Hedge funds are now entering the municipal debt market, finding a veritable gold mine in value but may provide more problems in the long run as to the temporary nature of the investments.
United States
CustomInk raises USD40 million in funding from Revolution Growth
US-based custom apparel company CustomInk recently secured USD40 million in funding from Revolution Growth, to be used for the expansion of its facilities in Northern Virginia, Charlottesville, and Nevada.
Neuberger Berman surpasses target for private equity secondary fund
Neuberger Berman was able to surpass its original target of USD 1.6 billion for its third private equity secondary fund when it raised USD 2 billion.
Biotech company Cara Therapeutics files for IPO
Connecticut-based Cara Therapeutics Inc. announced its recent filing with the SEC about the proposed initial public offering of the biotechnology company's common stock.
Western Refining aiming at majority stake in Northern Tier
Fortune 500 Western Refining Inc. was negotiating a purchase of a majority stake in Northern Tier Energy LP for USD775 million to capitalize on the rising oil production in the US.
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Backdoor, the anonymous messaging app, founded by technology prodigy Daniel Singer, was able to gather USD 200,000 in seed funding from Brazil-based investment company Arpex Capital.
Allete Clean Energy, a subsidiary of US power company Allete, recently announced its acquisition of three wind farms located in Minnesota, Iowa, and Oregon, for USD27 million.
Emulex Corp announced that it would be holding a share buyback as activist shareholders called for reforms. Emulex Executive Chairman James McCluney will also step down from the company's board.
T-Mobile, a mobile service provider based in the US, had put up for sale its 66.15 million shares worth USD1.96 billion to improve its capacity for wireless data services.
Legg Mason Opportunity Trust Manager Bill Miller said he bought JC Penney debt for a new fund. Miller holds the record of beating the US benchmark for 15 years.
According to sources interviewed by Bloomberg, New York-based private equity firm Forstmann Little & Co had shortened its list of potential bidders for IMG Worldwide Inc, its talent agency, to five.
Boston-based email productivity startup Yesware made its first acquisition by buying troubled San-Francisco based email file sharing startup Attachments.me, which would also be shutting down today.
This is a summary of key economic events and central bank speeches, likely to affect the global economy through the foreign exchange, equity and debt markets.
Accredited investors from The Williams Financial Group participated in the Series C round for Dallas-based Cleantech IT innovations firm Servergy Inc which closed with USD 20 million.
