On Wednesday, KKR & Co. L.P. (NYSE:KKR)’s shares declined -2.93% to $18.91.
KKR, a leading global investment firm, recently declared that it is leading a $42 million growth equity investment in Optimal+, a big data analytics company that provides highly actionable insights to the semiconductor industry. KKR makes its investment alongside the existing lead investors Carmel Ventures and Pitango, two of Israel’s most preeminent venture capital funds. KKR will support the global expansion plans of Optimal+ with primary capital in addition to access to its global network of companies and technology experts.
Optimal+ was founded in 2005 in Tel Aviv by its CEO Dan Glotter, and after several years of R&D investments, has been rolling out its current suite of products over the last four years.
Optimal+ provides an end-to-end solution that delivers actionable business intelligence to the semiconductor industry through a cutting-edge big data solution that analyzes and processes more than 25 billion chips per year. The enterprise software solution collects, cleans and aggregates large amounts of data from multiple manufacturing locations and delivers insights that allow customers to significantly improve their product quality, output yields and processing times with complete supply chain visibility. The product thereby delivers noteworthy cost savings and a high return on investment to its end users.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
Unilever N.V. (ADR) (NYSE:UN)’s shares dropped -0.60% to $39.57.
The U.S. Environmental Protection Agency (EPA) and Unilever declare a research partnershipto develop ground-breaking scientific approaches to better assess the safety of chemicals found in some consumer products without using animal data.
The alternative and cutting-edge approaches, which EPA and Unilever are developing, represent the first steps in a paradigm shift for chemical safety testing and risk assessment by making them faster, cheaper, and more relevant to humans. These new tools will provide a robust scientific basis for assessing and managing chemical safety and efficiently quantifying human health risks for thousands of chemicals.
EPA and Unilever will develop a series of case studies based on chemicals of mutual interest. EPA will develop and provide data using these automated chemical screening technologies. Unilever will use its longstanding expertise in consumer products to estimate exposures for the chemicals. Together, the EPA and Unilever will work to combine the information into a risk assessment. The partnershipwill assist inform how EPA’s ToxCast project can be used by private and public entities as well as in the development of chemical risk assessments.
Unilever N.V. operates as a fast-moving consumer goods company in the Americas, Europe, Asia, Australasia, Africa, the Middle East, Turkey, Russia, Ukraine, and Belarus. The company operates through Personal Care, Foods, Refreshment, and Home Care segments. The Personal Care segment offers skincare and haircare products, deodorants, and oral care products. The Foods segment provides soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines, and spreads.
At the end of Wednesday’s trade, Baidu Inc (ADR) (NASDAQ:BIDU)‘s shares surged 1.30% to $150.11.
iQIYI, an independently operated partner of Baidu (NASDAQ: BIDU) and one of the largest Internet and mobile video service providers in China, recently declared that it will launch a highly anticipated TV series preceding to its broadcast premier, highlighting its efforts to offer more diversified services to its paid users.
iQIYI paid users will enjoy access to the series called “Shu Shan Zhan Ji,” for which iQIYI has attained the exclusive online rights, several months before its TV premier.
This is the first time in China that a highly anticipated, star-driven TV series will be aired online preceding to its TV premier. In the past, TV series have been either broadcast first on television, or simultaneously on both television and online platforms. With “Notes of Tomb Raiders,” iQIYI began testing a new distribution model, highlighting its growing cooperation with cable TV netoperates for the distribution of premium content in China.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Fortress Investment Group LLC (NYSE:FIG), ended its Wednesday’s trading session with -0.92% loss, and closed at $5.37.
Mogo Finance Technology Inc. (GO.TO), one of Canada’s fastest growing financial technology companies, recently declared it has finalized the formerly revealed agreement with Fortress Credit Co LLC (“Fortress”), part of Fortress Investment Group LLC’s (FIG) Credit Funds business (“Fortress Credit”), on a new expandable revolving credit facility of up to $200 million . The new credit facility will be used to finance the continued expansion of Mogo’s consumer installment loans of up to $35,000 (MogoLiquid). The declarement comes shortly after Mogo stated its second quarter 2015 results with loan originations up 137% and revenue increasing by 122% contrast with the second quarter of 2014.
The new facility has an initial commitment of $50 million and can be expanded under certain conditions up to $200 million with an initial effective rate of 9.5% (based on the initial credit facility interest rate of LIBOR plus 8% with a LIBOR floor of 1.5%). If the new facility is raised beyond $100 million , the incremental portion of the facility would have an effective rate of 8.5%, based on recently’s LIBOR, for the first $50 million and an effective rate of 7.9%, based on recently’s LIBOR, for the second $50 million . The term of the new facility is five years, with a two-year origination period and a three-year amortization period. The full terms of the new facility will be filed on www.sedar.com. The new facility is in addition to the Company’s existing facility with Fortress Credit.
Fortress Investment Group LLC is a publicly owned investment manager. The firm provides its services to pooled investment vehicles, pension and profit sharing plans, corporations, institutional managed accounts and structured products, banking or thrift institutions, investment companies, charitable organizations, and state or municipal government entities. It launches and manages hedge funds, balanced mutual funds, and private equity funds.
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