Luisa Beltran

Prudential Financial to acquire Assurance IQ for $2.35 bln: Wall Street Journal

Prudential Financial is buying Assurance IQ Inc for $2.35 billion, the Wall Street Journal reported. Assurance, an insurtech, uses data science and machine learning to sell life, health, Medigap and auto policies online to customers, the story said.

PE HUB Wire Highlights, 9.4.19

GI, TA consider options for MRI Software; VPAY bids come in below expectations; TCV, JMI Equity invest $250 mln in Clio

Atlantic Street Fund IV raises $500 mln

Atlantic Street Capital said Sept. 4 that its latest fund closed at its $500 million hard cap. The target for Atlantic Street Capital IV LP was $450 million. Atlantic Street Capital’s previous Fund III closed in 2016 with $210.5 million of committed capital.

Carlyle partners with Doyle, ex-Domino's CEO

Carlyle Group said Sept. 4 that it was partnering with Patrick Doyle, former president and CEO of Domino’s Pizza, to buy companies. Carlyle and Doyle will focus on public and private companies with established brands, proven business models and an enterprise value of up to $10 billion as well as family businesses. Doyle is working with Jay Sammons, Carlyle’s head of global consumer, media & retail.

Clio raises $250 mln

Clio said Sept. 4 that it raised $250 million in a Series D round from TCV and JMI Equity. Clio provides cloud-based legal technology.

Great Hill recaps Pareto Health

Great Hill Partners has completed a recap of Pareto Health Inc. Financial terms weren’t announced. Pareto is an employee benefit group captive manager that helps businesses with more than 50 employees self-fund health benefits.

PolyPid raises $50 mln

PolyPid Ltd said Sept. 4 that it raised $50 million in a Series E-1 round led by existing institutional shareholders and including US-based high-net worth investors. National Securities Corp acted as the placement agent for the financing. PolyPid is a clinical-stage biopharmaceutical company focused on developing and commercializing novel, locally administered therapies.

Priority Power buys EE Partners

Priority Power Management LLC, a portfolio company of Ara Partners Group, said Sept. 4 that it closed its buy of EE Partners Ltd. Financial terms weren’t announced. EE Partners, of Midland, Texas, offers specialized electrical engineering and technical services.

Gempspring-backed Therma Holdings buys VarcoMac

Therma Holdings LLC, a portfolio company of Gemspring Capital, said Sept. 4 that it acquired VarcoMac LLC. Financial terms weren’t announced. VarcoMac provides electrical systems and solutions serving the commercial, institutional and government markets.

Elliptic raises $23 mln

Elliptic said Sept. 4 that it raised $23 million in a Series B round led by SBI Group. AlbionVC participated in the round along with existing investors including SignalFire, Octopus Ventures, and Santander Innoventures. Elliptic provides of crypto-asset risk management solutions for crypto businesses and financial institutions.