PE Week Wire - Friday 10/24
Summary
He was hired two years ago as an independent consultant, and helped move the conservative North Carolina pension fund into riskier asset classes like venture capital, real estate and public stocks. The Akron Beacon Journal is reporting that Ron Clark (former president of Ohio Polymer Enterprise Development Corp.) and Robert Acri (principal of Kenilworth Asset Management) plan to launch a $100 million venture capital fund. Vertex is a provider of aerospace and other technical services to the Department of Defense and other government agencies, including the U.S. Air Force, Army, Navy, Marine Corps, Dept. WL Ross & Co. LLC, a New York-based private equity firm, announced that creditors voted in favor of its purchase of Burlington Industries upon its reemergence from Chapter 11 reorganization now targeted for November 10, subject to prior Bankruptcy Court approval. TWI, formerly known as Tempur World Inc., was acquired earlier this year in a $350 million buyout led by private equity firms TA Associates and Friedman, Fleischer & Lowe.
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