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Euromoney Institutional Investor’s sale of its asset management businesses has kicked into gear. Euromoney put Institutional Investor, along with two research companies, up for sale, two sources said. Goldman Sachs is advising on the process, the sources said. The businesses produce $75 million Ebitda on $275 million in revenue, one of the sources said. They […]
Congress has set its sights on private equity firms potentially profiting from surprise medical billing (also known as “balance billing”). House Committee on Energy & Commerce Chairman Frank Pallone (D-NJ) and ranking member Greg Walden (R-OR) sent letters this week to PE firms that own or have owned physician staffing companies. KKR, Blackstone and Welsh, […]
Blackstone Group is buying Promontory Interfinancial Network for $2.5 billion, sources told Buyouts. Launched in 2002, Promontory provides technology-based services to banks to help them retain large-dollar relationships. The Arlington, Virginia, fintech supplies balance sheet management as well as deposit allocation services to 3,000 financial institutions, the company’s website said. Mark Jacobsen, Promontory’s president and […]
Bluefin Payment Systems, a payment security company, is up for sale, four sources said. Raymond James is advising on the process, the people said. Bluefin, of Atlanta, provides secure payment technology for retailers, enterprises and small-to-medium sized businesses. The company’s security platform supports payment gateways, processors and software vendors in 29 countries. Bluefin produces about […]
What a way to celebrate a 20th anniversary. After roughly a year in the market, Lovell Minnick Partners’ fifth fund closed on its $1.28 billion hard cap. Lovell Minnick Equity Partners V LP, which was oversubscribed, exceeded its $1 billion target, a statement said. Fund V is nearly double Lovell’s last fund, which collected $750 […]
Francisco Partners has put Capsilon up for sale, four sources said. Jefferies is advising on the process, the people said. Capsilon, of San Francisco, provides cloud-based document and data management solutions for the mortgage industry. The company employs 450 people, including more than 200 engineers. Capsilon said its software speeds up loans by automating up […]
One of the hottest deals in payments has hit the pause button. VPAY, the healthcare payments company backed by FTV Capital, is off the market, six sources said. Bids didn’t come in near what VPAY was seeking, sources said. The Plano, Texas, company went up for sale earlier this year, drawing interest from strategics and […]
Fiserv, which just closed its $22 billion buy of First Data, has put its Unified Wealth Platform on the block, four sources said. Citi is advising on the process, the people said. The Unified Wealth Platform provides technology and services, including financial advice management, portfolio management and billing services, for retail brokers, a person said. […]
The secondary market is on pace to hit another record this year. Secondary market volume of completed transactions hit an estimated $46 billion in the first half of this year, up about 25 percent from nearly $37 billion in the same period a year earlier, according to a survey from Setter Capital. If the pace […]
Apollo Global Management, once considered the bad boys of debt, isn’t the most egregious sponsor when it comes to over-the-top loan packages, according to a study from Xtract Research LLC. Vista Equity Partners, Robert Smith’s buyout shop, is the most aggressive private equity firm when it comes to loan covenants, Xtract said. The New York […]

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