Sunday, 3 May 2015
Last updated 1 day ago
Feb 12 2010 | 5:37am ET
Private equity firm Tri-Artisan Capital Partners struck a deal to be acquired by boutique investment bank Jesup & Lamont. The agreement-in-principle is not binding and remains subject to negotiation.
Under the current terms, Tri-Artisan’s equity holders—which include several other private equity firms—will get 25 million Jesup shares and $15.74 million for its cumulative preferred stock. The agreement also includes a clause stipulating an equity capital increase to finance the combined entity’s growth plans.
The new firm will be called Jesup Lamont TriArtisan. The deal is expected to close in the second quarter.
“We are very pleased to join forces with Jesup & Lamont,” Gerald Cromack, the co-managing partner of Tri-Artisan who will serve as co-CEO of the combined firm. “We believe that adding the multi-faceted securities distribution capabilities of the Jesup platform, including institutional equity, high yield and investment grade debt, and retail distribution, to Tri-Artisan's advisory and private equity investment activities and client base will provide a solid foundation to grow a next generation diversified financial services firm, configured to take advantage of the dislocation suffered over the past two years by the financial markets and by financial institutions.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…