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.
Thoma Bravo LLC said Jan. 29 that its latest flagship closed on its $12.6 billion hard-cap. Investors of Thoma Bravo Fund XIII include sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices. Fund XIII will invest in enterprise software companies.
3 min read · 29 January 2019
4 min read · 28 January 2019
New Energy Capital Partners LLC said Jan. 28 that its fifth private equity fund closed on its $500 million hard cap. LPs of New Energy Capital Infrastructure Credit Fund II include a mix of institutional and other investors, including endowments, foundations, insurance companies, pension plans, health systems, and family offices. NEC will use the fund to invest in clean energy infrastructure assets in North America, including solar, wind, energy efficiency, storage, and water.
2 min read · 28 January 2019
Lazard Asset Management LLC said Jan. 28 that Jennifer Anderson and Nikita Singhal have joined the firm as co-heads of sustainable investment and ESG (environmental, social and governance). Anderson was previously an investment manager at TPT Retirement Solutions. Singhal was a portfolio analyst with ClearBridge Investments.
3 min read · 28 January 2019
Two senior executives are leaving KKR in Europe, the Financial Times reported. This includes John Empson, head of capital markets Europe, who is expected to stay until at least first quarter of this year, the story said. Marc Ciancimino, a KKR partner in its European private credit division, also left at the end of 2018 after a decade with the firm, the FT said. Ciancimino is believed to be setting up his own shop, the story said.
1 min read · 28 January 2019
Cerberus and Centerbridge have joined forces to buy a minority of ailing German lender NordLB, the Financial Times reported. Ceberus and Centerbridge had previously been in separate negotiations to buy a stake of up to 49 percent of NordLB, the story said. The PE firms have made a joint offer to each buy a 24.9 percent stake in NordLB, the FT said.
1 min read · 28 January 2019
Levine Leichtman Capital Partners said Jan. 27 that it acquired SK AeroSafety from SK FireSafety. Apax Partners is the seller. SK AeroSafety’s management team, headed by CEO Chris Wright, will invest alongside Levine Leichtman. SK AeroSafety provides inspection, testing, maintenance and repair of safety equipment found on commercial and private aircraft globally. LLCP was advised by PwC and NautaDutilh.
3 min read · 28 January 2019
Advent International has made a majority investment in BioDuro. Financial terms weren’t announced. BioDuro, of San Diego, is a global life sciences contract research and development organization.
5 min read · 28 January 2019
Innogy Innovation Hub has invested in SkenarioLabs. Financial terms weren’t announced. SkenarioLabs, of Espoo, Finland, is a start-up that provides Artificial Intelligence data services to the real estate industry. Innogy Innovation Hub is the accelerator and venture capital arm of innogy SE.
3 min read · 28 January 2019
Lance Milken, the son of Michael Milken, has left Apollo Global Management to set up a family office, the Financial Times reported. The younger Milken, who is 43, joined Apollo in 1998 and was a senior partner at Apollo, the story said. He focused on consumer and was involved in several large restaurant deals, including the buyouts of Qdoba last year, the parent company of Chuck E Cheese in 2014 and CKE restaurants, which owns Carl’s Jr, in 2010, the FT said.
1 min read · 28 January 2019
