PEI Staff
NXT Capital promoted Stacia Kopplin to managing director of risk management. Prior to joining NXT in 2011, Kopplin was director of risk management at Merrill Lynch Capital.
In Friday's Second Opinion, Russian billionaire Fridman invests $200 million in Uber, Paulson plans a $1.5 billion private equity fund for troubled debt, and Apple is making an original television show starring Dr. Dre.
Private equity-backed Davis Petroleum Acquisition Corp, an oil and gas company, and publicly traded Yuma Energy Inc agreed to merge in an all-stock transaction. Upon completion of the merger, Davis will become a wholly owned subsidiary of Yuma. Houston-based Davis is backed by Evercore Capital Partners, Red Mountain Capital Partners, and Sankaty Advisors.
OMERS Private Equity, the private equity arm of the Ontario Municipal Employees Retirement System, sold Toronto-based Marketwired LP, a press release distribution service, to Nasdaq Inc. Financial terms were not disclosed. BMO Capital Markets served as financial advisor. Morrison & Foerster and Stikeman Elliott acted as legal counsel.
P&F Industries Inc sold Nationwide Industries Inc, a hardware manufacturer based in Tampa, Florida, to a subsidiary of Argosy Private Equity, a division of Argosy Capital. The purchase price was approximately $22.2 million, subject to working capital adjustment.
First Reserve acquired the Mariah North Wind power project in Texas from Mariah Acquisition, a wind development team backed by Arctas Capital Group. Financial terms were not disclosed.
Farol Asset Management LP, along with other institutional investors, partnered with Liberty Hall Capital Partners LP to complete the acquisition AIM Aerospace, a Renton, Washington-based supplier of parts for the aerospace industry. The transaction was valued at $220 million.
Fenway Capital Partners LLC opened fundraising for its first commingled vehicle, Fenway Capital Partners LLC. The firm is targeting $100 million for the fund with a return of 10 to 17 percent, according to a company statement. Fenway plans to invest in properties in Massachusetts and Florida.
Neuberger Berman closed its new fund, Marquee Brands Partners LP, at $462 million, exceeding its $400 million target. The fund seeks to acquire U.S. and European brands, with strong consumer awareness and opportunities for growth. Marquee Brands has made two acquisitions to date in Bruno Magli®, an Italian footwear brand, and Ben Sherman®, a British fashion brand.
To close out your week, First Read brings you news Zenefits reportedly helped brokers cheat on licensing process, Pandora said to have held talks about selling itself and Uber may owe you 82 cents.