Iris Dorbian
Second Opinion wraps up the day with news that Snap will spend $1 billion on Amazon cloud services through 2021, a big layoff could be happening at Kellogg's while Zenefits has already cut 45 percent of its staff and a big snowstorm pounds the Northeast.
Gerding Edlen has raised $411 million for its third fund, according to an SEC filing. Based in Portland, Oregon, Gerdling Edlen develops and manages green buildings.
Tailwind Capital has made an undisclosed investment in AST. Headquartered in Naperville, Illinois, AST is a provider of Oracle-based solutions for companies.
BC Partners has launched BC Partners Credit, a new credit platform. Ted Goldthorpe, a former president of Apollo Investment Corp, has been appointed a managing partner to launch and oversee BC Partners Credit. Goldthorpe will be based in New York.
BB&T Capital Markets has expanded its investment banking team with three new hires. David Keys joins as a managing director and head of the newly formed healthcare group; Dave Endom has been named a vice president in the same group; and Tim Lufkin has been appointed managing director in the financial sponsors group.
Paine & Partners has renamed the firm to Paine Schwartz Partners LLC. The name change is effective immediately. Dexter Paine, a founding partner of the private equity firm, will remain as chairman while Kevin Schwartz, another founding partner and former president, has been tapped as CEO.
Quad-C Management has made an undisclosed investment in Pharm-Olam International Ltd. Based in Houston, Texas, Pharm-Olam is a clinical research organization for the biopharmaceutical and medical device sectors.
Sun Seven Stars has agreed to acquire a majority stake in Grapevine, a social media influencer platform. No financial terms were disclosed. Grapevine's backers included Boston Seed Capital and MassVentures.
Lone Star has acquired Bentley Mills from Dominus Capital. No financial terms were disclosed. California-based Bentley Mills is a maker of broadloom and modular carpet tile for the commercial carpet industry.
Calera Capital has acquired a majority stake in Pennsylvania-based Evans Network of Companies, a provider of of intermodal, flatbed, brokerage, dry van and other trucking services. No financial terms were disclosed.