FINANCE

Oaktree Capital Closes $4.7 Billion Real Estate Fund

Downtown-based Oaktree Capital Management has closed a fund and related vehicles with total capital commitments of roughly $4.7 billion.

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Unemployment Rate Drops to 11.5% in LA County

Los Angeles County’s unemployment rate dropped to 11.5% in February as the county added nearly 48,000 jobs.

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Gores Guggenheim Goes Public With $750 Million IPO

Gores Guggenheim Inc., a special purpose acquisition company formed by affiliates of The Gores Group and Guggenheim Capital, has priced its initial public offering at $750 million.

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Banc of California to Acquire Pacific Mercantile

Banc of California Inc. said on March 22 that it will buy Costa Mesa-based Pacific Mercantile Bancorp in an all-stock transaction valued at $235 million.

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LA County Unemployment Tops 12% in January

Even as Los Angeles County’s employment picture darkened after revised state data showed job losses for 2020 were substantially bigger than previously reported.

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As Covid Restrictions Ease in LA, Most Businesses Take Things Slow

Restaurants in Los Angeles County may have the green light to reopen indoor dining rooms at limited capacity.

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Sunbit Brings Buy Now, Pay Later Approach to Necessities

Arad Levertov came up with the idea for Sunbit Inc. when he was shopping at a Costco in Chicago in 2010.

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VC Firm Backstage Capital Uses Crowdfunding to Help Underrepresented Startups

Arlan Hamilton founded a venture capital firm in 2015 aimed at bringing greater diversity to the startup world.

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Special Report: Banking & Finance Quarterly — Q4 2020 Data

Interesting times drive innovative ideas for some L.A. financial firms. Get a look at their fresh thinking, as well as updated data for L.A. County banks.

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L.A. County Unemployment Tops 12% in January

L.A. County’s unemployment rate for both December and January at 12.6%, with December’s rate being significantly higher than the 11% first reported six weeks ago.

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Eldridge Brings Broad Experience to Incubator, VC Fund

Taj Eldridge has had a wild ride, from entry-level positions to head of investments at the Los Angeles Cleantech Incubator and managing partner of a mission-driven venture fund.

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Abacus Buys Bay Area-Based Wealth Manager

Santa Monica-based wealth manager Abacus Wealth Partners has acquired San Francisco-based financial planner Robasciotti & Philipson.

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Small Business Loans: 8 Programs for LA Businesses

For local businesses, there are already plenty of pandemic loans and grants available for the taking, and there’s more on the way.

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Smash Ventures Launches Late-Stage Fund

A new firm has quietly made its way onto Los Angeles’ venture capital scene.

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Sloan Closes $1.7 Billion SPAC

Veteran investor Harry Sloan has closed a $1.7 billion special purpose acquisition company, or SPAC.

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