People and Company News, Week of June 20, 2025
- Paul C. Stefunek has been added as a director of business development by Houlihan Capital, an employee-owned valuation, financial advisory, and investment banking firm. Stefunek will cultivate client relationships across Houlihan’s diverse client base, including business owners in high-growth sectors such as cannabis, MedSpa, and HVAC, plus crypto-focused fund leadership. Prior to joining Houlihan Capital, he was managing director of business development at EdgePoint.
- Bennett Blau has joined Evercore as a senior managing director in the healthcare investment banking group, where he will focus on the medical technology sector. He will be based in San Francisco. Blau joins Evercore with over 15 years of investment banking experience. Most recently, he was a managing director in Goldman Sachs’ healthcare investment banking group.
- Darren Williams has been promoted to president and CEO by Martin & Company, an investment advisory firm in Knoxville, TN. Michael Holt, who has led the firm for the past six years, will remain involved in client relationships but is stepping back from day-to-day management of the firm. Williams is a 25-year veteran of the firm and successfully led development of the firm’s small-cap equity strategy. Before joining Martin & Company, Williams graduated from The University of Tennessee.
- Shahid Khoja has joined Turning Rock Partners, a NY-based private investment firm, as head of credit. Khoja brings nearly 20 years of experience across public and private credit investing and leveraged finance, with deep expertise in opportunistic credit, structured products and special situations. Prior to joining Turning Rock Partners, Khoja was managing director and head of credit at Z Capital Group. Before ZCG, he was a director at Garrison Investment Group, focusing on private credit, syndicated loans, and stressed/distressed opportunities. He began his career at Bank of America Merrill Lynch in the corporate credit products group.
- John Lippmann has joined Barings as head of U.S. real estate capital markets, effective immediately. Lippmann will lead the strategy and execution of asset and fund leverage for U.S. debt and equity real estate portfolios and will support various strategic growth initiatives. He will be based in NY and report to Shawn Kimble, head of U.S. & European capital markets & business strategy. Lippmann joins Barings after serving as head of structured debt and as a portfolio manager in the real estate group at NYL Investors. Prior to that, he worked in real estate restructuring for FTI Consulting and in originations and portfolio management at Eurohypo AG. Lippmann began his career in the real estate and lodging investment banking group at JPMorganChase.
- Supernus Pharmaceuticals Inc. has agreed to acquire Sage Therapeutics for up to $795M in cash, including $8.50 per share upfront (about. $561M) and up to $3.50 per share in contingent value rights (about $234M) tied to commercial milestones. The deal adds Zurzuvae, the first FDA-approved oral treatment for postpartum depression, to Supernus’ portfolio. Through a collaboration with Biogen, Supernus will earn 50% of U.S. net revenue from the drug. The acquisition is expected to close in Q3 2025.
- TTAM Research Institute, a nonprofit founded by 23andMe co-founder Anne Wojcicki, has won the bid to acquire the bankrupt genetic testing company for $305M. The deal, which surpasses a $256M offer from Regeneron, includes 23andMe’s genome services, research arm and telehealth unit Lemonaid Health. TTAM pledged to honor existing privacy policies, amid widespread concern about the handling of customer genetic data.
- Mitsubishi Corp. is in discussions to acquire RedBird Capital– and Ontario Teachers’ Pension Plan-backed Aethon Energy Management’s U.S. shale production and pipeline assets for about $8B, according to Reuters. The deal would expand Mitsubishi’s natural gas footprint near the Gulf Coast, aligning with growing energy export infrastructure in the region. Aethon is a major private gas producer in the Haynesville shale and also operates over 1,400 miles of pipelines.
- Commerce Bancshares has agreed to acquire Florida-based FineMark Holdings in an all-stock deal valued at approximately $585M. The acquisition will add $7.7B in assets under administration and $4B in banking assets to Commerce, expanding its footprint in Florida, Arizona and South Carolina. This marks Commerce’s first bank acquisition in over a decade. The deal is expected to close by January 2026. FineMark will retain its brand under Commerce, with Joseph Catti joining as CEO of the new division.
- Wedbush Financial Services, a financial services holding company and parent of Wedbush Securities, has acquired a significant minority stake in Trigon, an investment bank in Central and Eastern Europe. The strategic partnership gives Trigon clients greater access to global investors and cross-border deal capabilities, while Wedbush Securities gains a foothold in the CEE region. The two firms will collaborate on select investment banking mandates, leveraging Wedbush’s global network, which includes partnerships across Asia and an investment in Velocity Trade. Trigon will continue to operate independently under its existing leadership.
- Brookfield Infrastructure Partners has agreed to acquire internet service provider Hotwire Communications from Blackstone in a deal valued at approximately $7B, including debt. Hotwire operates a fiber-optic network across nine U.S. states, serving residential and commercial customers. The acquisition expands Brookfield’s presence in broadband infrastructure.
- Cohen & Steers, Inc., on behalf of its clients’ accounts, has invested $300M in Hudson Pacific Properties, Inc, a West Coast office REIT, as a cornerstone investor to support HPP’s balance sheet recapitalization. The purchase reflects 43% of HPP’s $690 million offering.
- Lincoln Financial has launched LVIP American Funds Vanguard Active Passive Growth Fund, available exclusively within American Legacy® and Lincoln Investor Advantage® variable annuities. The new fund is managed by Capital Group and Vanguard, and offers opportunities for diversified, long-term growth with a strategic blend of active and passive strategies through a Lincoln variable annuity.
- Juniper Square, a connected fund software and services for private markets, closed its Series D round at a $1.1B valuation and secured $130M in new funding led by Ribbit Capital, with significant strategic investment from Fifth Wall, and additional participation from Redpoint Ventures, HighSage Ventures, Blue Owl Capital and others. Juniper Square will use the capital to accelerate investment in JunieAI—the first enterprise-grade AI built specifically for the needs of private markets GPs.
- Post Oak Energy Capital held the final close of its fifth primary fund, raising $600M and an additional $164M through a co-investment vehicle.The fund targets the lower middle market of the North American upstream oil and gas industry as Post Oak continues to bet on continued demand for traditional energy resources. Fund V has already backed five portfolio companies.
