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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Group Project

Capital Group shakeup part of private investment company’s unorthodox structure

Capital Group Cos. reshuffled scores of its portfolio managers and analysts assigned to its three major equities business units this summer as the downtown–based investment giant seized upon an accelerating inflow of cash from investors shifting to its safe-haven mutual funds, according to an analyst with fund tracker Morningstar Inc. who was familiar with the shakeup.

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