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.
Blackstone Group will be seeking more than $20 billion for its next private equity fund, Bloomberg reported. Blackstone will be looking to raise the fund later this year, the story said. Blackstone's last buyout fund, which gathered about $18 billion, wasn’t one-third invested as of March 31, Bloomberg said.
1 min read · 11 July 2018
2 min read · 10 July 2018
Opus Agency, a portfolio company of Growth Capital Partners, has acquired Level 2 Design. Financial terms weren’t announced. Level 2 Design, of Santa Rosa Beach, Florida, technical design and production company.
2 min read · 10 July 2018
Ingenious Med said July 10 that Nimesh Shah was named CEO. Ingenious Med is majority owned by Guidepost Growth Equity.
3 min read · 10 July 2018
Palladium Equity Partners LLC is investing Spice World Inc. Financial terms weren’t announced. Spice World, of Orlando, Florida, supplies garlic and other spices under the Spice World brand. UPDATE: Lorin DeMordaunt of Deloitte Corporate Finance provided financial advice to Spice World, while Moore & Van Allen served as legal adviser. Piper Jaffray advised Palladium, while Kirkland & Ellis and Simpson Thacher & Bartlett were the attorneys.
3 min read · 10 July 2018
Anne Arundel Dermatology Management, a portfolio company of New MainStream Capital, has acquired Virginia Dermatology & Skin Cancer Center PLLC. Financial terms weren’t announced. Virginia Dermatology, of Norfolk, Virginia, provides general, surgical and cosmetic dermatology services to the Virginia market.
3 min read · 10 July 2018
NexusTek, an Abry Partners portfolio company, has bought Zumasys Cloud Hosting. Financial terms weren’t announced. The acquired company is the cloud hosting, infrastructure and managed services business units of Zumasys.
4 min read · 10 July 2018
AE Industrial Partners LP said July 10 that its second private equity fund closed on $1.36 billion. AE Industrial Partners Fund II LP will make control investments in technical manufacturing, distribution and supply chain management, MRO (maintenance, repair and overhaul), and industrial service-based businesses in AEI’s target markets. The target of Fund II was $1 billion. Eaton Partners, a Stifel Company, served as placement agent, while Kirkland & Ellis LLP acted as legal adviser to AEI.
2 min read · 10 July 2018
MTech Capital said July 10 that the firm’s insureTech venture fund has raised $75 million in an initial close from three investors. They include CNA Financial Corp, NN Group, and an insurance company. The fund, which has a $150 million target, is focused on technology-enabled investment opportunities with the potential to transform the insurance industry.
3 min read · 10 July 2018
Rock Hill Capital Group said July 10 that it invested in LQC Pipe and Supply LLC through a recap. Financial terms weren’t announced. LQC, of Houston, is a wholesale distribution business providing pipes, valves and fittings to midstream and downstream end-users. Green Bank provided debt financing while Winston & Strawn provided legal advice.
2 min read · 10 July 2018
