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.
The Blackstone Group said in a July 24 SEC filing that Michael Chae was named CFO. He will replace Laurence Tosi, who has reportedly joined Airbnb Inc. Chae, at Blackstone, has headed media and telecom and international activities in Private Equity and was Head of Asia for the firm. Additionally, Blackstone said it promoted Joan Solotar to Head of Multi-Asset Investing and External Relations.
2 min read · 27 July 2015
Envision Ventures said Monday it closed a $100 million venture capital evergreen fund formed in partnership with Managing Partner Dan Ahn. Mountain View, California-based Envision will invest in software companies in Big Data, Security and Internet of Things. Investments will range between a few hundred thousand dollars up to $10 million.
2 min read · 27 July 2015
MidOcean Partners said Monday that it has agreed to sell Noranco Inc. to Precision Castparts Corp. PSP Investments is also a seller. The deal is valued at $560 million, Precision Castparts said in a separate statement. Noranco supplies complex machined and fabricated components for aero-engine, landing gear and airframe applications. Lazard advised Noranco.
2 min read · 27 July 2015
Interactive Data Holdings Corp. has filed confidentially with the SEC for a possible IPO. New York-based Interactive Data did not disclose the number of shares it would offer or their price range; that will likeoy come in future filings. Interactive Data, a financial data provider, is owned by Silver Lake Group LLC and Warburg Pincus LLC. The company said it plans to use proceeds from the proposed IPO to reduce debt and for other general corporate purposes.
2 min read · 27 July 2015
North Castle Partners said Monday it made a growth investment in SmartyPants Vitamins. Financial terms weren’t announced. CircleUp Growth Fund is coinvesting in the deal. SmartyPants develops, markets and distributes gummy vitamins and supplements for kids and adults.
4 min read · 27 July 2015
Mediterrania Capital Partners said Monday that its second growth fund for North Africa closed at its target of 120 million Euros (US$132.9 mln). Mediterrania Capital II will seek growth opportunities in the Maghreb region – Morocco, Algeria and Tunisia, with potential expansion into Africa Sub-Saharan countries. Fund II will invests in small and mid-market companies with an equity value in the €25 million to €400 million range.
3 min read · 27 July 2015
Chinese investment firm GSR Capital is launching a $5 billion fund to invest in global technology companies, counting on huge demand at home to create economies of scale in pharmaceuticals, energy saving and mobile phone technology, Reuters News reported.
2 min read · 27 July 2015
Leon nanodrugs GmbH said Monday it closed a Series A round of preferred stock at 18.5 million Euros (US$20.2 mln) led by TVM Capital Life Science. Signet Healthcare Partners (USA), LifeCare Partners (Switzerland), CD-Venture (Germany), Albany Private Equity Holding (Australia), and a non-disclosed Family Office from Germany also participated. Munich-based leon nanodrugs is a nanotechnology-based drug development company. The company said another 3 million Euros investment is expected later this year.
4 min read · 27 July 2015
Broadmeadow Capital, backed by FTV Capital and LLR Partners, has made a move to buy pieces of ETF strategist F-Squared Investments Inc out of bankruptcy.
3 min read · 27 July 2015
Veritas Capital said Thursday it has agreed to buy Alion Science and Technology Corp. Financial terms weren’t announced. Mclean, Virginia-based Alion provides engineering solutions and services that address issues relating to national defense, homeland security and other government areas. Credit Suisse and Wells Fargo advised Alion.
3 min read · 23 July 2015
