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.
General Atlantic is in talks to sell its 20 percent stake in Mu Sigma to Carlyle and KKR in separate transactions, according to Livemint. GA’s stake is expected to be valued at at least $200 million, the story said.
1 min read · 19 February 2019
Navient Corp has rejected a $3.2 billion offer from Canyon Capital and Platinum Equity Advisors LLC because it’s too low, the Wall Street Journal reported. Navient, of Wilmington, Delaware, is a student loan servicer. UPDATE: On Navient's response to the bid, a company spokesperson made the following statement: “Navient’s Board has been clear that it would consider any bona fide, fully-financed proposal that appropriately reflects the fair value of the Company and has a viable path to completion. The price Canyon indicated substantially undervalues the Company, and Canyon has not provided any substantive information on financing. Prior to today, Canyon has not indicated any willingness to increase its price, and nothing in Canyon’s February 15 letter indicated any willingness to increase its price above $12.50. Of course, we are willing to meet with Canyon. We are always prepared to meet with our significant shareholders.”
1 min read · 19 February 2019
Colony Industrial said Feb. 19 that it acquired just over 21 acres of land in northeast Dallas, in partnership with developer Huntington Industrial Partners. Financial terms weren’t announced. Colony Industrial said it plans to develop two light industrial buildings totaling 355,071 square feet.
4 min read · 19 February 2019
David Rubenstein, William Conway and Daniel D’Aniello, founders of the Carlyle Group, received a combined $183 million in compensation and dividends in 2018, Bloomberg reported Feb. 14 citing regulatory filings. Rubenstein received about $63 million in dividends from his ownership stake while Conway and D’Aniello each got $59.6 million, the story said.
1 min read · 19 February 2019
KKR co-founders Henry Kravis and George Roberts received a combined $203 million in 2018, Bloomberg reported Feb. 16 citing SEC filings. Each co-CEO collected $55.6 million in carried interest and $300,000 in salary, the story said. Kravis also received $43 million in dividends while Roberts got $47.4 million, Bloomberg said.
1 min read · 19 February 2019
National Express Wash has acquired El Car Wash. Financial terms weren’t announced. El Car Wash owns and develops car wash locations in Miami and the broader South Florida market. National Express is backed by Wafra Inc, Audrose Partners and Fireside Investments.
3 min read · 19 February 2019
Monroe Capital LLC said Feb. 19 that it provided a loan to back HaystackID’s buy of Etera Consulting. The deal was announced in January. Etera provides subscription and contracted eDiscovery services, relationships, and infrastructure. HaystackID is a portfolio company of Knox Capital Holdings.
2 min read · 19 February 2019
Mambu has raised 30 million euros ($33.8 million) in funding led by Bessemer Venture Partners. Mambu, of Berlin, provides a SaaS banking platform. GP Bullhound provided financial advice to Mambu.
2 min read · 19 February 2019
2 min read · 18 February 2019
Main Post Partners has invested in DeMert Brands, parent company of Not Your Mother's. Financial terms weren’t announced. Not Your Mother's, of Tampa, Florida, is a haircare brand, offering shampoos, conditioners and styling products.
3 min read · 14 February 2019
