Connie Loizos
Facebook's global VP of communications heads out the door after just 15 months, Blackstone looks to unload a property for $1.3 billion, 67 percent more than it paid for it 18 months ago, and Fortune features the eleven best new cars in America. And more!
The European Bank for Reconstruction and Development (EBRD) , has committed $75 million to two new Russia and CIS-focused private equity funds that have collectively raised $1.45 billion in commitments. The funds are expected to primarily focus on consumer-oriented goods and services, as well as natural resources.
SL Green Realty, which refers to itself as New York City's largest office landlord, has teamed up with an affiliate of Blackstone Real Estate Partners, Gramercy Capital and Square Mile Capital Management to jointly recapitalize a 31-property, 4.5-million-square-foot office portfolio in Southern California. Following the recapitalization, Blackstone is now the majority owner of the venture.
Primerica, the Duluth, Ga.-based financial services company, is repurchasing 2,087,682 shares of Primerica common stock owned by Warburg Pincus at a purchase price of $28.74 per share. Following the transaction, Warburg will own approximately 15 percent of Primerica's outstanding common stock and approximately 20.7 percent including the warrants to purchase Primerica common stock that's currently held by Warburg Pincus.
Burner Systems, a Chattanooga, Tenn.-based company that produces gas-fueled appliance components, has acquired certain assets of CEM S.A. Group of Chile, a Chilean-based maker of top burners, valves and other related components. Terms of the deal were not disclosed. Burner systems is backed by the private equity firm Aterian Investment Partners.
Longtime Kleiner Perkins partner Ellen Pao may have chosen an odd way to reveal to the world that she’s no longer working at the firm, taking to the social network Quora to announce the development. But from a financial, legal, and public relations’ standpoint, Kleiner Perkins may wind up the big loser in this latest chapter of its ongoing saga with Pao.
The San Francisco-based private equity firm Sverica International has promoted Jordan Richards to managing director. Richards joined the firm in 2009.
Triton Diving Services, a Boulder, Colo.-based affiliate company of the private equity firm Grey Mountain Partners, has acquired the diving assets of Lousiana Oilfield Divers, including a 208-foot vessel that Triton hopes will strengthen its position as a commercial diving contractor operating in the Gulf of Mexico. Terms of the deal were not disclosed.
Atlanta-based Global Payments, a publicly traded electronic transaction processing company, has acquired Accelerated Payment Technologies of Pleasant Grove, Utah for $413 in cash from the private equity firm Great Hill Partners.
The head of AshleyMadison.com, an online site for adulterers, thinks U.S. executives at Groupon are terrible prudes, not to mention poor businesspeople.