San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

County Retirees’ Group Cedes All Investment Decision-Making

Finance: Salient Praised For Better Returns; Board Extends Contract to 2019The county’s employee pension fund, which exceeds $10 billion as of June, is now totally controlled by its outside chief investment officer, Salient Partners of Houston.

By Mike Allen July 18, 2014 2:42 p.m.   $$ Share
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Portfolium Funding Is Part of EvoNexus' Recent Successes

EvoNexus, the incubator of CommNexus, the area’s nonprofit trade group for the high-tech industry, said one of its portfolio companies Portfolium recently closed a $900,000 seed round of investment from the Tech Coast Angels and other San Diego-based investors.

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'Mister A’s Building’ at Bankers Hill Gets New Owners

San Diego-based investment firm BBL Commercial Real Estate and Westbrook Partners of New York City have purchased the Fifth Avenue Financial Center in Bankers Hill, better known locally as “The Mister A’s Building,” BBL officials announced.

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Correlation Ventures Adds 8 New Portfolio Companies in Q2

Correlation Ventures, a San Diego venture capital firm that invests only with other venture firms and has deployed $166 million, said it added eight new portfolio companies during the second quarter of this year, bringing the total number of companies it’s funded to 88.

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San Diego Tech Coast Angels Invests $7.3M in First Half

The San Diego chapter of Tech Coast Angels said its investments in the first half of this year, $7.3 million, matched the total invested in all of 2013.

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La Jolla Pharmaceutical Co. Closes Common Stock Offering

La Jolla Pharmaceutical Co., a therapeutics company focused on unmet life-threatening diseases, announced the closing of its underwritten $56.6 million public offering.

Fitch Ratings Assigns ‘AAA’ Rating to Regional Transportation Sales Tax Revenue Bonds

Fitch Ratings has assigned an ‘AAA’ rating to the San Diego County Regional Transportation Commission’s $350 million sales tax revenue bonds, 2014 series A.

Local Lenders Making More – But Smaller – SBA Loans in 2014

Although San Diego lenders are generally making more loans backed by the U.S. Small Business Administration, loan amounts have declined for most of this fiscal year, according to the latest report from the SBA’s San Diego district office.

Firm’s Data in Demand With Big Financial Cos.

FINANCE: BrightScope’s Growth in Revenue, Clients Leads To Increase in Hiring

BrightScope, a San Diego startup that began rating company 401(k) plans, is still rating those plans and financial advisers, but it is now making more money from all the data it’s collected, and signing up bigger clients.

Fish Market to Lure Visitors to Waterfront

ECONOMY: It May Boost Commercial Fishing, Tourism

Local operators and government officials believe a fresh-seafood market debuting soon on the downtown San Diego waterfront could be a good first step toward restoring what was once a much more vibrant regional fishing economy.

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BioMed Realty Signs Tenant Bristol-Myers to Additional Space and Lease Extension

Bristol-Myers Squibb has signed a 10-year lease with San Diego-based BioMed Realty Trust Inc. for about 61,000 square feet of additional laboratory and office space at BioMed’s Woodside Technology Park, a life science industry campus in Redwood City.

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Recovery In Their Sites

Economy: Construction Jobs Rise as Projects Get Going

Work at Kaiser Permanente’s new hospital in Kearny Mesa is going smoothly — so well that the expected completion of the $900 million project was moved up several months to March 2016. And that progress is reflected in the construction employment levels on the site.

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Realty Income Reports Gains in Revenue, Income for Second Quarter

Escondido-based Realty Income Corp. saw revenue rise 22.6 percent from a year ago in its second quarter ending June 30, reaching $228.6 million.

San Diego Private Bank Reports Q2 Results

San Diego Private Bank reported second quarter net income of $594,000, up from $253,000 for the like quarter of 2013 when the results were affected by the bank’s merger with Coronado First Bank.

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Qualcomm Reports Record Revenue

Qualcomm Inc. reported net income of $2.24 billion on revenue of $6.81 billion during its third quarter, which ended June 29.

La Jolla Pharmaceutical Prices Stock Offering

La Jolla Pharmaceutical Co., a developer of therapeutics targeting unmet life-threatening diseases, announced a price of $10.50 per share for a planned underwritten stock offering of 4.8 million shares of common stock.