Chris Witkowsky
Fresh research shows in the third quarter, "up rounds" (in which the price per share at which a company sells its stock has increased since its prior funding round) exceeded "down rounds" (in which the price per share has declined since the prior funding round) 73 percent to 8 percent, with 19 percent flat, according to a survey from law firm Fenwick & West. The third quarter numbers were significantly improved from the second quarter, when up rounds exceeded down rounds 64 percent to 22 percent, with 14 percent flat, according to the survey. The third quarter numbers represented the largest amount by which up rounds exceeded down rounds since the third quarter of 2007.
J.F. Lehman & Company has sold Drew Marine, a manufacturer of advanced performance chemicals and safety solutions for the maritime and offshore markets, to The Jordan Company.
Barclays has named Chris Sullivan as head of its financial sponsors group for the Americas, according to an internal memo.
Some big changes are afoot at Spanish firm N+1 Mercapital, where chief executive officer Javier Loizaga has resigned as CEO, though he remains a partner and shareholder, according to a letter from the firm to its investors seen by peHUB.
Littlejohn & Company is out talking to limited partners about launching its fifth fund with a potential target of $1.5 billion, according to a person who has heard the fundraising pitch.
Leading Formula One shareholder CVC said its plans to float the motor sport business on the stock market remained on hold but it was still a goal of the private equity fund.
Littlejohn & Company is out talking to limited partners about launching its fifth fund with a potential target of $1.5 billion, according to a person who has heard the fundraising pitch, sister news service peHUB reported.
The Blackstone Group has established B2R Finance to provide residential buy-to-rent mortgages for property investors, focused on the financing needs of single-family home investors. B2R's products are tailored to investors with portfolios of five to 500 homes nationwide. Blackstone financed the creation of B2R with capital from its Tactical Opportunities funds.
GTCR has completed the sale of national security and defense intelligence services provider Six3 Systems to CACI International, a provider of information solutions and services to government customers, for $820 million. Six3 Systems was formed in 2009 by industry veteran Bob Coleman in partnership with GTCR.
Connecticut’s state Treasurer Denise Nappier is considering making a commitment of $125 million to Apollo Global Management’s eighth fund.