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13 Private Fund Advisers Charged for Filing Failures by SEC

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The U.S. Securities and Exchange Commission (SEC) revealed settlements with 13 registered investment advisers, a mixture of private equity funds and hedge funds, who repeatedly failed to provide required information that the agency uses to monitor risk. The SEC says these managers failed to file annual reports on Form PF informing the regulator about the private funds they advise. According to the SEC press release, “Without admitting or denying the findings, the advisers agreed to be censured, to cease and desist, and to each pay a $75,000 civil penalty. During the course of the SEC’s investigation, the advisers also remediated their failures by making the necessary filings.”

The managers involved are:

Bachrach Asset Management Inc.
Biglari Capital LLC
Brahma Management Ltd.
Bristol Group Inc.
CAI Managers & Co. L.P.
Cherokee Investment Partners LLC
Ecosystem Investment Partners LLC
Elm Partners Management LLC
HEP Management Corp.
Prescott General Partners LLC
RLJ Equity Partners LLC
Rose Park Advisors LLC
Veteri Place Corporation

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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