Angela Sormani
Graham Holdings Company has named Timothy O’Shaughnessy, co-founder and former CEO of LivingSocial, as its president. O’Shaughnessy stepped down as chief executive officer of LivingSocial in August. During his tenure, the e-commerce and marketing company grew to sales of nearly $2 billion.
Three Hills Capital Partners has reached a final close of its first fund at the hard cap of 100 million euros ($127 million) reaching the high-end of the initial target. Three Hills Capital Partners was founded in November 2013 by Mauro Moretti, a former partner at Hutton Collins which he joined in 2008 from BC Partners.
Stealth tech startup C3DNA has raised a $2 million seed round. The financing was led by Kumar Malavalli, co-founder and former CTO of Brocade Communications. The round also included C3DNA CEO and serial entrepreneur Paul Camacho, among other unnamed parties.
This morning First Read brings news of Quantum's Fund VI progress, KKR appointing a relationship management expert, healthcare opportunities apparently exploding and PE fundraising slowing in Q3 2014.
Welsh, Carson, Anderson & Stowe has sold portfolio company GlobalCollect to Ingenico Group. WCAS generated sale proceeds of approximately $815 million, which will be distributed to the partners.
Macquarie Group's Macquarie Infrastructure and Real Assets (MIRA) has reached a final close of Macquarie Infrastructure Partners III on its $3 billion hard cap. The fund exceeded its $2 billion target.
Palladium Equity Partners has backed Pronto General Agency. Headquartered in Brownsville, TX and founded in 1997 provider of auto insurance solutions and other insurance products.
Galena Asset Management has closed its first private equity resources fund with $400 million of total committed and invested assets. The fund invests in both the equity and debt of small-to medium-sized metals and mining companies.
Parthenon Capital Partners has sold portfolio company Sequoia Golf Holdings to ClubCorp for approximately $265 million. Headquartered in Atlanta, GA, Sequoia owns or operates 50 private clubs, semi-private and resort golf facilities located across the U.S.
Netuitive, a provider of IT analytics, has secured an additional $6.5 million in equity financing. The financing was led by MK Capital and Rembrandt Venture Partners. Cross Creek Advisors and Columbia Capital also participated.