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.
Silicon Valley Bank said May 12 that Michael Descheneaux was promoted to president. He had been CFO of SVB Financial Group. Daniel Beck, former CFO of Bank of the West, will become SVB Financial Group's CFO effective June 5.
3 min read · 15 May 2017
Highland Capital Management Korea Ltd, an affiliate of Highland Capital Management LP, said May 12 it closed a $147 million healthcare-focused private equity fund. The fund will invest in middle market healthcare companies in North America and Asia. South Korea's National Pension Service (NPS) served as the anchor investor. Stonebridge Capital, a Korean private equity and venture capital firm, will co-manage the fund. Highland said the PE fund is the first healthcare sector-specific undertaking in Asia.
3 min read · 15 May 2017
AppOnboard Inc said May 12 that it raised $4 million from Troy Capital Partners and London Venture Partners. Also participating were a syndicate of VCs and CxO executives including the original creator of Google AdSense AppOnboard. AppOnBoard, of Los Angeles, provides technology that lets end users experience an app before choosing to download from the App Store.
4 min read · 15 May 2017
7 min read · 12 May 2017
Deutsche Bank said May 12 that it has hired Bruce Harting as a managing director in its financial institutions group. Harting will join the bank’s New York office this summer as head of banks investment banking coverage. He joins from Credit Suisse where he was most recently a managing director in the financial services coverage group.
3 min read · 12 May 2017
Nexera Holding LLC, a portfolio company of Warburg Pincus, said May 11 that it will now operate as Newfi Lending. Nexera’s wholesale lending business, which operated under the Blustream Lending brand, will now be called Newfi Wholesale.
2 min read · 11 May 2017
Grand Rapids Ophthalmology, a Sterling Partners portfolio company, said May 11 that Bill Hughson was named its CEO. Hughson was previously president and CEO of IntegraMed Fertility.
3 min read · 11 May 2017
NewSpring Capital said May 11 that its latest growth fund closed at $280 million. Investors of NewSpring Growth Capital IV LP include family offices, insurance companies, public pension plans, fund of funds, financial institutions, and university endowments. The fund will invest in growth-stage businesses in the information technology, enabling technology, and business services sectors, with an emphasis on the Mid-Atlantic region. NewSpring also said that Prashanth (PV) Boccasam joined the firm as an operating partner dedicated to the growth strategy.
3 min read · 11 May 2017
Bestport Capital said May 11 that it completed the MBO of Nu-Heat UK Ltd. Financial terms weren’t announced. Bestport provided the equity and a unitranche debt facility to back Nu-Heat’s management team in buying the business. Nu-Heat, of the UK, supplies warm water underfloor heating and integrated renewable solutions
2 min read · 11 May 2017
First Atlantic Capital Ltd said May 11 that it has sold its majority stake in TestEquity to LKCM Headwater Investments. Financial terms were not disclosed. TestEquity, of Moorpark, California, distributes electronic test and measurement equipment as well as laboratory and production supplies. Robert W. Baird acted as investment bankers and Dechert LLP served as legal counsel to First Atlantic Capital.
2 min read · 11 May 2017
