Energy Investment: Oaktree Capital said it would acquire Highstar Capital, an investor in physical infrastructure for the energy industry. With the deal, expected to close in the third quarter, Oaktree will become manager of the $2.3 billion Highstar Fund IV. Terms were not disclosed.
Industrial Deal: A private investor has purchased the 50,000-square-foot flex/office property at 16941 Keegan Ave. for $7.3 million. The building sits on a three-acre site and is fully leased to Timec Co. Built in 1972 and renovated three times, it was sold by Microtek Inc. It last traded hands in 2001 for $4.2 million, according to county records.
Big Debt: Cloud services company J2 Global Inc. priced an offering of $350 million in convertible senior notes, due in 2029. The company said it would use the proceeds from the offering for general corporate purposes, including possible acquisitions. The debt is convertible into cash or J2 Global common stock and carries an annual interest rate of 3.25 percent.
SAN FERNANDO VALLEY
Industrial Relocation: Ricon Corp., a supplier of technology products for transit companies, has signed a deal to move its headquarters to 1135 Aviation Place in the San Fernando Business Center. The company, which has already moved some of its manufacturing operations to Mexico, will relocate from its Panorama City base.
Flying High: Air Lease Corp. announced a pair of transactions with overseas airlines. The company said it had delivered the first of two Boeing 777-300ER Aircraft being leased to Air New Zealand, with delivery of the second jet expected in the fall. It has also agreed to lease two Boeing 777-300ER aircraft to EVA Air, a Taiwanese airline. The new leases follow the company’s late May deal to lease a pair of Boeing 737-800 aircraft to Sri Lanka airline Mihin Lanka.
Cloud Investment: Celgene Corp. has invested $25 million in NantHealth, a cloud-based oncology venture formed by Dr. Patrick Soon-Shiong. The company seeks to use big data to aid in cancer treatment through a database of thousands of trials and genomic studies. Celgene, which purchased Soon-Shiong’s Abraxis BioScience for $2.9 billion in 2010, invested $75 million in his NantBioScience earlier this year.
West Los Angeles
Merging Platforms: Online marketplace Shopzilla Inc. has beefed up its newly acquired media by buying platform Connexity, folding its consumer insights divisions Aisle A and Bizrate Insights under the brand’s umbrella. Connexity is a Ventura automated media buying firm.
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