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.
Dyal Capital Partners, a division of Neuberger Berman, has acquired a minority stake in HPS Investment Partners. Financial terms weren’t announced. Dyal’s stake in HPS is passive and non-voting. HPS, of New York, is a credit investment manager.
3 min read · 03 July 2018
Dyal Capital Partners, a division of Neuberger Berman, has made a minority investment in Round Hill Capital. Financial terms weren’t announced. Round Hill, of London, is a real estate investment, development and asset management firm. Dyal’s stake is passive and non-voting. Evercore and PWC acted as investment advisors. Simpson Thatcher & Bartlett LLP served as legal counsel to Round Hill Capital, while Fried Frank advised Dyal.
3 min read · 03 July 2018
Platinum Equity said July 3 that it has acquired PLI Card Marketing Solutions (a.k.a. Plasticard-Locktech International). Financial terms weren’t announced. PLI, of Las Vegas, provides gift, loyalty and membership card marketing solutions. Gibson, Dunn & Crutcher LLP served as Platinum Equity’s legal counsel on the acquisition of PLI. J.P. Morgan provided financial advice to PLI, while Robinson Bradshaw served as legal counsel to PLI.
3 min read · 03 July 2018
Thoma Bravo is seeking $11.5 billion for its latest flagship, the Wall Street Journal reported, citing an SEC filing. The $11.5 billion is up from the $10 billion the PE firm told investors it was targeting for Thoma Bravo Fund XIII LP, the story said. Thoma Bravo raised $7.6 billion with its last flagship.
1 min read · 03 July 2018
Centerbridge Partners and its board said June 29 that it has hired BofA Merrill Lynch and Barclays to explore a potential sale of P.F. Chang’s Bistro. Centerbridge acquired P.F. Chang’s in 2012 for $1.1 billion. The firm recently completed the operational separation of P.F. Chang’s Bistro and Pei Wei Asian Diner into two independently operated businesses. P.F. Chang’s Bistro is a full-service Asian restaurant chain that operates 214 locations in the U.S. and franchising another 93 restaurants in 24 countries globally.
2 min read · 03 July 2018
EXLService Holdings Inc said July 3 that it closed its buy of SCIOInspire Holdings Inc which does business as SCIO Health Analytics for $236.5 million. SCIO, of West Hartford, Connecticut, is a health analytics solution and services company backed by Sequoia Capital.
4 min read · 03 July 2018
Prestige Brands Holdings Inc said July 2 that it agreed to sell its household cleaning business for $69 million in cash. The products sold include Comet®, Spic and Span®, Cinch®, Chore Boy® and Chlorinol® household product brands and related inventory. Prestige did not reveal the name of the buyer. Michelle Moore, Morley Fortier and Amanda Mueller of Reed Smith advised Prestige.
4 min read · 03 July 2018
ORIX Corp USA said July 1 that it agreed to buy NXT Capital. Financial terms weren’t announced. NXT, of Chicago, is a middle market lender. NXT is backed by Stone Point Capital, Ontario Teachers' Pension Plan, and Aflac Inc. Nikkei Asian Review pegged the sale at more than 100 billion yen ($903 million). Houlihan Lokey Inc advised ORIX USA while Davis Polk & Wardwell LLP acted as legal adviser. J.P. Morgan Securities LLC provided financial advice to NXT, while Kramer Levin Naftalis & Frankel LLP acted as legal adviser.
4 min read · 02 July 2018
2 min read · 02 July 2018
LJ Partnership said July 2 that it is rebranding to Alvarium Investments in 2019. The firm said that Ken Costa and Ali Bouzarif will become partners and shareholders. Costa is the former chairman of Lazard International while Bouzarif is the former head of investment execution at the Qatar Investment Authority. Dilmun has also acquired a 40 percent stake in LJ Partners, the firm said. LJ, of London, is a private wealth and real estate partnership.
5 min read · 02 July 2018
