Private Equity
SoftBank Group Corp.’s $100 billion Vision Fund has set up an unusual compensation structure for partners that allows them to share in potential enormous profits of its investments and also those deals that backfire, Bloomberg reported. The fund, which includes a $5 billion loan to employees, swaps debt for equity, generates profits when transactions make money as well as losses when they don’t, the story said.
1 min read · 21 January 2019
BC Partners has hired Goldman Sachs and JP Morgan Chase to advise on the sale of Acuris, the company formerly known as Mergermarket, Bloomberg reported. A sale of Acuris could fetch more than 1 billion pounds ($1.3 billion), the story said.
1 min read · 21 January 2019
MUFG Union Bank NA said Jan. 8 that it closed its buy of Intrepid Investment Bankers LLC. Financial terms weren’t announced. Intrepid, of Los Angeles, is a middle market investment bank out of Los Angeles. Intrepid will operate under its current name as a subsidiary of MUFG Union Bank.
5 min read · 17 January 2019
Arsenal Capital Partners said Jan. 17 that it acquired Accumen Inc from Accretive LLC. Financial terms weren’t announced. Accumen, of San Diego, provides health system performance optimization solutions.
3 min read · 17 January 2019
WEX said Jan. 16 that it agreed to buy Discovery Benefits Inc. Financial terms weren’t announced. Discovery Benefits is employee benefits administrator for more than one million consumers.
5 min read · 17 January 2019
Mérieux Equity Partners said Jan. 17 that Benoit Chastaing has joined the firm as senior partner. Most recently, Chastaing was a partner of Gimv.
2 min read · 17 January 2019
KeyBank National Association, said Jan. 16 that it agreed to buy Laurel Road's digital lending business. Financial terms weren’t announced. Laurel Road's three bank branches located in southeast Connecticut are not part of the transaction. Laurel Road, of New York City, provides student loan refinancing platform. KeyBank is part of KeyCorp.
5 min read · 17 January 2019
Orchard Global Asset Management said Jan. 17 that its Taiga Special Opportunities Fund closed on $2.5 billion. Taiga looks invest in opportunities arising from the regulatory environment applicable to global financial institutions.
2 min read · 17 January 2019
Cars.com said Jan. 16 that it has hired advisers to explore strategic alternatives, including a sale. Cars.com has retained JP Morgan as its financial adviser and Latham & Watkins LLP as legal counsel. Cars.com, which provides an online automotive marketplace, was spun off from Tegna in 2017. The Chicago company has a $1.6 billion market cap.
1 min read · 17 January 2019
4 min read · 16 January 2019
