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.
GP Bullhound Fund IV has closed on 113 million euros ($127.7 million). GP Bullhound focuses on growth stage businesses in the software, entertainment, marketplaces and fintech sectors.
2 min read · 20 June 2019
2 min read · 19 June 2019
Iain Leigh, APG’s global head of private equity and a managing director, is stepping down at the end of 2019. Greg Jania, head of fund investments, and Ken Bloomberg, head of co-investments, will co-head APG's global PE program and join the executive board of APG Asset Management US Inc.
3 min read · 19 June 2019
Warburg Pincus and Apollo Global Management have walked away from the sale of NCR, the New York Post is reporting. NCR, an ATM maker, was put up for sale last month, according to press reports.
1 min read · 19 June 2019
Twin Brook Capital Partners's latest direct lending fund closed on more than $2.75 billion. The target for AG Direct Lending Fund III was $2 billion. Twin Brook is the middle market direct lending subsidiary of Angelo, Gordon & Co LP.
3 min read · 19 June 2019
New York City pension funds and Platinum Equity are working on a provision that would let funds opt out of future investments in the prison services industry, Bloomberg reported. The New York City Comptroller’s office wants to expand existing restrictions that bar investments in private prisons to include companies that provide services to correctional facilities, the story said. Platinum has come under scrutiny for its 2017 acquisition of Securus Technologies Inc, which has charged as much as $25 for a 15-minute phone call, Bloomberg said.
1 min read · 19 June 2019
AUA Private Equity Partners LLC said June 18 that it acquired the assets of TruFood Mfg Inc. Financial terms weren’t announced. TruFood is contract manufacturer of branded and private-label nutrition bars, protein bars, chocolate moulded products, and baked goods.
3 min read · 19 June 2019
Tell Group SA, the investment firm founded by ex-UBS Group AG banker Yassine Bouhara, is offering to buy funds managed by collapsed Abraaj Group, Bloomberg is reporting. Tell is bidding $25 million to transfer the management of seven Abraaj funds to a new entity that would be 20 percent owned by Tell and 80 percent by Abraaj’s unsecured creditors, the story said.
1 min read · 19 June 2019
KPS Capital Partners said June 19 that it has agreed to sell Chassis Brakes International Group to Hitachi Automotive Systems Ltd, a subsidiary of Hitachi Ltd. Financial terms weren’t announced. Chassis Brakes, of Eindhoven, The Netherlands, makes automotive foundation brakes and foundation brake components. UPDATE: The transaction is valued at $690 million euros ($773 million), a source familiar said. The sale will produce a 6x return for KPS, the person said.
5 min read · 19 June 2019
Clearlake Capital Group LP said June 19 that it completed its previously announced buy of Dude Solutions. Waburg Pincus was the seller.
3 min read · 19 June 2019
