Hellman & Friedman to buy Edelman Financial Services

Hellman & Friedman LLC has agreed to acquire financial planning company Edelman Financial Services. No financial terms were disclosed. According to terms of the deal, H&F will own the company while Edelman’s senior management and current owner Lee Equity Partners will retain a “meaningful” stake. Morgan Stanley and UBS Investment Bank provided financial advisors to H&F on the transaction while Evercore advised Lee Equity and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Lehman & Eilen LLP advised Edelman’s management.

handing out money (1)

Lee Equity offers LPs chance to sell Fund I stakes at premium

Lee Equity Partners is restructuring its first and only fund, giving limited partners the option to sell their interests at a premium to net asset value or to roll into a new vehicle that will house the remaining portfolio companies, according to three people with knowledge of the process.


General Atlantic acquires stake in Aimbridge Hospitality

General Atlantic has made an undisclosed investment in Aimbridge Hospitality, a hotel investment and management firm. Lee Equity Partners is also a backer of Aimbridge. Moelis & Company and Weil, Gotshal & Manges LLP advised Aimbridge while Paul, Weiss, Rifkind, Wharton & Garrison LLP did likewise for General Atlantic.


Lee Equity buys iModules Software

Leeds Equity Partners has acquired iModules Software. Financial terms weren’t announced. Leawood, Kan.-based iModules provides software for the educational institutions. Aeris Partners advised iModules.


InterLuxe acquires stake in fashion brand Jason Wu

New York-based fashion brand Jason Wu has received an undisclosed investment from InterLuxe, a platform that seeks to invest in emerging fashion and luxury brands. Lee Equity Partners teamed up with Allen Questrom, Gary Wassner, and Melissa Beste to launch InterLuxe.


PE-backed Papa Murphy’s Holdings files for IPO

Papa Murphy’s Holdings has filed for an IPO. The number of shares that will be offered as well as the pricing terms have yet to be set. The stock will list on the NASDAQ under the ticker symbol “FRSH.” Jefferies, Robert W. Baird & Co. and Wells Fargo Securities will serve as the lead underwriters. Based in Vancouver, Washington, Papa Murphy’s Holding, which is backed by Lee Equity Partners, is a pizza chain franchisor.

Trinity Hunit Sells Eating Recovery Center

Trinity Hunt Partners has sold its stake in Eating Recovery Center. The buyer is Lee Equity Partners, which acquired the holding via a recap. Financial terms were not announced. Denver-based Eating Recovery provides treatment for anorexia, bulimia, EDNOS and binge eating disorder. William Blair & Co. advised Eating Recovery.

The Edelman Financial Group and Lee Equity Go Shop Expires

The Edelman Financial Group has announced that the “go shop” period set forth in the previously announced merger agreement has expired. The Edelman Financial Group agreed to sell itself to Lee Equity Partners for $8.85 a share cash in April. PRESS RELEASE The Edelman Financial Group Inc. today announced that the “go shop” period set […]

Lee Equity to Buy Edelman Financial –UPDATED

The Edelman Financial Group said Monday that it has agreed to sell itself to Lee Equity Partners for $8.85 a share cash. The offer represents a 43% premium to Edelman’s closing share price of $6.18 Friday. The transaction is expected to close in third quarter. Houston-based Edelman Financial is a wealth management firm. Ric Edelman […]

MidCap Extends Credit Facilities to $900M Plus

MidCap Financial, a commercial finance company backed by Genstar Capital, Lee Equity Partners, and Moelis Capital Partners, has extended and renegotiated its four primary credit facilities to now exceed $900 million. The company launched in September 2008, and focuses on middle market healthcare finance. The company is based in Bethesda, Maryland.

Debt Fells Lee Equity’s Deb Shops, Co. Files Ch. 11

(Reuters) – Philadelphia-based women’s clothing retailer Deb Shops Inc filed for bankruptcy protection in a Delaware court on Sunday as part of a financial restructuring that involves selling the company to a group of senior lenders. Abelco Finance provided a stalking horse bid; Lee Equity will also receive a stake in the company going forward.


Schwarzman, At $5.9B, Among Richest LBO Pros (Well Ahead Of Kravis): Corrected

My colleague Alastair Goldfisher took a swing already at the venture capitalists on the Forbes list of the world’s billionaires. Perhaps it’s no surprise there are more dudes from the buyouts world (and way predominantly, these superwealthy folks are of the male persuasion) on this list than there are from VC.

The thing that may be more surprising is that the richest of the rich in the buyouts world, although they swim in the same waters as the fund managers we focus on here, don’t play with the same pools.

Consider, for instance, Warren Buffet, No. 3

Forstmann, Milken, Icahn Take Philanthropic ‘Giving Pledge’

When another 17 billionaires joined the campaign by bridge partners Bill Gates and Warren Buffett to commit to give at least half their fortunes away to philanthropy, it got us to wondering about the participation by the dealmakers from our world.

So we ran a little crosstab between the names on The Giving Pledge site against the buyout and VC dealmakers on the Forbes 400.

We thought we would share with you those who are participating, and equally interesting, those who are not yet. (Wanna guess which list is longer?)

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