Los Angeles Business Journal

LA FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Equity Firm Pulls Off Sweet $725 Million Deal for Maker of Twinkies

Is Gores Group developing a sweet tooth?

Pot Management Firm MedMen Starts $100 Million Fund

MedMen, a cannabis management company based in Culver City, announced that it was launching a $100 million private equity fund.

Thrive Market Raises $111 Million

Online health food store Thrive Market has raised a $111 million round.

Billionaire Scores $30 Million Stake in Sports Agency

Now that Ron Burkle’s West Hollywood investment firm Yucaipa Cos. has closed a $30 million investment in sports agency Independent Sports and Entertainment, the billionaire is setting to work increasing the earning power of its clients.

Variety Recasts Print Publication in Heated Showbiz Battle

MEDIA: Variety recasts print publication in heated showbiz battle.

Variety raises the curtain on a print redesign in a running battle among showbiz trade publications to draw readers.

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Breitburn Gets OK to Tap Bankruptcy Loan

L.A. oil firm Breitburn Energy Partners has received court approval to draw on $75 million in financing to sustain itself during bankruptcy proceedings.

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CIT Bank Reinvestment Plan Gets Approval, Criticism

Pasadena-based CIT Bank has finally won approval of its new community reinvestment plan from federal regulators, a condition of the consent of its merger with OneWest Bank last summer.

WME IMG Gets $250 Million Investment from Softbank

Beverly Hills talent agency WME IMG has received a $250 million investment from Japanese finance and telecom giant SoftBank.

Ides Capital Tries to Shake Up Boingo’s Board

Activist investor group Ides Capital of New York is working to shake up the board of Westwood’s Boingo Wireless Inc.

PE Roundup: Private Equity Deals Announced This Week

Santa Monica investment firm Clearlake Capital Croup announced Thursday it had led the recapitalization of Synder, Texas oilfield services provider Globe Energy Services. Terms of the transaction were not disclosed.

Stocks Fall

The Dow Jones industrial average was down 24 points in trading day to close at 17,528. The S&P 500 was down four points to 2,057. The Nasdaq was down eight points to 5,041. The LABJ Stock Index was flat at 237.

Sunset Strip Hotel Gets Financing

A luxury hotel project on the western end of the Sunset Strip in West Hollywood has received $260 million in financing, according to the Los Angeles Times. The project, headed by New York developer Witkoff Group, will be the first West Coast outpost for the Edition hotel brand, a collaboration between Marriott International and Ian Schrager, a boutique hotelier.

Stocks Rise

The Dow Jones industrial average was up 156 points in trading Tuesday to close at 17,525. The S&P 500 was up 21 points to 2,043. The Nasdaq was up 43 points to 4,995. The LABJ Stock Index was up five points to 239.

Stocks Fall

The Dow Jones industrial average was down 76 points in trading Wednesday to close at 17,492. The S&P 500 was down16 points to 2,048. The Nasdaq was down 75 points to 5,023. The LABJ Stock Index was down two points to 237.

Stocks Fall

The Dow Jones industrial average was down 163 points in trading Tuesday to close at 17,568. The S&P 500 was down 13 points to 2,064. The Nasdaq was down four points to 5,098. The LABJ Stock Index was down one point to 239.