Chris Witkowsky
As its nears its second exit from a portfolio company via IPO, Artiman Ventures said it will raise a fifth formal investment fund next year that could be larger than any fund the firm has raised since its debut fund in 2000, according to VentureWire.
Kinderhook Industries-backed Rizzo Environmental Services has acquired V&M Corporation (Royal Oak Recycling), one of the largest independent recyclers of paper, plastic and metal materials in the Midwest. The deal represents the 15th environmental services transaction completed by Kinderhook.
To cap off this lovely late fall week, First Read brings you news about Twitter employees feasting and celebrating, a screed against the warrior culture in the NFL and the tech industry's woman problem.
The Riverside Company has made a majority investment in ARCOS, which provides a suite of software products to the utilities industry. US Bank provided the financing and Jones Day and Deloitte advised Riverside on the investment.
Scott Meyer has joined executive search firm McDermott & Bull Executive Search as principal consultant to help in the expansion of the firm's consumer products and private equity practices. Meyer has past experience working in management positions as private equity portfolio companies, as well as consulting for multiple private equity portfolio companies owned by firms such as Harbinger Capital Partners and MidOcean.
Blumberg Capital has closed its third fund, a $150 million venture fund that focused on seed and early stage investing in tech startups. The firm reaped a 52x return on its initial investment in HootSuite, according to David Blumberg, the firm's managing partner.
The real estate private equity sector is positioned for growth in 2014, according to fresh research from accounting firm EY. Global Market Outlook: Trends in Real Estate Private Equity reports global real estate is entering a "broad up-cycle" and "private equity funds are heading down a path toward growth." EY estimates 425 funds are in the market on a regular basis and the top 10 funds attract roughly 50 percent of all investment capital, leaving more than 400 funds to fight for the remaining 50 percent.
Vista Equity held a first close on about $120 million for its debut debt fund in October, and has been discussing a possible target of $3.5 billion for its next flagship fund, which may launch this year.
Catharine Burkett, who was hired to help build the private equity program at the Georgia Division of Investment Services, left the system recently to take a job in the private sector.
Atlantic Express Transportation Corp filed for Chapter 11 bankruptcy protection late on Monday, a court filing showed, as the school bus operator faces a union battle, weak earnings, and cash shortage. Two funds of Wayzata Investment Partners, a private equity firm that specializes in purchasing distressed companies and assets, own about 63 percent of Atlantic Express, according to the filing.