FINANCE

L.A. Expansion CBC Priority

FINANCE: Meruelo-backed bank makes northward push

CBC Bancorp, the holding company for the newly private Commercial Bank of California, has big growth plans for Los Angeles County.

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VMG, Hillhouse Form $100M Investment Fund

Partnership will focus on consumer brands; closes Little Freddie investment

VMG Partners, a private equity firm with major offices in Century City and San Francisco, has set up a $100 million fund with Hillhouse Capital,

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Vive Organic Closes $7 Million Series A Round

Venice-based Vive Organic, makers of cold-pressed wellness shots closed a $7 million Series A round led by Powerplant Ventures, a food and beverage investment fund in Manhattan Beach.

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DreamHost Receives $18M Loan from J.P. Morgan

Downtown LA-based DreamHost, a provider of web hosting and site management, announced Oct. 30 it completed an $18 million debt financing credit facility with J.P. Morgan Chase and Co.

Century Park Capital Partners’ Portfolio Company Makes Fourth Acquisition

Covercraft Industries, a portfolio company of El Segundo-based private equity firm Century Park Capital Partners, acquired Carver Industries for an undisclosed amount, the companies recently announced.

Assembled Brands Raises $100M From Oaktree

Los Angeles-based alternative investor Oaktree Capital Management agreed to provide $100 million to Assembled Brands, a New York City-based company financing emerging consumer goods.

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Daz Nabbed in Cloud Services Growth Play

El Segundo firm purchased by Accenture to expand Oracle services

Daz-zling deal for cloud services company.

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Trade Troubles

Trans-Pacific tensions weigh on consumer confidence in L.A. County

L.A.’s consumer sentiment index drops as trade war heats up.

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End of City’s Goldsmith Era

Banking: City National CEO hands reigns to Coffey

City National CEO Russell Goldsmith to step down after 23 years.

Banks Gain, Turn Cautious

Finance: Industry growth tempered by rates, volatility

Local banks are prepping for potential economic turbulence.

Saros Raises $7M for AI Effort in Finance Industry

Saros raised $7.055 million for its West Hollywood-based private firm that specializes in artificial intelligence in the financial industry, according to a filing with federal securities regulators.

MedMen Posts $67M Loss for 2018 Despite Soaring Pot Sales

MedMen Enterprises Inc., a Culver City-based cannabis investment and management firm, on Oct. 25 announced a $67 million loss in 2018 despite reporting a 1,400-percent growth in revenue.

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Angeles Equity Recruits Bench Strength With New Managing Director

Santa Monica-based private equity firm Angeles Equity Partners hired Frank Spelman, a former executive with private equity behemoths Apollo Global Management and Kohlberg Kravis Roberts & Co., as a managing director.

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City National Bank Names Kelly Coffey CEO, Russell Goldsmith to Remain Chairman

Los Angeles-based City National Bank, which was acquired nearly three years ago by Canada’s Royal Bank of Canada, announced that long-time Chief Executive Russell Goldsmith will be succeeded by JPMorgan’s Kelly Coffey but that Goldsmith will continue to serve as chairman.

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Largest Private Companies

Special Report

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