Matt is a finance reporter covering venture capital and private equity.
FINANCE: New B. Riley lending arm cares little about cash flow.
Investment Bank B. Riley sets up subsidiary to give asset-rich borrowers the credit banks can’t or won’t.
Some of L.A.’s wealthiest look to secure yields from assets such as corporate debt.
Richard Murad fields complex for son with $2 million tune-up.
Baseball facility proves a diamond-in-the-rough investment for skin care executive.
Adrian Watson had been thinking of attending the Floyd Mayweather-Manny Pacquiao fight since the matchup was first floated years ago.
Beverly Hills firm Platinum Equity announced Monday that it has completed the acquisition of acquisition of Irving, Texas, construction fastener maker PrimeSource Building Products Inc. from Japan’s Itochu Corp. Terms of the deal were not disclosed.
On Assignment Inc., the publicly traded Calabasas staffing firm, said Monday it had agreed to acquire Mid-Wilshire staffing company Creative Circle for $570 million in cash and stock. Another $30 million could be thrown into the pot if certain performance benchmarks were met.
LENDING: City National hopes concessions ease RBC merger.
City National spends time with community activist coalition to help ease union with a Canadian bank.
LENDING: East West among banks seeing more demand for loans backed by agency.
Many small businesses still find it hard to get a traditional bank loan, as tightened regulations and higher capital requirements have made lending to those companies less profitable for banks.
Berkeley’s Greenlining Institute, a nonprofit organization that advocates for economic opportunity for ethnic minority communities, has withdrawn its opposition to downtown L.A.’s City National Bank’s Community Reinvestment Act plan and proposed merger with Toronto’s Royal Bank of Canada. That should help ease the merger.
Calabasas specialty finance firm Fast A/R Funding announced Monday that it has acquired Continental Business Credit in Woodland Hills, a fellow specialty finance firm and asset-based lender. Terms of the deal were not disclosed.