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.
GIC and Paramount Group Inc said Jan. 24 that they have formed a joint venture which has acquired 60 Wall Street for $1.04 billion or about $640 per square foot. The joint venture completed a $575 million financing of the property. The property, 60 Wall Street, is a 47-story, 1.6 million square foot office tower in the Financial District of Downtown Manhattan. It is 100 percent leased and serves as the U.S. headquarters of Deutsche Bank. In the joint venture, Paramount will own 5 percent of the property and will continue to serve as the property’s manager. GIC will have 95 percent.
3 min read · 25 January 2017
Pritzker Group Private Capital said Jan. 25 that Ryan Roberts has joined as investment partner and co-head of the group’s growing services team. Most recently Roberts was a director on the technology, media and telecom services team for Madison Dearborn Partners.
3 min read · 25 January 2017
2 min read · 24 January 2017
Incline Equity Partners has closed its fourth fund with $601.1 million in capital commitments. Incline Equity Partners IV LP closed at its hard cap and exceeded its $450 million target. Incline Equity’s third fund collected $301 million in 2013. Sixpoint Partners was the placement agent. Kirkland & Ellis LLP provided legal counsel. Incline Equity, of Pittsburgh, invests in lower middle-market growth companies in a variety of industry sectors such as value-added distribution, specialized light manufacturing and business services.
3 min read · 24 January 2017
Industrial Service Solutions has acquired IPEC LLC and Industrial Scaffolding Group LLC. Financial terms weren’t announced. IPEC, of Fort Myers, Florida, is a heavy industrial mechanical contractor while Industrial Scaffolding provides scaffold rentals, erection and dismantling services throughout the U.S. Industrial Service Solutions is backed by the Edgewater Funds and JZ Partners. Generational Equity advised IPEC LLC.
3 min read · 24 January 2017
Liberty Media Corp said Jan. 23 that it has closed its buy of Formula 1. Formula 1 has named Liberty Media its chief executive. Bernie Ecclestone, who was CEO, was named chairman emeritus.
7 min read · 24 January 2017
TA Associates has made a growth investment in Aldevron. Financial terms weren’t announced. Aldevron, of Fargo, North Dakota, makes biologics for research, clinical and diagnostic applications. Vogel LLP served as legal counsel to Aldevron and Kirkland & Ellis LLP served as legal counsel to TA Associates.
3 min read · 24 January 2017
Draper Esprit has invested another $6.9 million (5.5 million pounds) in TrustPilot. TrustPilot, of Copenhagen, Denmark, provides a multi-language review community where consumers can leave reviews about online merchants. Draper Espirit has invested a total of 11 million pounds in TrustPilot.
2 min read · 23 January 2017
AMC Theatres (AMC Entertainment Holdings, Inc.) said Jan. 23 that it agreed to buy Nordic Cinema Group Holding AB in a cash deal valued at SEK 8,250 million ($929 million). Bridgepoint and Bonnier Holding are the sellers. Nordic, a leading theatre operator in the Nordic and Baltic countries, has 68 theaters, 463 screens, and about 68,000 seats in nearly 50 large and medium-sized cities in the Nordic and Baltic nations, and a substantial minority investment in another 50 associated theaters with 201 screens, to which Nordic provides a variety of shared services. Citigroup Global Markets Inc is providing debt financing.
8 min read · 23 January 2017
Partners Group and PSP Investments have agreed to buy Cerba HealthCare. Financial terms weren’t announced. PAI Partners is the seller. Cerba, of Paris, operates clinical pathology laboratories.
4 min read · 23 January 2017
