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Fund of funds snared in theft chargeAA Capital, a Chicago and Detroit fund of funds manager that spun out of ABN AMRO in 1995, has been hit with an SEC restraining order pending an investigation into charges that the firm stole at least $10.7m from labour-union LPs. The firm has ties to eleven well known private equity firms, as well as to a Detroit strip club and the rap producer Shorty Capone.
- Sterling buys Florida for-profit law school
Sterling Capital Partners is backing the nationwide expansion of Florida Coastal School of Law, a for-profit law school.
- British retailer sells unit to US firm
Listed UK retailer GUS Plc has agreed to sell a North American business services unit in an MBO backed by Baltimore- and Chicago-based Sterling Capital Partners.