A person familiar with the matter told Bloomberg that JPMorgan Chase & Co plans to divest its global investment unit based in Hong Kong so it can simplify its operations.
Institutional investors
Chicago's WyzAnt lands $21.5M to beef up tutoring services
Chicago-based tutoring services provider WyzAnt has received $21.5 million in a Series A funding round from Accel Partners to expand its services and develop new digital tools for student-tutor interaction.
Judge says Nasdaq OMX Group Inc must face investors' lawsuits in botched Facebook IPO
US District Judge Robert Sweet ruled that Nasdaq OMX Group Inc needs to face the cases filed against it by investors who claimed that the exchange platform was responsible for the bungled Facebook IPO, Reuters reported.
Telecom Italia rebel investor submits list of candidates for new board
Shareholders of Italian telecom company Telecom Italia are were said to vote this week on whether or not to oust its current board. Rebel investor Findim Group on Monday proposed candidates for Telecom Italia's new board.
San Francisco motivational startup Pact secures $1.55M to help people achieve health goals
San Francisco-based motivational startup Pact has raised $1.55 million in a recent funding round to develop its mobile apps that help users hit health goals through monetary stakes.
Latest News
To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.
Ireland-based e-commerce fraud prevention startup Trustev added a $500,000 investment from Notion Capital to its recently closed $3-million seed round to capitalize on the booming e-commerce.
Spain's bank restructuring fund FROB on Monday announced that it had received six binding offers for a majority stake in bailed-out bank NCG Banco. Banks and private equity firms from Spain, Venezuela and US reportedly eye the NCG stake.
Auction house Sotheby's named Tom Ford International Chairman and former Gucci head Domenico De Sole as its lead independent director amid criticism from activist investor Daniel Loeb.
Santa Clara, California-based stealth micro-LED technology firm LuxVue Technology Corp has raised $25.2 million in funding, according to a filing with the Securities and Exchange Commission.
Private equity firms Blackstone Group, CCMP Capital and Investcorp are the only remaining bidders for a minority stake in Italian fashion house Versace. Versace seeks to exit a 20% stake in the first quarter of next year.
Citing a December 13 filing with the US Securities and Exchange Commission, Bloomberg reported that Legg Mason Inc's Bill Miller will be starting a mutual fund under his own name together with his son.
Cyber security solutions provider Invincea Inc said it was able to close its Series C round with $16 million. The equity round was led by new investors Aeris Capital and Dell Ventures.
The proposed sale of ParexGroup, the industrial mortars business of construction company Materis, has stalled after the highest bids only reached €800 million. Materis and its private equity backer Wendel earlier asked for €1 billion for Parex.
