Chris Witkowsky
GTCR is partnering with former VeriFone CEO Douglas Bergeron to form Opus Global Holdings, which will focus on acquisitions of companies in the financial technology sector. GTCR plans to invest $450 million, while Bergeron will kick in up to $50 million.
The Carlyle Group will buy Metropolitan Real Estate Equity Management, a global real estate fund of funds manager with more than $2.6 billion in commitments. Carlyle will use equity from its balance sheet for the deal. Financial terms were not disclosed.
GE Healthcare Life Sciences, a unit of GE Healthcare, will build a biopharmaceutical factory in China for venture-backed JHL Biotech. JHL Biotech is a biopharmaceuticals company backed by a consortium of venture firms, including Kleiner Perkins Caufield & Byers China Fund, Sequoia Capital, Burrill & Co and China Development Industrial Bank (CBID).
Washington State Investment Board is slightly reducing its target allocation to private equity. This month the investment board approved up to $700 mln in commitments.
Now that many private equity firms have gone through the time-consuming and expensive process of registering with the Securities and Exchange Commission, two congressmen are questioning the wisdom of the process.
San Francisco Employees' Retirement System's retirement board approved hiring Cambridge Associates and TorreyCove Capital Partners as alternative investment consultants, subject to contract negotiations.
This morning, First Read brings you news about Univision exploring an IPO, Hong Kong being threatened by a monster storm and a former Philadelphia Eagles coach visiting his former team and walking away with the win.
We wrap up your Thursday with news that Joy Covey, former CFO at amazon.com, died tragically in a bike accident, Pinterest is exploring ways to monetize its services and a Texas court has overturned former House Majority Leader Tom DeLay's conviction.
Accolade Partners has closed its fourth fund of funds on $150 million and promoted Atul Rustgi to partner and Andy Salembier to chief operating officer. The firm's third fund closed in 2008. Accolade provides access to endowments, foundations, institutions and individuals to growth equity and venture capital funds.
Former MassPRIM private equity executive Michael Langdon will head up Hermes GPE's Boston office in the wake of the departure of the firm's former US head Delaney Brown.