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.
Atomico said Feb. 16 that it closed its fourth venture capital fund at $765 million. Atomico IV will invest in European technology founders from Series A onwards. Atomico’s previous fund, Atomico III LP, closed in 2013 at $476.6 million.
3 min read · 16 February 2017
2 min read · 15 February 2017
The private-equity owners of BJ's Wholesale Club are interviewing banks to advise on the company’s options, which could include an IPO or a sale, the Wall Street Journal reported. If BJ’s chooses to go public, the IPO would come in the second half of 2017, the story said. BJ’s Wholesale is backed by Leonard Green & Partners LP and CVC Capital Partners Ltd.
1 min read · 15 February 2017
Sixpoint Partners said Feb. 15 that Michael Leonardo has joined the firm as vice president, west coast distribution. Leonardo joins from Ironwood Capital Management where he was an associate vice president. Sixpoint also said that Sean Joffe and Ryan Carey were promoted to Director, while Ben Newman was named a vice president.
3 min read · 15 February 2017
Kinderhook Industries LLC said Feb. 14 that it acquired Performance Motorsports International from Dover Corp and is forming a new performance parts platform, Race Winning Brands. Dover said it sold Performance Motorsports for $150 million, which includes its retention of a minority stake in the company. Performance Motorsports, of Mentor, Ohio, makes pistons and other engine related components for the motorsports and powersports markets. Antares Capital, Varagon Capital Partners, Madison Capital, and NewStar Financial are providing financing. Kirkland & Ellis LLP served as legal counsel to Kinderhook.
4 min read · 15 February 2017
Linda Chaffin has joined NXT Capital as head of institutional marketing. Most recently, Chaffin served as senior vice president for Pathway Capital Management.
2 min read · 15 February 2017
PayPal Holdings Inc has agreed to buy TIO Networks Corp for about C$304 million ($233 million). TIO, of San Francisco, is a payment processor in North America. TIO shareholders include Core Innovation Capital, Napier Park Financial Partners, Edison Partners, Inter-Atlantic Advisors and Inductive Capital.
9 min read · 15 February 2017
Frazier Healthcare Partners said Feb. 15 that Dr. Krishna Polu has joined the Life Sciences operating professional team as an entrepreneur-in-residence with Hawkeye Therapeutics. Dr. Polu previously served as chief medical officer at Raptor Pharmaceuticals until its acquisition by Horizon Pharmaceuticals in 2016.
2 min read · 15 February 2017
1 min read · 14 February 2017
Leon Black, co-founder and CEO of Apollo Global Management LLC, collected a total of $142.5 million in dividends, gains from the firm’s investments and his salary in 2016, the Wall Street Journal reported citing a regulatory fling. Most of Black’s earnings in 2016, which were down 2 percent from prior year, came from dividends paid on his 92.7 million shares of Apollo, the WSJ said. Black, 65, is paid a $100,000 annual salary which hasn’t changed since Apollo’s IPO in 2011, the story said.
1 min read · 14 February 2017
