Richard Shafer has been named interim chief investment officer of the The Ohio Public Employees Retirement System (OPERS), nearly two months after fulltime CIO Jenny Hom stepped down. Shafer joined OPERS in May, after having served as director of investments for the New Hampshire Retirement System and, before that, was chief investment officer of the Alaska Permanent Fund.
Ladder Capital Finance, a New York-based specialty finance company focused on the commercial real estate industry, has filed for a $400 million IPO. Ladder Capital was formed last last year with approximately $1 billion in equity and debt capital, co-led by GI Partners and Towerbrook Capital Partners. It plans to trade on the NYSE under ticker […]
The Lang Companies, a Delafield, Wisc.-based maker of stationary and related products, has filed for Chapter 11 bankruptcy protection. Catterton Partners acquired Lang in 2003, and holds more than a 90% equity position. www.lang.com
Addus Homecare Corp., a Palatine, Ill.-based provider of social and medical services in the home, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol ADUS, with Robert W. Baird and Jefferies & Co. serving as co-underwriters. Eos Partners is the company’s majority shareholder. www.addus.com
American Industrial Partners has completed its buyout of the motor home business of Fleetwood Enterprises Inc. (OTC BB: FLTWQ). The deal was valued at $33.2 million, including certain assumed liabilities. Greenhill & Co. ran the sale process. Fleetwood shareholders include Tennenbaum Capital Partners. Concurrent with the close, Fleetwood laid off 700 employees, but said that American Industrial is expected to make 650 hires over the next few weeks.
Monroe Capital, a Chicago-based merchant bank and specialty finance shop, has formed a mid-market credit advisory practice. It will be led by Mark Gertzof, formerly a managing director with Merrill Lynch Capital, and Christopher Gentry, formerly a director with Concord Financial Advisors.
WILMINGTON, Del (Reuters) – Creditors of Wilton Holdings Inc, one of largest makers of equipment for decorating food, asked a court to put the company in Chapter 11 bankruptcy due to $208 million in debts, according to court documents. A New York affiliate of private equity firm TowerBrook Capital Partners filed the involuntary bankruptcy petition […]
NEW YORK (Reuters) – CIT Group Inc’s board signed off on a deal late Sunday for $3 billion in rescue financing from a group of bondholders, in a plan the lender hopes will stave off bankruptcy, a source close to the situation said. The company, which lends to nearly one million small and mid-sized businesses, […]
(Reuters) – A group of investors in Munich-based Nordwind Capital, including the Harvard and Yale university endowments, blocked a deal where the private equity group wanted to invest in a start-up aiming to consolidate in the in-vitro fertilization industry, the Financial Times said. Nordwind had agreed to invest in Global Fertility AG, a start-up which […]
HONG KONG (Reuters) – Chinese iron ore miner Lung Ming, partly owned by private equity firm Hopu and Singapore’s state investor Temasek, plans to list shares in Hong Kong this year to raise up to $1 billion, sources with direct knowledge of the plan said. If successful, Lung Ming’s IPO would be the first investment […]