FINANCE
Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news
Former Manager of CBS Credit Union Sentenced
Edward Rostohar, 62, of Studio City, has been sentenced to 14 years and one month in federal prison for his involvement in a 20-year embezzlement in which investigators said he stole an estimated $25 million from the now-defunct CBS Employees Federal Credit Union, the Los Angeles Times reported today.
A Rare Bird
Hawke Ventures offers funding and media support to help startups take wing
Hawke Ventures offers funding and media support to help startups take wing
Science Projects
Santa Monica venture capital firm seeks out and supports disruption-minded startups
Santa Monica venture capital firm seeks out and supports disruption-minded startups
Colony Capital and Zell’s Equity Group Team Up to Provide Capital to Oil and Gas Industry
Los Angeles-based Colony Capital Inc. and Chicago-based Equity Group Investments Inc. announced Sept. 10 a joint venture to provide capital and asset management to the oil and gas industry.
Unemployment Steady in L.A. County Despite Seasonal Job Losses
L.A. County’s unemployment rate held steady at 4.5% in July.
LA Financial Credit Union to Merge with Ventura County Credit Union
Pasadena-based L.A. Financial Credit Union has agreed to merge into the Ventura County Credit Union, creating an institution with $1.3 billion in assets and serving 120,000 members in California and Arizona.
Crescent Capital BDC Buys Alcentra Capital for $142 Million
West Los Angeles-based Crescent Capital BDC, a business development company focused on originating and investing in debt of private companies, has purchased Alcentra Capital for $142 million in cash and stock.
Boxwood Merger Corp. Buys Austin-Based Atlas Intermediate Holdings
Boxwood Merger Corp., which raised $200 million in a public offering in November, has purchased an Austin, Texas-based professional and technical services business that could capture future federal dollars for infrastructure development.
Platinum Equity Buys Wesco Aircraft for $2B
A portfolio company of Beverly Hills-based private equity firm Platinum Equity has paid $1.9 billion to buy Wesco Aircraft Holdings Inc., a Valencia-based aerospace parts and supply chain services provider.
Colony Capital Sees Losses Widen in Second Quarter, Plans to Sell Industrial Unit
Colony Capital Inc., a downtown-based real estate investment firm undergoing a difficult turnaround following its acquisition of NorthStar asset management and realty finance in early 2017, saw wider losses in its second quarter.
Regent Buys Accell Group's North America Cycling Business
Beverly Hills-based private equity firm Regent, which last month acquired French cycling company Mavic from Amer Sports, has purchased the North America cycling business of Dutch-based Accell Group.
Private Equity Firm Lovell Minnick Sells Stake in Worldwide Facilities
Manhattan Beach-based private equity firm Lovell Minnick Partners has sold its position in Worldwide Facilities, a downtown-based wholesale insurance brokerage.
Lido Advisors Expands Wealth Management Business
Century City-based Lido Advisors purchased a Maryland wealth advisory business as it pushes to build out its national footprint.
City National Buys Financial Software Firm Catered to Entertainment Businesses
Beverly Hills-based City National Bank has purchased FilmTrack Inc., a Studio City-based company that tracks payments, contracts and a range of other financial transactions for the entertainment and media industries.
Inglewood Meeting Place Fosters Startups
FINANCE: Sip & Sonder builds businesses, community
Inglewood’s Sip & Sonder offers a hub or networking with venture investors — and a strong cup of coffee.
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