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.
1 min read · 02 March 2018
The Securities and Exchange Commission dropped its inquiry into Apollo Global Management one month after the buyout shop had given Jared Kushner’s real estate firm a $180 million loan, the Associated Press reported March 2. The story said there was no evidence that Kushner, a White House adviser, or any other Trump administration official, had a role in the SEC’s decision to drop the inquiry into Apollo. The New York Times reported Feb. 28 that Joshua Harris, an Apollo founder, met with Kushner several times in 2017. Discussions included a possible job for Harris, which never materialized. Apollo made the loan to Kushner Companies in November, which was to refinance the mortgage on a Chicago skyscraper, the NYT said. In March, Citigroup also made a $325 million loan to Kushner Companies, and one of its partners, to finance a group of office buildings in Brooklyn, the NYT said.
1 min read · 02 March 2018
Carlyle Group said March 1 that it has invested in CFGI. Financial terms weren’t announced. CFGI provides technical accounting and finance advisory services to the office of the chief financial officer. CFGI has offices in Boston, New York, Philadelphia and San Francisco.
4 min read · 01 March 2018
Spotify Technology SA filed Feb. 28 to list its shares on the New York Stock Exchange. The online streaming service said its offering could raise as much as $1 billion and that it plans to trade under the ticker “SPOT.” Spotify is pursuing a direct listing of its shares and no underwriters are listed in the S-1. The company’s founders own the largest stakes. CEO and Co-Founder Daniel Elk owns 25.7 percent of ordinary shares and 37.3 percent of total voting power. Martin Lorentzon, co-founder, holds 13.2 percent of ordinary shares and 43.1 percent total voting power.
1 min read · 01 March 2018
CenterOak Partners LLC said March 1 that it has invested in JN Phillips Auto Glass and combined it with Techna Glass Inc. Financial terms weren’t announced. The combined company forms TruRoad Holdings Inc, an automotive glass and claims-management company. JN Phillips, of Woburn, Massachusetts, and Techna Glass, of Sandy, Utah, provide windshield replacement.
4 min read · 01 March 2018
Innovia Medical LLC, which is backed by Shore Capital Partners LLC, has acquired Network Medical Products Ltd. Financial terms weren’t announced. Network Medical, of Ripon, North Yorkshire, U.K., designs and makes sterile single use products for ENT and Ophthalmic procedures.
3 min read · 01 March 2018
3 min read · 28 February 2018
Prelude Growth Partners said Feb. 28 that it closed its first fund with $80 million in committed capital. Prelude, of New York, will seek to invest in consumer companies in sectors including beauty, personal care, health & wellness, food, beverage, and pet, among others.
2 min read · 28 February 2018
2 min read · 28 February 2018
SoftBank’s $100 billion Vision Fund will make between 70 to 100 investments in technology firms, CNBC is reporting. The Vision fund has already invested in 30 companies and has deployed about a third of its capital, the story said, quoting SoftBank CEO Rajeev Misra.
1 min read · 28 February 2018
