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.
J.B. Pritzker, co-founder of the Pritzker Group, has won the Illinois Democratic primary for governor, the Chicago Tribune reported March 21. With 81 percent of Illinois state precincts counted, Pritzker had 46 percent of the vote compared with rival state Sen. Daniel Biss of Evanston, who had 26 percent and Chris Kennedy, a Kenilworth developer, came in with 24 percent, the story said. Pritzker Group, of Chicago, has three investment lines: private capital, technology venture capital and asset management.
1 min read · 21 March 2018
Welsh, Carson, Anderson & Stowe is buying a majority of Avetta, while TCV is acquiring a minority. Norwest Venture Partners, the seller, is retaining a stake along side founders and management. Financial terms weren’t announced. Avetta, of Irvine, California, provides cloud-based risk-management software to businesses in sectors such as oil and gas, chemicals and transportation. Avetta and Norwest were advised by William Blair. WCAS was advised by Raymond James
4 min read · 21 March 2018
LLR Partners said March 21 that it has formed Eye Health America and acquired three companies: The Eye Associates, Clemson Eye and Piedmont Surgery Center. Rod Roeser will serve as CEO of Eye Health. Eye Health, of Atlanta, is an eye care practice management company.
4 min read · 21 March 2018
Blackstone and Thomson Reuters Corp are considering an IPO or sale of their stake in Tradeweb Markets LLC, Bloomberg is reporting. The firms have held talks with Tradeweb shareholders, which include Deutsche Bank, UBS, Royal Bank of Scotland, about selling the company or taking it public this year, the story said. Any sale or IPO won’t happen until BX completes its buy of Thomson Reuters financial and risk unit, Bloomberg said. Tradeweb, a New York bond trading platform, could be valued at more than $4 billion in an IPO or sale.
1 min read · 21 March 2018
Brookfield Asset Management Inc is buying a 25 percent stake in Link Financial Group, which includes LCM Partners. Financial terms weren’t announced. The deal includes the option to buy another 24.9 percent interest in Link over time. Link Financial, of London, provides loan management, debt purchase and standby servicing to European financial institutions.
4 min read · 21 March 2018
H.I.G. Capital LLC has closed its buy of Wastequip. Centerbridge Partners LP was the seller. The deal was announced in February. Wastequip makes waste and recycling equipment.
4 min read · 21 March 2018
KKR said March 20 that it is combining four Chinese digital media companies to form Cue & Co. Financial terms weren’t announced. Cue & Co, of China, is a digital marketing company.
4 min read · 21 March 2018
The HiGro Group LLC said March 20 it acquired a majority of DRS Imaging Services LLC. Financial terms weren’t announced. DRS, of Springfield, New Jersey, provides business process outsourcing and document technologies services. OFS Capital Corp and Modern Bank provided debt. Ice Miller LLP served as legal adviser to HiGro, while Lentz & Gengaro LLP advised DRS.
3 min read · 21 March 2018
Pete Peterson, who co-founded Blackstone Group in 1985 with Stephen Schwarzman, has passed away, according to the Associated Press. Peterson, 91, died of natural causes, the story said. Peterson was head of two major companies before he helped launch Blackstone. In the 1960s, he was CEO of Bell and Howell, which made movie cameras at the time. Peterson took over as head of Lehman Brothers in 1973, the AP said. Blackstone’s IPO in 2007 made Peterson a billionaire.
1 min read · 20 March 2018
1 min read · 20 March 2018
