chocolatier provides artisanal chocolate. MBK Partners, of Beijing, is a North Asia private equity firm. Morgan Stanley provided financial advice while Baker McKenzie acted as legal counsel to Yildiz Holding and Godiva.
6 min read · 20 February 2019
Symplr, a portfolio company of Clearlake Capital Group LP, said Feb. 20 that it agreed to buy API Healthcare. Financial terms weren’t announced. Veritas Capital is the seller. API, of Hartford, Wisconsin, provides healthcare human capital management software solutions.
3 min read · 20 February 2019
Abacus Finance Group LLC said Feb. 20 that provided a loan to back LongueVue Capital’s buy of Select Express & Logistics. Financial terms weren’t announced. Select Express, of New York, provides “last mile” delivery services to a variety of retailers, e-commerce players, and businesses.
3 min read · 20 February 2019
Monroe Capital LLC said Feb. 20 that it provided a loan to back Vista Equity Partners $1.9 billion buy of Mindbody Inc. The deal was announced in December.
2 min read · 20 February 2019
Allianz X, the digital investment unit of the Allianz Group, said Feb. 20 that additional investment from Allianz SE caused it to increased the size of its fund to 1 billion euros ($1.13 billion). The funds will be used to make direct investments in digital companies globally that are strategically relevant for the Allianz Group.
3 min read · 20 February 2019
CORE Industrial Partners LLC said Feb. 20 that its debut fund closed on $230 million, exceeding its $225 million hard cap. Investors include university endowments, insurance companies, public pensions, corporate pensions, foundations, asset managers, family offices, and fund of funds. Winston & Strawn provided legal counsel. Sixpoint Partners served as placement agent.
2 min read · 20 February 2019
An investor group led by Atlas Merchant Capital LLC is buying just under 25 percent of Ascensus. Financial terms weren’t announced. GIC, Singapore's sovereign wealth fund, is part of the group. Ascensus, of Dresher, Pennsylvania, provides retirement-plan services. Barclays and J.P. Morgan provided financial to Ascensus, while Willkie Farr & Gallagher LLP acted as legal counsel to the company. Debevoise & Plimpton LLP acted as legal counsel to Atlas Merchant Capital and Sidley Austin LLP acted as legal counsel to GIC.
4 min read · 19 February 2019
Mercer Global Advisors Inc, a Genstar Capital portfolio company, said Feb. 19 that it acquired Arbor Asset Management LLC. Financial terms weren’t announced. Arbor, of Ann Arbor, Michigan, is a wealth manger that serves households throughout the mid-west with assets under management (AUM) of approximately $350 Million.
3 min read · 19 February 2019
