Open-end, closed-end and separately managed accounts (SMAs) saw traction in June as alternative asset managers collected over $65 billion globally, according to the latest AW Research Manager Scorecard. Private equity firms continue to be in the pole position; however, credit funds are closing in as each asset class raised $31 billion and $26 billion, respectively. […]

PE asset-raising narrowly outpaces credit in June

PE firm Arctos Partners agreed to buy a majority stake in €31 billion ($34 billion) alternatives firm Hayfin Capital Management. Financial terms were not disclosed, but the stake had belonged to the British Columbia Investment Management Corporation (BCI). BCI initially bought the stake in Hayfin in 2017. Officials said that since then the firm has quadrupled its AUM, added senior talent and diversified and expanded its strategies. BCI is expected to remain a strategic limited partner in certain Hayfin funds following the deal’s close.

Arctos buys majority stake in Hayfin Capital Management

Entrepreneur

Alicia Miller, founder and managing director of Emergent Growth Advisors, shares how smart franchise entrepreneurs can find the right capital partners to reach their goals and how franchisees can factor private equity into their own growth plans.

How Franchise Owners Are Unlocking Big Money in the Era of Private Equity

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), announced on July 26 that it has closed a $60 million Series C equity investment from Zurich Insurance Group, a global multiline insurer. “This investment from Zurich is the strongest endorsement of Cowbell’s vision and capabilities yet and...

Cowbell Secures $60M Series C Funding From Zurich

The musician and mogul's firm Marcy Venture Partners may be undergoing a merger with Pendulum Holdings, a firm co-founded by Barack Obama's former financial advisor. Jay-z is reportedly making major waves in the venture capital space. The music legend and mogul’s venture capital firm, Marcy Venture Partner may be laying...

Jay-Z's Venture Capital Firm Is Reportedly Laying Plans To Deploy A Merger That Could Be Valued At $1B

London-based Flo Health, a fertility-focused period-tracking app, on Tuesday said it has raised a $200 million Series C from General Atlantic. The funding values the startup at more than $1 billion post-money, which, per the company, makes it the first “purely digital” women’s health app to become a unicorn. That distinction is challenging to qualify, since it seems that there are no clear “purely digital” unicorns in the women’s health category for comparison. (Maven, which describes itself as a health clinic and benefits platform, was last valued at $1.33 billion in 2022.)

Fertility tracking app Flo Health raises $200M at a $1B+ valuation

Bakersfield, CA

Kern County, CA

The Kern County Employees’ Retirement Association (KCERA) added two strategies to its expanding private market portfolio last month, board meeting records show. The $70 million in fresh commitments for the Bakersfield, Calif.-based fund come as its private credit program sits just below its upper range of 8% in its asset mix, but at the end […]

KCERA adds PE, credit managers

Port Richey, FL

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Akeena

Florida’s buffet lovers are in for a shocker as the popular Royal Sushi Buffet & Hibachi in Port Richey has been temporarily shut down following a state inspection. This isn’t the first time the eatery has faced such trouble, but the recent closure has sparked quite a buzz among its loyal patrons and food enthusiasts alike.

Live roaches, flying objects in the kitchen and soiled shelves- Buffet closed again in Florida

In its second annual survey of GPs and LPs, law firm Barnes & Thornburg noted that succession planning concerns are rising among LPs, who are also concerned about returns and liquidity. The rising expenses of running a fund may be a key reason why GPs are not meeting LPs' expectations for succession planning, officials said. […]

Barnes & Thornburg: Fund expenses on the rise, affecting succession planning

Maine State

In early July, the HIPAA Journal reported on a data breach at the Draper, UT-based financial technology and business services company, HealthEquity. HealthEquity had disclosed in an 8-K filing with the Securities and Exchange Commission (SEC) that it had identified suspicious activity in the device of a business partner. The initial findings of the investigation indicated unauthorized access to the device and member information. HealthEquity has recently notified the Maine Attorney General about the incident and has confirmed that the personal identifying information (PII) of 4,300,000 individuals was exposed and potentially stolen, including the personal information of 13,480 Maine residents.

HealthEquity Confirms Breach Involved PII of 4.2 Million Individuals

HDI Global has received a regulatory licence from the Dubai Financial Services Authority (DFSA). The licence will allow the commercial and specialty lines insurer to open an office in Dubai. This office will be led by its new managing director, Willem van Wyk, and aims to bring the firm closer to its clients in the region.

HDI Global gains regulatory licence from DIFC

North Carolina State

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Town Talks

In North Carolina, the divorce process can be challenging, particularly due to the mandatory one-year separation requirement. This law mandates that couples must live separately for at least a year before filing for divorce, a rule that can be frustrating for many.

You might be granted a divorce in North Carolina if your spouse is ‘incurably insane.’ Here’s how

Austin, TX

The Next-Generation Microelectronics Manufacturing program, known as NGMM, aims to unlock accessible prototyping for the chips of tomorrow with a new agreement to establish the first-ever national center for advancing U.S.-based microelectronics manufacturing. DARPA will work with the University of Texas at Austin and its existing Texas Institute for Electronics...

DARPA Establishing National Center for Advancing U.S.-Based Microelectronics Manufacturing

IMA Financial Group’s Cornerstone Risk Solutions has brought in Hendrik “Hennie” Terblanche to serve as underwriting services director. With more than two decades of leadership experience in the property and casualty insurance sector, Terblanche has a proven track record of building and maintaining high-caliber commercial insurance teams for multi-line, multinational products.

AIG alum joins Cornerstone Risk Solutions

Arizona State

"When we began developing Papago Storage in 2016, the Arizona storage market was in its infancy." A solar battery and storage company secured $513 million in funding for a battery storage project in Arizona, according to an article published in Electrek. The new project will finance the construction of 1,200-megawatt-hour...

Arizona's largest battery storage project receives over $500 million in financing: 'One of the fastest-growing markets'

Afrotech

This Black women-founded company has accepted an acquisition deal four years after its founding. Clutch, a digital marketing marketplace co-founded by Madison Long and Simone May that connects creators to businesses looking for content creation, was acquired by Plaiced, a self-serve platform for advertisers, TechCrunch reports. “The creator economy is growing rapidly, we knew to… Continue reading Clutch, A Black Women-Founded Digital Marketing Startup That’s Backed By Precursor Ventures, Gets Acquired

Clutch, A Black Women-Founded Digital Marketing Startup That’s Backed By Precursor Ventures, Gets Acquired

NBC News

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Family offices are increasingly offering lucrative shares of equity and deal profits to...

Family offices are giving top staff equity, profit shares in battle for talent

Fortune

Looking ahead, managers need to be prepped and lead their employees with compassion.

The CHRO of Accenture is leaving after 36 years. These are the 3 ‘massive shifts’ she’s seen in her time in HR

Florida State

The $197 billion Florida State Board of Administration ushered in about $2.6 billion in multiple funds/investments across a new credit asset class, as well as private equity, real estate and strategic investments, in the second quarter. The newly established active credit/private credit portfolio saw $900 million commitments. Private credit previously was within strategic investments and […]

Florida SBA builds out credit portfolio, other alts exposures in Q2

NewsBreak

Amulet Capital Partners closes third niche healthcare fund at $1.2bn

Amulet Capital Partners, a middle-market private equity firm specializing in healthcare investments, held the final close of its third fund, raising approximately $1.2 billion in capital...

Amulet Capital Partners closes third niche healthcare fund at $1.2bn

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