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Ridgewood NJ, Millennials don’t necessarily think like their parents when it comes to their spending habits, how they raise their kids, or even their outlook on life.
Continue reading HOW ARE MILLENIALS INVESTING THESE DAYS? – (NOTHING LIKE THEIR PARENTS)
JULY 8, 2015 LAST UPDATED: WEDNESDAY, JULY 8, 2015, 1:21 AM
BY KATHLEEN LYNN
STAFF WRITER |
THE RECORD
Private-equity firms poured more money into New Jersey companies last year, investing $16.7 billion in 104 companies, up $4.1 billion from the previous year.
New Jersey ranked ninth among the states for the amount of private equity invested, according to the Private Equity Growth Capital Council’s annual investment report.
“The rise in private equity investment in New Jersey and nationwide reflects a positive economic climate and the growth of private equity as an industry,” said James Maloney, a spokesman for the private equity council.
Among the most notable private-equity deals in New Jersey last year was a $90 million investment by Goldman Sachs in AvePoint, a Jersey City technology company. In addition, Onex Corp. became an equity partner in York Risk Services Group, a Parsippany-based risk management company, and General Atlantic Partners took a stake in CitiusTech Inc., a Princeton-based health care technology company.
In a more recent deal, Craftmaster Hardware of Northvale, which provides security hardware and locksmith supplies, was purchased this year for an undisclosed amount by Boston-based private-equity firm Capital Resource Partners.
Private-equity firms invested more than $486 billion in U.S.-based companies last year, increasing investment by $43 billion over the previous year. Nationally, private equity investors put more than half their money into two sectors, business services (29 percent) and consumer goods (22 percent). Information technology, energy, health and financial services accounted for most of the rest of the investments.
California ($56 billion), Texas ($52 billion), New York ($43 billion), Florida ($34 billion) and Illinois ($29 billion) led the states in the amount of private equity investments.
