Personnel
Mairs & Power fund management changes
Mairs & Power, St. Paul, named Kevin Earley as the lead manager and Robert Thompson as a co-manager of the Mairs & Power Balanced Fund.
Ronald Kaliebe, who was lead manager of the Balanced Fund since 2013, will become a co-manager of the fund as part of a planned transition to his retirement in June 2019. Kaliebe joined Mairs & Power in 2001 and was named co-manager of the fund in 2006.
Earley has been a co-manager of the Balanced Fund since 2015 after joining the firm as vice president, equity analyst and investment manager in 2013. Thompson joined Mairs & Power in 2016 after 13 years at Advantus Capital Management.
The Mairs & Power Balanced fund, established in 1961, has $985 million in assets under management as of Dec. 31.
In addition, the firm announced it has hired Patrick Farley as a vice president and investment manager.
Mergers and acquisitions
Inovalon closes on deal for Ability Network
Inovalon Holdings Inc., Bowie, Md., has closed its $1.2 billion acquisition of Minneapolis-based Ability Network Inc.
Ability Network is a provider of information technology services to health care companies. The aggregate purchase price included $1.1 billion in cash and $100 million in stock.
Debt and equity
HelpSystems signs recapitalization deal
HelpSystems, Eden Prairie, has signed a recapitalization agreement with HGGC, a middle-market private equity firm based in Palo Alto, Calif.
![Attendees of Frostbike made their way through the convention Saturday at the Quality Bike Products campus in Minneapolis. ] (AARON LAVINSKY/STAR TRIBUNE) aaron.lavinsky@startribune.com Frostbike 2016 was held at the Quality Bike Products Campus on Saturday, Feb. 27, 2016 in Bloomington, Minn.](https://arc.stimg.co/startribunemedia/NH2BSHB74ND2V6GF2G2HI5X4MM.jpg?&w=252&ar=3:2&fit=crop)
