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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

Clearlake Backs Deal

PE firm’s Provation acquires medical software platform

Provation Medical Inc., a health care software company backed by Santa Monica-based PE firm Clearlake Capital Group, acquired medical reporting software company MD-Reports.

Diamond Eagle Bets on DraftKings, SBTech

Planned three-way merger heads to SEC for review

Century City-based blank check company Diamond Eagle Acquisition Corp. entered into formal SEC review for a three-way merger with DraftKings Inc. and SBTech Ltd.

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Manifest Buys SF Business

Cannabis company adds to string of acquisitions

Cannabis logistics company ManifestSeven has acquired San Francisco-based cannabis delivery service Lady Chatterley Health.

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Bank Branches Change It Up

LA sets the pace for new customer experiences

To keep up with changing customer needs, L.A. banks have had to ramp up investment in technology and offer a new kind of customer experience.

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Platinum Equity Closes $10B Megafund

Private equity firm attracts more than 250 investors for latest offering

Beverly Hills-based private equity firm Platinum Equity has raised $10 billion for its latest flagship fund.

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Healthy Returns

Arrowhead, Fulgent drove a strong 2019 for L.A. stocks

Last year was a good one for the stock market, and Los Angeles-area companies rode the wave.

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Banking & Finance: Leaning into technology and looking to cut costs

Los Angeles banking and finance in the year ahead will be shaped by technological innovation, cost-cutting and a possible economic slowdown, local experts predict.

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Venture Capital: Firms will find opportunities exist amid uncertainty

Venture capitalists in Los Angeles see opportunities for the year ahead — regardless of the state of the economy.

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K1 Joins $580 Million Buildium Sale

PE firm was first backer of software developer

Manhattan Beach-based private equity firm K1 Investment Management has sold its stake in property management software company Buildium to RealPage Inc.

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Rubicon Sets Telaria Deal

Merger with NY company will create ad tech giant

Playa Vista-based advertising technology company Rubicon Project Inc. will merge with New York-based Telaria Inc. to create what the companies call the world’s largest independent sell-side advertising platform.

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Westlake Financial Strikes Canadian Partnership

Hancock Park-based Westlake Financial Services Inc. and sister company Nowcom Corp. entered into a strategic partnership with Canadian auto finance company Source One Financial Corp.

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Kennedy Wilson Raises $775 Million

Beverly Hills-based Kennedy Wilson has secured $775 million in capital commitments.

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RBC Nabs $7.5 Billion LA Wealth Management Team

RBC Wealth Management U.S. has snapped up a team of L.A.-based financial advisors that manages approximately $7.5 billion in assets.

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Leonard Green Raises Megafund

Finance: Firm closes $12 billion flagship vehicle to pursue large investments

Los Angeles’ largest private equity firm by assets under management, Leonard Green & Partners, has closed two funds totaling $14.75 billion.

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Hub Lands LB Agency

Finance: Insurance broker buys HMBD

Long Beach-based HMBD Insurance Services Inc. has been acquired by Chicago-headquartered insurance giant Hub International Ltd.

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