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Exclusive: Forbes Gets Into Capital-Raising Business

The Forbes brand has always been associated with financial services, but almost always from the media bleachers. Until now.

peHUB has learned that a new effort called Forbes Private Capital Group recently launched, with plans to raise third-party capital for private funds and transactions. Much of the marketing will be aimed at wealthy families and individuals — i.e., Forbes’ target market — although it also will work to raise money from institutional investors.

The man in charge is Todd Morley, who isn’t new to this sort of thing. In 1999, he co-founded Guggenheim Partners, which now has $100 billion in assets under management. He more recently founded an investment management firm called G2 Investment Group, which is where Forbes Private Capital Group will be housed.

“I have a social relationship with some of the Forbes family from my time with Guggenheim, so they are very familiar with what we did over there,” Morley says. “I think they saw this as a natural segue from the media business into the financial services business.”

More Green Shoots? Reviving Old Venture Funds

Limited partners in VC funds have grown more restless and demanding over the last year, as the economy has weakened and funds raised during the dotcom bubble have wound down.

They’re asking for stronger guarantees on returns, lower management fees and other concessions even from top-tier venture capital firms — something they haven’t done before, says T. Hale Boggs, a partner in the venture capital practice of law firm Manatt Phelps & Phillips.

But Boggs’ clients are also seeing more positive ways to get money back to LPs, he says, thus “making lemonade out of lemons.”

Guggenheim Partners Buying Claymore Group

Guggenheim Partners, a financial services firm with private equity and venture capital affiliates, has agreed to acquire Claymore Group, a provider of ETFs, closed-end funds and unit investment trusts. No financial terms were disclosed for the deal, which is expected to close later this quarter.

Guggenheim Partners Raises Early-Stage VC Fund

Looks like Guggenheim Partners, a 10-year-old money management firm with assets in fixed income, real estate, hedge fund, and commercial aircraft, has raised a new, early-stage venture capital fund, according to an SEC filing. Helped by the Zurich-based placement agent Moravia Capital, the fund, which had a $10 million first close in early summer, has […]

Guggenheim Partners Acquires Thomas Weisel Parters’ India FoF

Guggenheim Partners has expanded into India by acquiring the India-focused private equity fund of funds operated by Thomas Weisel Partners. The funds, called Thomas Weisel India Opportunity Fund, will retain their managers. Press Release: Guggenheim Partners, LLC today announced an expansion of its investment management capabilities into India via a transaction with Thomas Weisel Partners […]

JPMorgan Siezes Guggenheim Debt Fund’s Collateral

(Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) seized tens of millions of dollars of collateral from a commercial property debt fund run by Guggenheim Partners LLC, the Wall Street Journal said citing people familiar with the matter. The move followed the fund’s failure to provide additional capital to meet margin […]

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