Iris Dorbian
Confie Seguros, which is backed by ABRY Partners, has bought Baja Auto Insurance, a Dallas-based auto insurance provider. No financial terms were disclosed.
First Read eases you over the Tuesday doldrums by bringing you news of Facebook offering a free internet app in India, Deloitte breaks the gender barrier among the big four accounting firms by naming a female CEO and beware, your smart TV may be spying on you.
The new week ushers in a slew of job opportunities. Highlights include an M&A vice president at Duff & Phelps and private equity associates at Neuberger Berman and Investure. Also up for grabs are a PR manager spot at Privateer Holdings and a VP of private equity business development at StepStone .
In Second Opinion, Qualcomm nears a $1 billion deal to resolve its China antitrust dispute, Netflix launches in Cuba and the payout to Bernie Madoff's victims tops $7.2 billion.
Investment firm Commonfund has hired Jack H. Foster as managing director, private equity specialist. Previously, Foster worked at Capital Dynamics Inc where he served as a senior vice president.
MW Industries, a portfolio company of Genstar Capital, has acquired Helical Products Company Inc. No financial terms were disclosed. Based in Santa Maria, California, Helical is a producer of standard and custom couplings, U-Joints, and machined springs.
Vine Alternative Investments Group has closed its third fund at more than $500 million, beating its initial $300 million target.
Independent Bankers Capital Funds has raised about $100 million in capital commitments for its third fund. Designated as a Small Business Investment Company by the Small Business Administration, Fund III has received $33 million from mostly Texas community banks; the remaining $67 million will be provided by the SBA. Fund III will focus on backing lower middle market companies in the South, with an emphasis on Texas. According to IBCF, each investment will be between $3 million and $7 million.
New Page Capital has bought Sophia, North Carolina-based Engineered Steel Products, a structural steel manufacturer. No financial terms were disclosed. Bundy Group advised Engineered Steel Products on the transaction.
LGT Capital Partners has closed its first co-investment fund at $432 million. The limited partners of Crown Co-Investment Opportunities plc include pension funds, endowments and family offices in Europe, the U.S. and the Middle East.