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Raleigh Triangle Local and Business News

  • A new hedge fund with Duke University roots raises $7.5 million

    A new Raleigh investment fund with Duke University roots has closed on $7.5 million, according to papers filed Thursday with the U.S. Securities and Exchange Commission.

    Cresciente Global Equity Fund lists its address as a home in Raleigh’s Brier Creek community. The fund attracted four investors – putting in a minimum of $500,000 each – according to the securities filing. The first sale happened Jan. 1.

    Geoffrey Keegan, manager of new investment outlet Creciente Partners Investment Management,…

  • Data breach confirmed by parking service that shuttles to RDU

    Two airport parking services have confirmed data breaches this week, including one that shuttles travelers to Raleigh-Durham International Airport.

    Kentucky-based OneStopParking provides airport parking at hotels near the airport – such as the DoubleTree Hilton and the Microtel Inn and Suites – and shuttles you to and from the airport. It operates at various locations, including Raleigh.

    Atlanta-based Park ‘N Fly, while not operating at RDU, does operate out of Charlotte.

    Both have confirmed…

  • This Triangle drug research group raised $50M and will look to up its M&A activity

    Morrisville-based Clinipace Worldwide raised $50 million from investors – and the pharmaceutical research company plans to put that money to work through more acquisitions.

    It’s a strategy Clinipace and its CEO Jeff Williams have employed for the past few years to grow at almost breakneck pace. The company has a three-year growth rate of 348 percent and added more than 450 jobs since 2012.

    That said, Williams highlights organic growth as well. After all, Clinipace is now home to 700 global staff,…

  • North Carolina auto sales improve 3 percent in 2014, fueled by truck sales

    Sales of new cars and trucks among auto dealers in North Carolina grew 3 percent in 2014 to a decade-high of 451,000 vehicles sold, but the rate of growth lagged behind the national average.

    According to data from the North Carolina Automobile Dealers Association, the sale of domestic cars in North Carolina was down 2 percent compared to the year prior while the sale of imported trucks was up 7 percent. The sale of domestic trucks was up 2 percent and import car sales were up 4 percent.

    On a national…

  • ​Durham's Drug Safety Navigator acquires Chapel Hill's Five Oaks Pharm

    Durham-based Drug Safety Navigator acquired Chapel Hill’s Five Oaks Pharm, expanding its drug safety services.

    When companies test new drugs or therapies in humans, there are sometimes adverse events. Indeed, no drug is completely free of side effects. When these events happen, Drug Safety Navigator’s experts help drug developers assess what happened, collect the appropriate data and fill out reports to submit to regulatory bodies like the Food and Drug Administration.

    Five Oaks Pharm has a speciality…