GetAccept Closes $7M Series A Funding Round Led By DN Capital
GetAccept today announced it has raised a $7 million Series A funding round led by DN Capital, with participation from BootstrapLabs, Y Combinator and a number of Spotify's early investors including the former CFO of Spotify, Peter Sterky.
Coronavirus Crisis Is Redefining Role Of Private Equity CFOs
The Covid-19 outbreak is changing the way that businesses around the world operate – and private equity is no exception. As consequences of the pandemic set in, firms are beginning to embrace technology and automation, pushing the role of the CFO firmly from the backroom out onto the shop floor.
Sears Inks $200M Credit Line From CEO Eddie Lampert's Hedge Fund
Sears Holdings has landed a fresh line of credit, valued at $200 million, from its CEO Eddie Lampert's hedge fund, according to a Monday filing with the Securities and Exchange Commission. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75 percent per year, Sears said. "This facility is intended to provide the Company with the flexibility to generate additional liquidity on an as-needed basis," Sears CFO Rob Riecker said in a statement. "This adjustment to our capital structure demonstrates that...
VSCP Hires Two As GP And Another As CFO
Vesey Street Capital Partners, a middle-market healthcare-focused private equity firm, has hired Larry Marsh and David De Luca as general partners. Also, the firm has named Bryan Sekino as chief financial officer. Previously, Marsh was executive vice president of new market development and chief strategy officer at AmerisourceBergen while De Luca worked at Morgan Stanley where he was a managing director and head of U.S. institutional equity sales in New York and other regions. And, Sekino worked at Brant Point Capital Management.
Cannabis Tech Platform MassRoots Taps PE Exec As CFO
MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, is pleased to report it has recruited Robert “Bob” Pullar as Chief Financial Officer. Since November 2006, Mr. Pullar has served as Managing Director of Axis Private Equity Group, LLC, an investment firm focused on making equity investments in well-managed, profitable companies. He has negotiated leveraged buyouts, management buyouts, recapitalizations and equity investments with privately held businesses and subsidiaries or divisions of public companies.
Calpers Staff Says Pension Should Lower Return Target To 7%
<p>The California Public Employees’ Retirement System, the largest U.S. pension plan, should reduce its assumed return rate to 7 percent from 7.5 percent over the next three years amid long-term projections for slow growth and unfavorable demographics, according to its chief financial officer.</p>
<p>Cheryl Eason, CFO for the $303 billion retirement system, proposed starting with a reduction to 7.375 percent in fiscal 2017-2018 that will allow agencies to prepare for the change in the fiscal year starting June 30, with additional target reductions to follow.</p>
Adams Street Partners Names Nuveen's Amboian To Board Of Directors
Global private equity manager Adams Street Partners has appointed Nuveen non-executive chairman John Amboian to its board of directors. The appointment is effective March 2017, according to the company. Amboian will replace long-serving director A. Bart Holaday, who is retiring. Amboian has more than three decades of experience across the financial and consumer industries. He is currently non-executive chairman of Nuveen Investments and previously held the position of chairman and CEO from 2007 through early 2016. Amboian joined Nuveen in 1995 and served as the CFO until 1999, when he was appointed the firm’s president. Prior to joining Nuveen, Amboian...
Former Valeant CEO, CFO Focus Of U.S. Criminal Probe; Shares Fall Anew
The former CEO and CFO of Embattled Canadian pharmaceutical company Valeant, a core holding of Bill Ackman's hedge fund Pershing Square Capital Management, are reportedly the focus of U.S. prosecutors as they explore whether to bring a fraud case against the drugmaker.
Metropolitan State Loses Least In Tough Year For College Endowments
Metropolitan State University’s endowment bested six other Colorado colleges and universities in a poll by BusinessDen, keeping its losses to less than a percentage point in a year when even Harvard’...
Soundtrap Secures $6M Series A Round Funding To Embark On New Markets
<p>The Series A round was led by Nordic VC firm Industrifonden, with participation from existing owners and additional new investors including Peter Sterky, former CFO and COO of Spotify.</p>