Guggenheim Partners said Thursday it named Henry Silverman to be a senior advisor and vice chairman of its investment management business effective March 16. He will be based in New York. Silverman joins from Apollo Global Management, where he was a director and vice chairman of the board as well as a member of the executive committee. […]Continue
The auction of Deutsche Bank Asset Management has apparently hit some roadblocks. But two bidders could still be in the running.Continue
TastemakerX has raised $1.8 million in funding. Investors include Guggenheim Partners, Baseline Ventures, True Ventures, AOL Ventures and Tekton Ventures. The company has also attracted Internet and music industry advisors John Battelle, Marc Geiger, Ian Rogers, Paul Bricault and Ted Rheingold and angel investors Andrew Anker, Mich Mathews, Michael Kassan and Mike McGinley. TastemakerX is […]Continue
Alara Capital has spun off from Guggenheim Partners. Alara, which has offices King of Prussia, Pa. and Austin, Texas, is the former Guggenheim Venture Partners. All of GVP’s team’s has moved to Alara.Continue
Access Industries is buying Warner Music Group in a $3.3 billion deal. Access, which is paying $8.25 a share, beat out a bid from Tom and Alec Gores’ Platinum Equity/Gores Group. Access also trumped an offer from Sony whcih partnered with Guggenheim Partners and investor Ron Perelman. Goldman Sachs and AGM Partners advised Warner, while Credit Suisse and UBS served as financial advisors to Access.Continue
Publicly traded energy company Exelon Corp. has named Drew Ierardi to the post of portfolio manager for private market investments. Ierardi was formerly an associate at Guggenheim Partners, where he served in the hedge fund group. He has worked previously in various roles at Morgan Creek Capital Management and Cambridge Associates.Continue
New York-based iQor Holdings has acquired business process outsourcing company RMS. Financial terms of the deal were not released. In addition to the acquisition, iQor also raised an undisclosed amount of funding from its majority shareholder Huntsman Gay Global Capital, and from Citi Venture Capital International and Starr International Company. Chicago-based Guggenheim Partners provided debt financing. RMS is based in Bethlehem, Penn.Continue
The Forbes brand has always been associated with financial services, but almost always from the media bleachers. Until now.
peHUB has learned that a new effort called Forbes Private Capital Group recently launched, with plans to raise third-party capital for private funds and transactions. Much of the marketing will be aimed at wealthy families and individuals — i.e., Forbes’ target market — although it also will work to raise money from institutional investors.
The man in charge is Todd Morley, who isn’t new to this sort of thing. In 1999, he co-founded Guggenheim Partners, which now has $100 billion in assets under management. He more recently founded an investment management firm called G2 Investment Group, which is where Forbes Private Capital Group will be housed.
“I have a social relationship with some of the Forbes family from my time with Guggenheim, so they are very familiar with what we did over there,” Morley says. “I think they saw this as a natural segue from the media business into the financial services business.”Continue
Limited partners in VC funds have grown more restless and demanding over the last year, as the economy has weakened and funds raised during the dotcom bubble have wound down.
They’re asking for stronger guarantees on returns, lower management fees and other concessions even from top-tier venture capital firms — something they haven’t done before, says T. Hale Boggs, a partner in the venture capital practice of law firm Manatt Phelps & Phillips.
But Boggs’ clients are also seeing more positive ways to get money back to LPs, he says, thus “making lemonade out of lemons.”Continue
Guggenheim Partners, a financial services firm with private equity and venture capital affiliates, has agreed to acquire Claymore Group, a provider of ETFs, closed-end funds and unit investment trusts. No financial terms were disclosed for the deal, which is expected to close later this quarter.Continue
Looks like Guggenheim Partners, a 10-year-old money management firm with assets in fixed income, real estate, hedge fund, and commercial aircraft, has raised a new, early-stage venture capital fund, according to an SEC filing. Helped by the Zurich-based placement agent Moravia Capital, the fund, which had a $10 million first close in early summer, has […]Continue
Guggenheim Partners has expanded into India by acquiring the India-focused private equity fund of funds operated by Thomas Weisel Partners. The funds, called Thomas Weisel India Opportunity Fund, will retain their managers. Press Release: Guggenheim Partners, LLC today announced an expansion of its investment management capabilities into India via a transaction with Thomas Weisel Partners […]Continue
(Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) seized tens of millions of dollars of collateral from a commercial property debt fund run by Guggenheim Partners LLC, the Wall Street Journal said citing people familiar with the matter. The move followed the fund’s failure to provide additional capital to meet margin […]Continue