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.
Periscope Equity LLC said July 24 that its debut fund closed with more than $104 million of committed capital. Investors include endowments, pension funds, charitable foundations, fund-of-funds, family offices and high net worth individuals. M2O Private Fund Advisors LLC acted as placement agent and Ropes & Gray LLP provided legal counsel to Periscope.
2 min read · 24 July 2018
Baird Capital, the direct investment arm of Robert W. Baird & Co, has acquired a majority stake in Collingwood Lighting. Financial terms weren’t announced. Collingwood, of Northamptonshire, England, designs and supplies residential, commercial and exterior luminaires into the professional refurbishment and new-build markets in the UK and France.
2 min read · 24 July 2018
2 min read · 23 July 2018
RCCH HealthCare Partners, a portfolio company of Apollo Global Management LLC, has agreed to merge with LifePoint Health Inc in a deal valued at about $5.6 billion. The combined company will be named LifePoint Health. LifePoint, of Brentwood, Tennessee, operates hospitals in around 70 communities across 22 states.
7 min read · 23 July 2018
The California State Teachers’ Retirement System said July 20 that it posted a 9 percent return for the 2017-2018 fiscal year, surpassing its 7 percent goal. Total fund value was $223.8 billion.
4 min read · 23 July 2018
Cerberus Capital Management has pulled out of running for Abraaj Group’s asset management platform, Bloomberg reported. Cerberus has walked away after its offer was rejected by Abraaj investors, the story said. Cerberus’s $25 million offer for the rights to manage Abraaj’s platform was among the lowest of several bidders, Bloomberg said.
1 min read · 23 July 2018
A KKR-led consortium is buying LCY Chemical Corp in a deal valued at $1.56 billion. LCY, of Taipei, China, is a specialty chemicals company with a concentration on thermoplastic elastomers and performance plastics used in infrastructure, health care, household, automotive, textile and electronic products.
5 min read · 23 July 2018
Graycliff Partners LP said July 23 that it sold Skandia Inc to TransDigm Group Inc for $84 million. Skandia, of Davis Junction, Illinois, provides seating foam, foam fabrication, flammability testing and acoustic solutions for the business jet market. Houlihan Lokey provided financial advice to Skandia.
2 min read · 23 July 2018
Ares Management LP said July 23 that its fourth European direct lending fund closed on 6.5 billion euros ($7.6 billion). The total surpassed the 4.5 billion euro target of Ares Capital Europe IV. The pool will provide capital to mid-market companies across Europe.
4 min read · 23 July 2018
The Riverside Co has acquired a majority of Abracon. Financial terms weren’t announced. Evergreen Pacific Partners is the seller. Abracon, of Spicewood, Texas, provides passive and electromechanical timing, synchronization, power, connectivity and radio frequency solutions. Antares Capital and Bain Capital provided financing. Jones Day acted as legal counsel while KPMG was accounting adviser.
2 min read · 23 July 2018
