Arts
The Segerstrom Center for the Arts in Costa Mesa appointed four members to its board of directors. Serving three-year terms are Daniel Callahan, founder and principal of Santa Ana law firm Callahan & Blaine; Mark Chan, chief operating officer at Hong Kong real estate developer Wincome Group; Wendy Hales, executive director of Costa Mesa-based Argyros Family Foundation; and John Phelan, formerly with Capital Group Cos.
— Subrina Hudson
Education
The Art Institute of California-Orange County in Santa Ana, an Argosy University campus founded in 2000, will close. The school plans to lay off 161 people, effective Aug. 28, according to a notice filed with the state by parent company, Los Angeles-based missionary organization Dream Center Education Holdings LLC. The school’s website says it’s no longer accepting applications and is referring students to its North Hollywood and San Diego campuses and online offerings. Its total enrollment is 771 students, according to the National Center for Education Statistics.
— Subrina Hudson
Finance
Newport Beach-based Carrick Capital Partners said it made an $80 million, Series A minority investment in New York-based Exiger LLC, which uses artificial intelligence to help international corporations comply with regulations. Exiger was co-founded by Mike Cherkasky, who became well-known on Wall Street as chief executive of insurance giant Marsh & McLennan Co. As a prosecutor, he took mobster John Gotti to court and lost. The Exiger chairman is current overseer of HSBC Holdings PLC’s money-laundering prevention.
— Peter J. Brennan
Hospitality
A Pendry Hotel planned for a 2020 opening in Somerseet County, N.J., will include 24 for-sale residences. Pendry Natirar will offer homes up to 4,000 square feet for $1.4 million to $3 million. The 90-acre property’s 33,000-square-foot manse—finished in 1912, recently restored and once owned by King Hassan II of Morocco—will be developed into a 66-room luxury hotel.
— Paul Hughes
Insurance
Newport Beach-based Alliant Insurance Services Inc., the largest OC insurance broker, said it acquired Austin, Texas-based CLS Partners, which employs more than 50 people. Terms were undisclosed. CLS, founded in 2008, uses a methodology rooted in data analysis rather than a “traditional brokerage model,” the companies said. Employee-owned Alliant reported 2017 sales rose 14% to $1.1 billion. Last year it was the 12th-largest insurance broker in the world, according to A.M. Best Co.
— Peter J. Brennan
Sports
Budapest-based International Weightlifting Federation moved its 2019 youth world championship from Anaheim to Las Vegas, a news report said. Anaheim nabbed the competition last year. The previous fall, destination marketer Visit Anaheim stepped in to host IWF’s overall world championships at Anaheim Convention Center after the host Malaysian city backed out. A USA Weightlifting executive cited Las Vegas food options and its capacity to add competition days and schedule the international youth event alongside domestic Under-25 championships, as reasons for the switch.
— Paul Hughes
Technology
Andy Hinrichs departed as chief executive of AutoGravity in May. He co-founded the Irvine-based fintech company in 2016. A company spokeswoman didn’t immediately return messages to explain the departure and say who’s now in charge. Hinrichs’ LinkedIn page said he left the CEO role in May. He built AutoGravity into an app that connected 2 million users with car dealers and financial firms; it’s generated $2 billion in financing requests.
— Subrina Hudson
ESPN and Disney XD and its family of networks will broadcast matches of Blizzard Entertainment Inc.’s Overwatch League. The exclusive, multiyear agreement went live last week for the league’s inaugural playoffs, which conclude July 27 and 28. The league, established in January, is based on the Irvine-based publisher’s first-person shooter hit “Overwatch.”
— Chris Casacchia
Santa Ana-based Iteris Inc. will synchronize traffic signals and make other timing and infrastructure changes at 59 intersections under a three-year, $3.5 million contract with the Orange County Transporta- tion Authority. The project covers a 16-mile stretch of Brookhurst Street in Anaheim, Fountain Valley, Fullerton, Garden Grove, Huntington Beach and Westminster that gets about 38,000 cars rolling over it daily. Iteris provides sensors and systems for transportation and agriculture uses.
— Paul Hughes
