Luisa Beltran

PE HUB First Read

To start your morning, Walt Disney COO Thomas Staggs is leaving the company this year, Groupon receives a $250 million investment from Atairos and Villanova beats North Carolina for NCAA title.

Stone Point Capital buys Kestra Financial from NFP

NFP said April 4 that it has changed the name of NFP Advisor Services to Kestra Financial and selling a majority of the unit Stone Point Capital LLC. Financial terms weren’t announced. NFP is maintaining a minority stake. Austin-based Kestra Financial provides securities and investment advisory services. BofA Merrill Lynch provided financial advice while Ropes & Gray was the attorney for NFP. NFP is backed by Madison Dearborn Partners. In November, Buyouts Insider reported that NFP had put its wealth management unit up for sale.

PineBridge Structured Capital Partners Fund III closes at $600 mln

PineBridge Investments said April 4 it closed its latest structured capital fund at $600 million, surpassing the pool's $500 million target. PineBridge Structured Capital Partners III LP will invest in junior capital securities including mezzanine debt and structured equity issued by privately-owned middle market companies across all sectors in North America. New investors include major institutions in the US as well as Europe, the Middle-East and Asia.

Arrowhead Electrical buys the C&E companies

Arrowhead Electrical Products, which is backed by the Riverside Company, has acquired the C&E companies. Financial terms weren’t announced. Urbandale, Iowa-based C&E makes and distributes aftermarket and OEM engine components, primarily for the power sports industry. Ares Capital Corp and Varagon Capital Partners LP led financing. Jones Day and Deloitte advised Riverside on the investment. Financial Advisory Partners LLC was C&E’s investment banker for the transaction.

DFW Fund V closes at $360 mln

DFW Capital Partners said April 4 that it closed its fifth fund at $360 million. This is up from DFW’s fourth fund, which raised $162.5 million in December 2013. DFW Capital Partners V LP was oversubscribed and exceeded its fundraising target. Griffin Financial Group LLC was the placement agent. Teaneck, New Jersey-based DFW seeks to invest in lower middle market companies, specializing in the healthcare, business-services and industrial-services sectors.

Strainz raises $8 mln

Strainz Inc said April 4 it raised $8 million including $6 million in Series A funding from venture capital and angel investors. Las Vegas-based Strainz is a cannabis brand management company.

Peak Rock Capital exits Highline Produce Holding

Peak Rock Capital has sold Highline Produce Holdings Inc to Fyffes plc. Financial terms weren’t announced. Ontario, Canada-based Highline produces and distributes organic mushrooms in North America. Lazard Middle Market acted as the financial advisor while McDermott Will & Emery and Blake, Cassels & Graydon were the attorneys for the company.

Confie buys Axiom Insurance Agency

Confie, a portfolio company of ABRY Partners, has acquired Axiom Insurance Agency. Financial terms weren’t announced. Springfield, Massachusetts-based Confi specializes in personal lines insurance.

NBK Capital invests in Amo Hamza

NBK Capital Partners has invested in Amo Hamza. Financial terms weren’t announced. Financial terms weren’t announced. Amo Hamza is a seafood casual dining chain in Saudi Arabia with 13 restaurants in five cities, including eight in Riyadh and two restaurants in Jeddah. Freshfields Bruckhaus Deringer and Hourani & Associates advised NBK Capital Partners and Amo Hamza respectively.

PE HUB First Read

In First Read, Time Inc considers taking on private equity partners for Yahoo bid, Zero Internet or tech companies went public on US exchanges during the first quarter and the Panama Papers have been released, revealing the global elite's secret cash havens.