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.
Providence Equity Partners LLC is in discussions with TPG Capital LP to acquire a majority stake in RentPath Inc, a real estate listings company known for its Apartment Guide and Rent.com websites, Reuters is reporting.
2 min read · 14 October 2014
Stonegate Global said Tuesday that William Chong, a former senior executive at HSBC Alternative Investments, is now heading its West Coast operations. Based in San Francisco, Chong is an SVP and Head of Alternative Fund Services at Stonegate. Atlanta-based Stonegate Global provides domestic and offshore fund formation and fund administration services to investment management professionals, family offices, and other large institutional clients.
3 min read · 14 October 2014
Cyprium Partners said Tuesday it made a subordinated debt investment in Hobbico. Financial terms weren’t announced. Champaign, Ill.-based Hobbico is a U.S. distributor of radio-control (R/C) models and general hobby products.
2 min read · 14 October 2014
Rigontec GmbH said Tuesday it raised €9.45 million (US$11.95 million) in a first close of a Series A round co-led by Wellington Partners and Boehringer Ingelheim Venture Fund. Other investors include NRW Bank and High-Tech Gründerfonds. Rigontec, a biopharmaceutical company, is developing RNA-based immunotherapeutics for the treatment of cancer and viral diseases.
6 min read · 14 October 2014
S2C Inc. said Tuesday it completed a $4.6 million Series C financing round led by GVT Fund and Industrial Technology Investment Corp. San Jose, Calif.-based S2C makes high-performance rapid system on a chip/ASIC prototyping systems.
3 min read · 14 October 2014
H.I.G. Growth Partners, the growth capital arm of H.I.G. Capital, has invested in Boostability. Finanical terms weren’t announced. Lehi, Utah-based Boostability provides search engine optimization, local search, website creation, social and other digital marketing services to the small and medium business market local and internationally.
3 min read · 14 October 2014
American Capital said Monday that it received $176 million from the sale of portfolio company Unwired Holdings, parent to Unwired Technology, to Delphi Automotive. American Capital said it received 2.4x its equity investment and realized a compounded annual rate of return of 17% over the life of its equity investment, including dividends, realized gains and fees. Auburn Hills, Mich.-based Unwired designs and supplies USB connectivity modules and wireless headphone systems for the automotive industry. Delphi announced in September it was buying Unwired Technology.
4 min read · 14 October 2014
In Second Opinion, Fidelity names Abigail Johnson its CEO, EMC buys Cloudscaling Group for about $50 mln, Kmart gets hacked and creepy clowns with knives or other weapons are scaring people in Bakersfield, Calif.
1 min read · 13 October 2014
Silverfleet Capital said Monday that Jean Châtillon has joined the firm in Paris as a Principal. Benjamin Hubner and Jennifer Regehr have also joined Silverfleet in Munich as Associates. Châtillon was previously at Cobalt Capital, while Hubner worked at McKinsey & Company in Munich and Regehr was at UniCredit Bank.
2 min read · 13 October 2014
Platinum Equity said Monday it sold Neovia Logistics to Goldman Sachs and Rhône Capital. Financial terms weren’t announced. Neovia Logistics provides warehouse management and fulfillment services, distribution solutions and logistics services. Platinum Equity acquired 65 percent of the business, formerly Caterpillar Logistics Services, in July 2012 while Caterpillar retained a 35 percent stake. Macquarie Capital and UBS served as financial advisors to Platinum Equity. Goldman Sachs and Deutsche Bank Securities acted as financial advisors to the buyer.
3 min read · 13 October 2014
