Chris Witkowsky
We wrap up your Thursday with news that Joy Covey, former CFO at amazon.com, died tragically in a bike accident, Pinterest is exploring ways to monetize its services and a Texas court has overturned former House Majority Leader Tom DeLay's conviction.
Accolade Partners has closed its fourth fund of funds on $150 million and promoted Atul Rustgi to partner and Andy Salembier to chief operating officer. The firm's third fund closed in 2008. Accolade provides access to endowments, foundations, institutions and individuals to growth equity and venture capital funds.
Former MassPRIM private equity executive Michael Langdon will head up Hermes GPE's Boston office in the wake of the departure of the firm's former US head Delaney Brown.
Second opinion has the Fed holding steady with its bond buying program, Morgan Stanley AIP getting into the fund restructuring game and a bunch of drunken Scots dancing in the aisles of a Ryanair flight forcing an emergency landing.
TA Associates has completed a majority investment in Arxan Technologies, which provides software security solutions. Terms of the deal were not disclosed.
As another week comes to a close, Alec Baldwin is getting his own late-night show, young people are smoking more electronic cigarettes and the NSA is excelling at breaking encryption protection. Happy Friday!
Specialty plastics processor Pexco has acquired the Minnesota-based operations of Spectrum Plastics, making its first foray into the injection molding business. Spectrum Plastics has been owned by Shell Capital Partners, a Minnesota-based private equity firm.
GSO Capital Partners, the debt investing affiliate of The Blackstone Group, increased the size of its second “rescue financing” fund to account for the large opportunity in the market to help companies facing various types of distress.
Money manager The Rohatyn Group has turned itself into a major emerging markets player with the acquisition of Citi’s private equity emerging markets team Citi Venture Capital International.
Dutch pension fund administrators PGGM and APG are two emerging LPs to watch as they gradually build their internal teams since they decided to sell their stakes in fund-of-funds AlpInvest in 2011.