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.
To start your Friday, we have news Google's Q2 earnings, nonprofits withholding money meant for Hurricane Sandy victims and print isn't dead when you're Vogue magazine.
1 min read · 19 July 2013
Fieldwood Energy, which is backed by Riverstone Holdings, has acquired Apache Corp.’s Gulf of Mexico Shelf business for $3.75 billion. Fieldwood said the properties it is buying represent the largest operated asset base on the Gulf of Mexico Shelf and comprise more than 500 blocks and 1.9 million net acres. Fieldwood said it hopes to retain substantially all of Apache’s Gulf of Mexico Shelf employees. Citigroup Global Markets, J.P. Morgan, Deutsche Bank AG New York Branch, BofA Merrill Lynch and Goldman Sachs Bank USA are providing financing.
3 min read · 18 July 2013
Blue Wolf Capital Partners said Thursday it closed its latest fund at $300 million. Investors of Blue Wolf Capital Fund III LP include include foundations, endowments, fund of funds and public, corporate, and Taft-Hartley pension funds. Stanwich Advisors was the placement agent.
2 min read · 18 July 2013
Ouya announced Thursday a "Free the Games Fund" that has $1 million in matching funds. Game developers have access to matching fund, from $50,000 up to $250,000, for for Ouya-bound games launched on Kickstarter between Aug. 9 to Aug. 10. Games must meet their Kickstarter funding goal and raise a minimum of $50,000 to be eligible for matching. Ouya said it will match 100% of the total funds raised up to $250,000.
3 min read · 18 July 2013
Tony James, Blackstone's president, doesn't think lifting the ban on advertising will have much impact.
2 min read · 18 July 2013
Dell Inc. said Thursday that no vote was taken on the $24.4 billion offer from founder Michael Dell and private equity firm Silver Lake. Dell said the special meeting was adjourned to provide more time to solicit proxies from Dell shareholders. The special meeting will reconvene on July 24.
3 min read · 18 July 2013
Esentire has raised $7 million in a financing round, including $5.5 million from Edison Ventures. Existing investor VentureLink also participated. Esentire, of Canada, provides threat solutions for the hedge fund industry.
3 min read · 18 July 2013
JP Anderson Ltd., a subsidiary of Sloud, said Thursday it is forming a private equity fund, "The Sierra Leone Development Fund I, LP." The pool will promote economic development in the Country of Sierra Leone in West Africa. JP Anderson said it is looking to raise and invest $100 million in small-to medium-sized businesses and government related agency projects. JP Anderson, of Freetown Sierra Leone, is an investment bank.
4 min read · 18 July 2013
Triton Systems said its composites division, along with partner Specialty Material, have received MassVentures 2013 START Stage I Funding for their FRA Composites™ technology. Financial terms were not announced. Triton’s FRA Composites™ offers an alternative to traditional steel and aluminum for use in products such as pump and actuator housings.
3 min read · 18 July 2013
Blackstone reported Thursday that second quarter economic net income more than tripled to $703.2 million or 62 cents a share, compared to $212 million or 19 cents a share for the same time period in 2012. GAAP Net Income was $211 million for the quarter. Blackstone said total revenues for second quarter were $1.4 billion, up 122% from $644.3 million in 2012. "These past three quarters have been the highest in distributable earnings since Blackstone went public six years ago," said Stephen Schwarzman, Blackstone's chairman and CEO, in a statement. See Blackstone earnings here.
1 min read · 18 July 2013
