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.
Lightyear Capital LLC and the Public Sector Pension Investment Board have agreed to buy AIG Advisor Group Inc. Financial terms weren’t announced. American International Group is the seller. Advisor Group is a network of independent financial advisors with more than 5,200 independent advisors and $160 billion in client assets under administration.
5 min read · 26 January 2016
Birch Hill Equity Partners has closed its fifth fund, Birch Hill Equity Partners V LP, at $1.3 billion, PE HUB Canada reported. Birch Hill's fifth fund surpassed the $1.04 billion raised by Fund IV in 2011. The Toronto-based firm said it will probably make investments ranging from $30 million to $600 million, across 10 to 12 companies within Fund V.
1 min read · 26 January 2016
Jonathan M. Nelson, the founder and CEO of Providence Equity Partners, has provided a $25 million gift to Brown University to launch The Nelson Center for Entrepreneurship. The Nelson Center will operate in collaboration with existing departments, schools and centers at Brown to foster entrepreneurship. Nelson is a 1977 Brown graduate. He became a member of Brown’s Board of Trustees in 2000 before being elected to the Board of Fellows in 2011
6 min read · 26 January 2016
CARsgen Therapeutics said Monday it completed a $30 million Series B round led by KTB Ventures and Jolly Innovation Ventures. Kaitai Capital and JIC GenesisFountain Healthcare Ventures also participated. CARsgen Therapeutics, of Shanghai, is developing CAR-T-based autologous immunotherapy to treat solid tumors.
3 min read · 26 January 2016
Inivata Limited said Tuesday it completed a 31.5 million pound (US$45 million) Series A funding round. Existing investors Imperial Innovations, Cambridge Innovation Capital, and Johnson & Johnson Innovation - JJDC Inc. all participated in the round, as did new investor Woodford Patient Capital Trust. U.K.-based Inivata is a clinical cancer genomics company.
6 min read · 26 January 2016
Dov Charney, the founder and former CEO of American Apparel said he was “disappointed” by a decision from a U.S. Judge Monday that rejected his takeover attempt and approved a bankruptcy exit plan from an investor group led by Monarch Alternative Capital. “While outside observers might not yet appreciate it, I believe the path being followed by the company's management is a road to ruin,” Charney said in a statement issued late Monday.
10 min read · 26 January 2016
Rick Genest has joined Premier Insurance Services as President. Protector Holdings LLC, a joint venture between EPIC and Dowling Capital Partners, acquired Protector in 2013. Genest joins Premier from Freeway Insurance/Confie Seguros, where he served as their Houston, Texas-based President. EPIC is backed by the Carlyle Group and Stone Point Capital.
2 min read · 26 January 2016
Gordon Brothers Group, New Mill Capital Holdings and Odyssey Real Estate Capital, via a joint venture, have acquired the former Sunny Delight bottling plant in Littleton, Massachusetts. Financial terms weren’t announced. The investor group is remarketing the 332,000 square-foot plant, which previously produced beverages such as Veryfine juices, Arizona iced teas, and Smartwater, to other companies.
3 min read · 26 January 2016
First Beverage Group said Monday that that John Sheldon has joined its team as president of First Beverage Financial, the company’s investment banking division. Sheldon most recently was managing director of the consumer products and services group of Peter J. Solomon Company.
3 min read · 26 January 2016
One Call Care Management said Monday Executive Chairman Dale Wolf would be assuming the additional role of President and Chief Executive Officer, effective immediately. One Call is a portfolio company of Apax Partners.
3 min read · 26 January 2016
