Streetline nabs $10 mln

Streetline, a smart parking company headquartered in Foster City, Calif., said Tuesday that it has raised $10 million in funding. The firm’s backers include Citi, Fontinalis Partners, RockPort Capital Partners, Sutter Hill Ventures, True Ventures and Qualcomm Ventures. In conjunction with the funding, Streetline has appointed Abe Yokell to its board of directors.


Fortress hires Citigroup exec Feig for liquid markets business

Fortress Investment Group has hired Jeff Feig, Citigroup’s global head of developed markets foreign exchange and a senior manager at Citi. Feig joins Fortress as a portfolio manager and co-CIO of the Fortress Macro Fund. He also will work as co-president of Fortress’s Liquid Markets business.

American Energy agrees to buy acres in Ohio and West Virginia for $1.75 bln

American Energy-Utica said Monday that it has agreed to acquire approximately 27,000 net acres in Monroe County, Ohio from East Resources and an unidentified private firm. Also, American Energy-Marcellus has inked agreements to buy about 48,000 net acreages in five West Virginia counties from the same sellers. The combined price of these acquisitions is $1.75 billion. Both transactions are expected to be completed in the next 60 days. Citi and Goldman Sachs served as financial advisors to AEU and AEM, while Jefferies was financial advisor to the sellers. American Energy-Utica and American Energy-Marcellus are both backed by The Energy & Minerals Group.

Shire acquires VC-backed Lumena Pharmaceuticals

Shire has acquired Lumena Pharmaceuticals. No financial terms were disclosed. Citi provided financial advice to Lumena. Based in San Diego, Lumena is a biopharmaceutical company focused on rare cholestatic liver diseases and serious metabolic disorders. Its backers include New Enterprise Associates, Adage Capital Management, RA Capital Management, Pappas Ventures, RiverVest Venture Partners and Alta Partners.

GI Partners completes dividend recap of SFR homes

GI Partners has completed a dividend recapitalization of its portfolio of single family rental homes, held as a partnership with Waypoint Real Estate Group. The new senior credit facility successfully increased the company’s total debt capacity to $410 million. The facility was provided by Citi.

SJF Ventures Raises $90M for Third Fund, Tripling Size of Prior Fund

SJF Ventures has held a final close on its $90 million for its third fund, raising more than three times the amount of its second fund, which totaled $28 million, the firm announced Thursday. Investors in the new fund include CitiDeutsche Bank, MetLife, Prudential Financial, Cambridge Associates, Mercer Consulting, and Trillium Asset Management, SJF said in a press release.

Waypoint Homes Closes Revolving Credit Facility

Waypoint Homes and Menlo Park-based private equity firm GI Partners have closed a $245 million revolving credit facility with Citi. The facility will support the acquisition, renovation, long-term ownership and management of Waypoint’s growing national portfolio of single family rental homes. Based in Oakland, Calif., Waypoint Homes has created a next-generation real estate company to help address the lack of liquidity contributing to the prolonged U.S. housing crisis.

Citi Awarded Mandate from Kimmeridge Energy Fund

Citi has been awarded a mandate from Kimmeridge Energy Fund to provide private equity fund and cash administration services. Kimmeridge is a private equity fund based in New York focusing on early-stage unconventional upstream energy investments in the United States. PRESS RELEASE Citi has been awarded a mandate from Kimmeridge Energy Fund (Kimmeridge) to provide […]

The Week Ahead: First Investments for Russia Direct Investment Fund

MONDAY 19 MARCH Venture Capital Forum Canada Hosts Funding Platform for Start-up Companies The week kicks off with the first day of the three day Venture Capital Forum Canada hosted by the French Chamber of Commerce in Canada. The forum takes place at the Hôtel Intercontinental
 Montréal. Prominent speakers over the three days include Jean-René […]

Google, Citi Back Alta Wind Energy with $204M

Google and Citi will finance a second phase of the Alta Wind Energy Center being developed by Terra-Gen Power, each investing $102 million in the project, the companies announced Wednesday. Terra-Gen Power is an affiliate of ArcLight Capital Partners and Global Infrastructure Partners. Both Google and Citi previously put $55 million into the Alta IV project, bringing each company’s total investment to $157 million.

Wolfe Jumps to Citi from Union Square Advisors

Trip Wolfe has left Union Square Advisors and joined Citi.

Wolfe will be Citi’s North American head of venture capital coverage in the technology, media and telecommunications group, a spokesman confirmed. He will be an MD. The role at Citi is new and is expected to help build stronger relationships between the VC and related sponsor community. Wolfe will split his time between the East and West coast, the spokesman said.

Oh, No! PE Firms May Lowball Citi for OneMain

Citi is finally getting some traction in its sale of OneMain Financial.

Several PE firms are interested in the unit, which lends money to low-income borrowers. Blackstone, the Carlyle Group, WL Ross & Co., Thomas H. Lee and Brysam Group Partners are part of a large group that are pursuing a bid, according to The Wall Street Journal. Warburg Pincus and J.C. Flowers & Co. are also exploring a deal separately, the story says.

Citi Adds Steve Conway As PE Advisor

Citi has hired Steve Conway, a former executive at Swiss bank UBS, as its most senior European banker advising private equity firms, Reuters reported. Conway joins as managing director and head of the Citi’s Financial Entrepreneurs Group for Europe, the Middle East and Africa. He has worked previously as a senior advisor to private equity firm TDR Cpital and an operating partner at Advent International.

Legal battle over EMI deal arrives in court

Guy Hands, of private equity firm Terra Firma, will testify in a Manhattan court today in a case to decide whether Hands was duped into overpaying for the EMI music company. Terra Firma, backed by Citi loans of $2.6 billion pounds, bought EMI in 2007, but the downturn soured the deal and the relationship between Terra Firma and Citi.

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