CIT Provides $60 Million Financing for Condo Project

NEW YORK — CIT Group said that its Real Estate Finance business has provided a $60 million senior secured construction loan to Edward J. Minskoff Equities, Inc. (Minskoff Equities), a privately held real estate investment and development firm. The money will be used towards the development of a six-story, seven-unit luxury for-sale residential condominium located at 17 Jane Street in NYC’s West …

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E-Trade Adds 21 ETFs to Company Offerings

NEW YORK — E*TRADE Financial Corporation has made a significant expansion of its commission-free exchange-traded fund (ETF) lineup: Since March 1, 2017, E*TRADE has added 21 commission-free ETFs from seven providers to its Commission-Free ETF Program. With these additions, E*TRADE now offers a total of 149 non-proprietary, commission-free ETFs—one of the largest offerings in the industry. New additions include ETFs from ACSI …

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Bread Secures $126 Million Financing


NEW YORK — Bread, a consumer purchase finance technology company that builds customizable payment solutions for online merchants, has completed $126 million of equity and debt financing. Menlo Ventures led the equity round, with participation from Bessemer Venture Partners, RRE Ventures, and others.  The debt facility was provided by Victory Park Capital. Bread improves conversion and raises average order …

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Stellex Capital Closes $870 Million Private Equity Fund


NEW YORK & LONDON — Stellex Capital Management, a middle market private equity firm with headquarters in New York and an office in London, announced the successful closing of its debut fund, Stellex Capital Partners LP, with total commitments of $870 million, exceeding the Fund’s $750 million target. Stellex has a flexible investment strategy that …

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Hilton to Dump Citi Cards For American Express


Hilton, one of the world’s largest hotel companies, announced that American Express has been selected as the exclusive issuer for Hilton Honors co-branded credit cards in the United States, beginning January 1, 2018. Hilton had been offering co-branded credit cards with both Citi and American Express. The announcement follows a comprehensive and competitive bidding process …

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TIAA Completes Deal for Everbank


NEW YORK — TIAA, a leading financial services provider, announced has completed its acquisition of Florida-based EverBank Financial Corp (NYSE:EVER) and its wholly owned subsidiary EverBank. The transaction was originally announced August 8, 2016. The deal significantly expands TIAA’s existing retail banking and lending products and complements the company’s full suite of retirement, investment and …

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E*Trade Reports April Activity

NEW YORK — Discount brokerage E*TRADE Financial Corporation released its Monthly Activity Report for April 2017. Daily Average Revenue Trades (DARTs) for April were 196,022, a three percent decrease from March and a 23 percent increase from the year-ago period. Derivatives represented 31 percent of DARTs during the month. The Company added 38,904 gross new …

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American Express Launches Rewards Card for NFCU


Navy Federal Credit Union and American Express have partnered on a new rewards credit card for Navy Federal members: the Navy Federal More Rewards American Express Card. This new credit card will be accepted on the American Express network and will be available this fall. “The More Rewards Card enhances our rewards card program overall,” …

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Nasdaq to Launch Venture Investment Program


NEW YORK — Nasdaq (Stock:NDAQ), which operates the Nasdaq stock exchange, is launching its own venture investment fund. Nasdaq Ventures will be dedicated to investing in and partnering with unique financial technology (fintech) companies worldwide. The program’s main objective is to identify and collaborate on new technologies and groundbreaking services and solutions which align with …

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JPMorgan Tops List of Financial Employers


NEW YORK — JP Morgan is the preferred employer of finance professionals globally, taking first place in the eFinancialCareers Ideal Employer rankings for 2017. Goldman Sachs, Google, Morgan Stanley and Citi complete the eFinancialCareers Ideal Employer Global top five. eFinancialCareers, a job hunting website for the financial industry, surveyed 5,983 finance professionals globally during Q4 2016 …

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JPMorgan Chase Buying MCX Payments Technology

NEW YORK — JPMorgan Chase has agreed to acquire MCX’s payments technology to help expand Chase Pay, the mobile and digital wallet for Chase customers. MCX, a network of America’s largest merchants, was the premier launch partner for Chase Pay in October 2015. The transaction is expected to close in the coming weeks. MCX’s members …

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KKR Closes $13.9 Million Private Equity Fund

NEW YORK — Global investment firm KKR has announced the final closing of a $13.9 billion fund focused on investments in private equity-related transactions in the United States, Canada and Mexico. The KKR Americas XII Fund will include $1.4 billion in capital from KKR alongside investors through the Firm’s balance sheet and employee commitments. KKR’s …

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NBCUniversal Invests $500 Million in Snap


NBCUniversal, a division of Comcast, has invested $500 million in Snap Inc. during its IPO as part of a strategic investment and partnership reports CNBC. Snap is the parent company of Snapchat, a popular social media app with over 150 million users. The investment has been a good one so far. Since going public at …

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