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.
Cipio Partners said July 3 that its latest fund has closed with 174 million pounds ($225.5 million) in commitments. The largest institutional investors of Cipio Partners Fund VII SICAR include the European Investment Fund, UBS Asset Management and Austria’s Capital Bank - GRAWE Gruppe AG. Cipio, of Munich/Luxembourg, is a European secondary direct and growth capital investment firm.
2 min read · 03 July 2017
Connect Managed Services, a portfolio company of LDC, has completed its buy of PC-1. Financial terms weren’t announced. PC-1 manages contact centres in the UK for customers such as NSPCC, Northumbrian Water and Vodafone.
3 min read · 03 July 2017
To start your Monday, Dave McClure has apologized after making inappropriate advances to multiple women and he is no longer CEO of 500 Startups; Danone sells Stonyfield yogurt; and, no, NASA is not hiding kidnapped kids on Mars.
1 min read · 03 July 2017
TIAA Private Investments and Antarctica Capital have led a consortium to acquire InterPark. Financial terms weren’t announced. Alinda Capital Partners is the seller. Other investors of the consortium include Silverpeak Real Estate Partners, CIC Capital Corp, China Life, Munich Re Group and PFA Pension. InterPark, of Chicago, owns and operates parking facilities in North America. TIAA Private Investments is an affiliate of Nuveen.
7 min read · 30 June 2017
Cloud X Partners, a portfolio company of Elm Equity Partners, said June 29 that John Swiderski has joined as head of product. Swiderski is a former senior product manager at Amazon.
3 min read · 30 June 2017
Oaktree Capital Group LLC is near a deal to buy Fifth Street Asset Management, according to the Wall Street Journal. Oaktree is set to pay about $350 million, the story said. Fifth Street manages about $4.5 billion in corporate loans and other investments, mostly through two BDCs, the WSJ said.
1 min read · 30 June 2017
KKR is acquiring a majority of Dixon Hospitality Ltd. Financial terms weren’t announced. Dixon, of Melbourne, Australia, is a hospitality group that operates a portfolio of standalone pubs, bars or restaurants in that country.
4 min read · 30 June 2017
2 min read · 29 June 2017
New Capital Partners has invested in LoyaltyExpress. Financial terms weren’t announced. LoyaltyExpress, of Woburn, Massachusetts, provides marketing automation and cloud-based CRM solutions for mortgage companies and banks. Berkery Noyes advised LoyaltyExpress.
3 min read · 29 June 2017
Platte River Equity said June 29 that its fourth private equity fund at it $625 million hard cap. The initial target of Platte River Equity IV LP was $550 million. Platte River, of Denver, invests in aerospace & transportation; energy & power; agriculture & chemicals; and metals & minerals. Capstone Partners was the placement agent for Fund IV. Kirkland & Ellis LLP, Bartlit Beck Herman Palenchar & Scott LLP and The Whitmire Group LLC provided legal counsel to Platte River.
2 min read · 29 June 2017
