The pendulum swings back

As well performing and highly sought-after GPs run through fundraising in an increasingly friendly market, LPs have seen a weakening of governance standards in fund documents.


Stella Point Capital invests $55 mln in Rightpoint

Stella Point Capital invested $55 million in Chicago-based Rightpoint, a digital agency and technology consultant. Rightpoint’s co-founders Ross Freedman and Brad Schneider, and the company’s leadership team will stay in place.

GTIS Partners, GP Investments buy Brazil Hospitality Group

GTIS Partners and GP Investments have closed their August 2014 $400 million tender offer for the shares of Brazil Hospitality Group, a Brazilian hotel owner. The deal gives GTIS Partners an about 70 percent stake in the company, with the remainder owned by GP Investments. The deal gives GTIS and GP Investments 52 hotels to operate, comprising 10,000 rooms, mostly in Sao Paulo and Rio de Janeiro’s oceanfront.

Presidio Residential Capital hires real estate veteran Prosi

Presidio Residential Capital hired Linda G.H. Prosi to work on legal entity formation, loan review and tracking, audit compliance and transaction closings. Prosi previously worked as a reasonable accommodation facilitator for Warren Properties. She also worked as vice president of acquisition services for Newland Real Estate Group.


Comvest, CapX win bankruptcy auction to buy Karmaloop

A Delaware bankruptcy court judge authorized Comvest Partners and CapX Partners to buy all of online clothing retailer Karmaloop, Inc’s business out of bankruptcy. Karmaloop’s businesses include karmaloop.com, PLNDR, Kazbah and Karmaloop Europe. Comvest and CapX also will invest growth capital into the business. Comvest and CapX previously provided the company with a debtor-in-possession loan to support the business through bankruptcy.

new job (1)

Alcatel-Lucent PE official Anderson to join TIFF

Chris Anderson, senior manager of private equity at Alcatel-Lucent Investment Management Corp, is leaving the company to take on a private equity role at The Investment Fund for Foundations (TIFF), according to a spokeswoman at TIFF and a “friends and family” email from Anderson.

NEA leads $38.9 mln Series B funding in Intact Vascular

New Enterprise Associates led a $38.9 million Series B funding round in Intact Vascular, Inc., which develops medical devices for minimally invasive vascular procedures. Other participants in the funding included Quaker Partners, H.I.G. BioVentures and other existing investors. NEA Partner Justin Klein joined Intact Vascular’s board. Press Release Intact Vascular, Inc., a developer of medical […]

Sidley Austin hires Simpson Thacher exec Dan Clivner

Sidley Austin LLP has hired Dan Clivner as co-managing partner of the Los Angeles office and a member of the mergers and acquisitions and private equity practices. Clivner joined Sidley Austin from Simpson Thacher & Bartlett LLP, where he worked as the Los Angeles managing partner since 1998.

SEC (1)

SEC eyes stapled secondary deals

The U.S. SEC is scrutinizing whether limited partners in funds subject to secondary transactions are getting bad deals, according to Igor Rozenblit, co-head of the Private Funds Unit in the SEC’s Office of Compliance Inspections and Examinations.


DFW Capital-backed Triple-i adds-on Creative Computing Solutions

DFW Capital Partners-backed Information Innovators Inc (Triple-i), an information technology services business, has acquired Creative Computing Solutions Inc. DFW invested additional capital in the form of preferred equity and expanded Triple-i’s senior and subordinated debt facilities as part of the transaction.

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