LDI acquisition could be latest springboard for growth
Indianapolis-based private investment company LDI Ltd. has acquired a small biotech manufacturer in a deal it says could be the launching point for many more acquisitions.
Banking & Finance
Articles
Indiana pension fund assets grow to record high
Indiana's pension fund for public employees and teachers has grown to a record high of $30.2 billion in assets thanks to "a great year" of returns on its investments, the fund's leader says.
New Indiana Toll Road operator due amid bankruptcy
The debt-ridden private company running the Indiana Toll Road intends to transfer its operations to a new entity under a bankruptcy filing planned for Monday.
Accolades all around as Allison owners exit
Private equity firms Carlyle Group and Onex Group fared well on their purchase of Indianapolis-based Allison Transmission, with the $763 million each put into the 2007 deal more than tripling in value.
Examiner appointed in HDG Mansur bankruptcy case
An examiner will be appointed to conduct an investigation into the bankruptcies of two affiliates of troubled Indianapolis-based developer HDG Mansur. A judge, for the time being, denied a request to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7.
Fed signals plan to keep key rate at record low
The Fed said it planned to keep its benchmark rate near zero as long as inflation remains under control, until it sees consistent gains in wage growth, long-term unemployment and other gauges of the job market.
Fishers mobile app developer lands $1M in VC funding
Bluebridge Digital LLC, which creates and manages mobile software applications primarily for not-for-profits, announced Tuesday that it closed a $1 million round of venture capital fundraising and plans to double its work force within a year.
Liquidation not needed, developer HDG Mansur tells court
Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7, saying significant progress has been made toward a plan and global settlement of claims.
S&P report: Stagnant incomes threaten Indiana revenues
Sales tax is Indiana’s largest source of revenue. But it is tied to consumer spending, and Americans have become increasingly reluctant to spend as median incomes have remained virtually stagnant over the past 30 years.
Former Indy Chamber exec joins Old National
Former Indy Chamber President John Myrland has been hired by Old National Bank in the new position of community engagement executive for its Indianapolis region, the bank announced Thursday.
Crowdfunding site Localstake sees surge in deals
The seven-employee Indianapolis firm launched in June 2013, raising funds for two companies in its first six months. Over the following eight months, it brokered funding for eight companies and has eight in queue.
Pete the Planner uses humor, straight talk to become media sensation
Peter Dunn, a prolific tweeter who appears on broadcast outlets as well as in The Indianapolis Star, hopes the release of six books in January further builds his profile.
Local pair wages battle against Manhattan financier
Jonathan Evans and Sean O’Connor of the Carmel investment firm JWEST LLC are trying to win election to the board of Rand Logistics, which they believe is being mismanaged by Chairman Laurence Levy.
Accounting firm adding 100 jobs in South Bend
Chicago-based Crowe Horwath said the additional jobs stem from growth in its audit and tax practices.
Local lawyer among first to accept Bitcoin for services
Intellectual property attorney Paul Overhauser’s clients are often on the cutting edge of Internet technology, so he decided that in addition to dollars, he’ll take digital dough.
Financial services firm to hire up to 153 in Castleton
Chicago-based Cortland Capital Market Services, which has $40 billion in assets under administration, has begun hiring for a variety of financial positions. The Indiana Economic Development Corp. has agreed to provide Cortland up to $1.8 million in tax credits.
Bank to give homebuyers $15K for down payments
Wells Fargo is unveiling a $4.5 million program in Indianapolis that would provide a huge chunk of up-front money for eligible homebuyers.
Appeals court affirms all but two of Durham’s convictions
The appellate court reduced Tim Durham's felony convictions from 12 to 10 and ordered him resentenced. It said the government, in an "oversight," had failed to submit key evidence related to the two dismissed counts.
Mortgage firm to expand to Westfield, add 360 jobs
California-based Carrington Mortgage Services said Thursday it plans to spend $3.2 million to open an office in Westfield. In addition to the new hires, about 180 employees in Fishers would move to the Westfield location.