Iris Dorbian
First Read ushers in the day with news that Andreessen Horowitz closes a new crypto fund at $300 million, Instagram is estimated to be worth more than $100 billion, and GE is spinning off its healthcare unit and separating Baker Hughes.
Chune Loong Lum has rejoined the law firm Ropes & Gray's private investment funds practice as counsel in Hong Kong. Previously, Lum worked at Skadden, Arps, Slate, Meagher & Flom.
In Second Opinion, AT&T confirms it is buying ad platform AppNexus, the first marijuana-based medine is approved for sale in the U.S. and Harley-Davidson plans on moving its production overseas to avoid EU tariffs.
London and New York-based investment firm TowerBrook has raised a total of $5.3 billion for two funds.
Webster Capital has formed ShelterLogic Group, which comprises ShelterLogic, Sojag and RIO Brands. The newly combined group is a maker of outdoor products.
Los Angeles-based AXS, a ticketing, data, and marketing solutions provider, has named Rob Sine as chief revenue officer. Previously, Sine was president of IMG Learfield Ticket Solutions. AXS Group is backed by TPG Capital.
SALU Capital, Apex Group Ltd, Genstar Capital and Inlife Holding have acquired "at least" 95 percent of the shares of Augur Capital's private equity fund AFO-2. No financial terms were disclosed. The portfolio companies included in AFO-2 were myLife, a German insurer and LRI Group, a Luxembourg-based fund administration business. As part of the secondary buyout deal, LRI will become part of Apex, a portfolio company of Genstar while myLife will become an affiliate of Inlife.
Kramer Laboratories Inc, which is backed by Avista Capital Partners and Dana Holdings, has acquired Nizoral, an anti-dandruff shampoo brand. The seller was Janssen Pharmaceutica NV. No financial terms were disclosed. Ropes & Gray LLP provided legal counsel to Avista on the deal.
This week’s jobs include a VP at Invesco, an investment officer at CalSTRS and an associate at GQR.
United Claim Solutions, a portfolio company of Great Point Partners, has acquired Portsmouth, Ohio-based Zebu Compliance Solutions, a provider of payment integrity and ongoing credentialing solutions to payors, clearinghouses and provider organizations. No financial terms were disclosed.