AlpInvest recruits Gruccio as principal

Carlyle Group‘s AlpInvest Partners has hired Jeff Gruccio as a principal on its primary investments team. Previously, Gruccio worked at Prudential Financial where he was an investment vice president. PRESS RELEASE AlpInvest Partners, a global private equity investor in primary funds, secondaries and co-investments, today announced that Jeff Gruccio has joined the firm as a Principal on its Primary Investments team. Mr. Gruccio, who started his new role this week, will focus on leading and overseeing U.S. primary investments and will report to Eric Hanno, Co-Head of Primary Investments at AlpInvest. Mr. Gruccio was previously an Investment Vice President with Prudential Financial, one of the largest U.S. life insurance companies., which he joined in 2014 as part of the in-sourcing of the company’s private equity investment activities. At Prudential, Mr. Gruccio helped manage Prudential’s $5 billion portfolio, was responsible for sourcing and leading new fund commitments
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New Study Finds Offshore Wind May Be Haven for Sea Life

A forthcoming study looks set to add to a growing body of evidence suggesting offshore wind farms have a long-term beneficial impact on sea life.

The study, submitted for publication in the aquatic sciences journal <em>Hydrobiologia</em>, concludes offshore wind farm (OWF) turbine foundations in the North Sea could improve biodiversity by providing new homes for the blue oyster, a key marine ecosystem builder.&nbsp;

&ldquo;The construction of all currently planned, consented and under-construction OWFs, in addition to those already in operation, is likely to increase the overall abundance of blue mussels in the southern North Sea by more than 10 percent,&rdquo; according to&nbsp;<a href="" >the paper</a>.

&ldquo;The blue mussel bioengineers its surrounding environment through shell litter fall, water filtration and clarification, [and] concentration of nutrients, ultimately increasing the species diversity and landscape heterogeneity as a result of structural and functional effects," the paper states.

Lead author Kaela Slavik, science officer <div class="post-limited-image"><img src="" border="0"></div>
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Insight to acquire Bullhorn from Vista

Vista Equity Partners has agreed to sell Bullhorn to Insight Venture Partners. No financial terms were disclosed. The deal is expected to close in the fourth quarter of this year. Atlas Technology Group advised Vista on the transaction while Evercore Partners advised Insight. Boston-based Bullhorn is a provider of CRM and operations software for the recruitment industry. PRESS RELEASE BOSTON–(BUSINESS WIRE)–Bullhorn®, the cloud computing company that helps staffing and recruiting organizations transform their businesses, today announced a partnership with Insight Venture Partners to provide the capital for the company’s next phase of growth. As part of the transaction, Insight will be purchasing all shares owned by Vista Equity Partners. Insight is investing in Bullhorn because of the substantial market opportunity for staffing and recruiting as an industry, as well as Bullhorn’s reputation for delighting customers with its award-winning platform and organizational capacity around the globe. The investment will be
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Dow 23,000 Hats For Everyone!

The weekly Market Update is posted and includes the following; The yield on the Ten Year US Treasury Note jumped on Friday to close at 2.38% which is as high as it has been since early July. Barron’s cited a strategist from JP Morgan who opined that based on this point in the cycle, yields should be higher. He noted distortions that have been created by QE and other extraordinary stimulative efforts as being a “weight” on yields. Another fund manager is worried about the flattening trend warning of a recession in the offing. Actually, in the last month the curve has steepened but of course the trend for 2017 has been to flatten as the FOMC has hiked rates. Should the yield curve actually invert we will certainly bang the recession drum here, it won’t be different this time, but until that time it is important to remember
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Cisco to buy BroadSoft for about $1.9 bln

Cisco Systems said it will buy publicly listed BroadSoft for about $1.9 billion, or $55 a share in cash. The acquisition has been approved by the boards of both companies. BroadSoft’s hosted offerings target small and medium-sized businesses and complement Cisco’s sales to large enterprises. The acquisition is expected to close during the first quarter of calendar year 2018.