In its debut deal, private equity firm Observer Capital has acquired SourceMedia Inc., the publisher of Mergers & Acquisitions, American Banker, the Bond Buyer, Financial Planning and Accounting Today, from PE firm Investcorp, for undisclosed terms.
"We believe the B-to-B market is poised for growth, particularly with the application of new digital technologies and we see SourceMedia as an ideal platform from which to pursue that growth," says Joseph Meyer, who founded Observer Capital in 2013. The firm focuses on middle-market private equity and special-situations investments. Meyer serves as CEO of Observer Media, the holding company that publishes the New York Observer, which was bought by real estate investor Jared Kushner, Meyer’s brother-in-law, for $10 million in 2006. Meyer previously worked for hedge fund Elliott Management and MSD Capital.