Maryland-based health care lender MidCap Financial LLC was acquired by an entity managed by alternative asset manager Apollo Global Management LLC for an undisclosed amount.
Finance/Venture
Bitcoin gains momentum in market, reaches USD700 as US Senate discusses regulation
As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
Aberdeen to take on US asset managers after SWIP acquisition
UK-based Aberdeen Asset Management revealed its plan to take away businesses from US investment managers such as BlackRock and Vanguard after completing the acquisition of Scottish Widows Investment Partnership (SWIP).
India denies Reserve Bank of India's request for exemption from Competition Act
A request by the central bank of India to be given exemption from the provisions in Section 54 of the Competition Act, which seeks to regulate bank mergers within a certain period, India's Ministry of Corporate Affairs rejected such request.
ESSA Bancorp inks merger agreement with Franklin Security
Pennsylvania-based ESSA Bancorp Inc signed a definitive agreement to acquire Franklin Security Bancorp in an all-cash transaction that is expected to be finalized by the second quarter of 2014.
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Texas-based national developer and investor Hunt Companies Inc announced the successful acquisition of Centerline Holding Company in a deal that increased Hunt's assets in management to USD24.8 billion.
Denise Nappier, Connecticut's state treasurer, is considering to make a USD125 million investment in Apollo Global Management's Fund VIII. Fund VIII has already raised more than its USD12 billion target.
Canadian private equity firm Fairfax Holdings Ltd. said that it would acquire a controlling stake in Keg Restaurants Ltd. Keg president and chief executive officer David Aisenstat will retain a minority stake of 49%.
An analyst said that the involvement of Bitcoin in the Silk Road online marketplace scandal provided enough boost for the digital currency to receive support from the market, and even US government agencies, as an accepted investment and payment technology solution.
A Reuters report cautioned the risks involved in investing in activist funds like Pershing Square Capital Management because just as it can earn high returns, it could also result to massive losses.
When companies see activist investors as a threat before, a Reuters article said companies are now treating these types of investors as a catalyst for corporate change.
British government-owned The Royal Bank of Scotland said it was looking to sell its retail investor and equity derivatives business. French bank BNP Paribas was identified as a front-runner to acquire the business unit.
Although taking different approaches, investors Bill Ackman and Bruce Berkowitz were attempting to salvage securities acquired before the US housing crisis with a combined value of more than USD100 billion, said a Bloomberg report.
Bitcoing exchange BTC China received USD5 million in Series A investment from Lightspeed China Partners and Lightspeed Venture Partners to fund its general operations, but indicated plans to expand its business.
