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.
2 min read · 20 July 2018
State Street Corp agreed July 20 to buy Charles River Development. Financial terms weren’t announced but press reports pegged the deal at $2.6 billion. Charles River, of Burlington, Massachusetts, provides investment management software for the institutional investment, wealth management and hedge fund industries. Buyouts reported news of the sales talks between Charles River and State Street in February. Mike Esposito and Jason Eisenstadt of Goldman Sachs provided financial advice to State Street.
2 min read · 20 July 2018
PPC Partners said July 19 that its latest fund closed on its $1.8 billion hard cap. The target for PPC Fund II was $1.5 billion. Pritzker Group Private Capital, of Chicago, launched PPC Partners in first quarter. PPC handle’s Pritzker Group’s middle market investing. Kirkland & Ellis LLP served as legal counsel, while Credit Suisse Securities (USA) LLC was placement agent.
3 min read · 19 July 2018
TSG Consumer Partners has invested in Prive Revaux, the eyewear brand worn by celebrities including Jamie Foxx and Ashley Benson, according to WWD. TSG is taking a minority stake, the story said.
1 min read · 19 July 2018
Silver Lake has offered to invest about $500 million in iHeartMedia, the radio broadcaster that filed for bankruptcy protection in March, the Wall Street Journal reported. IHeartMedia’s largest creditor group has not accepted the offer, the story said.
1 min read · 19 July 2018
Blackstone’s GSO Capital Partners plans to amass $10 billion of equity and debt capital to make nonbank loans to small and mid-size companies, Bloomberg reported. GSO may form a business development company and raise money in a separately managed account for institutional investors, the story said.
1 min read · 19 July 2018
Clearlake Capital Group LP said July 19 that it agreed to sell Sage Automotive Interiors to Asahi Kasei Corp. Financial terms weren’t announced but press reports peg the sale at $1.06 billion. Sage Auto, of Greenville, South Carolina, provides automotive interior materials for seating, door panel surfaces, and headliners to automotive OEMs.
3 min read · 19 July 2018
Life Company Consolidation Group, a portfolio company of Oaktree Capital, plans to buy Generali Worldwide Insurance Co Ltd and General Link Ltd. Assicurazioni Generali SpA, the seller, said it would receive 409 million euros ($476 million). Generali Worldwide, of Guernsey, provides single premium and regular premium unit linked investment solutions to customers outside of the EU. Generali Link, of Ireland, is a shared service provider with a focus on fund and policy administration.
3 min read · 19 July 2018
Diversis Capital and Schawk Digital Solutions have sold BLUE Software to Esko. Financial terms weren’t announced. BLUE Software, of Chicago, is a label and artwork management software company.
3 min read · 19 July 2018
Pegasus Capital Advisors LP said July 19 that it made a control investment in Yanzi Networks AB. Financial terms weren’t announced. Yanzi, of Stockholm, is a Swedish IoT solutions provider of facilities management services.
4 min read · 19 July 2018
