Iris Dorbian
Lightyear Capital has agreed to sell RidgeWorth Holdings LLC, the holding company for asset manager RidgeWorth Capital Management, for $472 million. The buyer is Virtus Investment Partners Inc. RBC Capital Markets LLC and Davis Polk & Wardwell LLP provided financial advice to RidgeWorth on the transaction while Barclays Capital and Morgan Stanley & Co. LLC did likewise for Virtus.
CenterGate Capital Partners has raised $350 million for its oversubscribed maiden fund, beating its $300 million target. CenterGateFund I will focus on lower mid-market companies in North America. The fund's limited partners include foundations, private pension plans, insurance companies, funds of funds, and family offices.
Nexif Energy, a portfolio company of Denham Capital, has acquired OneWind's late-stage development wind projects: Lincoln Gap in South Australia and Glen Innes in New South Wales. Also, Nexif has acquired OneWind's 32 percent stake in RPVD Development Pty Ltd, owner of the Walkaway II wind and solar projects in Western Australia. No financial terms were disclosed.
First Read ends your week with news Oracle's co-CEO Safra Catz is joining Trump's transition advisory team, Wells Fargo will no longer pay bonuses to brokers for selling loans and Bitcoin's rally beats every other currency this year.
In Second Opinion, Yahoo's stock tanks amid fears that Verizon could scrap the deal due to Yahoo latest hacking attack disclosure, the U.S. dollar surges to a 14-year-high as the Federal Reserve raises interest rates and Tokyo regains its title as the most expensive city for expatriates.
New York City-based Cota, a healthcare informatics and precision analytics company, has secured $18 million in funding. The investors included Boston Millennia Partners. Concurrent with the funding, A. Dana Callow Jr, a partner at Boston Millennia Partners, has been added to Cota's board of directors.
RealBiz Media Group, a provider of home video tours for the real estate industry, has hired Anshu Bhatnagar as CEO. His appointment becomes effective January 2, 2017. The company's current CEO Alex Aliksanyan will stay with RealBiz and serve as president of real estate operations. Bhatnagar is a managing member of the private equity firm Blue Capital Group.
BlackRock will be making an investment in iCapital Network, a financial technology platform that provides high-net-worth investors and their advisers access to private equity and hedge funds. No financial terms were disclosed. In addition to the investment, Frank Porcelli, chairman of BlackRock’s US wealth advisory business, has been added to iCapital's board of directors.
International family office Stonehage Fleming has closed its inaugural annual fund with $166 million raised for the strategy, including separate accounts.
Israeli food and drinks maker Strauss Group said on Thursday that U.S. buyout firm TPG Capital Management was looking to sell its 25.1 percent stake in one of the group's units, Strauss Coffee.