NEW YORK (Reuters) – Hedge funds are losing money but that doesn't mean the $1.8 trillion industry is losing clients — yet. Pension funds and endowments, whose big bets on hedge funds helped double industry assets in the last five years, are sticking with loosely regulated hedge funds for now, even as returns sag. But […]
Wall Street Systems, a developer of financial trading and treasury engines, has agreed to acquire the assets of Aleri Global Banking, the wholesale banking division of Aleri Inc. No financial terms were disclosed. Wall Street Systems is a portfolio company of Warburg Pincus, while Aleri Inc. has raised over $30 million in VC funding […]
Panorama Capital, the former venture capital team of JPMorgan Partners, has closed its first independent fund with $240 million in capital commitments. The firm spun out of JP Morgan in 2005, and had initially been seeking to raise at least $400 million. PRESS RELEASE Panorama Capital LLC today announced it has closed Panorama Capital […]
Francisco Partners has agreed to sell Metrologic Holdings Corp. to Honeywell International for $720 million in cash. Francisco had led a $346 million take-private buyout of Metrologic in December 2006, alongside hedge fund Elliott Associates and Metrologic chairman and then-interim CEO Harry Knowles. Metrologic makes data capture and collection hardware and software. PRESS RELEASE […]
Daniel Galante has joined Alvarez & Marsal Transaction Advisory Group as a managing director and national practice leader. He previously was a senior managing director of FTI Consulting. PRESS RELEASE Alvarez & Marsal Transaction Advisory Group, which works with private equity firms, hedge funds and corporate acquirers and is an affiliate of the leading […]
MMC Ventures has sold its stake in UK-based MoneyExpert Ltd. to company chairman Nigel Warr, Eurocall and serial entrepreneur Gregory Pennington. The deal was valued at around Gbp7.2 million. MoneyExpert is an online financial services aggregator, and raised Gbp25 million last month from Technology Crossover Ventures. PRESS RELEASE MMC has sold its stake in […]
TechnoSpin Inc., a New York-based developer of small wind turbines for residential and commercial use, has raised $8 million in Series A funding led by 21Ventures. PRESS RELEASE TechnoSpin Inc., developer and manufacturer of next-generation small wind turbines for residential and commercial use, announced today a Series A financing round of $8 million. The round […]
William “Bing” Gordon has agreed to join Kleiner Perkins Caufield & Byers as a partner, effective this June. He has spent the past decade as chief creative officer for Electronic Arts, which he helped co-found in 1982. PRESS RELEASE Kleiner Perkins Caufield & Byers, the Silicon Valley venture capital firm, today announced that William […]
Mark Hootnick has joined Broadpoint Capital as a managing director in the firm’s recapitalization and restructuring group. He previously was a managing director with Imperial Capital. PRESS RELEASE Broadpoint Capital, Inc., the broker-dealer subsidiary of Broadpoint Securities Group, Inc. (BPSG) today announced that Mark Hootnick joined the firm as a Managing Director in their […]
Intacct Corp., a San Jose, Calif.-based provider of on-demand financial applications, has raised $15 million in new funding. Bessemer Venture Partners led the round, and was joined by return backers Emergence Capital, Sigma Partners and Sutter Hill Ventures. The company had previously raised $60 million, including from JK&B Capital and Hummer Winblad Venture Partners. […]