People and Company News, Week of July 19, 2024
- Alex Williams has joined LPL Financial to launch a new independent practice, Stable Wealth. He reported serving approximately $170M in advisory, brokerage and retirement plan assets and joins from Edward Jones. Based in Olympia, WA, Williams is a 25-year veteran of the financial services industry.
- Ava Harter was hired by Lam Research as SVP and Chief Legal Officer. Harter previously held roles at Whirlpool Corporation as EVP and Chief Legal Officer, and as General Counsel at Owens Corning. Harter’s portfolio also encompasses legal positions at General Electric, Dow Chemical, and law firms Jones Day and Thompson Hine.
- Nicholas Morse was appointed chief business development officer by Apex Group Ltd., a financial services provider. Morse is expected to drive the expansion of its business development efforts across the Americas. Morse brings more than 25 years of experience as a financial services executive, with managing director titles at SS&C Technologies, Addepar and BlackRock.
- James Camarda was hired as a managing director by Star Mountain Capital, LLC, an investment manager with over $4b in assets under management. Camarda will be in the Tampa, FL office. Camarda brings two decades of experience in the alternative investment sector. During his career at Merrill Lynch, Camarda established himself as a thought leader in the alternative investment space. As a director and divisional alternative investments specialist, he led a team of four specialists, managed a seven-state territory and engaged with over a thousand financial advisors.
- Harry Kim was named a managing director within the life sciences group of professional services firm Alvarez & Marsal. Kim has over 25 years of experience in life sciences and healthcare. Prior to joining A&M, Kim served as global business leader for Samsung Health delivering services to over 360 million users.
- CW Advisors LLC, a registered investment advisor headquartered in Boston and backed by Audax Private Equity, has acquired Cubic Asset Management, an RIA located in Hamilton, N.J. The deal adds over $700M of client assets to CWA. Terms of the transaction were not disclosed. With the addition of Cubic, CWA has eight offices across the country, 88 employees, and over $8.6 billion in total assets. The deal, completed in June, marks the second acquisition for CWA since its partnership with Audax Private Equity in June 2023.
- Trivest Partners, a middle-market private equity firm with over $5.5B in assets under management, has invested in Province, a restructuring and financial advisory firm. Headquartered in Las Vegas, Province offers a suite of multi-disciplinary services designed to help institutional investors, debtors, creditors and trustees navigate strategic, financial, operational and legal challenges. The company’s services are focused on creditor, investor and corporate advisory, as well as performance improvement, trust & liquidation and litigation services.
- Diversis Capital Management LP, a Los Angeles-based private equity firm focused on investing in software and tech-focused services organizations, has purchased Infotech, an infrastructure construction software services company. With Diversis, Infotech gains access to resources to drive product innovation that will benefit construction professionals who use AASHTOWare Project and Infotech’s suite of bidding and construction management tools.
- Shamrock Capital, the descendant firm of the late Roy E. Disney’s family investment fund headquartered in Los Angeles, has bought a film, television and music portfolio from Vine Alternative Investments Group LLC. The portfolio is comprised of an ownership interest in more than 550 feature films, over 2,000 hours of television programming and over 450 songs.
- Genstar Capital has agreed to make a significant investment in AffiniPay, a provider of practice management software, integrated payments and embedded fintech for professionals across the legal, accounting and professional services end markets. TA Associates has been an investor in AffiniPay since 2020 and will continue to retain a meaningful stake in the company. Upon completion of the deal, Apax, which currently holds a minority position in AffiniPay, will fully exit its investment.
- Menlo Ventures has continued its thrust into AI investment via a new $100m fund launched in partnership with $18.4bn-valued AI startup Anthropic. The firm’s AI investment team will use the fund to make pre-seed, seed and Series A investments, with chosen startups also gaining access to Anthropic’s AI Models and team. The fund will focus on AI infrastructure, consumer AI, trust and safety tooling, frontier applications and AI apps and tech that maximize societal benefits.
- Coast, a New York-based company that offers a smart way for U.S. companies to manage fuel and fleet spending, raised $40M in Series B financing led by ICONIQ Growth. Existing investors Accel, Insight Partners, Vesey Ventures, and Avid Ventures, as well as new investors Thomvest joined the round. ICONIQ Growth general partner Yoonkee Sull has joined Coast’s board of directors.
- Allium, a NYC-based blockchain data platform for enterprises, raised a $16.5M Series A funding, bringing the firm’s total capital raised to $21.5M. The round was led by Theory Ventures with participation from seed investors Kleiner Perkins and Amplify Partners. Tomasz Tunguz, founder of Theory Ventures, will join the board as part of its investment.
- CTERA, a NYC-based company which specializes in hybrid cloud data management, received a primary and secondary growth investment from PSG Equity. As part of the transaction, Ronen Nir, managing director at PSG, has joined CTERA’s board of directors alongside existing shareholders Benchmark, Bessemer Venture Partners, and Red Dot Capital Partners.
