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Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Banking & Finance

Special Report

Banking & Finance Special Report

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Asset Outflows for LA Funds

October data shows dip for money managers

Market volatility giving some the jitters.

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NuOrder Closes on $15M Investment

Company plans to to grow B2B platform between businesses

Los Angeles-based NuOrder, a B2B wholesale e-commerce platform, closed on a $15 million Series C financing round, led by Radnor, Pa.-based venture capital firm NewSpring and joined by existing investors Upfront Ventures of Santa Monica and Argentum of New York City.

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L.A.-Based Platinum Equity’s Vertiv Buys MEMS Power Maintenance Business

Los Angeles private equity firm Platinum Equity announced that its portfolio company Vertiv completed the purchase of the maintenance business of MEMS Power Generation, a privately-owned company headquartered in the United Kingdom that specializes in temporary power solutions.

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Landec Acquires Guacamole Maker Yucatan Foods for $80M

Los Angeles-based guacamole company Yucatan Foods was acquired by fresh food firm Landec Corp for $80 million in a move that bolsters the California firm’s natural foods market position.

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The Madera Group Raises $20.85M From Breakwater to Fund Restaurant Expansion

West Hollywood-based hospitality firm the Madera Group completed a round of equity funding with a $20.85 million capital raise that will help expand three of its healthy-leaning, Mexican-themed restaurant chains throughout the United States.

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Sole Source Capital Buys Individual FoodService, Plans Partnership With South Gate Food Distributor

Santa Monica private equity firm Sole Source Capital has acquired Individual FoodService, a Bell, Calif.-based food distributor.

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Ares Management Converts to Corporation From Limited Partnership

Los Angeles–based global alternative asset manager Ares Management Corp. announced completion of plans to convert to a corporation as part of a move to increase trading liquidity in its stock and broaden stock ownership among institutional and retail investors.

Planting Their Flag: Fifth Wall Ventures Connects Legacy Real Estate Firms With Tech Startups

Innovation Special Report

Fifth Wall Ventures co-founder Brendan Wallace is an advocate for new technologies and not just in his professional life as the managing partner of a venture capital firm focused on real estate technology.

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Archytas Ventures’ Xtraction Services Raises $3M in Oversubscribed Round

Archytas Ventures, a Century City-based holding company that specializes in the cannabis industry, has led a $3 million oversubscribed round for one of its equipment companies.

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B. Riley's $22.9M Deal for National Holdings Gives Company a Majority Stake

B. Riley Financial Inc. has agreed to a $22.9 million deal that will give it a majority stake in New York financial services firm National Holdings Corp., the Woodland Hills company announced Monday.

Boxwood Trades First Day on Nasdaq, Raises $200M in IPO

Santa Monica-based Boxwood Merger Corp, led by the former COO of Los Angeles-based engineering services giant Aecom, raised roughly $200 million on its first day of trading Friday.

L.A. County Unemployment Rate Held Steady at 4.6 Percent in October Despite Job Gains

L.A. County’s unemployment rate held steady at 4.6 percent in October even as the county added more than 43,000 jobs to reach a record high employment level, according to state figures released Nov. 16.

Santa Monica’s Balmoral Funds Invests in Modular Building Firm

Santa Monica private equity firm Balmoral Funds and senior managers of Vesta Modular, a provider of rentable modular buildings, purchased the ownership interests of the Birmingham, Mich.-based company’s initial investors.

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Greycroft Partners Leads $20 Million Seed Round for Emerge

Bi-coastal venture capital firm Greycroft Partners, which has offices in the downtown Los Angeles Arts District, announced Nov. 15 it led a $20 million seed round for shipping logistics management firm Emerge, based in Scottsdale, Ariz.

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