Chris Witkowsky
Ironbridge Equity Partners has completed fundraising on its second private equity fund on C$154 million. The firm beat its original target of C$125 million. Elm Capital worked as placement agent on the fundraising.
The New York State Teachers’ Retirement System committed $460 million to private equity and venture capital in the first quarter, according to a commitment summary from the system.
Consonance Capital Partners has completed the recapitalization of Enclara Health, a national hospice-focused pharmacy services provider. The recap will expand the company's reach in the niche hospice pharmacy benefit manager sector.
Hercules Technology Growth Capital has agreed to provide a term loan in the principal amount of $35 million to a subsidiary of Alimera Sciences, a biopharmaceutical company. Hercules is advancing $10 million to Alimera Sciences Limited and will advance the remaining $25 million in the event the U.S. Food and Drug Administration approves ILUVIEN on or before Oct. 31, 2014 and certain other conditions are satisfied.
Warburg Pincus has agreed to invest up to $100 million in PayScale, which provides cloud compensation data and software-as-a-service for businesses and individuals. The investment will be used to recapitalize the company and fund growth initiatives.
Swander Pace Capital has agreed to sell Insight Pharmaceuticals to Prestige Brands Holdings for $750 million. Kirkland & Ellis worked as legal advisor to Swander Pace on the sale.
To end your week, First Read has news about the rise of venture capital investment in bitcoin, online market DarkMarket solves vulnerabilities that brought down The Silk Road and the untold story of Larry Page's comeback.
GI Partners has closed GI Partners Fund IV at the $2 billion hard cap, beating its $1.5 billion target. Fund IV will continue GI's strategy of control oriented investments in North American middle market companies. UBS worked as placement agent on the fundraising.
The Massachusetts Mutual Life Insurance Co. is close to wrapping up a deal to sell an estimated $250 million portfolio weighted toward mid- market buyout funds.
Russell O'Brien, former senior director at FLAG Capital Management, and Chris DeMeo, former head of investments for the Americas at Towers Watson, have formed investment consulting firm Nu Paradigm Investment Partners. Nu Paradigm will provide strategic advice, implementation of certain asset classes and full portfolio outsourcing.