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.
3 min read · 30 May 2018
David Rubenstein, co-founder of the Carlyle Group, has started a family office called Declaration Capital, Bloomberg reported. Brian Frank, former money manager at Michael Dell’s MSD Partners, is running the unit, which focuses on venture, growth and family-owned businesses, the story said. Alexa Rachlin, Rubenstein’s daughter who spent four years at Goldman Sachs private wealth management, is also part of the staff. Rubenstein last year stepped back from his role as CEO of Carlyle and became co-executive chairman.
1 min read · 30 May 2018
Construction Supply Group, a portfolio company of the Sterling Group, has completed its buy of Williams Equipment & Supply and Richform Construction Supply. Financial terms weren’t announced. Williams distributes construction supply materials and equipment, operating 12 branches in the Mid-South U.S. Richform operates a single branch in Vancouver.
2 min read · 30 May 2018
Bisher Barazi, the chief financial officer of Abraaj's private-equity unit, and Matthew McGuire, the unit's chief operating officer, have left Abraaj Group, the Wall Street Journal reported. The exits come months since the executives were appointed to their roles as part of wider reorganization, the story said. Abraaj is trying to restore investor confidence following a dispute with investors over how money in its $1 billion healthcare fund was used, the WSJ said.
1 min read · 30 May 2018
Ant Financial has finalized agreements with some heavyweight investors to raise up to $10 billion at a valuation of $150 billion, Forbes is reporting. An announcement is expected in the next few weeks, the story said. GIC is leading the round, which is seen as a precursor to an IPO in the next year or so, Forbes said.
1 min read · 30 May 2018
OnTruck has raised 25 million euros ($28.8 million) in a Series B round led by Cathay Innovation. GP Bullhound invested in the round alongside existing investors Atomico, Idinvest Partners, Total Energy Ventures, Point 9 Capital and Samaipata Ventures. OnTruck, of Madrid, is a haulage tech platform.
2 min read · 30 May 2018
Bregal Sagemount has invested in GPS Insight. Financial terms weren’t announced. GPS Insight, of Scottsdale, Arizona, provides GPS tracking and ELD solutions for businesses and government agencies with fleets of vehicles and other mobile assets.
3 min read · 30 May 2018
Kimbell Royalty Partners has agreed to buy from KKR the mineral and royalty interests it managed in partnership with Haymaker Resources. The deal is valued at about $242 million. The transaction is part of a larger deal where Kimbell has agreed to acquire certain subsidiaries of both Haymaker Resources LP and Haymaker Minerals and Royalties LLC. The total combined deal value is $404 million.
3 min read · 29 May 2018
Dyal Capital Partners and Goldman Sachs Asset Management’s Petershill program, along with Landmark Partners, have made a minority investment in Clearlake Capital Group LP. Financial terms weren’t announced. The deal will provide permanent capital to Clearlake increase the firm's investment in its own funds.
5 min read · 29 May 2018
KKR has agreed to buy BMC Software from an investor group led by Bain Capital Private Equity and Golden Gate Capital. Financial terms weren’t announced. The investor group includes GIC, Insight Venture Partners and Elliott Management. BMC, of Houston, provides software to help companies organize their IT management functions.
8 min read · 29 May 2018
