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.
Carlyle Group has raised $773.4 million for its latest financial services fund, according to an SEC filing dated July 26. Carlyle invests in management buyouts, while also making growth capital and minority investments in financial services companies globally, the firm’s website said. Carlyle’s last financial services fund, a 2011 vintage, raised $1billion.
1 min read · 30 July 2018
Warburg Pincus has agreed to buy Leumi Card for 2.5 billion shekels ($684 million). Bank Leumi and Azrieli Group are the sellers. Bank Leumi said it expects to record an after-tax profit of 234 million shekels. Leumi, of Israel, is a credit card operator.
5 min read · 30 July 2018
ARM Holdings, which is owned by SoftBank Group, has agreed to buy Treasure Data Inc, Bloomberg reported. Treasure Data, a data analytics firm, could sell for $600 million, the story said.
1 min read · 30 July 2018
Novelis Inc said July 26 that it agreed to buy Aleris Corp in a deal valued at $2.6 billion, including debt. Aleris, of Atlanta, provides aluminum rolled products and is the world's largest recycler of aluminum. Oaktree Capital Group and Apollo Global Management own Aleris.
8 min read · 26 July 2018
The auction of Johnson Controls International Plc has hit the final stretch with final suitors including Apollo Global Management and Brookfield Asset Management, Bloomberg reported. Clayton, Dubilier & Rice and a consortium of Onex Corp and the Canadian Pension Plan Investment Board are also weighing a bid, the story said. The auction of JCI, a leading automative battery maker, could fetch more than $12 billion, Bloomberg said.
1 min read · 26 July 2018
Blackstone and Carlyle Group have made a joint takeover approach for Arconic, the Wall Street Journal reported. Apollo Global Management has also expressed interest, the story said. KKR and Onex Corp are also interested in Arconic, an aerospace parts-maker, the Wall Street Journal said.
1 min read · 26 July 2018
MidOcean Partners said July 25 that Eric Roth has joined as a managing director. He was previously an MD and head of the consumer retail group at Lazard. Also, David Kieselstein, currently an executive board member, was named chairman of the MidOcean executive board. Steve Miller, who was previously chairman, will continue as a member of MidOcean’s executive board and Matt Rubel has joined MidOcean’s executive board as chairman of the consumer group.
6 min read · 26 July 2018
Madison Dearborn Partners and Enstar Group Ltd agreed to invest $350 million to acquire a minority stake in AmTrust Financial Services Inc. In June, shareholders approved the $2.95 billion take private of AmTrust from Stone Point Capital and the Karfunkel-Zyskind family. AmTrust, of New York, is a property and casualty insurance company. Madison Dearborn’s and Enstar’s investment is expected to reduce the Stone Point’s and Karfunkel-Zyskind’s equity in the take private.
5 min read · 25 July 2018
Superion, TriTech and Aptean are merging and creating a software provider for local government. Financial terms weren’t announced. Vista Equity Partners and Bain Capital will co-own the combined business. TriTech is a Bain portfolio company while Vista owns Superion and Aptean. Macquarie Capital served as the financial advisEr to TriTech. Shea & Co advised to Aptean and Superion.
4 min read · 25 July 2018
Norwest Equity Partners said July 25 that it invested in Wahoo Fitness. Financial terms weren’t announced. Wahoo, of Atlanta, is a technology-focused fitness company that specializes in smart training products such as indoor bike trainers, GPS bike computers, apps and sensors for cyclists, runners, and fitness enthusiasts.
3 min read · 25 July 2018
