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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

Brentwood Associates Invests in Service Management Group

Sawtelle-based private equity firm Brentwood Associates has made a strategic investment in Kansas City, Mo.-based Service Management Group, a software developer involved in management experiences.

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Green Dot Halts Republic Bank Tax Business Acquisition

Republic Bancorp Inc.’s Republic Bank & Trust has filed a lawsuit against Green Dot Corp. for breaking its agreement to buy the Kentucky bank’s tax refund processing business for $165 million.

Bank of America Plans Expansion in LA Market

2021 Largest Employers Special Report

Bank of America is the largest commercial bank operating in Los Angeles County.

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Clippers Ink $300 Million Sponsorship Deal With Aspiration

The Los Angeles Clippers have agreed to a $300 million, 23-year sponsorship deal with Aspiration Partners Inc., a Marina del Rey-based financial technology company, according to a source familiar with the terms.

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Gores Group SPAC Agrees to IPO With EV-Maker Polestar

A blank check firm backed by Beverly Hills billionaire Alec Gores has agreed to go public with Swedish electric carmaker Polestar, which also counts Hollywood actor Leonardo DiCaprio among its investors.

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Tinder Co-Founder Raises $247.5 Million for VC Fund

Tinder co-founder Justin Mateen has raised $247.5 million for a new venture capital fund he’s launching from his recently acquired Bel Air estate address.

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Nolan Capital Acquires Paramount Water Treatment Contractor Apollo Technologies

Hermosa Beach-based Nolan Capital Inc., the family office of prominent private equity executive Peter Nolan, announced last week it has acquired Paramount-based water treatment services contractor Apollo Technologies Inc. for an undisclosed sum.

Leonard Green-Backed Life Time Files for IPO

Leonard Green could raise up to $93.3 million in the IPO.

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When Scammers Go Phishing, They Hope to Reel In You and Your Business Data

There’s an old expression: “fishing for information.” It means that a person is trying to pry information from you indirectly. In today’s world, that old saying has been updated and modified.

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Competition, Consolidation Heats Up Among Wealth Advisors

It’s turning out to be a battle extraordinaire in Los Angeles as advisers to the super rich are consolidating their industry.

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Levine Leichtman Raises $1.4 Billion Fund

Leichtman Capital Partners closed on an oversubscribed fund with $1.38 billion in capital commitments to help fuel acquisitions of medium-sized businesses.

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Valley National Bancorp Buys Bank Leumi USA

Valley National and Bank Leumi will have a combined $1.1 billion in assets in Los Angeles County.

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US Bancorp to Buy Union Bank in $8 Billion Deal

The deal creates a behemoth banking operation in Los Angeles County.

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Diversis Reaches Milestone $1 Billion Assets Under Management

Diversis Capital Management in now part of an exclusive club of Los Angeles firms with assets under management of more than $1 billion.

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Fika Ventures Raises $195 Million for Tech Investments

Fika Ventures will direct the funds toward seed investments in software, fintech, marketplaces and health care IT.

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