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James Cutchin

Stories by James

Clearlake Backs Deal

PE firm’s Provation acquires medical software platform

Provation Medical Inc., a health care software company backed by Santa Monica-based PE firm Clearlake Capital Group, acquired medical reporting software company MD-Reports.

ManifestSeven Buys SF Business

Cannabis company adds to string of acquisitions

Cannabis logistics company ManifestSeven has acquired San Francisco-based cannabis delivery service Lady Chatterley Health.

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Diamond Eagle Bets on DraftKings, SBTech

Planned three-way merger heads to SEC for review

Century City-based blank check company Diamond Eagle Acquisition Corp. entered into formal SEC review for a three-way merger with DraftKings Inc. and SBTech Ltd.

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Healthy Returns

Arrowhead, Fulgent drove a strong 2019 for L.A. stocks

Last year was a good one for the stock market, and Los Angeles-area companies rode the wave.

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Bank Branches Change It Up

LA sets the pace for new customer experiences

To keep up with changing customer needs, L.A. banks have had to ramp up investment in technology and offer a new kind of customer experience.

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Platinum Equity Closes $10B Megafund

Private equity firm attracts more than 250 investors for latest offering

Beverly Hills-based private equity firm Platinum Equity has raised $10 billion for its latest flagship fund.

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Wedbush Securities Founder Dies at 87

Edward Wedbush launched brokerage in 1955

Edward Wedbush, founder of Wedbush Securities Inc., passed away at his home in Rancho Santa Fe.

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K1 Joins $580 Million Buildium Sale

PE firm was first backer of software developer

Manhattan Beach-based private equity firm K1 Investment Management has sold its stake in property management software company Buildium to RealPage Inc.

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Rubicon Sets Telaria Deal

Merger with NY company will create ad tech giant

Playa Vista-based advertising technology company Rubicon Project Inc. will merge with New York-based Telaria Inc. to create what the companies call the world’s largest independent sell-side advertising platform.

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Venture Capital: Firms will find opportunities exist amid uncertainty

Venture capitalists in Los Angeles see opportunities for the year ahead — regardless of the state of the economy.

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Banking & Finance: Leaning into technology and looking to cut costs

Los Angeles banking and finance in the year ahead will be shaped by technological innovation, cost-cutting and a possible economic slowdown, local experts predict.

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Westlake Financial Strikes Canadian Partnership

Hancock Park-based Westlake Financial Services Inc. and sister company Nowcom Corp. entered into a strategic partnership with Canadian auto finance company Source One Financial Corp.

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ICM Sells $150M Stake

Entertainment: PE firm Crestview buys in

ICM Partners, the Century City-based talent agency, has sold an ownership stake of roughly one-third to private equity firm Crestview Partners for $150 million.

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Analysts Surprised by Exec Departures at Green Dot

CEO Streit and CFO leave fintech company

Green Dot Corp. founder and CEO Steve Streit will step down after 20 years at the helm.

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RBC Nabs $7.5 Billion LA Wealth Management Team

RBC Wealth Management U.S. has snapped up a team of L.A.-based financial advisors that manages approximately $7.5 billion in assets.

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ICM Sells Stake to Private Equity Firm for $150 Million

Century City-based talent agency ICM Partners has sold a significant ownership stake to New York-based Crestview Partners.

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Hub Lands LB Agency

Finance: Insurance broker buys HMBD

Long Beach-based HMBD Insurance Services Inc. has been acquired by Chicago-headquartered insurance giant Hub International Ltd.

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Leonard Green Raises Megafund

Finance: Firm closes $12 billion flagship vehicle to pursue large investments

Los Angeles’ largest private equity firm by assets under management, Leonard Green & Partners, has closed two funds totaling $14.75 billion.

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Big Dealer

Finance: Upfront’s Mark Suster continued to play a leading role among LA’s VCs

Mark Suster, managing partner at Santa Monica-based Upfront Ventures Management Inc., made some big deals in 2019.

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Change Agent

Banking: City National Bank Chief Executive Kelly Coffey is making some big moves

On Feb. 1, Coffey became only the fourth chief executive in the 65-year history of City National Bank.

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Open Season

Finance: Beyond Meat, Revolve Group booked seats on this year’s IPO roller coaster

In an uneven year for initial public offerings, Los Angeles companies mirrored the broader market trend in 2019.

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Colony Capital Pays $185 Million for Stake in DataBank

Colony Capital Inc., one of L.A.’s largest real estate investment firms, will pay $185 million for a 20% interest in data center provider DataBank.

Latino Small Business Lender Snags $8 Million Series A

Camino Financial Inc., a downtown-based fintech online lender focused on the Latino market, has raised $8 million in a Series A funding round.

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Fintech Flashpoint: L.A. Has What It Takes to Become a Financial Technology Hub

L.A. is taking its place in the booming fintech space. Read about some of the L.A. startup and venture capital ecosystem players in the Banking and Finance Quarterly special report.

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City Lifts a Freeze on Cannabis Deals

Finance: After six-month delay, agency resumes processing business licenses

After a six month freeze, Cannabis dealmaking in Los Angeles appears to have experienced a sudden thaw.

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LA Cannabis Deals on Ice

Finance: Regulatory delays chill investments

Cannabis dealmaking in Los Angeles is stuck in a regulatory bottleneck. Approval on cannabis business ownership transfers have been on hold since July, delaying investments.

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Bastion Buys Agency db5

Australian company continues LA push

Highland Park-based consumer insights and strategy agency db5 has been purchased by Australian communications group Bastion Collective.

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Sababa Launches Fund

Looks to connect Israeli startups, US companies

Sababa Ventures, which is looking to bring Israeli funding, innovation and expertise to the American market, is raising $35 million for its debut fund.

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LA-Based Companies Are Riding the Wave of Kickstarter Funding

LA is the top city for projects raising money on the crowdfunding platform

Los Angeles has raised more money through Brooklyn, N.Y.-based Kickstarter than any city in the world.

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Broker-Dealer Western International to Be Acquired

Western International Securities Inc., an independent broker-dealer based in Pasadena, will be acquired by New York-based Atria Wealth Solutions Inc.

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J2 Planning $500M Offer

Internet services firm will use funds on credit balance

Hollywood-based internet services firm J2 Global Inc. intends to sell $500 million in convertible senior notes.

LGBTQ-Focused Index Launches

WeHo firm tracks top 100 companies for investors

LGBTQ Loyalty Holdings launches an index tracking companies committed to advancing equality.

Paramount Posts Profit Turnaround

Paramount Pictures reported its first fiscal full-year profit since 2015.

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Colony Capital Pivots to Digital Real Estate Investments

Downtown-headquartered real estate investment firm Colony Capital Inc. reported net losses of $555 million, or $1.16 per share, in the third quarter and is shifting its strategy.

Green Dot Reports Third-Quarter Loss

Financial technology company Green Dot Corp. reported a third-quarter loss of $0.5 million, down from a profit of $4.6 million a year earlier.

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Skyview Capital Picks Up Passport Foods

Skyview Capital rebranded ethnic foods producer-distributor Passport Global Foods as Passport Foods after acquiring select assets from the company for around $25 million.

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OpenGate Closes $585 Million Fund, Acquires CoreMedia

OpenGate Capital, a private equity firm based in Century City, has closed its latest fund at approximately $585 million and acquired digital firm CoreMedia AG.

Regent Acquires Luxury Brand Escada

Beverly Hills-based private equity firm Regent LP has acquired German luxury womenswear brand Escada SE.

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Ares Misses Earnings Expectations

Century City-based asset manager Ares Management Corp. missed expectations when it reported third-quarter earnings on Oct. 31.

B. Riley Nabs Retail Brands

Firm pays $117 million for English Laundry, others

Firm pays $117 million for English Laundry, others

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Grind Minds the Gap for Underbanked

BANKING: Startup courts inner-city communities

Grind Banking founder Brinson Silver looks to focus on underserved communities.

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AECOM-Canyon Partners Closes $500 Million Fund

Real Estate: Joint venture invests in Culver City

Joint venture between AECOM and Canyon Partners closes $500 million fund

Creo Montminy Leads Esports, Food Deals

Banker manages sales of NGE and Worldwide Produce

Banker manages sales of NGE and Worldwide Produce

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Scratchpay Raises $65 Million in Series B Round

Scratch Financial Inc. raised $65 million in debt and equity in its latest funding round.

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Houlihan Lokey Reports Slight Drop for Quarter

Houlihan Lokey’s earnings were down slightly for the fiscal second quarter despite a relatively strong overall performance for the first six months of 2019.

Uribe Departs California Bank & Trust

BANKING: Exec will focus on consulting, philanthropy

California Bank & Trust executive Betty Uribe steps down.

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AECOM-Canyon Partners Closes $500 Million Fund

AECOM-Canyon Partners, a joint venture between engineering firm AECOM and hedge fund Canyon Partners LLC, announced the close of its $500 million fund.

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City National Expands Eastward

Downtown-headquartered City National Bank announced the opening of offices in N.Y., Florida

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MediaLab to Acquire Kik Messenger

MediaLab has acquired Kik Messenger.

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Brentwood Associates to Sell Marshall Retail Group

Brentwood Associates will sell Marshall Retail Group for $400 million to British retailer WH Smith.

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