Century City private equity and debt giant Ares Management could be in line for another big payday.
It’s finally a done deal: CIT Group Inc. in Livingston, N.J. announced Monday it has completed its acquisition of Pasadena’s OneWest Bank for about $3.4 billion in cash and stock.
Mikawaya taps tortilla veteran to push Japanese treat
Maker of mochi ice cream Mikawaya hires tortilla veteran to roll up more sales.
LENDING: One foe turns to crowdfunding; group eyes OneWest-CIT’s CRA plan.
San Francisco community activist organization California Reinvestment Coalition and a host of other advocacy groups spent the better part of a year protesting the merger of Pasadena’s OneWest Bank and CIT Group Inc., of Livingston, N.J.
Studio Lions Gate may be star attraction on list of L.A.’s most profitable public companies, but real estate brokerages making all the right moves.
While movie studios continue to produce, real estate brokerages are the real stars of the Business Journal’s list of most profitable public companies.
BANKING: Analyst says his money was on merger despite activists’ concern.
Regulators endorse OneWest-CIT merger as activist opposition seemed to have little impact.
Months after rumors of the deal first surfaced, private equity and debt giant Ares Management announced Thursday that it has agreed to acquire fellow Century City finance firm Kayne Anderson Capital Advisors for $2.6 billion, mostly in stock.
Downtown Los Angeles’ City National Corp., the parent company of City National Bank, reported strong second-quarter earnings Thursday that included the bank’s highest-ever net income.
New York finance giant Citigroup Inc. announced Wednesday it will shut down its Los Angeles subsidiary Banamex USA after agreeing to a $140 million settlement with federal and California regulators over the bank’s failure to adequately monitor possible money laundering.
Hollywood marijuana industry finance firm Kind Financial announced Tuesday that it has teamed up with former bank regulators to introduce software that the firm promises will allow cannabis businesses to remain compliant with bank regulations.
Just shy of a year after the deal was first announced, federal banking regulators have signed off on New Jersey lender CIT Group Inc.’s purchase of Pasadena’s OneWest Bank.
Downtown L.A.’s Preferred Bank, which focuses on lending to Chinese-American businesses, announced Monday that it has signed an agreement to acquire United International Bank in Flushing, N.Y.
INVESTMENT: Vet execs at Houlihan Lokey may seek opportunity to cash out.
Longtime execs could be banking on Houlihan Lokey’s planned IPO as a chance to cash out.
DINING: Ricebar co-owners serve fast-casual lunches to local business crowd.
When chef Charles Olalia came back to Los Angeles after getting married in his native Philippines, he decided to start cooking more dishes that reminded him of home.
LENDING: City National, RBC must wait until after merger to work together.
When downtown L.A.’s City National Bank agreed to merge with Toronto’s Royal Bank of Canada, City National Chief Executive Russell Goldsmith said the deal would let his bank do more for its customers by leveraging RBC’s much bigger balance sheet.
INVESTMENT: Analysts see exchange’s drop resulting in more money sent here.
Analysts see China’s market crash possibly spurring investors there to stock up on L.A. assets.
Gores Group plans to buy something – but it hasn’t said what.
El Segundo firm Century Park Capital Partners announced Tuesday that it has acquired Better Life Technology, a Lenexa, Kan., manufacturer of specialized vinyl flooring products. Terms of the deal were not disclosed.
Struggling El Seguno toymaker Mattel Inc. released second-quarter earnings after markets closed Thursday, reporting a smaller loss than analysts had expected.
Shares of West L.A. investment bank and brokerage B. Riley Financial Inc. will start trading on the Nasdaq exchange Thursday, making the jump from an over-the-counter exchange.
Lauren Haas will never again misunderstand the meaning of “water resistant.”
FINANCE: Anworth shares rise as rate increase by Fed seen as unlikely.
Anworth Mortgage Asset Corp.’s shares climb as Fed shows little interest in raising rates.
Brentwood firm Corbel Structured Equity Partners announced Wednesday that it has invested in Culver City nail products company Cosmetic Design Group alongside Newport Beach firm Five Crowns Capital. Irvine’s Opus Bank provided financing for the deal. Terms were not disclosed.
Tuesday Rundown: Americas United Bank Agrees To Buy Banc of California Branches, Pacific Commerce Bank Names New COO
Glendale’s Americas United Bank, which primarily caters to the Latino community, announced Monday afternoon it had agreed to acquire two branches from Irvine’s Banc of California Inc. Terms of the deal were not disclosed.
MANUFACTURING: Stock lift helps AeroVironment blunt criticism of board.
AeroVironment shares take off after the drone maker’s quarter surpasses expectations.
INVESTMENT: Crisis drives growth at new London outpost of Rosland Capital.
The deteriorating situation in Greece is scary to a lot of international business owners, but Marin Aleksov isn’t one of them.
BANKING: East West takes lead role in helping Chinese investors break into movie business with U.S. studio deals.
East West’s star is on the rise with Chinese investors looking to connect with Hollywood studios.
Silver Lake Partners is increasing its focus on the silver screen.
Regulators still steer parties toward purchasing institutions rather than chartering new ones.
Investors who moved early to roll up community banks left slim pickings for those looking to join market.
Investors who got a jump on rolling up small banks left little for those now looking to vault into sector.
AUTOMOTIVE: Dealerships’ margins have taken back seat as incentives, low interest rates have revved up business.
Dealerships have been riding a steady rise in sales, but incentives and low interest rates have driven down margins.
Santa Monica firm Clearlake Capital Group announced Tuesday that one of its portfolio companies, Chicago legal outsourcing firm Inventus Solutions Inc., has acquired Kooby, a London software development firm that focuses on e-discovery. Terms were not disclosed.
Hollywood marijuana industry finance firm Kind Financial announced Thursday that it had agreed to acquire the assets of Agrisoft Development Group, a Kansas City, Mo., company that has developed a software suite designed for the marijuana industry and its – umm – unique compliance requirements.
Downtown L.A.’s City National Bank on Wednesday released its second-quarter Economy and Jobs Report, which showed California is off to a strong start in 2015.
Another advocacy group has signed off on the sale of Downtown L.A.’s City National Bank to Toronto’s Royal Bank of Canada, potentially easing the deal’s approval by regulators.
Magic Johnson Enterprises, the Beverly Hills investment firm founded by the Laker legend, announced Monday that it has completed the acquisition of a controlling stake in EquiTrust Life Insurance Co. in West Des Moines, Iowa.
Pasadena prepaid debit card firm Green Dot Corp. announced Monday that it has signed a new five-year deal with its most important customer, Wal-Mart Stores Inc.
INVESTMENT: Analysts expect smooth handling of Kirk Kerkorian’s estate.
Analysts expect the handling of late billionaire Kirk Kerkorian’s estate to provide little insight into the extent of his wealth.
LENDING: Banc of California project part of deal to acquire Popular.
Paulina Gonzalez might be the most feared person in California banking.
Century City firm Ares Management announced Wednesday that its subsidiary, Ares EIF Management, along with Genesis Power in Needham, Mass., have sold the soon-to-be-built Keys Energy Center in Maryland to PSEG Power in Newark, N.J.
San Francisco merchant services firm Square Inc. is adding some star power, announcing that Lakers great and Dodgers part owner Earvin “Magic” Johnson will join the firm’s board this summer.
INVESTMENT: Ares exec’s compensation dwarfed by $113 million distributions.
Private equity firms’ compensation practice pays off in big distributions for executives.
ENTERTAINMENT: Starz speculation spurs investors to rush into Lions Gate.
Studio Lions Gate channels talk of TV deal for Starz into stock surge.
A brief encounter with tech billionaire Elon Musk three years ago wound up being financially fortuitous for David Murphy.
Westwood’s St. Cloud Capital announced Wednesday that it has made an investment in Santa Fe Springs sporting goods company Bravo Sports. The investment will support the merger of Bravo and One Industries, a San Diego biking and motorcycle sports firm majority owned by Transom Capital Group in Brentwood. Terms were not disclosed.
Private equity and debt giant Ares Management is close to acquiring fellow Century City money shop Kayne Anderson Capital Advisors, according to a report from Bloomberg.
Wednesday Rundown: Wage Hike Almost Official, Sundance Cinema Selling, Arrowhead Drug Gets ‘Orphan’ Incentives
Council OKs Wage Hike It’s almost officially official: The Los Angeles City Council has given final approval to a minimum wage hike in the city, sending the measure to the mayor’s desk.
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.
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.
LENDING: Investment giant teams with Thorofare in pursuit of high yields.
DoubleLine rates Thorofare worthy of a partnership as it as crosses over into bridge loans.
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