When Chicago-based The Banc Funds closed its eighth fund back in 2008, the bank-focused private equity firm quickly found plenty of deal flow in banks that collapsed during the crisis that followed the bankruptcy of Lehman Brothers Holdings.

Eight years later and armed with $536 million for its ninth fund, the firm is taking a different approach, according to Charles Moore, who founded the firm back in 1986 Read More »

Venture firms aren’t the only ones capitalizing on the growing intersection of finance and technology these days.

Private equity firm Serent Capital has retained boutique investment bank Financial Technology Partners to explore a sale of mortgage technology company Optimal Blue, according to people familiar with the matter. Read More »

Tritrium Partners, a growth firm founded by two former senior executives from Austin Ventures, has formed a new platform focused on fintech, partnering with former Worldpay executive Max Narro. Also, Banc Funds has closed its ninth fund with $536 million and Norwest Venture Partners made a strategic investment in Medgate Inc., a software-a-a-service provider of environmental, health, safety and risk management systems. Read More »

Bunker Hill Capital has agreed to sell steakhouse chain Smith and Wollensky to Irish investment firm Danu Partners, nine years after the Boston-based private equity firm acquired the company.

Also, FTV Capital said it has invested $30 million in Edgewater Markets, an aggregator and distributor of foreign exchange services, while Trivest Partners has gotten early regulatory clearance to sell its stake in Take 5 Oil Change Inc. to fellow private equity firm Roark Capital.

Finally, Advent International scores big with a $13 billion final close of its eighth global private equity fund. Read More »

In this morning’s media roundup, Active Network LLC, a Vista Equity Partners-backed maker of planning software primarily for sports, outdoor and community events, sold its faith division, which includes software for church administrative functions called Fellowship One, to Ministry Brands, a company backed by Providence Equity Partners that provides software to faith-based organizations.

Also, AlpInvest Partners bought out investors of a 2008 fund run by Lee Equity Partners, and Blackstone Group-backed SeaWorld Entertainment Inc. said it would stop breeding killer whales and cease its theatrical shows involving them. Read More »

In this morning’s media roundup, Private equity funds performed poorly for the third quarter of 2015, but they weren’t the worst performers, reports Amy Or.

Also, Sixth Swedish National Pension Fund-backed Gyros AB and Ampersand Capital Partners-backed Protein Technologies Inc. merged to form a provider of sample prep, synthesis and bioanalytical tools for the discovery, development and manufacturing of biotherapeutics. And ExactCare Pharmacy LLC, a pharmacy serving patients with multiple medications,  received an investment from Nautic Partners. Read More »

Vista Equity Partners has set a $10 billion hard cap for its sixth flagship fund and has already held a first closing on more than half of that amount, Dawn Lim reports. Read More »

EIG Global Energy Partners joined the growing ranks of energy-focused private equity firms writing down the value of investments in their portfolios as lower oil prices take their toll, Shasha Dai reports for LBO Wire. Also, KKR & Co. backed yet another growth deal, leading a $45 million Series C financing round for medical device company Spirox Inc., and Carlyle Group backed its second Japan deal this month with an investment in software company WingArc1st Inc. Read More »

Clearlake Capital Group, a Los Angeles-based midmarket private equity firm, has launched health and wellness platform Better for You, alongside two food industry veterans. The new platform has already invested in two acquisitions.
Also, the Wall Street Journal reports that China’s Anbang Insurance Group is nearing a deal to buy two hotel chains, including one owned by the Blackstone Group. Read More »

In this morning’s media roundup, Carlyle Group is acquiring a majority stake in insurance broker JenCap Holdings LLC and the assets of Wholesale Trading Co-Op Insurance Services.

Also, Audax Group agreed to recapitalize Gastro Health PL, a gastroenterology physician practice management company. And Wellnext LLC, a nutritional supplement provider owned by WM Partners, agreed to acquire Natural Dynamics LLC Read More »