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Deals of the Day: OneWest, FreshBooks, AvantCredit
To get deals in your inbox each morning, sign up for our Term Sheet newsletter. The Big Deal • CIT Group will pay $3.4 billion for OneWest Bank, a bank created in 2009 from the failed lender IndyMac....
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Law, order and an IPO: Police uniform maker may go public
There very well could be a new sheriff in town. 5.11 Tactical, a company that makes law enforcement uniforms, guns weapons and combat wear, is in talks for a possible initial public offering by owner...
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Goldman’s private equity problem is getting bigger
The Volcker Rule may be causing Goldman Sachs to become greedy in the short-term as well. The investment bank, which has long claimed to be focused on the long-term, beat Wall Street’s estimates in its...
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In developing economies, equity beats microfinance
A new effort is underway to advance entrepreneurship in the developing world. The U.S. State Department recently launched a program to promote business creation in emerging markets known as the Global...
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Exclusive: Observer Capital launches, buys SourceMedia
Investcorp finally has found a buyer for SourceMedia, publisher of venerable financial trade publications like the American Banker and the Bond Buyer. We’ve learned that it is Observer Capital, a new...
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Buyout giants: We didn’t conspire. Here’s $325 million.
And then there was one. Three private equity firms have agreed to pay a total of $325 million to settle their part in a bid-rigging lawsuit that originally included 10 defendants. Today’s agreement...
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Pay problem continues at top private equity firm Apollo
Leon Black, last year’s highest paid private equity executive, isn’t backing away from handing out big pay checks, even if his firm’s performance doesn’t seem to justify it. Black’s shareholders...
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Bucking trend, Guitar Center plans big expansion, overhaul of store fleet
Guitar Center is the rare retailer to be betting heavily on brick-and-mortar for its future. At a time when overall music instrument sales have stalled and web sites like Amazon.com AMZN , eBay EBAY...
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And, exhale… Lululemon, founder reach truce – for now
Lululemon Athletica can relax its warrior pose for now. The yogawear retailer has reached a truce with its founder, chairman and top shareholder Chip Wilson, who agreed to delay any proxy war against...
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Obama’s ‘best friend’ raises millions for private equity fund
President Obama spent much of the 2012 campaign railing against private equity and its poster boy, Mitt Romney. Now his close pal Marty Nesbitt is running a Chicago-based private equity firm that...
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J.P. Morgan can’t always get what it wants
One Equity Partners is finally independent, around one year after news first broke that the private equity group was being spun out of J.P. Morgan Chase & Co. JPM . J.P. Morgan has been the only...
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Deal platform Axial raises $11 million from Comcast
Axial, an online platform for private company financings, has raised $11 million in Series B funding, Forune has learned. An announcement is expected later today. Comcast Ventures led the round, and...
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Gary Fencik: A ‘hit-man’ aims high
Transitionsthats all life is: story time to blocks, school to work, retirement to dead. For many former pro athletes, though, theres one transition thats about as disorienting as they come: the seismic...
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Should you buy stock in private companies?
Nelson Griggs used to have a relatively straightforward job. As a senior executive for Nasdaq OMX, Griggss primary task was to persuade companies that were planning to go public to choose his company...
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Investing in private startups is a hot trend. But, sorry, you’re not invited.
Reports of the demise of SecondMarket have been greatly exaggerated. The company carved out a niche by facilitating trades of private-company stock, particularly pre-IPO shares of LinkedIn LNKD and...
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The Carlyle Group’s $36 billion bet
The Carlyle Group CG is scheduled to defend itself this fall against allegations that it conspired with other large private equity firms to rig bids of large acquisitions prior to the financial crisis....
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Bieber, Taylor Swift get the blame for Elizabeth Arden’s 28% sales drop
After years of great effort trying to become the pre-eminent purveyor of celebrity fragrances, troubled beauty company Elizabeth Arden RDEN has placed the blame for its collapsing business on two of...
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CalPERS quietly sold part of Silver Lake stake
America’s largest public pension system quietly sold around 30% of its stake in tech-focused private equity firm Silver Lake Partners in early 2013, Fortune has learned. The California Public...
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Ann Taylor brings on JPMorgan as it considers sale in wake of activist campaign
Ann Taylor is paying attention to activist investor Engine Capital, which is urging the retailer to put itself up for sale. Ann Inc. ANN has brought on JPMorgan Chase JPM to explore strategic options,...
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Exclusive: Blackstone Group is Market Basket’s mystery backer
The Blackstone Group is the mystery private equity firm behind Arthur T. Demoulas’s agreement to purchase New England supermarket chain Market Basket, Fortune has learned from a source close to the...
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