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...
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.
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.
<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>
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...
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 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'...
<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>
Soundtrap, the online music and audio recording studio, has announced it has raised $6 million in a Series A round led by Nordic VC firm Industrifonden, with existing investors and former CFO of Spotify Peter Sterky contributing to the round. This brings the total amount raised by the startup to $8.5 million.
Shares of chip giant Intel (<a href="http://www.barrons.com/quote/stock/INTC">INTC</a>) are up 7 cents at $37.23, in late trading, after <a href="http://www.intc.com/releasedetail.cfm?ReleaseID=989954&ReleasesType=Corporate%20News">the company said</a> it named private equity partner Robert “Bob” Swan, of General Atlantic, as its new chief financial officer, taking over that role from Stacy Smith, who had already moved to running sales and operations under CEO Brian Krzanich.