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NAIC Congratulates Members Ranked Among the World’s Largest Private Equity Firms
WASHINGTON, MAY 18, 2018 – The National Association of Investment Companies (NAIC) congratulates its 10 member firms named to the PEI 300, Private Equity International’s list of the world’s biggest private equity firms. The list, which is based on how much capital raised over the last five years, represents a collective fundraising total of $1.5 trillion. NAIC member firms named to the PEI 300 include: Clearlake Capital Group, L.P. HarbourVest Partners, LLC JP Morgan Asset Management Neuberger Berman One Rock Capital Partners, LLC Palladium Equity Partners, LLC Siris Capital Group, LLC Sycamore Partners Vista Equity Partners Vistria Group, LP “The NAIC is proud to see such growth among our members and applauds them on their fundraising successes,” says Robert L. Greene, President & CEO, “Having so many firms ranked among the world’s largest underscores the talent and capabilities within private equity’s diverse communities.” About the NAIC: Based in Washington, DC,
Wicks Group Portfolio Company Acquires DatStat
Seattle, WA, April 4, 2018 – SCI Solutions (SCI), a leading patient access and care coordination software company, today announced it has acquired DatStat, a leading provider of patient engagement and digital health tools. The combination of SCI’s market-leading patient scheduling, referral management and revenue cycle software with DatStat’s digital self-service tools for pre-visit preparation, secure messaging, visit summaries and care plans, creates a complete patient access and engagement solution for patients to conveniently connect with their care teams and manage their health. “In our consumer-driven health model, provider organizations need to fundamentally reimagine ways to deliver online service and convenience expected by consumers who have grown accustomed to digital engagement throughout their daily lives,” said Joel French, CEO of SCI Solutions. “By partnering with DatStat, SCI will eliminate the divide between today’s complex health enterprises and individuals wanting to be personally engaged, understood and involved in their care. These
Plantronics to Acquire Siris Capital Portfolio Company in $2B Deal
SANTA CRUZ, Calif., March 28, 2018 (GLOBE NEWSWIRE) — Plantronics (NYSE: PLT) and Polycom today announced that they have entered into a definitive agreement under which Plantronics will acquire Polycom in a cash and stock transaction valued at $2.0 billion enterprise value. The transaction has been unanimously approved by the boards of directors of both companies, is subject to regulatory approvals and other customary closing conditions, and is expected to close by the end of the third calendar quarter of 2018. Compelling Strategic Rationale With the acquisition of Polycom, Plantronics will become the partner of choice for the communications and collaboration ecosystem. The combination: Accelerates Plantronics Strategy. Polycom brings a global leadership position in voice and video collaboration, accelerating Plantronics vision of delivering new communications and collaboration experiences. Broadens Portfolio. With the addition of Polycom, Plantronics will have the broadest portfolio of complementary products and services across the global communications
Neuberger Berman Launches Specialty Finance Group
New York, NY, May 1, 2018 – Neuberger Berman, a private, independent, employee-owned investment manager, announced its entry into the broader specialty finance industry with the formation of Neuberger Berman Specialty Finance group (“NBSF”). The firm manages $299 billion in assets, of which $60 billion is alternative investments for institutions and individuals. NBSF seeks to identify assets within the consumer, small business, and bridge loan segments in order to build short duration, income producing credit portfolios for its clients. The group will partner with high-quality originators who have strong underwriting and servicing capabilities. Utilizing the latest financial technology, NBSF will strive to create diversified portfolios with robust risk protection. The group will leverage strong internal research and data to best position portfolios for the current economic climate. Peter Sterling has joined the firm to serve as the Head of Neuberger Berman Specialty Finance. NBSF efforts will be enhanced by collaboration
GenNx360 Acquires GenServe Inc.
GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm which invests in middle market business services and industrial companies is pleased to announce its acquisition of GenServe Inc. (“GenServe” or the “Company”), effective April 12, 2018. GenServe is the largest independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving primarily commercial customers in various industries. The Company’s complete and extensive service platform positions it as a one-stop-shop for all generator needs. Established in 1990, the Company has more than 80 employees, including the largest team of Electrical Generating Systems Association (EGSA) certified technicians in the Northeast. GenServe is headquartered in Plainview, NY with two additional branch offices in Fairfield, NJ and Pennsauken, NJ. “We are excited to begin this partnership with GenServe. Its talented employees and leadership have built a great company with a stellar reputation for safety, quality, and
Clearlake Capital Group Portfolio Company Acquires Programming Research Ltd.
Minneapolis, Minn. – May 2, 2018 – Perforce Software (“Perforce”), a global provider of solutions to enterprise teams requiring productivity, visibility and scale during all phases of the technology development lifecycle, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced the acquisition of UK-based Programming Research Ltd. (“PRQA”), a leading provider of sophisticated, enterprise-grade static code analysis. The acquisition expands the Perforce portfolio of solutions by adding PRQA’s family of Static Code Analyzers that assess software reliability, security and compliance while reducing development time. Growth through acquisition is an integral part of Perforce’s business strategy to develop a comprehensive portfolio of leading enterprise scale software solutions for technology developers and development operations (“DevOps”) teams. The acquisition of PRQA represents Perforce’s fourth successful acquisition in the past two years, and its first under Clearlake’s new ownership, which was announced in early January 2018. “With this latest acquisition
GenNx360 Capital Acquires Housing Solutions Provider
GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm which invests in middle market business services and industrial companies announced today its acquisition of CRS Temporary Housing (“CRS” or “Company”), a leading asset-light provider of professionalized relocation and temporary housing solutions. Terms of the transaction were not disclosed. Founded nearly 30 years ago and headquartered in Phoenix, Arizona, CRS employs over 100 highly trained professionals. The Company services the property and casualty insurance industry providing relocation and temporary housing solutions to dislocated policyholders. This dislocation typically results from fire or water damage with CRS assisting the policyholder from the time of initial loss through completion of repair and subsequent move-in. CRS provides a service that is deemed critical to the carrier as well as to the homeowner. Its customer base is diverse and includes many of the leading insurance carriers. Monty Yort, the Managing Partner at GenNx360 who led
Pharos Capital Launches Oncology Practice, Clinical Research Management Platform
DALLAS & NASHVILLE, Tenn.—(BUSINESS WIRE)—Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced it has acquired Horizon Oncology (“Horizon”), headquartered in Lafayette, Indiana. The acquisition marks the launch of Verdi Oncology, Inc. (“Verdi”), an oncology practice and clinical research management company. Verdi will focus on aggregating high-quality oncology practices that participate or qualify to participate in the Oncology Care Model program, a value-based care payment program backed by CMS, and similar value-based care payment programs offered by commercial payors. Pharos is partnering with Wes Chapman, a seasoned executive in the oncology industry, who will serve as Chief Executive Officer of Verdi. Founded in 2001 by Dr. Wael A. Harb, Horizon has four providers offering oncology and hematology services. Additionally, the practice offers cutting edge clinical trials opportunities for patients throughout the Midwest. Terms of the transaction were not disclosed. “We are thrilled to launch
NAIC to Present Fiduciary Case for Diversity Among Fund Managers at Private Equity Summit
LOS ANGELES, APRIL 24, 2018 – The National Association of Investment Companies (NAIC), the industry association for diverse-owned and emerging investment managers, will present the fiduciary case for capital allocators to engage with diverse investment managers during Institutional Investor’s 2018 Private Equity Summit – West Coast in Los Angeles today. Robert L. Greene, President & CEO of the NAIC, will serve as a panelist for The Power of Diversity – A Competitive Advantage, a discussion that will examine the impact of diversity from a quantitative standpoint and explore how this issue might be incorporated into the investment opportunity sets identified by allocators, potentially changing the way institutions invest. For more than four decades, the NAIC has championed the cause for greater diversity among public, private pension plan and endowment managers. While a significant portion of these institutional investment funds are contributed to by persons of color, they are rarely managed
NAIC Issues Statement on GAO Report on Disparities in Asset Management
WASHINGTON, SEPTEMBER 25, 2017 – Robert L. Greene, President & CEO of the National Association of Investment Companies (NAIC), today commended Congresswoman Maxine Waters (D-CA), Senator Cory Booker (D-NJ), and Congressman Gregory Meeks (D-NY), for their efforts towards removing barriers limiting diverse investment managers from participating in overseeing federal retirement plans. He also stressed the value of greater investment by federal and other entities with these high-performing managers. “The recent report published by the General Accountability Office (GAO), affirms the message NAIC has been espousing for many years, that the under-utilization of diverse managers, at a time when they are the highest performing segment of the US Asset Managers is not only egregious but defies business logic,” says Greene. “We are calling upon all elected officials and fiduciaries to examine the practices and approaches that allow this negligent behavior to exist.” Waters, Booker and Meeks jointly released a statement on