TA Associates and Reverence Capital to buy Russell Investments for $1.15 bln

TA Associates and Reverence Capital Partners have agreed to acquire Seattle-based investment manager Russell Investments from London Stock Exchange for $1.15 billion. The deal is expected to close in the first half of 2016. As a result of the transaction, Milton Berlinski, a managing partner at Reverence Capital will join Russell Investment’s board of directors as will TA Associates’ Managing Directors Todd Crockett and Roger Kafker. J.P. Morgan and Goldman Sachs are advising LSEG and Russell Investments while Broadhaven Capital Partners is doing likewise for TA Associates and Reverence Capital.


M/C Partners, J.P. Morgan invest in Everstream Solutions

M/C Partners and investors advised by the private equity group of J.P. Morgan Asset Management have invested $50 million in Everstream Solutions, a subsidiary of OneCommunity. As part of the deal, Everstream will acquire a majority of the fiber assets owned by OneCommunity and emerge as a standalone organization. OneCommunity, a non-profit that works to bring fiber-based services to healthcare, government and education customers, will retain a minority interest in Everstream and receive funds to support its work.


Second Opinion

To end your first day back from the long weekend, Second Ops presents some CalPERS and private equity kerfuffle, JP Morgan hired tech banker Greg Mendelson and Sen. Marco Rubio is winning the tech money race.


CCMP-backed Milacron files to go public

Milacron Holdings Corp. has filed to raise up to $100 million via initial public offering. Milacron is a Cincinnati-based plastics processing and industrial fluids company that is owned by CCMP Capital Advisors. Milacron did not disclose the shares it would offer or their price range. BofA Merrill Lynch, Barclays and J.P. Morgan are acting as joint lead book-runners on the IPO.


Apax to buy Azelis

3i has agreed to sell Atlas Holding SA, the holding company of the Azelis Group, to Apax Partners. Financial terms weren’t announced. Azelis is a pan-European speciality chemical distributor. 3i acquired a majority of Azelis in 2007. JP Morgan is providing financing. UBS acted as financial advisor to the Apax funds while Greenhill acted as financial advisor to 3i.


Partners Group completes acquisition of airport passenger terminal

Partners Group along with partners in the Nieuport Aviation consortium have completed the acquisition of the passenger terminal at Billy Bishop Toronto City Airport. The investor consortium comprises Partners Group, InstarAGF Asset Management, Kilmer Van Nostrand and institutional investors advised by JP Morgan Asset Management. Billy Bishop is the ninth busiest airport in Canada and served 2.4 million passengers in 2014.


peHUB First Read

First Read kicks off your hump day with news Alibaba is moving closer to Apple Pay deal, Uber gets sued in Los Angeles and San Francisco and NY likens bitcoin transactions to bartering.


peHUB First Read

First Read ends your week with Starbucks planning on launching a high-end chain, JP Morgan continues its run as a top-ranked investment bank and a court rules that chimpanzees are not people and not entitled to legal rights.

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