Teachers commit to Radnor fund

Article Abstract:

Radnor, Penn.-based. Cross-Atlantic Capital Partners has received a commitment of $135 million for its Co-Investment 2000 Fund from the Pennsylvania Public School Employees Retirement System. The Pennsylvania teachers' pension system, which has assets of $53 billion, decided to enter the high-risk, global venture capital markets.

Receipt of funds, Pension, health, and welfare funds, Pension Funds & Benefit Plans, Investment Offices, Investment Companies, Pension funds, Cross Atlantic Capital Partners

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Purchase of Pilgrim Baxter is called off; the Berwyn fund firm and Nationwide fail to agree on a price

Article Abstract:

Nationwide Financial Services and United Asset Management Corp. (UAM) stopped talks on the sale of Pilgrim Baxter & Associates. Columbus, OH-based Nationwide and Boston, MA-based UAM, which owns the mutual fund firm Pilgrim Baxter, could not agree on the price for the fund firm. People privy to the talks said UAM was asking for close to $600 million for Pilgrim Baxter. Mark R. Thresher, Nationwide treasurer, said the company will explore other means of improving its money management business. The two parties halted talks three weeks since confirming that they are striving to come up with a deal.

Comment:

And United Asset Management Corp. (UAM) stop talks on the sale of Pilgrim Baxter & Associates

Asset sales & divestitures, Acquisitions & mergers, Investment Funds & Trusts, Investment Advisory Services, Investment Advice, Investment advisers, Nationwide Financial Services Inc., United Asset Management Corp., Article

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PNC, Berwind to run fund for small business

Article Abstract:

Berwind Group (Philadelphia) and PNC Bank Corp (Pittsburgh) will each run half of the $50 million Pennsylvania Capital Fund. The fund is owned by the Pennsylvania State Employees' Retirement System and will provide loans of $2 million to $15 million to established businesses with annual revenues as low as $10 million. A survey identified 5000 businesses that would qualify for the loans. The fund was managed by CoreStates Financial Corp until CoreStates was taken over by First Union Corp in April 1998. PNC Bank Corp will manage its half of the fund through its investment unit, PNC Equity Management Corp.

Comment:

Berwind Financial Group (Philadelphia) and PNC Bank Corp (Pittsburgh) will run the Pennsylvania Capital Fund for small business

Investment Banking and Securities Dealing, Investment Banking, New orders received, Public Empl Pension Funds, Investment banks, Abstract, PNC Financial Services Group Inc., Public employee pension funds, PNC, Berwind Financial Group Inc., PNC Equity Management Corp., Pennsylvania State Employees' Retirement System

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