Five Star Painting, a Springville, Utah-based provider of call-center support for residential and commercial painting franchisees, has raised $300,000 from InnoVentures Capital Partners. PRESS RELEASE InnoVentures Capital Partners today announced a $300,000 investment in franchisor Five Star Painting. Five Star provides residential and commercial painting franchisees with 24/7 call center support, reliable and easy-to-use estimating […]
(Reuters) – Hedge-fund pioneer Paul Tudor Jones and veteran stock picker James Pallotta are splitting after a 15-year old partnership, in a move that could affect their $18 billion fund empire, according to media reports on Thursday. The reports, citing an Aug 6 letter sent by Tudor Investment Corp to investors, said Pallotta will form […]
(Reuters) – Harvard University's endowment fund has made a gain of 7 percent to 9 percent for the fiscal year ended June, boosted by investments in commodities, Treasuries and some strong hedge-fund performers, the Wall Street Journal said on Thursday, citing people familiar with the returns. The returns were below the endowment's average annual return […]
(Reuters) – Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) CEO Dick Fuld has held talks with private-equity and foreign investors, including some from South Korea and other parts of Asia, about possibly raising more capital as he tries to offset a sale of $30 billion in hard-to-value mortgage assets, The New York Post said […]
LONDON (Reuters) – Montagu Private Equity has hired Morgan Stanley to look at strategic options for BSN Medical, a move which could lead to a sale of the business for up to 1.7 billion euros ($2.64 billion), a person familiar with the situation said on Thursday. The private equity firm bought the Hamburg-based bandage maker […]
NEW YORK (Reuters) – Investment banking firm Moelis & Co. said on Wednesday it hired veteran private equity executive Greg Share to expand its buyouts practice. Share joins from Fortress Investment Group (FIG.N: Quote, Profile, Research, Stock Buzz), where he was a managing director in the private equity group, most recently focusing on financial services […]
NEW YORK/PHILADELPHIA (Reuters) – Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), the private equity company, reported lower quarterly profit on Wednesday, but still topped estimates, and said it sees increasing investment opportunities despite volatile markets. Second-quarter earnings plunged to $99.9 million, after taxes but before noncash charges for vesting equity-based compensation and amortization […]
Fulcrum Group, a UK-based outsourced administrator for hedge funds and the alternative asset management industry, has agreed to merge with Butterfield Fund Services, a provider of administration services for investment and pension funds. Existing Fulcrum shareholder 3i Group will retain a majority interest in the combined entity. www.3i.com
N+1, the Spanish alternative asset management group has paid EUR 18m (US$28m) for a 35% shareholding in Access Capital Partners. Access is primarily owned by Nordic asset management group Capman Plc. It specialises in small to mid-market traditional buyouts, as well as buyouts in the technology space and special situation opportunities and has EUR 2.5bn […]
A report has suggested that HBOS, the UK bank that last week reported that pre-tax profits halved in the first half of the financial year, wants to reorganise its integrated finance operation. This could result in the sale of some of the unit's major investments, such as social housing maintenance provider Keepmoat. Bank of Scotland […]