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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

L.A. County Adds 34,000 Jobs In March As Unemployment Rate Drops

L.A. County’s economic recovery continued in March as employers added 34,000 jobs and the unemployment rate dipped again.

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Farmers & Merchants Bank Sees Profit Rise 41%

Long Beach-based Farmers & Merchants Bank said profit grew roughly 41% in the first quarter versus the same period a year earlier.

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Eight Things an Accounting Adviser May Do for You

Custom Content | Services to help you navigate 21st-century accounting.

If you think accounting is an exact science, think again. Issues are nuanced. Multiple views exist. Conclusions depend on your unique circumstances. Accounting advisory services may foster open dialogue, thorough analysis, and full understanding to determine an appropriate conclusion.

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OpenGate Sells French Skylights Division

Century City-based private equity firm OpenGate Capital has agreed to sell a division of portfolio company SMAC, a global manufacturer of waterproofing and building envelopes.

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Cleared to Open, Many Indoor Venues Take Slow Approach

Indoor entertainment and sports venues in Los Angeles County may have a green light from the state to reopen to the public on April 15, but it could be a while before many building owners and operators welcome fans back.

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OpenGate Buys European Manufacturing Software Firm

Century City-based private equity firm OpenGate Capital has purchased Kongsberg Precision Cutting Systems from Esko-Graphics.

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Software Provider 3PL Central Raises $45 Million, Makes Acquisition

El Segundo-based 3PL Central, a warehouse management software provider that has seen skyrocketing sales during the Covid-19 pandemic, last week raised $45 million in financing.

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Sole Source Capital Acquires 2 More Data Capture Companies

Santa Monica-based private equity firm Sole Source Capital agreed to purchase two manufacturers that specialize in automatic identification, data capture and factory automation.

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Ares Raises $1.7 Billion for Distressed Real Estate Investments

Ares Management raised more than $1.7 billion to target distressed real estate opportunities.

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Eisner-Led Group to Take Topps Public in $1.3 Billion Deal

Former Disney CEO Michael Eisner plans to take trading card company Topps Co. public through a SPAC.

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LA’s Jobs Recovery Is Underway

After three months of job losses during a devastating surge in Covid-19 cases, Los Angeles County’s economy finally perked up in February.

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Ares Pays $1.1 Billion for BrightSphere’s Landmark Partners Unit

Ares Management Corp., a Century City-based alternative asset manager, agreed to buy Landmark Partners from BrightSphere Investment Group Inc. in a $1.1 billion deal, the firms announced March 31.

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VC Firms Poured $9 Billion Into LA Companies in 2020

Amid one of the most tumultuous years in recent economic history, Los Angeles companies managed to land $9 billion in venture capital funding in 2020.

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As SPAC Frenzy Grows, LA’s Private Equity Firms Scramble to Keep Up

Private equity shops, alternative asset managers and other investment firms seem to be dividing into a world of Davids and Goliaths when it comes to investing in SPACs, or special purpose acquisition companies.

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Cloudbreak’s Jamey Edwards Gives an Inside Look at SPAC Process

Private equity ties have paid off for Jamey Edwards, chief executive of Cloudbreak Health.

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