Iris Dorbian
CITIC Capital Partners has closed its third oversubscribed Japan buyout fund at a hard cap of JPY30 billion or $267 million, beating its initial target of JPY25 billion (approximately $222 million). CITIC Capital Japan Partners III's limited partners included sovereign wealth fund, financial institutions, pension fund and fund–of-funds.
IBID Group has acquired Malta-based Riverplay, an online gaming platform. Riverplay will be renamed as Pragmatic Solutions. No financial terms were disclosed.
First Read kicks off the week with news that LabCorp was reportedly in talks to buy Pharmaceutical Product Development LLC for more than $8 billion, Obamacare enrollment lags under the new Republican administration, and parent of Bob's Stores files for bankruptcy.
Tecum Capital Partners has hired Sean Edmonson as an associate. Previously, Edmononson worked at Brown Gibbons Lang's investment banking practice. Also, the firm has added Megan Dahlinger to its staff as an office manager.
Kiddar Capital has launched a new fund that will invest in technology that modernizes the real estate, construction, automation and logistics sectors. The firm seeks to raise $25 million for Kiddar's Built World Fund.
Convergint Technologies, a portfolio company of KRG, has acquired Post Browning. No financial terms were disclosed. Post Browning is a provider of consultation, installation and maintenance for the retail banking industry.
Second Opinion ends the week with news that President Trump has signed executive actions that will scale back Dodd-Frank, Macy's could be getting a new owner and Google is selling its Terra Bella satellite imaging business to Planet Labs.
Bain Capital Private Equity has closed its previously announced buyout of Red Bank, New Jersey-based Innocor Inc, a maker of advanced foam products. The seller was Sun Capital Partners. No financial terms were disclosed.
Volta Global has acquired a former Sports Authority in Orlando, Florida. The property will be converted into a self-storage facility. No financial terms were disclosed. The project is expected to be completed within six months.
Los Angeles-based Social Reality Inc, an internet advertising company, has appointed Derek J. Ferguson to its board of directors. Ferguson is a former principal at Victory Park Capital Advisors LLC and an ex-vice president at Maxim Partners.