April 12, 2012 |
Wall Street investment firms have not had the most successful initial public offerings in recent years — and Oaktree Capital Group may be no exception. Despite being highly regarded, the Los Angeles distressed-debt manager raised less in its IPO on Wednesday than planned. The company announced that it raised $380 million by selling 8.8 million shares at $43 each. That's at the lower end of its proposed range of $43 to $46 a share, according to an earlier filing with the Securities and Exchange Commission.
July 28, 2010 |
A group of money managers within TCW Group Inc. said Tuesday that they reached a deal with the Los Angeles company to split off their $11.5-billion operation. The agreement, which had been expected, will reestablish Crescent Capital Group as a stand-alone investment firm that provides debt financing to public and private companies. Crescent was co-founded in 1991 by Mark Attanasio and two other former executives of junk bond giant Drexel Burnham Lambert, which filed for bankruptcy protection in 1990.
July 30, 2003 |
FrontPoint Partners, the Greenwich, Conn., investment firm founded by former executives of Tiger Management and Soros Fund Management, is acquiring money manager Ivory Capital Group of Santa Monica. Financial terms of the deal weren't disclosed, but FrontPoint plans to launch two hedge funds -- the firm's sixth and seventh funds -- that will be managed by Ivory Capital executives. Ivory Capital's existing clients are expected to move their money to the new funds.
October 23, 2009 |
Boutique investment banking firm Imperial Capital Group Inc. has filed to go public, hoping to tap investors' improved appetite for new stock issues. In a preliminary prospectus, the Century City firm proposed to raise as much as $150 million in a deal that would allow management to cash out a portion of its ownership stake. But besides that, and paying off a $10-million credit line, Imperial said it hadn't decided what to do with the money it would raise, other than use it for general corporate purposes.
January 27, 2007 |
State prosecutors got a green light Friday to continue their fraud case against the Los Angeles-based company that manages American Funds, the largest U.S. stock and bond mutual fund group. A California Court of Appeal panel in Los Angeles ruled that Atty. Gen. Jerry Brown had the right to pursue the state's 2-year-old suit alleging that the fund company failed to adequately explain to its shareholders how it compensated brokerages that pitched its products. Capital Group Cos.
January 12, 2000 |
The Orange County Zodiac A-League soccer team will be purchased today by Peacock Financial, a venture capital firm in Temecula, according to Rick Brown, who was team president when the Zodiac ceased operations on New Year's Eve. The A-League assumed control of the franchise last week when former owner John Frankhouse defaulted on a $50,000 letter of credit.
April 6, 2006 |
Altra Inc., a Los Angeles-based biofuel company, said it received $50 million in financing from a group of private investors including venture capitalist Vinod Khosla, a founder of Sun Microsystems. Altra, founded in 2004 as Malibu Capital Partners Inc., acquires and develops projects using renewable energy, including ethanol and biodiesel. The investors are Khosla Ventures, Angeleno Group, Kleiner Perkins Caufield & Byers, Omninet Private Equity and Sage Capital Partners.
August 4, 2012 |
NEW YORK — Knight Capital Group lurched into the weekend with executives scrambling to find a buyer or secure emergency funding needed for survival. The battered trading firm was said to be meeting with private equity investors and rival financial firms about putting together a deal. Knight has been left cash-strapped after a software glitch caused $440 million in losses from erroneous high-speed trades this week. The brokerage did get a few boosts. Shares skyrocketed 60% on unconfirmed reports Knight secured a line of credit to stay in business through late Friday.
CALIFORNIA | LOCAL
September 12, 2000 |
Independent Capital Management Inc., based in Santa Ana, has signed a five-year lease extension with BKS Camarillo Partners for a 4,000-square-foot office space at Camarillo Business Center. Bill Kiefer of NAI Capital Commercial represented both sides in the transaction.
September 17, 1992 |
A top corporate finance executive has left Cruttenden & Co. to start his own investment banking firm that will help raise capital for biomedical and small technology companies in Orange County. Michael Danzi, 33, recently formed Danzi Capital Group in Irvine, which will specialize in raising cash for technology companies through private equity or debt offerings. "This area is a real hotbed of activity," Danzi said Wednesday.