Iris Dorbian
First Read kicks off the morning with news that SEC Chairman White is stepping down when Obama leaves office, Permira and Symantec are reportedly bidding for LifeLock, while WhatsApp has hit 160 million users in India, it's biggest market.
Baltimore-based eOriginal, a provider of digital transaction management solutions, has raised $26.5 million in funding. LLR Partners led the round. In conjunction with the funding, David Reuter, a partner at LLR Partners, has been added to eOriginal’s board of directors.
Five Points Capital has provided an undisclosed investment to back the LNC Partners-led recapitalization of OutSolve. Based in Metairie, Louisiana, OutSolve is a provider of affirmative action planning and compliance services for federal contractors.
Permal Capital Management has closed its fifth secondary fund at $465 million, beating its $450 million target. The limited partners of PPEO V included public and private pension plans, healthcare institutions, Taft-Hartley plans, foundations, endowments, family offices and high-net worth individuals. The fund will focus on the smaller end of the secondary market.
Second Opinion wraps up the day with news that Steve Mnuchin, an ex-partner at Goldman Sachs, is reportedly the Trump team's top pick for Treasury Secretary, GE buys ServiceMax for $915 million and prominent PBS journalist Gwen Ifill dies of cancer at 61.
TGP Capital Partners has acquired Dynamatic from Woodlawn Partners Inc. No financial terms were disclosed. Based in Sturtevant, Wisconsin, Dynamatic is a maker of variable speed drives, brakes and controls.
Artivest has appointed Stacie Yates as director of business implementation and Justin Rooney as senior manager of client services. Previously, Yates worked at UBS Wealth Management where she served as executive director of product development and management while Rooney was an associate at Third Avenue Management.
Endeavour Capital has made an undisclosed investment in OFD Foods, a freeze dryer based in Albany, Oregon. In addition to the funding, OFD Foods has promoted Jim Merryman to president and CEO.
Perella Weinberg Partners and Tudor, Pickering, Holt & Co. have agreed to merge. The combined company will be called Perella Weinberg Partners while TPH’s energy practice will continue to operate as Tudor, Pickering, Holt & Co. PWP's founding backers will remain shareholders with some providing additional undisclosed funding. No financial terms were disclosed. Thee deal is expected to close in the fourth quarter of this year.
Softline, which is backed by Da Vinci Capital, has named Gordon Brooks as CEO. Softline is a IT solutions and services provider focused on emerging markets.