Los Angeles Business Journal

LA FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Banc of California Plans $200 Million Community Investment Fund

Banc of California Inc. announced Tuesday that it is committing to create a $200 million fund that will make investments guided by community leaders, including former Los Angeles Mayor Antonio Villaraigosa.

Tuesday Rundown: New Turner Fund Makes First Purchase, Hello Kitty Stores Coming to Universal Parks

New Turner Fund Makes First Acquisition The Turner Multifamily Impact Fund, a real estate investment fund launched last week by Santa Monica’s Turner Impact Capital, has closed on its first acquisition: Regency Pointe, a 48-building housing community in Forestville, Maryland, near Washington, D.C.

Stocks Mixed; MannKind Lags, Ceres Leads

The Dow Jones industrial average fell three points in Tuesday trading to close at 17,764. The S&P 500 rose one point to 2,080. The Nasdaq fell eight points to 5,014. The LABJ Stock Index fell one point to 229.

Calpers Cuts Could Hit L.A. Money Managers

Calpers, California’s $300 billion public employee pension fund, won’t be the toast of Wall Street this summer. On Monday, the agency announced that it plans to cut the number of external fund managers it works with by more than half, from 212 to 100, in a move designed to save on fee expenses.

Stocks Fall; MannKind Soars, Ceres Keeps Slipping

The Dow Jones industrial average fell 83 points in Monday trading to close at 17,767. The S&P 500 fell 14 points to 2,079. The Nasdaq fell 47 points to 5,022. The LABJ Stock Index fell one point to 230.

PE Roundup: Private Equity Deals Announced This Week

Beverly Hills firm Levine Leichtman Capital Partners announced Tuesday that it has completed the sale of microwave component manufacturer Pacific Wave Systems Inc. in Garden Grove to Canadian telecom systems manufacturer COM DEV International Ltd. Terms of the deal were not disclosed.

Mannkind, ReachLocal Among this Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ index was up less than 1 percent to close at 232, with gainers outpacing losers 94 to 56. Eight companies closed the week unchanged.

Stocks Mixed

The Dow Jones industrial average fell 56 points in Friday trading to close at 17,849. The S&P 500 fell three points to 2,093. The Nasdaq rose nine points to 5,068. The LABJ Stock Index was flat at 232.

Stocks Fall; ReachLocal Rises, Trio Tech Stalls

The Dow Jones industrial average fell 171 points in Thursday trading to close at 17,906. The S&P 500 fell 18 points to 2,096. The Nasdaq fell 40 points to 5,059. The LABJ Stock Index fell one point to 232.

Stocks Rise; Second Sight Climbs, Ceres Deflates

The Dow Jones industrial average rose 64 points in Wednesday trading to close at 18,076. The S&P 500 rose four points to 2,114. The Nasdaq rose 23 points to 5,099. The LABJ Stock Index rose one point to 233.

Bobby Turner Plans Apartment Buying Spree

Bobby Turner is buying apartments. Lots of them.

Gundlach’s DoubleLine Teams with Thorofare on Bridge Loans

Jeffrey Gundlach certainly doesn’t believe short-term real estate loans are a bridge to nowhere.

Stocks Fall; Nova Lifestyle Soars, Puma Plunges – Again

The Dow Jones industrial average fell 28 points in Tuesday trading to close at 18,012. The S&P 500 fell two points to 2,110. The Nasdaq fell six points to 5,077. The LABJ Stock Index fell one point to 232.

Stocks Rise; Portsmouth Climbs, Puma Slumps

The Dow Jones industrial average rose 30 points in Monday trading to close at 18,040. The S&P 500 rose four points to 2,112. The Nasdaq rose 13 points to 5,083. The LABJ Stock Index rose one point to 232.

PE Roundup: Private Equity Deals Announced This Week

Century City’s Breakaway Capital announced Friday that it has joined with Charlotte, N.C., firm Plexus Capital to provide $15 million in financing for IC Real Tech Inc., a Pompano Beach, Fla., video surveillance product manufacturer, which will use the money to fund the production of a new camera.