August 2026 Business Magazine

WhatMattersNow WithDLAPiper

WHOOWNSSPORTS?

Investmentinsportsteams,leagues,stadiums,andadjacentbusinesseshasexpandedbybillions, becomingoneoftheworld’smostattractiveassetclassesforinstitutionalinvestorsandprivatecapital. InthisinauguralepisodeofWhatMattersNow,DLAPiper’sRichardRubanoandRaneshRamanathanand VishalGandhiofAresexploretheforcesfuelingthattransformation.Fromsoaringfranchisevaluations andtheemergenceofcreativecapitalstructurestoinvestmentopportunitiesinwomen’ssports,global leagues,andsports-adjacentrealestate,theyexaminehowinstitutionalcapitalisreshapingthebusiness ofsports–andwhereinvestorsarelookingnext.Thiswide-rangingconversationfocusesonthemoney, innovation,andmarketdynamicschangingthefutureofthegame

Proposed RulesCould Decrease Reporting Requirements for Public Companies

TopAccountingand Business Advisory Firms in LosAngelesCounty

TopAccounting and Business AdvisoryFirms in Orange County

Space Force Launches ‘Space Based Sensing &Targeting’ Portfolio

24 IndustrialMarket Builds Positive Momentum DespiteEconomic Uncertainty

29 WhatC-Suiters areAsking (or Should be Asking) Their HR TeamsToday

HighlightsofRecent ExecutiveHires and Climbs

The Biggest VC Raises of theMonth

TopDeals From Around Southern California

2026 Private Equity andM&A Visionaries

From the LosAngeles Times Newsroom

Dear Readers,

Welcometothe August2026 edition of Business by LA Times Studios,spotlightingthe agility andtechnologicalbreakthroughs driving Southern California’s business ecosystemforward.

In this issue,welook into Saviynt, the El Segundo-based identity securitycompanynavigating the shift to an AI-driven workforce. Its newest solution, “Zuma,”isbuilt to manage theidentities of AI agents rather thanhuman employees–aresponse to how companies are nowrunning dozens, sometimes hundreds, of AI agents perworker,witheach needing the kind of oversight and access controls once reserved for people

This magazine is also packed with need-to-know business insights,including:

•Views From the Top: Lifestyle brand founder Lauren Riihimaki and attorney Eric Perlmutter-Gumbiner unpack how creatorsare evolving from earners to true enterprise CEOs in 2026.

•Insurance Under Fire: Southland businessesare adopting IoTmonitoring, privatefirefighting services and captive insurance structures to stay insurable amidst California’s commercial wildfire crunch.

•Predictive AI in ProfessionalServices: Exploring howlocal lawand accountingfirms are using AI-driven predictive advisory and litigation analyticstopreempt corporate risks rather than react to them.

•The BusinessofSports:Inside theearly race for LA28 Olympicsponsorships and why forward-thinking brands arelocking in category exclusivityyears ahead of theGames.

Plus the Q2 CommercialRealEstate Outlook for Southern California,aswellasthe TopAccountingand Business Advisory Firms in LA and OC,and the 2026 PrivateEquity and M&A Visionaries

Whether youare navigating marketshifts, scalingenterpriseAIor planninglong-term growth, we hope this issueprovides valuable foresightfor your journey. LA Times Studios Business

DigitalVersion: latimes.com/b2b/august-2026

Warm regards,

Anna Magzanyan PresidentofLATimes

Studios annamagzanyan

Anna Magzanyan

PresidentofLATimesStudios &NantGames

Flora Mekari Director,Content

David Chee Strategist, Content

Andrew Curtis Senior Strategist, Social MediaContent

Flavio Gomez Strategist, Social Media Content

CONTENT

CONTRIBUTING WRITERS

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Sara Kitnick Senior Strategist, Content

AlanLaGuardia Senior Strategist,Content

AJ Moutra Consultant,Research

Kevin Spencer Senior Strategist, Content

Devon Belcher ContributingWriter

David Nusbaum Contributing Writer &Research Consultant

Paul Williams ContributingWriter

Helya Askari Vice President, Sales

helya.askari@latimes.com

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JordanMoss Executive,Sales jordan moss@latimes.com

MaximillianoEnciso Director,Art Production

MARKETING CREATIVE SERVICES & ADVERTISING OPERATIONS

Dave Novotney PrepressSpecialist

Kevin Chau Designer

LarryTomoyasu Designer

Sandra Carlos Dir., Client Servicesand Systems Advertising

MikeKechichian Executive VP,ClientSolutions

Katie Fillingame Director,Partnerships

David Purdue Director,Client Solutions

Bella Martinez Senior Strategist, Marketing

JuliaJones Analyst, Marketing

Leah McClanahan Analyst, Marketing

AshleySipos-Phelan AudienceMarketingSpecialist

Ellen Varvarian Senior Analyst, Marketing& Planning

Matthew Franco Creative Design Manager

Caroline Verbica Designer

Helen Chang Director,Program Management

PROJECT & PRODUCT MANAGEMENT

Karren Adamyan Manager, Projects

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AColumnof Advice, Insights and Best Practices for Business Leadersfrom Business Leaders

OBSERVATIONS ON THE CREATOR ECONOMY

In 2026, the creator economy has matured into apowerful, multifaceted business ecosystem –where influence is currency, intellectual property is leverage and creators are CEOs in their own right

Lauren Riihimaki, founderofthe lifestyle brand LaurDIY, shared firsthand insight into building asustainable brand, diversifying revenuestreams and staying authentic in an algorithmdriven world.

Eric Perlmutter-Gumbiner,partner in the Corporateand CreatorEconomy Groups at Greenberg Glusker, unpackedthe legal, financial and structural strategies creators must embracetoprotect andscale their businesses.

Q: What are the biggest financial and legal misconceptions creatorsstill haveaboutrunning theirplatforms as businesses?

Perlmutter-Gumbiner Many creators still think like earners, not operators. They treat income like apaycheckratherthanbusiness revenue. The biggest misconception is equating“cash in”with profit, without reserving for taxes, chargebacksand refunds,production costsand the real possibility of asudden dip driven by platform changes. Arelated issueispulling cash outfor short-term lifestyle upside instead of reinvesting into thebusiness:team, systems, owned IP,owned channels and product. That reinvestment is what builds durable, transferable equity value over time.Onthe legal side, creators often assume atemplate is “industrystandard,”soitmustbe safe. In reality,itcan quietly reallocateriskthrough expansive usage rights,exclusivity,indemnities and vague approval or revision

language.Entity formation matters, but it is not aforce field.Without cleancontracts, separate finances, appropriate insurance and basic governance,the liability shield is thinner thanmostpeople expect.

Q: How has the creator economy evolvedfrom a“side hustle” model to astructured smallbusiness categoryin2026?

Riihimaki Having built my career as afull-time creator over the past decade,I’veexperienced the evolution directly. Ithink there are three keyshifts thathave led to the progression from “side hustle”tosmall business: monetization, infrastructure and audience behavior. Brands areallocating and deploying serious, recurring budget into their advertising spends. Creator marketing is no longer considered an “experiment” or ahigh-risk investment –creators haveproven to drivereal ROI and the industryhas takennotice.Just as importantly, the infrastructure has caught up Creators now have accesstoa full ecosystem of platforms, tools and servicesthat support everything frommonetization to operations, making it possible to run and scale abusiness, not just create content. And lastly, theaudience.Attention is fragmented, andinaworldof content overload and AI-slop, people are seeking more specific andauthentic, niche content, allowing creators to buildhighly engaged communities around very focused interests.

Q: Are we seeing more creators formalize as LLCs or corporations? What’sdriving that shift?

Perlmutter-Gumbiner Yes. As creator revenue becomes more predictable and multi-channel, more creators are formalizing to manage risk, taxesand day-todayoperations. Thedrivers are practical. First, it limits personal liability as audience sizeand public exposure increase. Second, it creates astructure thatsupports hiring, vendor relationships and clearIP ownership.Third, it signals professionalism to brand partners, lenders andcollaborators.Italso forces separation between personal and business finances, which becomes essential when income streams

BUSINESSES UNDER FIRE

How Southland businesses are surviving California’s commercial wildfire insurance crunch

For decades, commercial propertyinsurance was arelativelystraightforwardline item on acompany’s balance sheet. Business owners shopped around, compared premiumsand renewed policies with littlefanfare.Those days appeartobegone.

Across LosAngeles and much of California,insurers have sharply reduced their appetite for wildfire risk. Non-renewals haveclimbed, deductibles haveincreased and underwriting hasbecome far more demanding. For businesses located near the wildland-urbaninterface– the transitionzone wheredevelopment meets fire-prone vegetation –the challenge is no longersimply finding affordable insurance.Insome cases, it is finding coverage at all

The result is afundamental shiftinhow commercial property owners think about risk. Rather than relyingsolely on insurance policies, businesses areinvesting in technologies, mitigation strategies and alternative financing models thatmakethem more attractive risks in an increasingly skeptical insurance market.

The new reality is simple: Companies must earn their coverage

Insurance Is Becoming aPerformanceBased Product

The commercial insurance market hasbecome significantly moredata-driven. Instead of relying primarilyonhistoricalloss records, underwriters increasingly evaluate thespecificsteps property owners take to reduce wildfire exposure.

That means insurers want evidence.According to one independent commercial broker interviewed for this article, the followingquestions should be considered:

-Has the property created defensible space?

-Are roofs andvents hardened againstembers?

-Isvegetation actively maintained?

-Are emergency response plans documented? -Istherecontinuousmonitoringoffire conditions?

Companies thatcan answer “yes” withdocumentation often receive morefavorable underwriting treatmentthanthoserelying solelyontraditional inspections.

According to Marsh McLennan,commercial insurers are increasingly rewarding measurable

resilience investments, recognizing that proactive mitigation reduces both the frequency andseverity of catastrophic losses. That represents amajor philosophical change from even five years ago

Technology Becomes an Insurance Asset One of the fastest-growing tools helping businesses remaininsurable is the deployment of Internet of Things (IoT)technology. Rather than waiting forsmoketobecome visible,networksof sensors continuously monitor environmental conditions such as temperature,humidity, particulate matter and wind patterns. Some systems can identifyabnormal heat signaturesorsmoke long before they develop into major threats

Companiessuch as Pano AI have installed AI-powered wildfire detection systems throughout the western UnitedStates. Itscameras continuouslyscansurrounding landscapes,using artificial intelligence to detect smoke within minutes and alert emergencyresponders significantly earlier than traditional reporting methods.

Forcommercial propertyowners managing campuses, manufacturing facilities, wineries, utility infrastructure or logistics operations near fire-proneareas,early detection can mean the difference between aclose call and amultimilliondollarloss.

Increasingly, insurers view thesetechnologies as meaningful risk-reduction investments rather than simply operational upgrades.

Private FireProtection Is Moving Mainstream Another trend gaining momentum is the use of private wildfire-defense services.

(SynthArt Studio -stock.adobe.com)

$50,000 to $120,000 in annual operating expenses.For high-severity, hard-to-placecommercial propertyrisks like wildfire insurance, migratingtoacaptive structure canyield premium savings of 15 to 40%byeliminating commercial carrier profit markups,capturing unused underwriting profits and gaining direct accesstothe wholesale reinsurance markets

Large Californiaemployers in industries ranging from healthcare to manufacturing, logistics, hospitality andhigher education areincreasingly explored captivestructures as traditional commercial coverage becomes more restrictive

High-valuecommercial properties –including corporate campuses, hotels, vineyards, healthcare facilities andindustrialsites–are contracting with specialized wildfiremitigation companies that supplement public firefighting resources

Companies such as Firebreak Protection Systems and WildfireDefenseSystems provide services that include:

•Pre-fire vegetation management

•Property-specific wildfire response planning

•Installation of temporary sprinkler systems

•Fire-resistant gel applications

•On-site emergency response teams during activewildfire events

Theseservices do not replace municipal firefighters,but theycan dramatically improve aproperty’ssurvivability while reducing overall claims severity.

Severalinsurersalready partnerdirectly with wildfire-defenseproviders as part of their risk managementprograms, recognizing that protecting insured assets ultimatelybenefits everyone involved. Forbusinesses with facilities worth tens or hundreds of millionsofdollars, these contracts often represent arelativelysmall investment comparedwith the financial consequences of atotal property loss.

Captive InsuranceEnters the Mainstream

Perhaps the most significantstructural change is thegrowing interest in captiveinsurance

Historicallyassociated with Fortune 500 companies, captive insurance arrangements arenow becoming increasinglyattractive to mid-sizebusinesses facing repeated premium increases

(Katleho Seisa/peopleimages.com -stock.adobe.com)

A captive insurancecompany is essentially an insurance company owned by thebusinessit insures. Instead of paying premiums entirely to outsidecarriers,the organization retains part of the riskinternally while purchasing reinsurance forcatastrophic losses.

This approach offers several advantages:

•Companies gain greater control over underwriting standards.

•Premium dollars remain within theorganization rather than leaving as expenses

•Investment income generated by reservefunds stays with the company

•Risk management becomesdirectly tied to financial performance

Fororganizations with multiple facilities,valuable real estate portfolios orspecialized manufacturing operations,captive insurance canprovide long-term cost stabilitydespitevolatility in the broader insurancemarket.

Settingupanin-house captive insurance company typically requires $75,000 to $250,000in upfront formation costs, an initialregulatory capitalinjection of $250,000to$500,000 and

Preparing for aPermanently Different Market

Fewinsurance expertsexpectCalifornia’s commercial wildfire market to soften dramatically anytimesoon

Climatechange,expanding development into fire-prone areas,higher reconstructioncosts and increasinglysevere wildfire seasonscontinue placing pressure on insurers’balance sheets That means propertyowners should expect underwriting to remainhighly selective.

For businessleaders,insurance cannolonger be viewed as aproduct purchasedonce ayear during renewalseason.Ithas become an ongoing operational discipline that touches facilities management,technologyinvestment, finance,legal compliance andcorporate governance

The companies navigating today’sinsurance crunch most successfully are those treating resilience as acompetitiveadvantagerather than an unavoidable expense

They areinvesting in intelligent monitoring systems, hardening their facilities,building detailed mitigationplans, partnering with specialized firedefense providers and–insome cases–creating captiveinsurance companies that givethem greatercontrol overtheir financialfuture

In California’s evolving insurance landscape, the most valuable policy may no longer be theone with thelowest premium. It is theone acompany canstill qualify for.Thatrealityisreshaping commercial realestate strategyacross LosAngeles –and creating anew playbook in which preparation,data andresilience havebecome justas valuable as thecoverage itself. ▐

-PaulWilliams

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THE SCARCITY PLAYBOOK

What B2B companies can learn from the “drop economy”

Scarcity Creates Value

Traditionalbusiness thinking rewards maximizing production. More inventorymeansmore opportunitiestosell.

However,excessinventoryoften becomes discounted inventory.

Once customers learnthat products will eventually be marked down, many simply wait forthe sale Margins shrink, forecasting becomes more difficult and warehouses fill with aging stock. Limited releases reverse this psychology

Instead of producing as much as possible,companies intentionally manufacture only enough to satisfy anticipated demand –orslightly less. The resultisurgencyrather thanhesitation.

Customers buywhen products become available because they areuncertain whether another opportunity will come

For years, scarcity wasviewed as little morethan aclever retail marketing tactic: Away to persuade consumers to line up overnight for apairofsneakers, aluxury handbagorthe latest collectible.Today, scarcity has become oneofthe mosteffective business strategies in themarketplace

From Stanleytumblers that repeatedly sell out to Rolexwaiting lists,Hermès Birkin bags, Taylor Swift VIP ticket packages and limited-edition product collaborations,companieshave demonstrated that consumers oftenvalue what theycannot immediatelyobtain.

But long before scarcity economicsdominated social mediafeeds,Los Angelescompanieswere quietlyperfecting the model.

Streetwear pioneers likeFear of Godand Madhappy transformed limited product drops into cultural events.FairfaxAvenue boutiques builtbusinesses aroundexclusivity. Sneaker resaleshops such as Round Twoproved that constrained supply couldactually increase long-term demand. Even Southern California’sboomingcraftbreweryindustry embracedsmall-batch releases that routinely sold out within hours. Even Hollywood studios have long reliedonlimited-edition vinyl records, collectibles andmerchandisedropstoenergize fancommunities whileavoiding excess inventory.

While these businesses operateinconsumer markets, their underlying strategiesare increasingly relevant to B2Bcompaniesfacing marginpressure, volatile demand anduncertainsupplychains.

Thelesson isn’t aboutcreating artificial hype.It’s aboutdisciplined inventorymanagement, stronger pricingpowerand morepredictable growth.

The modelalso creates an important pricing advantage.When demand consistently exceeds supply, businesses rarely need to discount products. Instead,theypreservepremium pricing while strengthening brand perception.

LosAngeles Has Been Testing the Modelfor Years Southern California hasbecome one of the world’s laboratoriesfor scarcity-driven commerce.The region’s streetwearindustrytransformed product launchesinto carefully orchestrated events. Rather thanmaintaining endless inventory, brands release small collections on predetermined dates, allowing each drop to become amarketing campaign in itself

Craft breweriesthroughout LosAngeles and Orange Countyhave followed asimilarstrategy.Many produce seasonalorexperimental batches available only once.Customers regularly arrivebefore opening hoursknowing that supplies may disappear the same day.

Entertainment companies have embraced the approach as well. Limited vinylpressings, collector’s editions, film merchandise,convention exclusives and anniversary releases allow studios to generate excitement without carrying significantinventoryrisk.

Across these industries, scarcity is less about denying customers accessthancarefully balancing supply withdemand.

The B2B Opportunity

Although manufacturers,software companies, industrialsuppliers and professional service firms don’t sell collectible sneakers,many can adapt the underlying mechanics

Considerenterprise software.Insteadofcontinuously releasing new featuresthroughout the year,

vendors can package majorinnovationsinto scheduled launches withearly-access programs for select customers. Exclusive beta participationincreasesengagement whilegenerating valuablecustomerfeedback before broader deployment

Manufacturerscan introduce limitedproduction runs when launching new equipment. Rather than committing to large-scaleproduction immediately, companies can produce an initial allocationfor keycustomers, allowing demand to validate future manufacturing volumes whileminimizing excess inventory.

Professional service firms canalso applyscarcity. Consulting firms increasingly limit enrollment in executive advisory groups, leadershipcohorts or strategic workshops. Restricting participation elevatesperceivedvalue whileallowingfirms to maintainhigher pricing.

Evenindustrial distributorscan borrow elements of thestrategy by offering limited purchasing windows for specialty products or exclusive customer bundles availableonlyduringspecific periods. The objective isn’t to frustratebuyers –it’stocreate structureddemand while protecting profitability.

(Andrey Popov-stock.adobe.com)

Scarcity ImprovesForecasting

One of theleast discussed benefits of drop culture is operational efficiency.Scheduledproduct releases generate concentrateddemand, making forecastingsignificantly easier.Insteadofcarrying large inventories year-round in anticipation of unpredictable purchasingbehavior,companies manufacturecloser to actual demand.

This approach reduces warehousingcosts, lowers obsolete inventoryand improves cash flow.

ForCFOs, scarcity becomes less of amarketing tactic andmoreofaworking capital strategy.

Businesses thatmaintain leaninventories also become more resilient during periods of economic uncertainty. Rather thanaggressively discounting unsold products during slower markets, they simply produce fewer units.

Exclusivity Strengthens Customer Relationships

Scarcity also changes customer behavior.Instead of transactionalpurchasing, customers become active participants in product launches. B2B companies can replicate this through invitationonly product previews, executivebriefings,

[Continuesonpage33]

SPACEFORCE LAUNCHES‘SPACE BASEDSENSING &TARGETING’ PORTFOLIO

The group focuses on acquiring ready-to-deploy technology in acontinually expanding aerospace and spacedefense focus for the U.S. military

Asthe country marksits 250th anniversary,the military has taken aforward-looking approach to the way that it procures new technologytomeetchallenges in new frontiers,including space

Keytothat development is leveraging innovative acquisitionstrategies to rapidlydevelop new systems. Thedivisionlaunchedits SpaceBased Sensing &Targeting portfolio acquisition group earlierthis year,which is the newest of eight groups focused on acquiring technology. Thesegroupsrepresentamajor change in theway that themilitary is approaching its procurement system and awarding contracts.

“Wedon’t want to miss the moment.Wewant to capture theinnovation andthe new ideas andthe newer capabilities thatare availabletoleverage commercial productionlines to minimizeour nonrecurring engineering. It reduces risk for theSpace Force,”saidColonel RyanFrazier,actingSpace Force portfolioacquisition executivefor Space Based Sensing &Targeting. “We haveawarfighting imperative to deliver at speed andscale.”

One of the sensing and targeting group’s initial contracts was a$4.16-billion award to SpaceX to accelerate the delivery of aspace-based sensing layer designed to trackand target airborne threats globally. It’spart of the development of alower earthorbit mesh network that willbe integrated into the military’scapabilities

Over the next six to 12 months,Colonel Frazier expects that newhardwarewillbelaunched, even

if it’sina prototypephase.Rather than working with aprime contractor andserving in an oversight role, which wouldn’t takeadvantageofinnovation across the industrial base, their planistotakeadvantageof iterativedevelopment –breakingupthe architecture into smallerchunks that canbeawardedcontracts in segments. Multiple companies will compete to providesensortechnology.Thisflexible strategy doesn’t lock in abudget for several years.

Theprocurement hasadapted to the pace of technological advancementsand theever changing waythatconflictsare contestedonthe battlefield. Space Systems Command’slocal legacy began in 1954,when the U.S. AirForce waslooking for alocationfor theservice’s development of space capabilities.Air Forceleadershipfound LosAngeles Countyhad theright combination of atechnically adept workforce and militarypresence for acrash program to developmissiles, launch vehiclesand satellites during theheight of the ColdWar

For thepast seven decades, what wasoriginally formedasthe Air Force’sWesternDevelopment Divisionhas evolvedinto aSpace Forcefieldcommand since 2021. It is headquartered in El Segundo alongside the LosAngeles Air Force Base,and has become the largest organization responsible for acquiringand delivering capabilities to protect the United States’s strategicinterestsinspace,including managing agrowingspace acquisition budget

“Wemakesurethatthe program managers andthe portfolioexecutives have the resources to develop strategies or award contracts –and we develop the workforce,” said Space ForceLt. Gen. Philip A. Garrant,commanderofSpace Systems Command.

Acquisition of technology in space supportsthe command’smission, with more than 150 space launches to deploy technology in 2024and closeto200 in 2025. Furthermore,itpartners with otherorganizations suchasthe NationalReconnaissance Office, National Security Agency,the MissileDefense Agency, DARPA, amongothers, thatalsohave programs to acquire complementary technology

Developing the workforce is key. Lt.Gen. Garrant explained that the El Segundo commandhas agoal of adding up to 100 newemployees per month acrossall functions, including militaryand civilian. Hiring is amajor challengefor employers in Southern California duetothe high cost of living andlimited supply of housing,and theSpace Force is notimmune to thosechallenges. Hiring hasnevertheless been robust even though it hasn’t met its ambitiousmonthly targets. In El Segundo, thebase hasabout 1,300 active-duty personneland more than 5,000 civilians,including contractors

Ultimately, however,the mission remains focused on defending the nation’s interests in space New technology is important and the Space Systems Command hasdrastically reduced time to developnew capabilities. That’sdue to the numerouslocal contractors, many of whom are backed by leading venture capital and private equity firms, who invest in their technology with dual-used commercial and military applications.

“What I’mlooking forideally is to leverage something that workscommercially so thatwe reduce thatdevelopment riskonour end andget the economy of scale.Show us that thecapability works. Prove it on orbit or in atesting environment, not on apitch deck. That’sa compelling case for us to buy it,”said Col. Frazier ▐

-DavidNusbaum

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THE NEW CRYSTALBALL

•Customer paymentbehavior that predicts future baddebt

•Tax planning opportunitiesbefore filing deadlines

Consider agrowingmanufacturing company generating $75 millioninannual revenue

Traditional reporting mightrevealdeclining margins after twoquarters.

An AI-powered predictive model could identify changing supplier costs, slowing customer payments andrisinginventorycarryingcosts weeks or months earlier, giving management time to renegotiatecontracts,adjustpricingorsecure financing before cash flow becomes constrained

AI driven predictive advisory can prevent businesscrises before they ever occur

AI-driven advi ory enables these professionals to analyze

AI enablesthese professionalstoanalyze enormous amounts of structured andunstructured data simultaneously whileidentifying patterns thatwould be nearly impossible for humans to detect alone.

For decades, businesses hired accountants to prepare financial statements, attorneys to resolve legaldisputesand consultants to fix operational problems after they emerged.The modelwas largely reactive: identifyan issue, bringin outside experts,pay the bill and moveon.

Artificial intelligenceis rapidlychanging that equation.

AcrossLos Angeles, accounting firms, lawfirms andbusiness consultanciesare increasingly deployingAI-poweredanalytics to identifyfinancial risks, regulatory compliance issues, litigation exposure and operational weaknesses before they becomeexpensive problems.Instead of simply documenting what hasalready happened, these firms are helping clients anticipate what is likely to happen next

The shift represents one of the biggestchanges in professional servicesindecades. As AI becomes moresophisticated, the firmsdelivering thegreatest value may no longer be the onesthatcomplete work the fastest –but the onesthat preventcostly mistakes from occurring in thefirst place.

From HistoricalReporting to Predictive Intelligence

Traditional professionalservices have always relied heavily on historicalinformation. Accountants reviewed prior financial performance Attorneys analyzed existingcontractsand regulations. Consultants evaluated completed projects to recommendimprovements.

For accounting firms,thatmeans moving beyond reportinglastquarter’s financial results to forecastingcashflow disruptions, identifying unusual spending patterns, spottingpotentialfraud and predicting taxliabilities months beforethey become problems

Legal firms are using AI to analyze contracts, monitor changing regulations, identifyclauses that increase litigation riskand alert clients when compliance obligations arelikely to change

Consultingfirms areintegrating financial,operational,workforce, supply chainand market datato predict business disruptions beforethey materially affectperformance

The result is anew categoryofprofessional services often described as predictiveadvisory.

Accounting Firms BecomeStrategicForecasters

LosAngeles is home to some of thecountry’s largest accountingfirmsaswellasathriving ecosystem of regional CPApractices serving middle-market businesses.

Many now offer AI-assisted financialmonitoringthat continuously reviews accounting records insteadof waiting for month-endoryear-end reporting.

For example, AI systemscan identify:

•Cashflow trendsthat indicate future liquidity problems

•Vendor payment anomalies that suggestfraud or internalcontrol weaknesses

•Inventory patterns that couldsignal supply chain disruptions

Avoiding ashort-term liquiditycrisiscan easily save hundreds of thousands–orevenmillions –ofdollars in emergency financing costs, lost production or delayed expansion plans.

AIIsChanging the Practice of Law Lawfirmsare also movingbeyond reactive legal advice.

Contract analysishas becomeone of themost practicalapplications of AI.

Ratherthan reviewing thousands of contracts manually, AI platforms canrapidly identify inconsistent language,unfavorable indemnification clauses, automaticrenewalprovisions, missing insurance requirementsand compliance risks acrossanorganization’s entire contract portfolio

For companies operatinginCalifornia –where employmentregulations, privacy lawsand environmental rulescontinuetoevolve –continuous monitoringcan significantly reduce legalexposure

Employment attorneys increasingly use AI to analyzeworkforce policies against changing labor regulations, helping employers identify outdated handbook language or payroll practices before they become the subject of costly litigation.

Similarly, privacyattorneys can monitor changes involving theCalifornia ConsumerPrivacyAct (CCPA), emerging AI governancerequirements and industry-specificregulations, allowingclients to make policy adjustments before regulators or plaintiffs’attorneysidentify deficiencies

Even avoidingasingleemployment lawsuit can save businesses hundreds of thousands of dollars in legalfees, settlement costs, management time and reputational damage.

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LAWYERSEMBRACE LITIGATION ANALYTICSBUT STILL RELYON HUMANJUDGMENT

California lawyers say litigation analytics andartificial intelligence improve efficiencyand litigation strategy but cannot replace attorney judgment, courtroom experience or thehuman decisionmakingofjudges and juries

Aslitigation analytics and artificial intelligence become increasingly embedded in legal practice,some California attorneys say that while the technology improves efficiency and helps inform decisions, it does not replace the experience and judgment needed to advise clients and navigate cases.

That sentiment is reflected in results from LexMachina’s “2026Impact of Legal Analytics Survey,”which the legal analytics platform releasedlastmonth.

The nationwidesurvey of 207 law firmprofessionals found unanimous agreement thatlitigation analytics add value to their legal practice,upfrom just over 95% ayear earlier

According to LexMachina, respondents said they usethe data tools to assess case exposure,evaluate judges andopposing counsel, strengthen briefsand motions,and demonstrate expertise to clients, reflecting thetechnology’s growing role in everyday legal work.

However,some California practitioners interviewed by the Daily Journalcautioned thatanalytics remain only onepiece of the decision-making process, particularly as firms increasingly incorporate artificial intelligence intoeveryday legalwork.

“The biggest limitation is litigation analytics are not acrystal ball,and every case is different,”said NathanielE.Haas, aLos Angeles partner at Watstein Terepka LLP

While analytics help lawyers makemore informed decisions, he noted, “they can never tell you how ajudge is going to ruleinyour case”oreliminate the uncertainty that comeswith litigation.

According to the surveyresults, among firms with more than50attorneys, 86% of respondents said they use litigation analytics in practice,while 88% reported clients now expect attorneys to useanalytics on their matters.

Adoptionremains lower among firms with fewer than 50 attorneys, where44% reported using litigation analytics,but everyrespondent in thatgroup likewise agreed the tools addvalue

Adam Masarek, aBoston-based attorneyand legal dataexpertwith LexMachina, said those figures continue atrendthe company hastracked since first surveying legalpractitioners in 2018.

Theearliest surveyfound just 38% of respondents used litigation analytics in their day-to-day work, he said. In recentyears, thatfigure has generally ranged between 60%and 70%.

Masarek said this year’sbiggest change involved firms seeking to integrate litigation analytics

TheInnovationFlywheel: WhyCapital KeepsFinding Irvine

Whydosomecommunities continue to produce successful companieswhileothers struggle to create even one?

It’sa question investorsask every day

Capital hasnever simply chased good ideas.It follows places where good ideas become great companies –and where great companies helpcreate the next generation of entrepreneurs

That’swhy Irvinecontinuestoattract attention far beyond Southern California.

The story isn’t about one successful company. It’sabout an ecosystem that repeatedly createsthem.

The strongest innovation economies don’t rely on asinglebreakthrough or one extraordinary company. They developanInnovation Flywheel –acycle in which research generates discovery, universities educate exceptionaltalent, entrepreneurs transform ideas into companies, investors accelerategrowth, successful founders become mentors and investors and experienced leaders help launch the next generation of businesses. Every turn of the flywheel strengthens the next.

Today, Irvine is home to oneofthe nation’s leading public research universities, globally recognized companies such as Edwards Lifesciences, Johnson &Johnson MedTech, Rivian, Field AI, Karma Automotive and an expanding concentration of businesses in artificialintelligence, MedTech, aerospace and defense, advanced manufacturing,software and clean technologies. Individually, these are impressiveassets. Collectively,theycreatesomething far more valuable: an environment where innovation has become arepeatableprocess

Consider what hashappened over the pastseveral decades at Edwards Lifesciences.

Thousands of engineers, scientists, clinicians, andbusinessleaders have builtcareers there.Manywent on to launch companies, leademerging ventures, invest in entrepreneurs,and mentor the next generation of innovators. At the same time,Edwardshas partnered closely with UC Irvine to support research, internships and workforce development that continuallyfeeds new ideas andnew talent into the regional economy

That’sthe Innovation Flywheel in action.

“Capital doesn’t flowbyaccident, it follows an interconnected, highly collaborative community,”said Tony Crisp, President of Tech Coast Venture Network.“In Irvine,we’ve builta seamless‘Founders Journey’ pipeline where TCVN’s40-year legacyof mentoring over 3,000 early-stage founders connects directly into top networks likeTCA Venture Group,which has deployed over $280 million into 540+ startups, and scales through partnerslike Octane OC, whose LaunchPad portfolio has driven $12.1 billion in capital and created over 45,000 high-paying jobs. When mentors, angelinvestors and enterpriseaccelerators choose collaboration over competition, the Innovation Flywheelbecomes unstoppable.”

The strength of Irvine’s innovation ecosystem is alsoevident in the depthof its corporate community Companies such as Terran Orbital, Rivian, Blizzard Entertainment,

“The true product of Irvine’s innovation economy isn’t startups. It’s the repeated ability to produce companies that scale.”

CitysideFiberand agrowing number of AI, aerospace,softwareand medicaltechnology firms do far more than createjobs. Theydevelop leaders, strengthensupply chains, attract investment, and become the training ground fortomorrow’sentrepreneurs

PerhapsIrvine’s greatest competitive advantageisn’t any singleinstitution. It’sthe way those institutions reinforce one another

UC Irvine fuels discovery, talent, and commercialization. Anchorcompanies provide leadership,experience,and opportunity. Organizations including the Greater Irvine Chamber,Octane, Tech Coast Venture Network, the OC Startup Council, entrepreneur support organizations and the CityofIrvine strengthen the connective tissue –bringing together business, academia, investors, andcivic leadership around shared economic priorities.

In Irvine,collaboration has become economic infrastructure

As companies evaluatewhere to invest, expand, relocate, or acquire businesses,they increasingly look beyond operating costs or available office space. Theyask whether aregion canconsistently produce talent, foster collaboration, cultivate leadership,and create opportunities forlong-term growth. Increasingly, Irvine answers yes.

Southern Californiahas become one of the world’s leadingcenters for innovationacross healthcare, advancedmanufacturing, aerospace, software,and artificial intelligence Within that broader landscape,Irvine hasdistinguished itselfasa place where companies moveefficiently from research to commercialization–and from startup to enterprise.

“A strong research universityiskey to most innovation hubs around the

world,”said Ian O. Williamson, Dean of the UC Irvine Paul Merage School of Business.“UC Irvine conducts more than $600 million in externally funded researcheach year,generating intellectual propertyready for commercialization. In addition, the universitygraduates thousands of highly skilled individualsannually, creating arobust workforce for local companies.”

The Innovation Flywheelbelongs to no single institution. It grows stronger everytime universities, entrepreneurs, investors, established companies, business organizations, and civic leaders choose collaboration over competition and long-term thinking over short-term gains.

“The most successfulbusiness communities don’t emerge by accident,” said Dave Coffaro,President &CEO of the Greater Irvine Chamber.“They evolve through years of collaboration among educators, entrepreneurs, investors, business leaders, and civic institutions committed to long-term competitiveness. Irvine’sgreatest strength isn’tsimply the companies we’ve built –it’sour abilityto continually develop the next generation of innovators and bring new ideas to life.”

Every successfulcompanyhas its own story. More remarkableiswhen an entire community continues producing those stories decade after decade.Capital follows opportunity Increasingly, it also follows communities that have learned how to create more of it.

That is the Innovation Flywheel. And that’swhy capital keeps finding Irvine. ▐

SAVIYNTLAUNCHES IDENTITY MANAGEMENT FOR THE AI AGE

Through dedicatedleadership and rapid growth, the company is creating an “HR department” for non-human AI agents

Inthe newAIera, alignment and control arekey to ensuring thatnon-human agents don’t go rogue from acompany’s mission. For ElSegundo-based Saviynt, cybersecurity and identity management are core missions thatare beingadopted to ensurethe safe and rapidimplementation of these agents.

The fast-growing company reachedanimportant milestone last month with $300 million in annual recurring revenue.Itreached that levelless than one yearaftersurpassing $200 million in annual recurring revenue, an importantmeasure forSaaS companies. Those numbers putitinthe

ers are readyfor theirissues to be solved,”said Sachin Nayyar, founderand chief executive of Saviynt.“The productweare launching is around securing AI. We will be one of the only companieswith an end-to-endsecurityagent.”

The pace of growth during thefirst half of 2026 was85% greater than the comparable periodfrom 2025. It hasmore than 700customers today. Now,itplans to leverage existing relationshipswith existing customers andbring new companies to its platform with thelaunchof “Zuma”– aprogram that will manage AI-based identities.

The name is anod to its local roots with headquarters in SouthernCalifornia. This product differs, however, because it is specifically focused on identitymanagement related to the growing needs of non-human identities andagents.

Since therapid adoption of AI technology,the numberofprocesses operated by non-human identitieshave increased exponentially.Large customers may have hada handful of AI agents running in comparisontohumanemployees just afew years ago,but those numbers arenow frequentlyabove 50 per personand could stretch up to 200 per person, according to Nayyar.

These AI workflowsneed to be identified and managedappropriately, similar to the waythat ahuman employee would be onboarded and givenpermission to access informationwithin acompany’ssystems. Humans canunderstand these guidelines, but AI capabilities may lack the guardrails to prevent catastrophic loss.

“Wehave the biggest opportunityofour life helping customers adopt AI.The challenges have been severely understated so far.Itwillbe top of mind in the next few months as AI workflows become mainstream,” said Nayyar. “The wave of AI hasmesuper energized.”

“Boomerang” Boss Nayyarleft this company that he founded in 2011 to help adifferent startup that he wasoperating, but he knew that identitymanagement wasanimportant business and

from his role as chief executive in 2018 and moved away from the day-to-day management responsibilities but stayed involved Therewas an opportunity to return and he rejoined in 2023.

“I camebackasanoperator with founder experience.I’m thankfulfor theopportunity. I’ve come back focusedand calm,”saidNayyar

The companynow employs about1,500 people worldwide.Nayyar is involved in hiring many employees. He estimated that about aquarter of employees intervieweddirectly with him, even today.Thatallowshim to build astrong team that he describes as “doers andbuilders” witha mindset focused on scaling thebusiness. He tells new hires that they can expect to learn as much in one yearatSaviynt as they would in three to five yearsatother companiesin the industry

His experience andleadershiphas gained notoriety on alargerscale.Hewas namedGreater Los Angeles EY Entrepreneurofthe Year,anaward that honors visionaryleadersofhigh-growth companies. The regionalwinnersare considered fora nationalaward presented in November.

“I consider myself an organizationalarchitect. We’rebuildinga startupatscale.Webring in the rightpeople andofferthe rightopportunities and make surethat we aretied to the mission,” said Nayyar

TheLaunch

Thatteam is nowfocusedonits most ambitious product yet. The launch of Zumahas potential to addadditionalrevenuefrom existing customers who need additionalcapabilities. It also could greatly expand the market foridentityproducts

sized businesses thatrequire levels of identity management similar to large clientsbecause the barriers to utilizing AI aremuchlower companies mayrapidly scalethose capabilities.

Until now,Saviynt hasbeen focused on large companies in regulated industriesand public companies regulated by the Securities and Exchange Commission. Now, with aproduct that is afullend-to-end solution for thefulllifecycle of these nonhuman identities, it is projecting wider adoptionofits products.

“Wenow have AI native companies. They might be smaller in size,but they aredeploying thousands of agents,”saidPaulZolfaghari, president of Saviynt. “Weare now beingviewed as the enabler of the adoptionofAI. We think it will open up the middle andlower market.”

Thereismore room forgrowth. Amajorcomponent of the recent IPO of SpaceX wasfocused on the capabilities of data centers in orbit. Its potentialisdiscussed as asolution to the growing needs of computing power thatpowers AI, which is credited as afactorthatincreases employee productivity. At Saviynt, thatmeans additional identities managed on the platform, which Zolfaghari notes is on asubstantialupwardarc.

Moreover,Deloitte’s 2026 “State of AI in the Enterprise”surveycaptured insights from more than3,200 business andITleaders. It showed that34% of companies are starting to useAI to deeply transform theirbusinesses and30% areredesigning keyprocesses around AI. Companies have broadenedworker access to AI by 50% in just one year, accordingtothe survey

“Technology is the primary driver to improving the human experience.More companiesare getting the rightpayoff on theinvestment. That makespeoplemore productive in work andgives us more recreationaltime,” said Zolfaghari.

Companies have tried to address the needs of managing AI toolsusing existing technology from both Saviynt andits competitors in the identity management space.However,those tools were not built to meet the needs of non-human identi-

company develop newsolutions

“Wehavetwo decades of experience solving thisfor humans.Now,this is the biggest shift of my career helping support AI identities. Thefield is evolving so quickly,”said Vibhuti Sinha,chief product officer of workforce identityand intelligence for Saviynt.

Non-human identities are typically managed by ahuman,but there are agrowing number of autonomousagents thathavemore complex challenges. Sinha explained that there are five differentlevels of autonomy granted to these identitiesand managingtheirworkflows and permissions canultimatelyfall to different executives withinacompanysuchasthe chief informationofficer,asecurityofficer or other executives. Differentregulated industries may have differentrequirements. Furthermore,regulations are constantly evolving globally andthere aresome local and state regulationsthat are being implemented surrounding AI adoption.

Withinthe Zuma product, thereare three pillars thatdefinethe capabilitiesofthe product –discover,manageand protect. In some cases, these workflows could be managingmillions of activities such as transactionsevery minute.Small problems canmultiply very quickly.

“The ‘protect’ layer is the most important.You have to watch non-human identities nonstop That’s why it is so unique. We didn’t have that problem with humans,” said Sinha.

“Eventhough we areworkinginthis space, we don’thaveall the answers. As long as customers keep working together with us,wewill be able to solvethe unknowns.” ▐

-David Nusbaum

THE OLYMPICSPONSORSHIP STARTER’SGUN HAS FIRED

The race for Southern California businesses to join 2028’s ecosystem has begun, andrewards are goingtoearly adopters

With the recently completed FIFA World Cup exceedingimpressions expectations,and the Olympic andParalympicGames returning to LosAngeles in 2028, the racefor marketing realestate has already begun. While many companies are still focused on next quarter’ssales goals, someofthe world’slargestbrands are making multimillion-dollarcommitments years before the Olympic flamereachesthe LosAngelesMemorial Coliseum.

The reason is simple: In Olympicmarketing, the best opportunities rarely wait untilthe opening ceremony.

According to marketing pro Jon Myers of TerraPulse, earlysponsorsgain category exclusivity, premium activation rights and years of storytelling leading up to the Games.Thosebenefits are becoming increasingly valuable as LosAngelespreparestohost what could become the largest sporting event in U.S. history

Already, LA28 has assembledanimpressive roster of “early bird” founding partners. DeltaAir Lines signed on yearsago as theinaugural founding partner,citing the Games as an investment in Los Angeles’futurewhile gaining extensivemarketingrightstied to Team USAand NBCUniversal’s Olympic coverage. Honda joined as afounding partnerlastyear, becoming the Official Automotive Partner forTeamUSA whileshowcasingits mobilitytechnologies throughout the Games.Financial software giant Intuit also committed early, becoming afoundingpartner and securing aunique branding advantage: ItsIntuitDomewillretainits corporate name while serving as the Olympic basketball venue –a first foramodern Olympic Games.Comcast/NBCUniversal, Deloitte, Coca-Cola,Samsung, Visa,Omega,Procter &Gamble and other Olympic partners have likewise launched, extended or expandedtheir commitment throughLA28.

Marketingexperts frequently pointto“mental availability”– therepeated exposure that builds brand preference over time –asone of sponsorship’s greatestadvantages. Acompany that waits until 2027 to begin Olympic marketingmay discoverthat competitors have alreadyspentyears owningthe conversation.

The FIFAWorld Cup hasoffered an important preview.Asthe United States, Canadaand Mexico hosted thehighlyvisible 2026 tournament,brands accelerated investments well beforekickoff Companiesrecognize that global sportingevents generate years of anticipation rather thanafew weeksofattention. TheWorld Cuphas shownthat activation –not merely placinga logo on signage –iswhat drivesreturn on investment.

“Successful sponsors createfan festivals, digital experiences, influencer partnerships, local community programs, limited-edition productsand hospitalityevents thatbegin monthsoreven years before the first match,”said Myers. “Thatdoes not necessarily mean everycompanyneedsanofficial Olympic sponsorship.Infact, many successfulbusinesses will never become official partners.Instead, they canstrategically position themselves around the ecosystem created by the Games.”

Hospitalitycompanies can develop travelpackages yearsinadvance.Commercialreal estate firms canpositionthemselvesasexperts on the regional development boom. Lawfirmscan publish thought leadership on international businessissues. Technology providers canshowcase cybersecurity, AI, logistics, paymentsystemsand smart-city innovations. Construction companiescan highlight infrastructure expertise, whilestaffing firms, transportation providers, restaurantsand entertainment venuescan build campaigns aimed at the millions of visitors expected to arriveinSouthern California

Unliketraditional sponsorships that begin shortly before an event, Olympic partnerships often provide threeorfour years to build customer engagement, employeepride,hospitality programs, athlete partnerships, communityinitiatives anddigitalcampaigns.Bythe time theopening ceremony arrives, consumers have already associated those brands withthe Olympic movement.

Even companies without consumer brands have opport unities.

“Business-to-business firms often underestimatethe networking power of global sporting events,” addedMyers.“Executives from around the world will gather in LosAngeles foryears of planning meetings,supplierevents andcorporatehospitality.For consulting firms, accountants, banks, insurance brokersand software companies, Olympic-related business developmentmay ultimately provemorevaluable thanconsumer advertising.”

There is another advantage to moving early: pricing. As sponsorship inventoryshrinks,remaining opportunities generally become more expensive and more competitive.Premium hospitalitylocations, athlete endorsement deals, experiential

PROPOSED RULESCOULD DECREASEREPORTING REQUIREMENTSFOR PUBLIC COMPANIES

Financial review requirementswill retain similar staffing levelsregardlessofnew rules, sayexperts

F

or publicly traded companies,quarterly financial reportshave been astaplefor more than 50 years, butproposed rulesfromthe Securities and Exchange Commission could leadto achange that would reduce the number of times that acompanyisrequired to report to on asemiannual basis.

In December 2018, the SEC issued arequest for public commentonperiodic reportingand earnings statements. The Commission didnot advance aproposal at that time,but the current chairmanofthe agency, Paul Atkins, revisited the subjectinSeptember 2025 anddeveloped aproposal that openedfor public comment in May. More than 5,000 commentswere submitted. Theagency is in the process of reviewing those comments, which could influence the final rules proposal should it decide to move forward.

The SECintroduced asemi-annual reporting requirement in 1955 andincreased the cadence of mandatoryreporting to quarterlyin1970, where it has remainedever since.The SEC estimated that this change could savean aggregateofmore than $200million in compliance costsannually. Under theproposal,the filing deadline for semi-annual reportsonForm 10-S would be 40 or 45 days, depending on the company’s filer status,after the end of the first semi-annual period of thefiscal year.The proposal would notchange Form 8-K requirements and triggering events, including relatedtofurnishing any earnings releases.

“Investors will haveto potentially increase their monitoring of informationprovided in Form8-K filings

and other general press releases to offset the reduction of periodic reporting made forthe first andthird quarters,” said Wayne Pinnell, managing partnerofIrvine-basedaccounting firm Haskell& White

Some major international markets operate without mandatoryquarterly reports such as the U.K., which removed its quarterly requirement in 2014. Academic studies have found no major differencesinthe financial performance of those companies that elected to report semi-annually Nevertheless, many British companies continue to report quarterlydue to the desires of investors who wish to have more frequent reporting. Most of Europe,Hong Kong and Australia are alsoon asemi-annual reporting cycle

As for the accounting firms thathandleaudit work, staffinglevels are likely to remain at current levels evenifreporting requirements change That’s because the financial review process will still be necessary.

“In the worst-case scenario,public companies could demandtheir auditors only do work concurrent with thepreparation of asemi-annual report versus work that is spreadquarter-byquarter under the current filing system. This wouldobviouslycreate ‘bunching’ of staffing requirements as all interim review work over asix-month period wouldneed to be completed in the 40-45 days after period-end to meet the deadline,” said Pinnell.

“While filing fewerperiodic reports could reduce certain compliance and reporting costs, many public companiesstill need timely financial informationtorun their business, support board oversight, meet investor expectations and satisfy contractual obligations such as lending arrangements,”said MichelleWroan, LosAngeles managing partnerofKPMG. “The broader question is not just howoften companies report, but howfinancial information is used throughout the business andbythe capital markets.” ▐

-DavidNusbaum

LATimes Studios presents the40largest accounting firms ranked by the number of CPAs in LosAngelesCountyoffices. The list is led by global accountingfirm Ernst &Young LLP with591 CPAs in LosAngeles County.Itemploys nearly 2,200professional employees andstafflocally.Itisfollowedbyglobal firms PwC, Deloitte andKPMG, respectively.

Among the top 10 firms listed, HCVT and Gursey Schneider LLP are the only firms with localheadquarters.HCVTemploys215 CPAs while Gursey Schneider employs 92 CPAsinLos Angeles County

Firms haveexpanded through mergers and acquisitions, both geographically and by addingnew services. CrossCountryConsulting acquired Southern California firmCNM LLPinMarch. Theacquisition added more

than 200 employees across offices in LosAngeles, OrangeCountyand SanDiego,aswellasNew York andKuala Lumpur.SingerBurke joined Mercer Advisors in October 2025 as apartner firmfocused on serving high-net-worth clients in theentertainment industry. GHJ, anational advisory, taxand accounting firm, acquiredBlueprintCFO,a tenured fractionalCFO services firm, effective Nov. 1, 2025

Overall,the 40 largest firms employ3,725 CPAs in LosAngeles Countyand have 14,000 total staff.Toview these lists online,visit latimes.com/b2b

Please send corrections or inquiriesabout inclusion in future lists to business@latimes.com

MORE THAN THENUMBERS

LATimes Studiospresents the 25 largest accounting firms ranked by thenumber of CPAs in Orange Countyoffices.Deloitte is the largestaccounting firm in Orange County with 259 CPAs and more than1,000 totalstaff in thearea.Baker Tilly, whichmergedwithMoss Adams last year,ranks second on thelist with 201 local CPAs

In December, Withum opened anew office inIrvine with sweeping views of the region, modern amenitiesand collaborativespacesfor the firm’s roughly 100 local employees.

“Remaining in theheart of Orange County’s businesshub,our Irvine office continues to position Withum close to the industries and innovatorsdriving ourregion forward. Ourmove to alarger officereflects ourcontinued commitment to growth in Southern California. We appreciatethe communitycelebratingwithusand sharing in our excitementfor whatthe future holds,” said Ken Johnson, partner-in-charge ofthe OrangeCountyOffice,inastatement

Twofirms reached major milestones this year. Long Beach-basedWindescelebratedits 100th anniversary on May 6while RSMmarkedits centennial on June 1.

Overall, the25largest firmsemploy 1,838 CPAs in Orange Countyand have morethan5,600 total staff.Toviewthese lists online,visit latimes.com/b2b

Pleasesend correctionsorinquiries about inclusion in future liststo business@latimes.com.

INDUSTRIAL MARKET BUILDS POSITIVE MOMENTUM DESPITE ECONOMIC UNCERTAINTY

Office in LosAngelesbegins to level; large leases help bolster LA and IE industrial numbers

SouthernCalifornia’s industrial market had thehighest leasing levels in morethan five yearsduring the second quarter as declining asking leaseratesflattened and vacancy plateaued, according to data from Cushman & Wakefield. Despite ongoing concerns with tariffs, oilprices and moderating port volumes, Southern California serves as oneofthe nation’s most important hubs for logistics and advanced manufacturing.

“Industrial leasing activitycontinuestobuild momentum, with year-to-datetotalsreaching their highest level since 2021. Vacancyrates are gradually declining, whilethe developmentpipeline remains disciplined, signaling amarketthat is steadily rebalancing,”said Brandon Gill, executivedirectoratCushman &Wakefield.“Although occupiers are taking amoremeasured approach to expansion than in recentyears, demandfor well-located Class Aindustrial facilities remains strong and continues to underpin the market’s long-term fundamentals.”

In LosAngeles County,manufacturers lookingto scaleoperations signedthe two largest leases. They includeValar Atomics, an El Segundo-based nuclearstartup,which leased 512,000 square feet in Torrance,and additivemanufacturer Divergent Technologies, which leased 415,000 square feet in Long Beach. In theInlandEmpire,large transactions included a1.5 million squarefoot renewal by Deckers Outdoor Corp.and two leases of approximately 1.3 million square feet each by logistics firms.

While many U.S. marketsface elevated supply pressure,Southern California’s industrial construction pipeline remains well below historical averages.There is less than 10 millionsquare

feet of industrial space under construction in Southern California, which trailslarge markets suchasDallasand Houston as well as much smallersecondary markets such as Phoenix and Columbus, Ohio

The office market as awhole continues to navigate structural challenges to the way thatcompaniesapproach work.Asa result, some older,vacant office buildings have been converted or repositioned, especially in urban markets. U.S. office inventoryhas declined by 33 million square feet, or 0.6%, over the past five quarters, according to Cushman &Wakefield research. In LosAngeles, investors have repriced older assets, particularly in Downtown Los Angeles where recent transactions include the LosAngelesDepartment of Water &Power’s acquisitionofthe Banc of Californiabuilding from Manulife for$93 million, or $123 per squarefoot.

“The LosAngeles office market remains in aperiod of transition, but we’re beginning to see aclearerpicture of where demand is headed,” said Luke Raimondo,vice chair at Cushman & Wakefield.“Companies continue to prioritizehighquality buildings andlocations that help attract and retain talent. We’re not seeing recovery across most segments of the wider market yet, but leasing demand forthe bestspaces and locations remains active, and the ongoing price discoveryprocess should help lay the foundation for ahealthier market over time.”

-DavidNusbaum

LOSANGELES COUNTY

The LosAngeles office market vacancyrate increased to 23.4% as occupancy losses broughtthe year-to-datetotal tonegative 786,000 square feet. Sublease availability remainedstable, whichhas weighed heavily on submarkets where second-generationavailabilityremainsanoption, especiallyfor startups and companies that maynot be abletopredict long-term needs.Construction of The Habitat in CulverCityadded 253,000 squarefeet of newofficeinventorytothe West LosAngeles submarket, where pricing greater than$5per square foot/month far exceedsthe market averageof$3.68. In Downtown LosAngeles, high-rise

officecontinuestotrade,albeitatmuch lowervalues than pre-pandemic peaks. Recent activityincludesLADWP’s $93-millionacquisition of 865 S. Figueroa St, and the sale of the stalled Oceanwide Plazacould bring aboost to the area. On the industrialside, ongoing uncertaintyhampered growth, butstrong leasing activityprojects balanced market fundamentals in the latter half of the year The averageasking rateof$1.32 persquarefoot/month remained steady after declining for 10 consecutive quarters –stabilization may signal that the market is approaching an inflection point.

OFFICEINDUSTRIAL

20.4 Million

The overall office market vacancyof14.4% is closetoa four-yearlow in the Orange County market as tenantspreferhigher-quality space. Year-to-date net absorption of 959,715 square feet hasbeen concentrated in theGreater Airport Area andits professional service tenants. Asking rates softenedslightly to $2.86 per square foot permonth. Limiteddevelopmentactivitywillcontinuetoconstrain new supply, butmoderate employment growth projectsgradual recovery Orange Countyrecordedmore than $285 million in office sales across five transactions, which was downfrom the prior quarter.The largest was Hoag’s

$207-million purchase of the 1million-square-foot Ziggurat building from the federal government,sitting on aprime 89 acres. At theclose of thesale,the former federal building toutedprojected savings of more than $340million in long-term repair andupgrade costs.

The industrial vacancy rate increased for the 14th consecutive quarter,rising by 20 basis points quarter-over-quarterto5.2%. Despite risingvacancy, the overall average asking rent rose 3% quarterly to $1.52 per square foot per month. Vacancies weredriven largely by tenantrelocations andspeculative construction.

OFFICE INDUSTRIAL

4.8Million

1.0Million

SNAPSHOT–Q22026

INLAND EMPIRE

Theoverall vacancyrateincreased to 8.8% despitenew leasingactivitythat reached its highest levelinmore thanfive years. The Inland EmpireWest submarket accounted for54% of totalleasing activity.The Inland Empire Easthad significant demandfrom large tenants,but it hasa more uneven recoverywith less demand compared to the West submarket. Askingrates in theEast submarket are nearly 20% belowthe areas that are closer to the ports. While port operations remain efficient, uncertainty continues to weighonthe outlook.A sharpincrease in activity is expected to lead to occupancy gains in the latterhalf of theyear,

whichcould support an increase in asking rates. There is little pressure from newconstruction, with 1.4 million squarefeet completed and 4.8million square feetunderway across 20 projects.

The office vacancy rate in the Inland Empireheldsteady from the prior quarter at 9.1%, althoughactivitywas mixedinthe various submarkets. The southern part of themarket, which includes Coronaand Temecula, had positiveabsorption duringthe first half of the year while eastern areas had the largest declines.

OFFICEINDUSTRIAL

SNAPSHOT–

SAN DIEGO

San Diego’s overallvacancyratedecreasedonaquarterly basis to 15%, butithas been on anupwardtrajectoryastenants seekingsmaller spaces (less than 10,000 square feet) are amongthe most active.Thisdemand favors owners with flexible floorplatesand move-in-readyspace. Among larger tenants, renewalswere favored as high costs of construction canbecost prohibitive to amove.Notably, thethree largest leases of the quarter in SanDiego were renewals. San Diego employment increased by 13,400 jobs, or 0.9% year-over-year between May 2025 and May2026, led by thehealth caresector.Professional

and business services had modest employment gains, althoughgovernment, construction andmanufacturing hadjob losses.Officedemandremains cautious San Diego’s overall industrial vacancy rate held steadyat7.2% and the averageaskingratedeclined slightly as vacancyremains elevatedabove recent historical lows. Leasing activitytotaled 1.8 million squarefeet,rising37% quarterover-quarter,wellabove the five-yearquarterly average of 1.3 million square feet. Duringthe first half of 2026, manufacturing led all sectors,accounting for 30% of leasing volume,followedbytransportation, warehousing, utilities (21%) andretail(17%).

3.1Million

1.4Million

HRisnolongerviewed simplyasthe department responsiblefor hiring, benefits and compliance. It has become oneofthe most strategic functions in the organization, helpingexecutives navigate arapidly changing labor market while minimizing legal risk and protecting profitability.

For LosAngeles-areabusinesses in particular, three major developments are convergingatonce:

1. California’s new restrictions on “stay-or-pay” agreements under AB 692

2. An increasingly mobile workforce,with many professionals planningtoseek new opportunities

3. Rising wage thresholds for exempt employees and continued increases to stateand local minimum wages

Individually,eachpresentsa challenge.Together,theyare forcing executive teams to rethinkcompensationstrategies, retention programs and workforceplanning before the end of the year

Are Our EmploymentAgreements Still Legal?

Perhaps the biggest immediate question executives are bringing to HR concerns California’s new AB 692, whichplacessignificantrestrictions on so-called“stay-or-pay” agreements.

Historically, many employers offered signing bonuses, relocation assistance or company-fundedtraining with provisions requiringemployees to repay those costs if theyleft within aspecified period. While intendedto protect employer investments, these agreementsare now under much greater legal scrutiny.

For HR leaders, the message is clear: Every employment agreement should be reviewed.

Questions executives should be asking include:

•Which bonus or repayment agreements could now create legal exposure?

•Are relocation packages compliant with current law?

HR CORNER: WHAT C-SUITERS ARE ASKING (OR SHOULD BE ASKING) THEIR HR TEAMS TODAY

For many business leaders, the conversation with human resources has shifted dramatically over the past year

•Do training reimbursement provisions need to be rewritten?

•Are employment contracts unintentionally discouraging employee mobility?

Employment attorneys generally recommend companies auditexisting agreements rather than waiting untila dispute arises.A policythat wasconsidered standard practice only ayearago may now require significant revision.

WhyIsRetention Becoming More Expensive?

The second big conversation revolves around talent retention.

Multiple workforce surveyssuggest that morethanhalfofLos Angeles professionals areconsidering changing jobs this year At the same time,certainskilled professions –including accounting, finance,cybersecurityand experienced technology roles –continue to experience exceptionally tight labor markets.

Whenunemployment hovers near historic lows in specializedfields, employees gain negotiating leverage.For executive teams, that means replacinga departing employee often costssubstantially morethan retaining one

threshold, executives now face difficultdecisions.

Should employees receive salary increases to preserve exempt status? Or should certainpositions be reclassified as non-exempt? Neither option is inexpensive. Maintaining exempt status increasespayrollcosts.

Reclassificationintroducesovertime requirements, meal and rest break compliance,scheduling changes and additional administrativeoversight. HR departmentsare working closely with finance teamstomodelboth scenariosbefore makingorganizational decisions.

HR Has Become aStrategic Business Partner

HR leaders are increasingly advising CEOs to move beyond annual raises as their primary retention strategy. Instead, companies are investing in:

•Flexible work arrangements

•Career development programs

•Leadership training

•Internal mobilityopportunities

•Moretransparent compensation planning

•Improvedmanager coaching

Many employees leave because theydon’t seea future inside the organization rather thanbecause of salary alone.That makes career pathing just as important as compensation.

The best retention strategies begin long before an employee submits aresignation.

Are We Paying Enough to Keep Exempt Employees?

Another pressing issue involves California’s exempt employeesalary threshold.

The annual salary minimum hasincreased again, reaching $70,304 formanyexemptemployees, requiring employers to reevaluate numerous positions.For organizations employing supervisors, managers or professional staff whose salariessit near the

The common thread connecting allof theseissuesisthattheyextendwell beyond traditional human resources. Everycompensation adjustment affects budgets. Everycompliance issue affects legal risk. Everyresignation affectsproductivity. Everyhiring delay affects revenue.

For thesereasons, HR conversations areincreasinglybecomingexecutive conversations.

Theorganizationsbestpositioned for success heading into the fourth quarter willbethose that treatHR not as an administrative function but as astrategic advisor capable of helping leadershipbalance compliance,workforce stability and long-term growth.

California’s evolving employment landscapeshows little sign of slowing. Businesses thatproactively review employment agreements, modernize retentionstrategies, reassess compensationstructures andprepare managers forchanging workplace expectations will be better equipped to compete for talent while avoiding costly legal and operational surprises.

In today’slabor market,the most valuablequestion aCEO canask may no longerbe“Canweafford theseHRchanges?”Itmay instead be “Can we afford notto?” ▐

-PaulWilliams

Caylent Appoints Eduardo Fayhas

President

and

Chief Operating Officer

to Scale AI-First Enterprise Services

Irvine-based Caylent, an AI-first Amazon WebServices (AWS) Premier Tier ServicesPartner, hasannounced the addition of Eduardo Fayh as president and COO. Fayh’s primary focus will be on operationalizingCaylent’s AI-first services modeland scaling thecompany’s foundation to serve even moreenterprise customers through their continuedgrowth

With more than 25 years of experience in technology, consulting and operationalleadership,Fayh joins Caylent to capitalize on expanding relationships with partners,including AWSand Anthropic. He will reportdirectlytoCaylent’sCEO,Valerie Henderson, andwillleadteams, includingService Delivery, Operations and ManagedServices.

NEXT UP Highlights of Recent Executive Hires and Climbs

Fayhspent 13 yearshelping build Thoughtworks in progressivelysenior roles, ultimatelyoverseeing a$300-million business. He most recently served as VP of deliveryatGlobant,leading strategic client partnershipsand drivinggrowth at the enterprise level.

Pendulum Therapeutics

Names Amy Errett to Board of Directors

Pendulum Therapeutics, aleadingbiotechnology companypioneering microbiomescience to transform human health, has announced the appointment of AmyErrett,founder andCEO of Madison Reed, to its boardofdirectors.

Errett joins Pendulum at atime of accelerating growth andincreasingconsumerawareness of the microbiome’s role in health; beyond the gut and into metabolic health, women’shealth andmore.AsPendulumcontinuestoexpand its portfolioofclinically validated microbiome products and bring breakthrough science to broader audiences, Errett’sexpertise building consumer brands and scaling mission-drivenbusinesses will help guide the company’snextphase of growth

Afour-time entrepreneur,venture capitalistand consumerbrand leader,Errett founded Madison Reed with amission to transformthe hair color industrythrough innovation, accessibilityand

customer experience.Under herleadership, Madison Reed hasbecome oneofthe most recognized direct-to-consumer beauty brands in the United States,serving millions of customers through itsomnichannelbusiness model. Prior to founding Madison Reed, Errett wasa general partner at Maveron.

Super League Appoints

Anthony Alexander as Executive Vice President of Revenue

SantaMonica-based Super League,an audience intelligence and media activation companytrusted by global brands to reach and influencepeoplewho play video games across the digital landscape,has announcedthe appointmentofAnthonyAlexander as executive vice president of revenue

Reporting to CEO andpresidentMatt Edelman, Alexander willleadthe company’s globalsales organization, overseeingrevenue strategy, brand andagencyrelationships,and commercialization of the company’saudience,data, andtechnology capabilitiesand assets.

Alexander brings morethan15years of experience buildingsales teams andramping revenue insidethe gaming anddigital mediaindustries. Mostrecently, he served as chiefrevenueofficer at Livewire, aglobal gamingmarketingagency. Before that,hespent more than adecade at Playwire, the programmatic revenue and advertising-technologycompany, where he rose from accountexecutive to executive vice president of global sales andoversaw its entire direct advertising business.

Stream Realty Partners Expands California Presence with Opening of LosAngeles Office

StreamRealty Partners, anational commercial real estatefirm offering an integrated platform of services,has announced the opening of its newoffice inDowntown Los Angeles, markinga significant expansion of the

firm’s presence acrossSouthern California.This strategic growth builds upon Stream’s existing operations in Orange Countyand the Inland Empire and is further strengthened by the addition of ahigh-performing team.

The location is anchored by aseasoned group of commercial real estate professionals, led by JonathanLarsen, who joins as executivevice chairman, andChandler Larsen, who joins as managing director.Working alongside Marty Pupil,executive managing director,who oversees Stream’s California offices, Larsen and Larsen will help drive the firm’scontinued growth across Los Angelesasitexpands its presence and capabilitiesthroughout the market.

They are joined by Sally Zesut and Eric B. Moore, both seniorvice presidents; Luke Eskigian, vice president; and Sebastian Bernt, associate. The broader teamalso includes senior analyst Austin Cassidy, marketing specialist Arianna Nienow,and senior brokerage coordinator Yolanda Gerardo

indie Announces Changes to Board of Directors

AlisoViejo-based indie Semiconductor,an automotivesolutions innovator,announced that Dr.Ichiro Aoki hasresigned as president andfrom the company’s board of directors,effectiveJune 29,2026, andhas appointed Thomas Schiller to its board of directors.

Dr.Aoki has been with indie since its inception andisone of the company’s co-founders, serving as indie’s president, managing the execution of the company’s engineering plans. Dr.Aoki will transitiontoa more focused, limited role centered on technical expertise,while also offering advisorysupport to advance the company’sstrategic product roadmap.

Schiller hascontributed significantly to the company over the past seven years, initially serving as indie’s former CFO and executivevice presidentofstrategy andrecently as astrategic advisor.His leadership and tenacityare exemplified by the instrumental role he played in steering the company’s 2021 IPO ▐

-PaulWilliams

ROUNDUP VENTURE CAPITAL

Stanford-FoundedIlluminant

Surgical

Backed by $8.4MtoRevolutionize Image-Guided Care IlluminantSurgical,a LosAngeles-basedprecisionaccessand visualizationcompany, raised $8.4million in seed funding to accelerate the launch of its flagship Skylight platform.The funding wasled by Wing 2Wing Ventures alongside investments from aseries of health-focused venture partners

“Our mission from day one hasbeen to build technologythatdoctors actually wanttouse and to deliveritina way thatmakes adoption effortless,”said Eldrick Millares,co-founderand co-chief executive of Illuminant, in astatement “With Skylight, we’re combining clinical impact withabusiness modelthat gets this into operating rooms quickly and sustainably.”

Skylight is aprojection-based clinical guidance platform that gives doctors a“heads-updisplay” of apatient’sinternal anatomy, shown directly on the body with no headsets, goggles or external monitors required. The system enables millimeter-level accuracy for procedures, ranging from spine surgerytocancer biopsies, helping doctors workmorepreciselyand efficiently.

The platform combines two proprietary technologies, allowing doctors to perform procedures faster,with greater confidence andwithoutthe cognitive burden of switching between monitors andthe operative field.SkinMatch aligns medicalimageswith the patient’sanatomy in real time,while LightScreen displayskey anatomical details directly on the patient’sskin, adjusting dynamicallyfor movement andcontours

“Illuminantistackling oneofthe mostpersistent challengesinmodern medicine witha solution that is both technically elegantand clinically impactful,” saidMax Knapp, managing director at Wing 2Wing Ventures, in astatement. “The team’s ability to translate cutting-edgeresearch intoaplatformthat fits seamlesslyinto clinical practice positions them to redefine thestandard of careworldwide.”

Illuminantwas founded in 2021 by Stanfordtrained innovatorsinthe fieldsofmedical technology, computer vision and high-performancehardware

Source: Illuminant Surgical

Singularity Air Defense Emerges From Stealth With $80MSeries A LosAngeles-basedSingularity hasemergedfrom stealth withanoversubscribed $80-million Series Afundingata $400-million valuation,aimed at deploying low-cost airdefense systems at scale.

“The scale of avoidable casualtiesfromlow-cost munitions in recent years is gut-wrenching. The U.S. hashad the technologytodefeat these threats for decades, butasadversariesstockpile millions andput themtouse,we’ve reached atrue crisis forinterceptor inventoryand production volume,”said Jack Oswald, co-founder and CEO of Singularity. “Aftermeeting operators in Ukraine gravely injured by these threats,there wasnootherproblem we could justifyworking on.The only measure of Singularity’ssuccess will be lives saved.”

The round is led by Khosla Ventures and Felicis,with participation from seed investors AE Ventures andNEA, as well as Long Journey, Harpoon, Menlo Ventures, YCombinator, Decisive Point, NewVista,Sunflower and Soma.Singularity,co-founded by Jack Oswald and COO Shail Giroux, hasbuilt aworld-class team drawn from SpaceX, Tesla, Anduril and Lockheed Martin, alongside experienced operators who,after decades of service,sold more than $12 billionworth of airdefense systems.

James Detweiler, generalpartner at Felicis, commented, “Singularity’smission is urgent and demands exceptional founders. Jack and Shail are deeply mission-driven leaderswith the caliber, focus and ambition to meet the moment. This funding gives them the resources to do so at speed.”

Singularityisbackedbydozensofrecognizedleaders from the industry, themilitary and Congress.

Source:Singularity

-David Nusbaum,PaulWilliams

MERGERS & ACQUISITIONS ROUNDUP

THIS MONTH’S TOP DEALS FROM AROUND SOUTHERN CALIFORNIA

FitnessGiant Zwift Acquires Real Routes App ROUVYtoDominateIndoor Cycling

Long Beach-based Zwift, the global online fitness platform, hasacquired ROUVY,the real routes cycling app thathelps riders achieve their cycling goals. Terms of the deal were not disclosed, butthe transaction aims to accelerate growth in the indoor cycling categorythrough strategic cooperationbetween the two companies while maintaining their independent operations.

“This is an excitingtime forour industryand for cyclistsworldwide.Overthe past year,wehave seen the indoor cycling market grow at the fastest ratesince COVID,”said Eric Min, co-founder and chiefexecutive at Zwift, in astatement. “We’re seeingour audience widen, and we are now seeingmore people come to cycling forthe first time through indoor training, seeking an activity thatsupportstheir activelifestyle and focus on long-term health. This growth hasbeen driven by the increased affordabilityand simplicityof‘Zwift Ready’ smarttrainers, which offer compatibility withvirtually anybike.”

BothZwift and ROUVY will continue to operate independently,with differentiated roadmaps and subscriptionpackages.ZwiftReady smart trainersand ZwiftRide smart frames will work

[Continuesonpage32]

[Continued from page 31]

with ROUVY,unlocking new experiences within the ROUVY softwareapplication and makingit easier for new userstoget started

Founded in 2014, Zwift utilizes massively multiplayeronline gaming technologytocreate rich, 3D worlds ripe for exploration, wirelessly connecting to exercise equipmentsuchasbike trainers, treadmillsand more

ROUVY,launched in 2017,isbuiltonrealroutes, places and gradients, bringing the real world indoors to makecyclingirresistible all year round.

“This is astrong validation of what we’ve built with our teamand community, connecting indoor and outdoor training through real routes,” said Petr Samek, chief executive and founder of ROUVY, in astatement. “Now,supported by Zwift and the Zwift hardware ecosystem, we have an opportunitytocreateeven more experiencesinthe worldofindoor cycling reality.”

Source: Zwift

Milhaus Merges With SRGResidential and Acquires Broadshore

Milhaus andSRG Residential announced the completion of amergerforming anational, vertically integrated, multifamilyplatform focusedondeveloping, owning and managing apartment communities in morethan20top U.S. apartment markets. Following the merger, the combined development pipeline includes over $2.5 billion of totalinvestment activity and morethan 50,000apartmenthomes under third-partymanagement, supported by approximately 1,400 employees. In addition, Milhaus hasagreed to acquireLos Angeles-based Broadshore Capital Partnersto expand investment and lending capabilities

Together,the three companies will benefit immediately from amore durable balancesheet, cycle-tested leadership,a strongfoundationfor growth and greater access to adiversepoolof development and investment opportunities.

The merger withNewport Beach-based SRG Residential, asubsidiary of Sares RegisGroup, addsmore than 190 properties and46,000units to thethird-party propertymanagement portfolio and expands geography,leadership andpipelinetogrow development and construction. The combined companyplans to starteightdevelopment projects in 2026 totaling morethan 2,000 new units andexpand developmentand construction resources in Southern California, Denver and Phoenix with SRGResidential’s leadership and infrastructure ▐

Source: Milhaus, SRG Residentialand Broadshore CapitalPartners

-DavidNusbaum, Paul Williams

[Continued frompage 12]

directly into internal systems through application programming interfaces, or APIs, allowing data about judges, venues, opposing counsel andlitigation historytowork alongside firms’ own information and artificial intelligence tools.

He said 73% of respondents expressed interest in that type of integration, asubstantial increase from the prior year that he believes is closely tied to AI adoption.

Even as technologyevolves, Haas saidlawyers must still evaluate whether the underlyingdata is meaningful before relying on it.

“The usefulness of legalanalytics depends on the sample size,” he said, explaining that statistics showing how often ajudge grants or denies aparticularmotion mayhave limited valueif theyare based on only ahandfulofcases or include dissimilarmatters.

Data quality, he added, is equally important because experienced lawyers have longrelied on institutional knowledgeabout judges and opposing counsel, withmodern analytics simply placing more empirical support behind practices litigators have followed for decades.

Haas saidhis firm uses litigation analytics throughout the life of acase,from motions to dismiss andclass certification through summary judgment andappeals, helping clients evaluate litigation risk andsettlement exposure The information can provide reassurance that pursuing aparticularmotion is worthwhile, but it never dictates strategybyitself

“Good lawyers manage that uncertainty,”Haas said. “You never promise you’re going to win amotion because judges are human andthey might disagree with youorthey might make amistake.”

Masarek said those practical uses largely mirror what firms have reported to LexMachina overthe years

Claimassessment and case strategyremain among the most common uses for litigation analytics, he said, helpingattorneys decide where to filesuit, whether to remove acase, pursue motions or consider settlement

Firms also increasingly rely on analytics for business development, using objective litigation datatodemonstrate experience in client pitches, respond to requests for proposals, identify prospective clients and even evaluate potentiallateral hires.

The surveylikewise found firms increasingly are using analytics before litigation even begins.

Across firms of all sizes, respondents identified pitching clients and demonstrating expertise as the leading business-development use for litigation analytics, while firms also reported using thedatatoidentifyopportunities and better understandlitigation trends.

Criminal defense attorneyDmitryGorin, an Eisner Gorin LLP partner,said artificial intelligence hasalready transformed legal research by allowing lawyers to summarizelengthy records, organize discovery, compare testimony and identifyrelevant authorityinminutes rather thanhours. However,hesaid speed should not be confused with accuracy.

“AIincreasesefficiency, but doesn’t replace judgment,”Gorin said, adding that everycitation, factual assertion and legal conclusion still must be verified by an attorney.

In criminal defense,Gorin said technology can organizeinformation, but it cannot evaluate witness credibility, predict juror reactions or gauge the effectiveness of cross-examination.

“Courtrooms involvehuman beings,not algorithms,”hesaid.

“The danger of AI is that baddataproduces badconclusions. If the underlying information is incomplete or inaccurate,the resulting analytics become misleading. Lawyers should avoid treating statistics as predictions.”

He also cautioned attorneys to ensure AI platforms comply with ethical obligations governing privileged client information.

Masareklikewise said the next major evolution forlitigation analytics will be determining how empirical legal data is incorporated into AI systems. As large language models become more common in legal practice,hesaid, attorneys increasingly will expect those tools to draw on reliablelitigation data rather than simply generate text.

For Haas, the profession’s future remains grounded in the same principle thathas guided lawyers for generations.

“Aslong as humans are still the judges deciding issues, and as long as humansstill sit on the juries that decide cases, the legal analytics toolwillprobably alwaysget better,but they will never replace what lawyers have done for hundreds of years,” Haassaid. ▐

-DevonBelcher,DailyJournal Staff Writer

(vichie81 -stock.adobe.com)

[Continued from page 5]

include licensing, product lines,digital assets, live events andinternational payments.The broader thesis is that good structure creates something more durable than apersonalitydriven income stream. It creates an asset thatis easier to package,diligence and ultimatelysell, becausethe contracts, IP and financials livein aclean, transferable business.

Q: How have revenue streams diversified beyond brand deals –subscriptions, licensing,equity partnerships, live commerce,AImonetization?

Riihimaki I’ve exploreda wide range of revenue streams beyond traditional brand deals, everything from licensing and merchandise to live experiences. What’sbecome clear is that there isn’t aone-size-fits-all model; the right mix depends on the creator’splatform, content

[Continued from page 9]

customer advisory councils or limited innovation partnerships.

These experiences reward loyalcustomerswhile encouraging deeper engagement. Customerswho feel they receive privileged access often become stronger advocates andgenerate valuable referrals. The relationship evolves beyond price comparisons.

The Risk of Artificial Scarcity

Of course,scarcity only works whenit’sauthentic. Consumersquickly recognize when companies create artificial shortages while warehouses remain full.

Repeated “limited edition”promotions eventually lose credibilityifproducts continually return. B2B buyers are even moreskeptical. Manufacturers cannot repeatedly claim supply constraintswhile simultaneously encouraging larger orders.

Successfulscarcity strategies require genuine operational discipline.Accordingtomarketing expert Jon Myers of TerraPulseCommunications, “companies must carefully forecastdemand,

formats and audience.Thatsaid, ownershiphas become amajor focus for me.I’ve made angel investmentsinbrands Ibelieve in, contributing content, capital or consulting in exchange for equity. Andafter several years in licensing, Ifound myselfwanting more control– bothcreatively and financially.That’swhatultimately led me to startmyown brand (dog lifestyle brand, FuzzboyOriginals). It’s ashift from participating in other businesses to actually building one.You’ve seen it with EmmaChamberlain and Chamberlain Coffee, Claudia Sulewski and CYKLAR, and so many more

Q: What are the biggest contract pitfalls creatorsencounter in brand deals or platform agreements?

Perlmutter-Gumbiner The pitfalls Isee most often are pretty consistent.First,“usage”rights that are far broader than the deal economics justify,especially perpetual,worldwide, all-media grants. Second, sloppydeal terms around deliverables, approvalsand revision cycles that create endless scope creep.Third, exclusivitythatlooksnarrow on paper but functionally blocksother categories of revenue Fourth, moralityand termination clauses that are drafted as aone-way option. Creators also get squeezed on payment terms, long net periods, payments tied to subjective “approval”and “make-good” obligations that shift campaign risk onto the creator.Abig one that gets missed is IP.Brands may trytoown rawfootage, concepts or derivative content.The fix is not

communicate transparently and consistently deliver exceptional quality. Scarcity should enhance trust —not erode it.”

Data Makes Scarcity Smarter

Modern analytics have made limited-release strategies farmore sophisticated.Companies nowuse purchasing history, customersegmentation, predictive analytics and AI-driven demand forecasting to determine production volumes with remarkableprecision. Rather than relyingon intuition, businesses can estimate demand more accurately and optimize releaseschedules. This reduces the likelihood of significant shortages whilestill maintaining the benefits of controlled inventory.

For B2B organizations, integrating CRM data, historical purchasing patterns and market intelligence can help determine when limited offerings make strategic sense

AMargin Strategy,Not aMarketing Gimmick

As economic uncertaintycontinues to pressure profits, executivesare increasingly focused on pricing discipline rather than simply growing volume.Thatiswhere thelessons from drop culture become especiallyvaluable.

complicated, but it hastobeintentional: Define scope,term, channels, usage,approvals and ownership,and make sure the remedies match real-worldbusiness outcomes.

Q: In your view,isthe creator economy here to stay?

Riihimaki Yes, absolutely.My14years as acontent creator is atestament to the longevity this career canhave,and Ithink it’sonlygaining momentum now that the industryand infrastructure have caught up.Audience behavior also reinforces that staying power.Peopleare increasingly seeking connectionand community, and creators are uniquely positioned to provide that.While there’s alot of conversation around “the algorithm”and the mysterious ways it works, I’ve found that platforms are actually getting better at surfacing content to the people who genuinely care and want to engage.All of those elements working in tandem is what makesthe ecosystem sustainable long-term.

-PaulWilliams

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“Scarcity is ultimately an exerciseinsaying no to overproduction,”added Myers. “Itprioritizes profitabilityover market saturation. It protects pricing instead of relying on discounts. It turns launches into events rather thanroutine transactions.And perhaps most importantly, it aligns production more closely with actual customer demand.”

LosAngeles companies may have popularized scarcitythrough sneakers, streetwear,craftbeer and entertainment collectibles, but the underlying principles extend farbeyond consumer products.

“For manufacturers, software developers, industrial suppliers, healthcare companies,consulting firms and nearly everyother B2B sector,the takeaway is clear: scarcityisnot about hype —itisabout discipline,” said Myers.

“In an era where businesses are striving to preserve margins, reduce waste and improve forecasting,”hesaid, “the most valuable lesson from thedrop economyisn’t creating the next viral product release. It’s recognizing that sometimes the smartest way to grow isn’t producing more.It’s producing exactlyenough.” ▐

-Paul Williams

VISIONARIES

Business by LA TimesStudios is honored to presentthe 2026Private Equity andM&A Visionaries. Navigating today’sdynamic economic landscaperequires far more thansimplecapital –itdemands battle-tested leadership,tactical precision anddeep strategic foresight.The privateequityand M&Aleaders highlighted on the following pagesrepresent the premier architects behind middle-marketliquidity, corporateturnaroundsand enterprise transformation.Bringingdecades of specialized experience to the deal table,these leadersand advisorsserve as vital catalystsfor growth andstability.

For these visionaries, influence extends farbeyond individual balance sheets. By safeguarding legacies, steering multi-million-dollarexits and mentoring through organizations, these individualshavestabilized vital sectors, mobilized capital and powered long-term economicresilience across thebroader business community. Read on to learn about their professional achievements and vital business connectionsfromthe last 24 months.

Mike ACCORDINO

Managing Director LB Advisors

Mik eA ccordino is themanaging director at LB Advisors, where he focuses on distressed investing, specialsituations, restructurings andvalue creation.Hebrings18yearsofindustry experience,including eight years with thefirm.Before joining LB Advisors, he founded Playa Capital Partners andserved as itsmanaging partner. Earlier, Accordino was thevicepresident andco-head of the Tactical OpportunitiesGroup at Rimrock Capital Management, overseeing distressed debt,special situations and direct lending investments. He previously worked in Cerberus CapitalManagement’s Distressed Debt Group andbegan hiscareer in investment bankingat Peter J. Solomon Company.Healso ledAmfuel’soperational turnaround afterits acquisition out of bankruptcy and continuestoguide the company as president and board director

Trever ACERS

Managing Director &Founder Objective, Investment Banking &Valuation

Trever Acers is the founder andmanaging director of Objective,Investment Banking & Valuation,where he advises middle-market companiesontransaction strategy andexecution. He brings 21 years of investmentbanking, acquisition and strategyexperience,including 14 yearswith Objective.Over thepastfive years, Acers has closed more than 25 sell-side transactions while helping drive the firm’srevenue growth. Hisregional leadership extends across Southern California’sM&A community, whereheregularly speaksfor the Business TransitionForum,ExitPlanning Institute, Tech San Diegoand Association forCorporateGrowth. Beforefounding Objective,heled consultingoperations at TGGCapital and held investment roles with The OxfordInvestment Groupand Passage VentureCapital Partners. Earlier,Acers managedthree acquired entities generating$29 million in combined annual revenue

AShahriar ATTAIE

Founder & Managing Partner

Full Send Partners

Sha hria r

Partner Greenberg GluskerLLP

ndrewApfelberg is apartneratGreenberg Glusker LLP,whereheadvises middle-marketcompanies, family offices and high-net-worth individualsoncorporate matters andmajor transactions. He brings 28 years of industryexperience, including 14 yearswiththe firm, with particulardepth in branded consumer products, manufacturing, distribution and professional services. Apfelberg’srepresentativeworkincludestransactions involvingLiquid I.V.,Unilever, FIJI Water, OPI, ChemicalGuys, LegalZoomand Cargill. He also has held extensive leadership roles withthe Association forCorporate Growth (ACG), includingservice on its globalboard,executive committeeand strategic planning committee. His communitywork includes co-founding Change4 Children’sFoundation andserving AngelCity Impact,U.S. Soccer and the WyomingSoccerAssociation.

“Shar” Attaie is the founderand managing partner of Full Send Partners,where he advises founder-ledcompanies,private equityfirmsand strategic buyerson mergers, financings, growthstrategy andspecial situations. He brings 25 yearsofinvestmentbanking experience fromHoulihanLokey, Intrepid Investment Bankers, FocalPoint Partners andLibra Securities. Attaie founded Full Send Partners in 2023 to give middle-market businesses senior-level advice with direct partnerinvolvement. Thefirm’s work includes Daring Foods’cross-border acquisitionbyv2food andAjinomoto and Wild Tribute’s saletoL2 Brands, which preserved its conservation mission. He also contributes to Southern California’sdealmaking communitythrough ACGLos Angeles and within twoyears of launch, Full Send Partners completed five transactions ranging from approximately $20 millionto$100 million.

Andrew APFELBERG

To

Full

We combinedeep sector expertise,senior-level

complex

Truetoourname,webringthefullcommitmentandresourcesofthefirmtoeveryengagement.

Ryan Jon BARNCASTLE

Partner &Private Equity Co-Chair Barnes &Thornburg

Rya nJ on Barncastle is the partner and private equityco-chair at Barnes&Thornburg, where he leads anationalteam advising funds, independentsponsors,familyoffices and strategic buyers on complex domestic and cross-border transactions. He brings 20 years of experience across acquisitions, carve-outs, financings, fund formationand cross-border deals. His recent work includes representing Sporos Capital Partnersin investments tied to X-Energy,Axiom Space andQuantum Space,alongside technology-enabled diligence for Atar Capital’sClarvidaportfolio company. Barncastle alsoserves on the firm’s managementcommittee and the advisory boards of the LosAngeles Sports &Entertainment Commission and Make-A-Wish GreaterLos Angeles. TheLos Angeles Business Journal named hima 2025 Dealmakerofthe Year finalist. Furthermore,X-Energydebuted on Nasdaq at an $11.9-billion valuation.

Trent BRYSON Chief Executive Officer

BrysonFinancial

Trent Bryson is the chief ex ecutive officer at BrysonFinancial,where he has grown the firm into amultidisciplinaryplatform serving individuals,families, business owners and private equity partners. He has expanded the firm’s reach within private equity, partnering with sponsors and portfoliocompanies on riskmanagement, insurance strategy and executive-levelfinancial planning. This approach has helped afacilities maintenance portfolio company cut insurance premiumsbymore than $576,000 while improving coverage and produced employee benefits savings exceeding $500,000 for other PE-backed businesses. Bryson supports Boys &Girls ClubsofLong Beach and previously taught at California StateUniversity, Long Beach, mentoring emerging professionals. An endurance athlete,hehelped the USAsecure team gold at the 2025 World Masters Championships in Cross Country.

Russ BELINSKY

Co-Founder & Managing Partner

LB

Advisors

Russ Belinsky is the co-founder and managing partner of LB Advisors, where he focuses on private equity, restructuring and value creation across distressed and underperforming businesses. He brings22years of industry experience and, in addition, six years with the firm. Belinskypreviously co-founded Balmoral Advisors,a deep-value private equity firm that achieved top-decileperformance through restructurings, turnarounds andspecial situations.Earlier,heco-founded Chanin Capital Partners,aspecialty investment banking firmlater acquired by Duff&Phelps.Hethen served as senior managing directorand co-leaderofDuff &Phelps’restructuring advisory practice, guiding companies through complexfinancial andoperational challenges. Belinsky’s background combines legal, financial andoperational judgment across complex lower-middle-market investments andrestructurings. In 2006, Chanin Capital Partners completed its sale to Duff&Phelps.

Partner at Norton Rose Fulbright US LLP

James BERGER

Partner

Norton Rose FulbrightUSLLP

James Berger has spent more than 12 years guiding California energydealsfor sponsors, lenders andequity investors financing and developing renewable projects. He hasbuilt a reputation as aleading renewable energy attorney, closing wind,solar andbattery storage transactions nationwide forclients including The AES Corporation, Harbert Infrastructure,Orsted andPGGM. Berger’spractice spans single-projectacquisitionstofull portfolioand company-wide dealsacrossmultiple technologies.This record led to his mostrecent transaction, representing aprivate equity fund in the acquisition of alargebatterystorage project under construction in the Southwest. He also serves on thefirm’s Attorney Evaluation Committee, shaping development programs for associatelawyers and mentors junior attorneys as a developmental partner within the projects group

Dominic CHAN

Managing Director,Headof Global Financial Sponsors

Berenson & Company

Dominic Chan serves as managing director and headofglobal financial sponsors at Berenson.Hebegan his career at Goldman Sachsand hasspent more than 15 yearsadvising private equityfunds, venture capital funds, and family offices, working with firms including Apax Partners, Insight Partners, andBlackstone.Chan’s teamadvised on Govini’s$150-million equity raise from Bain Capital andAalyria’s$100-millionSeries Bfrom Battery Ventures He previously led sponsor coverageatVaquero Capital,expanding itsreach to more than 400 financial sponsors. He serves on the Philharmonic Councilofthe LosAngeles Philharmonic,and wasnamed the2022RisingStarDealmaker at the Global M&A AtlasAwards, the 2023 Emerging Leaders AwardbyThe M&A Advisor, andwas recently named by theLos Angeles Business Journal 2024 Investment Bankers andM&A 2026 Leaders of Influence

CStephen BRADFORD

Partner; Chair, Corporate & Business LawGroup Musick,Peeler &Garrett LLP

Named a Lawdragon 2026 Leading DealmakerinAmerica, Stephen Bradford is partnerand chair of the corporate andbusiness law group at Musick, Peeler &Garrett LLP,where he also sitsonthe firm’s executive committee.Headvises public and closelyheld businessesthrough global expansion, restructuring and high-stakes succession, serving as lead counsel on marqueetransactions spanning government contracting, marinas, mining, timberland, ranchland, alternative energyand food processing. Bradford previously served on the J. Reuben ClarkLaw Society’sLos AngelesBoard,supports the HowardW.HunterFoundation’s endowed professorship at Claremont GraduateUniversityand extends his philanthropytoGhana,aiding undernourished childrenthroughthe BountifulChildren’sFoundation. Over the past five years, his dealmaking has generated transactions exceeding $1.5 billion for private equity, venture capital andfamily officeinvestors

Candice CHOH

Partner,Co-Partner in Charge of the Century City &Los Angeles offices andCo-Chair of GP Solutions Practice Group Gibson, Dunn &Crutcher LLP

CLeon CHEN

Managing Partner &Co-Founder Composition

Capital Partners L.P.

o-Founder andManaging Partner of Composition Capital Partners L.P.Leon Chen leads strategic vision,deal executionand portfolio board oversight at the LosAngelesbased growth private equityfirm focusedon technologyinvestments. Before Composition, he wasmanaging partner of KayneAnderson GrowthCapital, rising from senior associate to partner in undera decade and helping grow the platform into fiveequity funds representing more than $1 2billion in assets under management. In 2024, Chen led theteam’stransitioninto Composition, which now targets lower middle-market opportunitiesacross financial services, healthcare and supply chain and logistics. He hassold portfolio companies to buyers including VistaEquity, HGGC, AT&T and Cisco and supports organizations serving underprivilegedyouth.Chenhas held or currently holds atotal of 15 boardseats across portfoliocompanies spanning technology, healthcareand logistics.

o-PartnerinCharge of Gibson, Dunn &Crutcher’sCentury City andLos Angeles offices, Candice Choh also co-chairs the firm’sGPSolutions PracticeGroup She advises private equity sponsors and family officesonfundformation, co-investments, secondary transactions and firm governance,alongside abroad M&A practice.Choh’s recent matters include advising the Abu Dhabi Investment Authorityonits stakeacquisition in Qlik from Thoma Bravo and representing Westwood Professional Services in its majority sale to Blackstone.She sits on Gibson Dunn’s Hiring Committee and previously served as acommissioner on the LosAngeles Convention Center Authority. In addition, she counselsnonprofits including the Barbara Bush Foundation for Literacy and the Center Theatre Group.Choh also advised SCI Capital Partners on a $1.6-billion investment from funds managed by Apollo.

Will Sarat CHUCHAWAT Partner,Co-Leader of Mergers and Acquisitions Practice

BakerHostetler

Apartner and co-leader of the mergers and acquisitions practiceatBakerHostetlerinLos Angeles,Will Chuchawat hasclosed more than 500transactionsovertwo decades for private equity firms, venture capital firms and publiccompanies acrosstechnology, healthcare,aerospace and defense and life sciences. He has led M&A practices atthree Am Law100 firms and launched BakerHostetler’slife sciences and aerospace and defense practices. Recent matters includeadvising on Eclat Health Solutions’acquisition from GulfCapital and Trinamix’ssale to AEA Elevate.Chuchawat hasfounded or co-foundednine companies spanning AI, blockchain and healthtech and serves as past chair of YPO BeverlyHills andco-chairofYPO’s Impact Investing Initiative.Hewas named theLos AngelesBusiness Journal’sLeader of Influence: M&A.

Paul Warren CLAUSING

Managing Director

Fluential

Partners LLC

Leading morethan50transactions totaling over $8.5 billion, Paul Clausing is amanaging director at Fluential Partners,aboutiqueinvestmentbankinSouthernCaliforniawith more than 25 yearsofexperience in investment banking and corporate finance.Hebeganhis careeratING Barings before rising from analyst to senior vice president in Jefferies &Company’s technologyand mediabankinggroups.Clausing later served as vice president of finance at Velti plc, leading two public equityofferings, a$50-million credit facility andfour acquisitions beforeits sale to GSO CapitalPartners. Since joining Fluential in 2020,hehas closed structured finance mandates across renewable energy and middle-marketcredit, including amulti-hundred-million-dollar financing for asolar developerprojected to cut power costsbyupto80%.

HNishita CUMMINGS

Managing Partner &Co-Founder Composition

Capital Partners L.P.

Michele CUMPSTON Partner

Kirkland &Ellis LLP

Pelping grow KayneAnderson Growth Capital to 50 platform investments and 27 exits acrosssix funds, NishitaCummings is the managing partner and co-founder of Composition Capital Partners L.P., aLos Angeles-based growth private equityfirm focused on technology investments. She leadsthe firm’s strategic vision, sourcing and portfolio board oversight. CummingsjoinedKayne AndersonCapitalAdvisorsasanassociate, wasnamed co-head of its growth equitystrategy in 2016and wasappointed to Kayne’sboard ofdirectors in 2021.In2024, she led the team’stransition into Composition, which now targets lower middle-market opportunities across financial services, healthcare andsupplychain andlogistics. ShevolunteerswithHabitatfor Humanity and CoachArtand hasserved as aboard member or an observerfor more than 20 software companies, including CreatorIQ and Zafin

CongratulationstoRyanJ.Barncastleforbeing recognizedasa2026PrivateEquityandM&A VisionarybyLATimesStudios.Thisrecognition reflectsthesharpjudgment,deal-makinginstincts, andclientdedicationhebringstoeverytransaction.

900+Lawyers|25+Offices|50+Practices|btlaw.com

artner at Kirkland &Ellis LLP in Los Angeles, Michele Cumpston focuses her practice on mergers and acquisitions, private equity andcorporategovernance, representingbuyers, sellers,private equityfunds andfinancial institutions across leveraged buyouts and recapitalizations. She mentorsjunior lawyers at Kirkland andserves as an alumni mentor at Stanford and UCLA. Over the past 24 months, Cumpston hasled dealsworthmore than $16 billion for clients including Francisco Partners,Oaktree CapitalManagement and Varde Partners, including Francisco Partners’acquisition of AdvancedMD from Global Payments and its pending $850-million Canadian acquisition of Blackline Safety. Shealsoadvised VardePartners’ Trimont on its deal to acquire Wells Fargo’s commercial mortgage servicing business, positioning Trimont as the largest servicer of $640 billion in U.S. loans.

Matt CWIERTNIA

Partner &Headof Private Equity Ares

Overseeing nearly $7 billionin capitalacross Ares PrivateEquity’s two most recent flagship fund vintages, Matt Cwiertnia is apartner and head of theAresPrivateEquity Group in LosAngeles. He became head of the group in 2019 and has personally led or played asenior role in investmentsgenerating nearly $7.5 billion in gross realized proceeds to date.Cwiertnia serves on six portfolio companyboards, including as chairman of ConvergintTechnologies and as aboard member of Ryan, businesses withcombined FY2025 revenueofapproximately $4.7billion.Healso sitsonthe Ares Operating Committee and the board of advisors for UCLA Anderson School of Management. Under hisleadership, Ares PrivateEquity’s employee ownership programs have generated approximately $1.5 billion in distributions to portfolio company employees.

JoshuaR DRISKELL Partner

Lagerlof, LLP

Joshua Driskell is the managing partner of Lagerlof,LLP and chairofthe firm’sprivate client services department, advising high-networth individuals, businessowners, family offices andmulti-generational families on wealthtransfer, business succession and taxminimization strategies. Since becoming managing partner,hehas leda period of strategicgrowthand modernization at oneofSouthernCalifornia’s oldest law firms, expanding its privateclient and litigation practicesthroughout the region. Driskellguides business owners through ownershiptransitionsand tax-efficient exit strategies for closely heldcompanies. He serves on the boardofdirectors of the Pasadena FireFoundation andasa trusteeofthe Pasadena Museum of History andleadsthe firm’s charitableinitiative,Lagerlof Cares. He previously chaired Leadership Pasadena during his 12 years with the firm.

Aytan DAHUKEY

Partner

Sheppard

Named to an M&ADealofthe Year by The M&A Advisor,AytanDahukey is apartner at Sheppardfocused on mergers andacquisitions andprivate equity transactionswith deep roots in healthcare.Heled the Sheppard team representing Owens Design, acustom automation provider for the semiconductor, medical device,datastorage and renewable energy industries, in its acquisitionbyAutomatedIndustrial Robotics Inc., an Ares Management-backed platform.Dahukey alsoadvised U.S. Neurology Associates on its affiliation with TexasInstitute for Neurological Disorders, anchoring USNA’s inauguralinvestmentinthe Dallas-Fort Worthmarketand handlespro bono adoption cases through the Public LawCenter’sChildren’s Rights Program.Heregularly counsels longstanding client OneOncology LLC, most recently representing the company in the sale of amajorityinterestinits parent by TPGtoCencora Inc.

FEva DAVIS

Managing Partner, External Affairs

Winston Taylor

RJames F. DAVIDSON President & Founder Avant Advisory Group

ounder andPresident of AvantAdvisory Group James Davidson has spent more than 35 years advising middle-market companies through M&A, financial restructuring, forensic accounting and interim executive leadership.He hasserved as an investor,partner,shareholder and boardmember across more than25companies, holdingexecutive rolesincluding CEO, CFO,COO andcorporate controller for businesses ranging from entrepreneurial ventures to multi-billion-dollarfirms. Davidson is afounding member of the Southern California chapterofthe PrivateDirectors Associationand hasservedonthe boards of Reborn Home Solutions and SmartLife Insurance Holdings.Hehas overseen thesales of Rolling Green Inc,Elite Global Solutions and Reborn Cabinets, most recentlyleading the Section 363acquisition of Ravn AirAlaskaout of bankruptcy by FLOAT, Inc.

Scott R. EHRLICH

Partner; Co-Chair, Corporate Department; Department Head,Mergers & Acquisitions Practice Sklar Kirsh LLP

Co-Chair ofSklar Kirsh’s Corporate Department and Department Head of its Mergers and Acquisitions Practice Scott Ehrlich concentrates on corporateM&A and finance transactionswith an emphasis on entertainment and media, representing clients across buy-side and sell-side deals, joint ventures and venture capitalfinancing rounds. He joined SklarKirsh after nearly nine years as general counselofDeluxeEntertainment Services Group, where he oversaw post-production and distribution technologydeals worldwide Ehrlichteachesbusinessplanning as an adjunctprofessoratLoyolaLaw School andserves on the boardoftrustees forthe United JewishFederationofUtah. He recently represented Worldwide Golf Group in its acquisition of Big 5Sporting Goods Corporation and wasnamed to Lawdragon’s 2025 list of Leading Dealmakers in America

Decognized as aTop Womanin Dealmaking by TheDealand a repeat Lawdragon 500Leading Dealmaker,Eva Davis is the managing partner of external affairsat Winston Taylor andamember of the firm’s executive committee.She leads anational branded consumer products practice focused on the better-for-youfood, beverage and wellness sector,previously serving as Winston’s LosAngeles managing partner andchair of its 450-lawyer transactions department.Over the past 24 months, Davis served as leaddeallawyer for GHOSTLifestyle’s $1.65-billionsale to Keurig Dr Pepper,LesserEvil’ssaletoThe HersheyCompany and Good Culture’s majorityinvestment from LCatterton She previously chaired Read to a Child’sLos Angeles Regional Board of Directors andnow serves on its advisoryboard, earning the nonprofit’s2021 Lifetime Achievement Award and advances board diversity through 50/50 Women on Boards.

Steve FRIED

Principal &Head of Originations

MesaWest Capital

SRobert FOX

Managing Director,Private Equity McGuireWoods

rawing nearly 980 attendees to April 2026’s EMC BuyoutsConferenceatthe Ritz-Carlton Dallas, Robert Foxserves as director of business development for McGuireWoods LLP’sEmerging Manager Program, connectingfund managers with dealmakers and capital allocators across the private equity ecosystem. He has spent more thana decade building McGuireWoods’business development platform, co-leadingthe Emerging Manager Conferencesince2023 as it evolved from the firm’s long-running Independent Sponsor Conference.Fox is now launching anew conference,Beyond Buyouts, opening in DallasinSeptember 2026 to serve venture,growthequityand private credit strategies. He serves on the board of YPO’sPacific Starschapter and wasnamed a2022 Leader of Influence in Private Equity,Investors&Advisors by the LosAngeles BusinessJournal.

teve Fried is aprincipal and head of originations at Mesa West Capital, where he oversees national loan teams in LosAngeles, New York, Chicago andSan Franciscothat originate approximately $3 billion in mortgages annually.Hepreviously co-led the firm’s West Coast andMidwest originations with current co-CEO Ronnie Gul and sits on Mesa West’sinvestment and management committees. Since inception, Mesa West has closed more than 450 transactions totaling over $29 billion, including nearly $1 billion in loans since January 2026 across multifamily, industrial, hospitalityand student housingassets. Fried supports the UrbanLandInstitute andMortgage BankersAssociation and is active with Make-A-Wish Greater LosAngeles.His recent financings include a$52.85-million loanrefinancing a 351,238-square-foot industrial portfolio in Riverside,California.

Robert P. FRIEDMAN

Shareholder CarltonFields

Found er of his own real estate practice as the 1990s recession ended, Robert Friedman is now ashareholder at Carlton Fields, where he leads the firm’s LosAngeles real estate practice and advisescommercial developers, property owners and businesses on complextransactions. With more than 40 years of experience,hehas structured high-value dealsincluding apromoted partner’snearly $500-million sale of partnership interests across nine shopping centers and a$46-million, 75-year ground lease for amajorLos Angeles housing project. In 2024,Friedman oversaw three significant Californiaacquisitions for Primestor Development and has served morethan30years on Culver City’sTurning Point School BoardofTrustees, nowaspresident He recently representedPrimestor on construction loansfor retailand housing totaling $140million.

Bryan S. GADOL Partner; CaliforniaHeadof Corporate,M&A and Private Equity

Holland &Knight

Representing Lucky Scent in its sale to Monogram Capital and EyasCapital in its acquisition of 120 Bojangles locations, Bryan GadolservesasHolland &Knight’sCalifornia head of corporate,M&A and private equity from its Newport Beach and CenturyCity offices. He advisesfounders, private equity fundsand family officesacrosstechnology, consumer products, healthcare and aerospace and defense,closing significant middle-market deals including CFO’s Domain’ssale to SolomonEdwards and Tripleclix’ssale to Creative ArtistsAgency. Since joining Holland &Knight in 2021, Gadolhas builtthe firm’sCalifornia corporate and privateequity platform,recruiting ateamofmore than10professionals andsits on the firm’s Private EquitySteering Committee.He also chaired Gen Next’sBoard of Directors and hosts the firm’s annual Southern CaliforniaBusinessTrend Luncheon.

SScott GALER Partner and Co-Chair of the Mergers & Acquisitions Practice

Stubbs Alderton &Markiles, LLP

Michelle R. GENERAUX

Co-Managing Partner

Murtaugh LLP

Ccott Galer is apartner and co-chairofthe Mergers &Acquisitions Practice at Stubbs Alderton &Markiles, LLP,where he has spent more than 20 yearsadvising middlemarket and emerging growth companies. He counsels public and private companiesonmergers, stock and asset acquisitions, roll-up and spin-offtransactions, debt andequity financings, secured lending arrangements and securities offerings,along with complexbrand and technologylicensing agreements. Galer guides emerging growth companies from formation through venture capitalfinancing and equity incentive arrangements He holds aJ.D.from Harvard LawSchooland serves as aboard member of the Association forCorporateGrowth’s 101 Corridorgroup,fostering connections among business leaders andinvestors.Hehas spentmorethantwo decades mentoring associates at the firm

o-Managing Partner of Mu rt au gh LLP Mich el le Generaux advises architecture,engineering and design firms on the M&Atransactionsand ownership transitions that define their futures from the boutique firm’s Irvine headquarters. Over the past 24 months, she represented a750-employee architectural firm in its acquisition of design service assets from apublicly traded real estatecompany andserved as leadcounseltoa Californiainfrastructure contractor in itssale to aprivate equity firm. Generauxservesasoutside general counseltomultiplearchitecture and engineering firms and as president of theNotre DameClubofOrange County.She hasguidednumerous engineering firms through ownership salestopublicly traded companies, structuring F-reorganizations andcoordinating rolloverfinancingand has led Murtaugh as managing partner for more than 10 years.

Eric GOLDEN

Founder & Managing Partner

Fluential Partners LLC

Named Investment Banker of theYear at the L.A. Business Journal’s 2025 M&A Awards, Eric Goldenisthe founder and managing partnerof Fluential Partners, aSantaMonicabased investment bank focused on M&A and capital raising forthe middle market. After graduating from HarvardLaw School, he served as special counsel to the chairman of MacAndrews &Forbesbefore becoming EVP and general counselof Panavision. Golden left in 2005 to acquirefilm equipment businesses, partneringwith Steadicam inventor Garrett Brown to found Equipois, which won the L.A. BusinessJournal’s2010 Soon-Shiong Innovation Award. He foundedFluential in 2020 andin2025the firm closed the first tranche of amulti-hundred-milliondollar financing for autility-scale solar developer projected to cut power costs by up to 80%.

Jonathan HODES

Partner and Co-Chair of the Mergers & Acquisitions Practice

Stubbs Alderton & Markiles, LLP

Partner and Co-Chair of the Mergers &Acquisitions Practice at Stubbs Alderton &Markiles, LLPJonathan Hodes has spent more than50 years advisingclientsonbuy-side and sellsidedomesticand internationalM&A, managementbuyouts,leveraged recapitalizationsand secured lending transactions.Heguides emerging growth companies from inception through venturecapital financing toward an eventual sale,merger or IPO and devotes timetoprivate equity add-on acquisitions and portfolio company dispositions. Hodes serves as outsidegeneral counseltocompanies across manufacturing, biologics, consumer goodsand hotelownership, advisingonfund formation, corporate governance and executive compensation. He has represented public and private real estate developers on major Southern Californiaprojects and financing transactions.

Ronnie GUL Co-Chief Executive Officer MesaWest Capital

RonnieGul is the co-chief executive officer of MesaWest Capital, serving alongside co-CEO Raphael Fishbach since 2023. He oversees alending portfolio spanning allmajor propertytypes with loansizes ranging from $20 million to $400 million and hasdriven Mesa West’sgrowth froma West Coast debtplatform into oneofthe premier U.S. commercial real estate lenders since being named principal in 2010.Since inception, thefirm has closedmore than450 transactionstotaling over $29 billion, including nearly $1 billion in loans sinceJanuary 2026 across multifamily, industrial, hospitality and student housing assets.Gul previously spent four years in businessdevelopment at media firms backed by NBC and Universal Pictures. In the second halfof2025 alone,the firm originated approximately $880million in loans.

NJordan HAMBURGER

Partner &Private Equity Team Co-Leader

Sheppard

Managing Director Objective, Investment Banking &Valuation

Camed to theLos Angeles Business Journal’s 2025 list of Leaders of Influence: Private Equity, Investors andAdvisors, Jordan Hamburger is apartnerand co-leader of Sheppard’sglobal 300-attorneyPrivate Equity team. With more than 22 yearsofexperience, he advises private equityfirms, corporations and entrepreneurs across aerospace anddefense, healthcare andfinancial services.InAugust 2025,Hamburger represented ChimneyRock EquityPartners in its acquisition of Aeromax Industries and in December 2025herepresented NEOTech in its sale to Arkview Capital.Healso co-led CarolwoodLP’sacquisition of the Indian Motorcycle business from Polaris Inc. Beyond hispractice, he hasvolunteered more than 100hours at legal clinicsserving U.S. veterans. Hamburger is an inaugural member of the LosAngeles General Hospital Foundation’s Board of Trustees

Stanley HUANG

Managing Director Atar Capital

Guiding Atar Capital’saffiliate WinCup through its 2025 acquisition of Conver Pack Inc., StanleyHuang is the managing directoratthe LosAngeles-based privateinvestment firm specializing in complex carve-outs andlower middle-market buyouts. He built his foundation at PricewaterhouseCoopers, McGladreyand Duff&Phelps before evaluating deals at Platinum Equity and serving as CFO of Revolution Capital Group.AtAtar, Huang leads financial and operational due diligence onnew investment targets and structures deal financing with lenders and capital partners,while serving on the boardsof Solero Technologies, WinCup andClarvida. In January2026, he contributed to Atar’saffiliate Keypoint Intelligence acquiring France-based DataMaster Online andthatsame month supportedthe management buyout exit of Frontier Integrity Solutions after anine-year partnership

Partner inWillkieFarr &Gallagher’sCorporate&Financial Services Department andEntertainment Transactions Practice

Steve HURDLE Partner,Corporate &Financial Services

Willkie Farr & Gallagher LLP

Steve Hurdleadvises investors andcompanies on mergers and acquisitions, strategic relationshipsand equity offerings across media, technologyand consumer products. He hasbuilt particular experience guiding celebritiesand entertainment companies through businessformation, fundraising and business combination transactions. In May 2026, he advised 32 Flavors and founder Alex Baskin on the saleofa majoritystake to SonyPictures Television and in March 2026 he representedInterPositive andfounder BenAffleck in itssaletoNetflix. Hurdle also advised Shadow Lion, thestudio co-founded by TomBrady, on astrategic investment from FoxSports. Hisworkhas earned repeated recognitioninVariety’s LegalImpactReport andDealmakers Impact Report.

o-Founder andManaging Director of Objective,Investment Banking &Valuation Channing Hamlet has spent more than 25 years advising business owners, private equity groups andmanagementteams through mergers, acquisitionsand liquidityevents. He leads the firm’s business services andlifesciences investment banking practices and serves as aboard member of the Exit Planning Institute and the Entrepreneurs’Organization. Hamlet also chairs the Development Committee for Reality Changers, anonprofit preparing underserved youth to become first-generation college graduates. In thepast fiveyears, he hasclosed more than 25 sell-side transactions, including advising 360 Destination Group on its sale to H.I.G. Capital, oneofthe largestmergers in the destination management sector, and SterndahlEnterprise’s sale to Frontline Road SafetyGroup

Bryan IKEGAMI

Partner,Global Corporate Group

Reed Smith LLP

Named a“Key Lawyer” by The Legal 500 US for M&A/Corporate and Private EquityBuyouts, Bryan Ikegami is apartner in Reed Smith LLP’s GlobalCorporate Group,resident in the firm’s Century City office.He represents privateequityfunds and their portfoliocompanies in complex domestic andcross-border mergers, acquisitions,divestituresand recapitalizationsacrossaerospace and defense,financial services, energy andtechnology. Ikegamijoined Reed Smith after serving as regional head of M&A and private equityat Winston &Strawn, where he led the firm’s West region private equity practice.IFLR1000 recognized him as aNotable Practitioner for2024 to 2025 andwas anominee for Dealmaker of theYear at theLos Angeles Business Journal’s 2025 M&A Awards.

Robert L. KAHAN

Partner, Corporate Law

BlankRome LLP

Robert Kahan is apartner in Corporate LawatBlank Rome LLP,where he has spentmore than five decades advising clients on private equity transactions and mergers and acquisitions. He previouslyserved on the board of directors for the Tony Hawk Foundation, now The Skatepark Project, expandingaccesstorecreational spaces for youth in underserved communities. Kahan hasalso served as atrustee for both the Landmark School and the Windward School, supporting educationalopportunities for students with diverselearningneeds.Heisa past chairofthe California State Bar’sFranchise Law Committee andpreviously served on theInternational Franchise Association’s Legal/Legislative Committee, extending hisengagementtoCityof Hope’s InnerCircleand the Legal Aid Foundation of LosAngeles

Taisuke KIMOTO

Partner &Co-Lead JapanPractice

Covington & Burling LLP

RepresentingTerumoCorporation in its $1.5-billion acquisition of U.K.-based OrganOx, Taisuke Kimotoco-leads Covington &Burling LLP’sJapanpractice,advising Japan’s largest corporations on complexcross-border matters in theUnitedStates, Europe andChina His practice centers on M&A transactions, corporatematters and real estate dealsfor Japanbasedcompanies and he serves as outside U.S. general counsel for several Japanese clients. Since 2021, Chambers Global/USAhas recognized Kimoto among the leading lawyers for Corporate/M&A Deals in Asia.His recentmatters include representing Shibaura Machine in its $150-million acquisition of Moore NanotechnologySystemsand advising PanPacific Retail Management on its acquisition of Mikuni Restaurant Group’snine sushi restaurants. He servesasa jurisdictional councilmember for the United States with the Inter-Pacific BarAssociation.

DKate KRAUS Partner

Covington& Burling LLP

Part ner at Covington &Burling LLP Kate Kraushas more than 20 years of experience in taxplanning and structuring across partnerships, corporations and real estate.She advisedonJustin Ishbia’s investment in the Chicago WhiteSox,valued by Forbes at approximately $2 billion, and on theMiller family’s buyout of its remaining interest in the Utah Jazz,valuedat$3.55 billion.Kraus recently restructureda platformjoint venture holding approximately $2.5 billion of real propertyand aforeign partnershipholding more than$8 billion of pharmaceuticalassets. Shehas advisedonthe transfer of more than $1 billion in energytax credits under theInflationReduction Act and closed over $1 billion of Opportunity Zone funds. She also chairs theAmericanBar Association TaxSection’s Real Estate Committee.

Advisory &Partnerin-Charge–Los Angeles EisnerAmper

PDena KLOTZ

Partner

Lagerlof,LLP

enaKlotzisa partner andmanaging attorneyofLagerlof, LLP’sEncino office,advising business owners, families and family officesonwealth planning,business succession andtrust administration. Withmore thanthreedecadesofexperience,she guides clients through mergers, acquisitions, ownership transfersand liquidityevents. Klotzhas ledthe growth of Lagerlof’s Encinoofficeinto atrusted resource for high-net-worth familiesnavigating generational transfers. Alicensed Californiarealestate broker who also holds a master’sdegree in marriage and family therapy, she appliesa multidisciplinary lens to the familydynamics that shape succession planning. She washonored withthe SuccessinBusiness ImpactAward by theGreater SanFernandoValley Chamberof Commerceand nameda LosAngeles Business JournalLeaderofInfluenceinM&A

Ramez KRISHNAN

Partner

Hahn& Hahn LLP

Ramez Krishnan is apartner in Hahn & Hahn’sBusiness Department, advising private equityfunds, family offices, venture andgrowthinvestors,foundersand operating companiesonmergersand acquisitions,equity financings,buyouts andjoint ventures.Healso represents management teams andexecutives on buyouttransactions andequitycompensation matters. Drawing on experience at AmLaw 50 firms in both California andLondon, Krishnan bringsapragmatic, commercially focusedapproach to complex domestic and cross-border deals, helpingclientsbalance legalprecision with businessjudgment. His practice spans minorityinvestments and general corporate matters and clientsrelyonhim to keep transactions moving efficientlyfrominceptionthrough closing. He hasbuilt his practice around 12 years of transactional experience in privateequityand venture capital spaces.

Rar tn er -i nCharge of EisnerAmper’s LosAngeles office andPartner in its Transaction AdvisoryServices practice Paren Knadjian hasclosed more than 300 transactions with a combined value exceeding $3.5 billion.Heleads majorengagements across manufacturing, distribution, SaaS andlogistics, guidingfounder-led companies, private equity sponsorsand family officesthrough high-stakes deals. Before joining EisnerAmper,Knadjianserved as principal at KROST, leadingits M&Aand Capital Markets group and managing the firm’s 2024 merger into EisnerAmper,which required reviewing 28 separate legal agreements. He previously served as CEO of two SaaS companies andCFO across healthcare,marketing and entertainment sectors. In arecentstorage and shipping transaction, he introduced competitive tension that increased valuation by 12.3% within two weeks.

Veronica LAH

Partner

Manatt, Phelps &Phillips, LLP

PAlon LAGSTEIN

Shareholder Carlton Fields

epresenting an investor group including John Mayer anddirectorMcG in theacquisitionand leasebackofthe historic Jim Henson Company lot, Alon Lagstein is ashareholder at Carlton Fieldsadvising developers, investors, lenders and landlords on real estate acquisitions,sales, leases and financings. He handledthe debt andequity financingfor the January2026 deal,which rebranded the propertyasChaplinStudios. Lagstein also represented Primestor Development on a$140-million construction loan for The Walk,a mixed-use projectinNorwalkexpectedtobecomethe largestmodular development in North America, navigating amanufacturer switch from Chinato Mexico to mitigatetariff exposure.HevolunteerswithNoHo Home Alliance,supporting community-based solutions to homelessnessinLos Angeles.

artner in Mana tt’ s Cro ss -Industry M&A, Private Equity,Capital Markets and Finance Practice Veronica Lahadvises public and private companies, investors and financial institutionsacrossfinancialservices, entertainment, technologyand healthcare.She co-led Manatt’srepresentation of CVBFinancial Corp in its approximately $811-million acquisition of HeritageCommerce Corp.and ledthe team representing BreakoutTrading Group in its acquisition by Kraken. Lahalso advised on HARTBEAT’sformation and Kevin Hart’s $100-millioncapitalraise from Abry Partners andco-ledFilmRise’s combination with Shout! Studios to form Radial Entertainment. She leads Manatt’sTransactional Resources Team andwas namedtothe Los Angeles Business Journal’s20252026 Women of Influence in Finance list. She previously represented CVB Financial Corp.inits $204-million acquisition of Suncrest Bank.

Ari LANIN

Partner &Co-Chair Private Equity Practice Group

Gibson, Dunn & Crutcher LLP

Nam ed to Lawdragon’s 500Leading Dealmakers in Americaand ranked by Chambers USAfor PrivateEquity: Buyouts California, Ari Lanin co-chairs Gibson, Dunn &Crutcher’s Private EquityPractice Group,a role he has heldfor nearly adecadeduring his 26-year tenure at the firm.He advises leading private equityfirms on public and privatemergers, stock andasset salesand joint ventures. Lanin represented AuroraCapital Partners on its acquisition of Anova from FFL Partnersand Platinum Equity’sportfolio companySolenis on its agreement to acquire NCH Corporation. He also advised The North Road Company, founded by Peter Chernin, on its saletoMediawan He serves on the boardofthe Korn Ferry Charitable Foundation and wasnamed to theDaily Journal’s Top100 Lawyers in California

Sheldon LEWIS

Co-Founder& Managing Partner Blueprint Equity

Co-Founder andManagingPartner of Blueprint Equity Sheldon Lewis leadsthe SanDiego-basedgrowth equityfirm focusedonfounder-led, capital-efficient software andB2B technology companies. Before founding Blueprint, he servedas senior vice president of corporate and business development at PayLeaseand workedonthe investment team at Mainsail Partners, following an early career as an analyst in Piper Jaffray’stechnology investment bankinggroup.InJanuary 2026, Lewis closed Blueprint’s oversubscribed $333-million Fund III in just 12 days, bringing the firm’s total assets under management to more than $600 million. Under his leadership,Blueprint hascompleted 24 platform investmentsand seven partial recapitalizations across proptech,healthcareITand B2Btechnology and he serves on the boards of AidKit, Builder Prime and Tovuti.

Ray LASOYA

Partner,Corporate &Financial Services

Willkie Farr & Gallagher LLP

The first private equitypartner in WillkieFarr & Gallagher’sLos Angeles office,Ray LaSoya hasspent more than three decades advising private equityinvestors andportfolio companies on acquisitions, divestitures, leveraged buyouts andrecapitalizations across communications, entertainment, technology and financial services. He recently represented Shamrock Capital Partners on itsmerger of CardsHQand Sports Card Investor andits portfolio company Nth Degree’s acquisition of INVNT,a global brand storytellingagency. LaSoya also advised Platinum Equity on its acquisition of Czarnowski Collective from the Nagle family and TruFragrance &Beauty, aMonogram CapitalPartnersportfoliocompany, on its acquisition of Lake &Skye.Hehas played acentral roleinbuilding Willkie’s West Coast privateequity practice and mentors young lawyers entering the field.

SMarissa Arielle LEPOR

Managing Director

The Sage Group

One of the young est partners in

Stephen LEE Partner,Corporate &Financial Services

Willkie Farr & Gallagher LLP

tephen LeeisapartnerinWillkie Farr &Gallagher’scorporate and financial services department, advising private equityfunds, entrepreneurs and corporateclients on mergers, acquisitions, carve-outs and leveraged buyouts across aerospace,softwareand medical device industries.Herepresents buyers andsellers in cross-border transactions, currently advising a $7-billion private equityfund on an approximately$500-million acquisition of adigital workplace collaboration provider.Lee also guided a€3billion French privateequity fund through an $80-millionacquisitionofa passive components manufacturer and a$2-billion U.K. private equityfund througha $700-million divestiture of anetwork connectivitysupplier.Heserves as aboard member and former presidentofthe LosAngeles Chapter of the Association for CorporateGrowth.

Chris MANDERSON Partner

Glaser Weil

Ranked Tier 1inLegal 500’sU.S. Eliterankingsfor Corporate and M&A in LosAngeles, ChrisManderson is apartner at Glaser Weil advising public andprivatecompanies, private equity fundsand founders acrossmergers and acquisitions, financings and restructurings. He represented CaliforniaElectronic Asset Recovery in its 2025 sale to Ancor CapitalPartners and advised Miso Robotics on amulti-million-dollar strategic investment from Ecolab Inc Manderson also counseled Vebu Inc. on its strategic investment from ChipotleInc supporting development of the “Autocado”automatedavocadopreparation system. He continues to advise Upwell Water LLCand ElahHoldings on water infrastructure investmentsand NOLpreservationstrategies. He is amemberofthe Association forCorporate Growth andwas named amongCalifornia’sTop 100 Lawyersbythe LosAngeles BusinessJournal

Managing Shareholder of Frandzel Robins

Hemal MASTER Managing Shareholder

Frandzel

Bloom &Csato Hemal Master advises commercial banks, privateequity funds and finance companies on loantransactions, workouts and lender liability defense.His threeyear secondment with amajor regional bank included supervising litigation across 45 states and advising on hundreds of distressed debt matters. Master recently represented an international bank as lead lender on a $125-million construction loan for a236-room hoteland aregional bank as an agent in restructuring a$120-million credit foranairplane engine leasing company. He serves as general counsel to theWestern Independent Bankersand sits on the Event Planning Committee for the Special Assets Management Association. He is also amember of the LosAngeles CountyBar Association andthe Ventura CountyBar Association.

The Sage Group’s 25-year history, MarissaLepor is amanaging director at theinvestment bank focused on M&A andcapital raises for fashion, beautyand digitally nativeconsumer brands. She represents founderowned businesses in sales to private equityfirms and publiccompanies, having worked on thesales of Rag &BonetoGuess,Oribe to Kao, Frankies Bikinis to Victoria’sSecret and Alice& OliviatoSK. Lepor cofounded LAdies in Financein2017, nowa community of more than 400 women in LosAngeles finance roles and serves on the boards of Simon Miller and Jacob Jonas The Company. She also leadsSage’s intern recruiting andtraining program and is an active member of the Milken Institute’s Young Leaders’Circle

Stacey

MCKINNON

ChiefOperating Officer,Chief Marketing Officer, Partner Morton Wealth

Named the LosAngelesBusiness Journal’s2025Champion of Women, Stacey McKinnonservesaschief operatingofficer,chief marketing officer andpartner at Morton Wealth,where she hasguided one of the most accelerated growth periods in the firm’s history.She hasled the continued evolutionofModearn,Morton’sflatfee planning platform designed to serve the next generation of wealth builders often overlooked by traditional models. McKinnonserves as aboard trustee for the Foundation for Financial Planning, helping expand pro bono planning access to underserved communities. She alsocoached Classes 9and 10 of the G2 Leadership Institute,atwoyear leadership program where advisorsmakestrategic decisions around vision, growth and human capital,mentoring emerging leaders preparingfor ownership andexecutive responsibility

Kelly MERIC

Partner

Proskauer Rose LLP

Kelly Meric is apartner at Proskauer Rose LLP, elevated in 2025toadvise private equity sponsors, portfolio companies and founder-led businesses across domestic and cross-border M&A, carve-outs andjoint ventures. Before joiningProskauer,she servedas senior corporate counsel toScopely Inc., including its $4.9-billion saleto Savvy Games Groupin2023, after beginning hercareer at Sullivan & Cromwell. Meric recently co-led Railbird Technologies’saletoDraftKings and advised Sizzling Platter, aCapitalSpringportfolio company, on its sale to Bain Capital, named Franchise Times’2026 Deal of the Year.She also advised SeoulMedical Grouponits acquisition of Korean American Medical Groupand Dependable Highway Express on the sale of its less-than-truckload division to Knight-Swift Transportation Holdings.

Dan

MILLER Founding Partner Miller Barondess, LLP

Securinga complete dismissal with prejudice for GI Partners in high-profile skilled nursing litigation, Dan Miller is afounding partner at Miller Barondess, LLP representing private equity andventure capital firms in high-stakes disputes.Hecurrently represents Wave Investment in a$25+-million action against SecurCapital for breach of anon-circumventionagreement, with atrial setfor October2026. Miller also representedCorbelCapital Partners in aDelaware ChanceryCourt dispute with MediaLabtied to a$1.58-billionequity valuation, reachinga confidential settlement favorabletoCorbel. He hasserved as aguest lecturer in business lawatUCLAsince 2009 and supports Children’s Hospital LosAngeles and Tower Cancer Research Foundation. For TheGores Group, he recovered more than$11 million in an international arbitrationagainst two Lebanese telecommunications companies

PJohnny

MINASSIAN Partner Withum

Steve MOON

Managing Director &Deputy Head of U.S. M&A Kroll Investment Banking

AFarzad MUKHI

Managing Director Kroll

Farzad Mukhi is amanaging director at Kroll,advising founders, entrepreneurs,private equity firms andcorporate executives on mergers,acquisitions andcapital raises across theconsumer,food, restaurant and retailsectors. His expertise spans branded consumer products, foodand beveragemanufacturers, multi-unitrestaurantconcepts and retail businesses, drawing on an extensive networkofstrategic and financial buyers built over the course of his career.Over the past 12 to 24 months, Mukhi hasadvised clients on growth strategies, strategic partnerships, liquidityevents and ownership transitionsacross theconsumer sector,helpingthem navigate shifting consumerpreferencesand increasingly competitive deal environments. He hashelped establish Kroll as aleadingadvisor in consumer and food-relatedmergers and acquisitions, building lasting relationships with executives,entrepreneurs and investors throughout California’smiddle market.

artner at Withum’s LosAngeles office, JohnnyMinassianhas spent morethan three decades guiding investment advisers and privatefunds across the hedgefund, privateequity,venture capitaland real estate sectors, providing assurance,accountingand consulting services throughevery stageofthe fund lifecycle.Hebuilt his expertise at aBig Four firm, where he served as an audit partner supporting private fund clients. He has expandedWithum’s FinancialServicespracticeinSouthernCalifornia, building a team of approximately10professionals.Minassian leadsWithum’sFeetonthe Street initiative,anon-the-ground interview series capturing real-timeinsights from major industry conferencesand maintainsactivemembership in CalCPA,ACG and CalALTs. Heserves on the boards and auditcommittees of the LosAngeles Mission, ValleyWomen’sCenter andHarvest Home.

LRyan MURR

Partner,Co-Chairof Life Sciences Practice Group &Co-Partner in Charge of the San Francisco Office Gibson, Dunn & Crutcher LLP

eading more than 300 transactions totaling over $65 billion, Ryan Murr is apartner andcochair of the Life Sciences Practice GroupatGibson, Dunn &Crutcher LLP,alsoserving as co-partner in charge of thefirm’s SanFrancisco office. He is rankedBand1 by Chambers USAfor Life Sciences nationally and helped the firm earn its fifth Law360 Life Sciences Group of the Year Award in 2026. Murr recently represented 89bio Inc. on its $3.5-billion saletoRoche Holdings and advised Arrowhead Pharmaceuticals on its $825-million globallicense and collaboration with Sarepta Therapeutics. He also represented Ventyx Biosciences on its approximately $1.2-billionsaletoEli Lilly andRoyaltyPharmaonits acquisition of aroyalty interestinAmgen’s Imdelltrafor up to $950 million.

dvising on 10 ae rospace and defense transactions, Steve Moon is the managing director and deputy headofU.S. M&A at Kroll Investment Banking, where he has spentmore than 25 yearsco-leading thefirm’s Aerospace, Defense andGovernment M&AGroup.Herecentlyadvisedthe shareholders of Stuart Industries on its sale to FDH Aero,a portfolio companyofAudax Group andBlueMarble Communications on its sale to T2S Solutions,a Madison Dearborn portfolio company. Moon also advised SGLCarbon SE on its divestiture of SGLCarbon Gardena to TexTech Industries, an Arlington Capital Partners portfolio company. He serves on the board of directors of the LosAngeles Chapterofthe Association for Corporate Growth, which he previously chaired from 2016 to 2018.

Michael NIEGSCH Partner

Kingswood Capital

Part ner at Kingswood Capital MichaelNiegsch oversees sourcing, transaction execution, operational oversight and long-termvalue creation across the firm’s portfoliocompanies,with a career spanning investmentbanking, private equityand operational leadership.Hehas ledplatform acquisitions, corporate carve-outs and operational turnaroundsoffounderand family-ownedmiddle-market businesses,supporting the growth of companies including The Vitamin Shoppe, KichlerLighting, GFUEL, IDXand Turbo WholesaleTires through active board leadership Before joining Kingswood, Niegsch spent eight years at Comvest Partners as aprincipal in the firm’s private equity strategy, evaluating and monitoring controlinvestments while serving on portfolio company boards. He began his careerininvestmentbankingatUBS Investment Bank and Morgan JosephTriArtisan. He currently serves on the boards of Drive DeVilbiss Healthcare,Coleto Brands and Obsession Holdings.

Bobby OCAMPO

Co-Founder& Managing Partner Blueprint Equity

Helping Blueprint Equity cl ose its oversubscribed $333-million Fund III in just 12 days, BobbyOcampo is the co-founder and managingpartner of the San Diego-based growth equity firm focused on founder-led software and B2B technologybusinesses. Since co-founding Blueprint in 2018, he hashelped push the firm past $600 million in assets under management, deliveringtopventile performance across its first two funds. Before Blueprint,Ocampo wasa partner at RevolutionVentures and an associateat GrotechVentures, following anearly career as an analystinPiper Jaffray’s technology investment banking group.Blueprint’sportfolio outcomes under his leadershipinclude CompanyCamat 40xreturnand Element451 andSunwave Health eachatapproximately 6x return.Heserves on the boards of CompanyCam, Element451, KlariVis and SunwaveHealth.

David NIEMEYER

Partner

Skadden, Arps, Slate,Meagher &Flom LLP

Named aLeaderofInfluence in PrivateEquityand M&A by the LosAngeles Business Journal, David Niemeyer is apartner at Skadden, Arps,Slate,Meagher &FlomLLP focused on mergers, acquisitionsand private equity transactions. He served as lead counsel to ScopelyInc.onits $3.5-billion acquisitionof Niantic’s mobilegames business and to FTAI Infrastructure on its$1.05-billionacquisition of TheWheeling Corporation. Niemeyer also representedMonaKattan, co-founder of Huda Beauty,inher partnershipwith General Atlantic to carveout the KAYALI fragrance business. He serves as aboard member of SynergyCharter Academy andholds leadership positions in the LACBA Business LawSection. He wasnamed among Lawdragon’s 500 Leading Dealmakers in America and restructured nearly $1 billion in debt forDreamscapeEntertainment.

EOliver NORDLINGER

Co-Founder &Partner

Monogram

Capital Partners

OElberta NIZZOLI Partner

SingerLewak

lbertaNizzoli is apartner at SingerLewak with more than 20 yearsofexperience auditing privately held and publicly traded companies across arange of industries. Her transactionalexpertise extendstoinitial public offerings, secondary offerings and mergersand acquisitions, helping clients navigate complex financial matters while minimizing risk. She is a member of theAmericanInstitute of Certified Public Accountants andthe CaliforniaSociety of CPAs. Nizzoli hasbuilt areputation as atrusted advisoracross her more thantwo decades in the accounting profession, delivering auditand transactionalguidance to clients pursuing public offerings and strategic transactions Herworkhas centered on helpingprivately held andpubliclytradedbusinesses meet financial reporting and disclosure requirements throughout the transaction lifecycle and beyond

Kelly O’NEIL

Lead Managing Director CBIZ

liver Nordl inger is the cofounder and partnerofMonogram Capital Partners, aBeverly Hillsbased private equity firm investing across theconsumer ecosystem with approximately $2.0 billion in assets under management since its founding in 2014. With 20 years in the industryand 14 at Monogram, his primaryfocus is beautyand personal care,where he manages eight platform investments spanning mono brands including D.S. &Durga, Violette_FR and Live Tinted,multibrand platforms Beach House Group and TruFragrance,fragrance retailer Luckyscent andcontract manufacturer Prime Matter Labs. Nordlinger serves as lead board member across Monogram’s active portfolio companies, including Lake &Skye,Foundry Brands, Pattern Beauty, Noyzand BÉIS Travel,helping guide the firm’s investment strategyacross its consumer-focused platform.

Asthe lead managing director at CBIZ, Kelly O’Neilserves as West Coast leader of private equityand Southern California attest practice leader,bringing more than 20 years of audit and consulting experiencetopublic and privately held companies backed by private equity andventure capital. Shehas served CBIZ clients since 2007,leadingthe firm’s Southern California attestpractice and serving on the CBIZLeadership Council.O’Neil launched the CBIZ Parent Program andhas championedequity and inclusionthrough CBIZ Women’s Advantage.She serves on the boardoftrustees forKidsave,supporting efforts to help older children in foster care find permanent families, andbelongstothe Associationfor CorporateGrowth’sWomen’s Leadership Council. Herrecentrecognition includes honors from the LosAngeles BusinessJournal and CPAPractice Advisor

LAnant PATEL Partner,Advisory Services Practice Leader

GHJ

ABen D. ORLANSKI Partner,Corporate Department, Member of the Mergers & Acquisitions Group and the Capital Markets Group Proskauer Rose LLP

eading Zello Group’s leveraged buyout of Cineleasefrom NYSE-listed Herc Rentals, Ben Orlanski is apartner in Proskauer Rose LLP’scorporate department andamember of its mergers &acquisitions group,advising clients on headline transactions for more than 30 years. The Cinelease deal,closedinJuly2025, preserved acornerstone provider of lighting and grip equipment for LosAngeles’production ecosystem. Orlanski also served as lead counsel to Kinematics,anAngeleno Group portfolio company,inits cross-border acquisition of Spain-basedP4Q,expanding Kinematics’ footprinttosix manufacturing facilities across four continents.Earlier,heguidedlongtimeclientStamps. com through its $6.7-billion sale to ThomaBravo in 2021, the largeste-commerce take-private deal of that year.Heprovides pro bono governance counsel to The J LA andExceptional Minds.

sanadvisoryservices practice leader at GHJ,AnantPatelhas more than 30 yearsofexperience guiding buy- and sell-side private equity deals ranging from $20 million to $1.2 billion. Anativeofthe U.K., he joined GHJ in 2000 and has played an integral roleinbuilding the firm into anationally recognized advisory powerhouse, overseeing transaction advisory, dataand analytics and client accounting services. Patel advises private equityfirms, venture capitalists and institutional investors on complextransactions and advises privately held companies on exit planning.Healso serves as global leaderfor network capabilities at HLB,a global advisory networkspanningmorethan150 countries, fostering collaboration amongmemberfirms. He serves on the board of directors and is apast chairman of Step Up on Second, a nonprofit supportingindividualsfacing homelessness.

Jasleen PATEL SVP&Commercial Banking Regional Manager

City National Bank

JasleenPatel is SVP and commercial banking regionalmanager at City National Bank, where she oversees commercial banking relationships and regionalbusiness development initiatives across awide territory. With 24 years of experience in banking, including seven years at City National Bank, she brings deep expertise in commercial banking, relationship management, business development and middle-market client advisory. Patel leads teams focused on deliveringcustomized financial solutions,drawing on a strong foundationincredit analysis and portfolio management builtover more than two decades in financial services.Her career reflectsa consistent commitmenttoclient-focused banking andregional growth.She holds an MBAfrom the University of Southern Californiaand abachelor’sdegree from UCLA, combining advanced business education with senior leadership experienceinthe financial services sector

Jennifer POST

Managing Partner, LosAngeles Thompson Coburn LLP

Representing thesenior se cu re d lender in thedistressedsaleofan international entertainment-technology company valued above $50 million, JenniferPost isthe managing partner of Thompson Coburn LLP’s LosAngelesofficeand co-chair of its emerging companiespractice.She has spent more than threedecades advisinglenders, investors and highgrowth companies on equityand debt financings, venture capital and M&A and recently guided a$50-million venture financingfor atechnology-enabled transportation platform. Post is the first openlygay person to lead aThompsonCoburn office and foundedthe West Hollywood chapter of ProVisors. She hasserved on the advisory board of Rainbow Capital Partners and was named to the2026Lawdragon100 ManagingPartners and DailyJournal Top Women Lawyers lists.

Eric PERLMUTTERGUMBINER Partner

Greenberg Glusker LLP

Named aTop Content CreatorLawyer and TopSportsLawyerbyThe HollywoodReporter,Eric Perlmutter-Gumbiner is apartner at GreenbergGlusker LLP advising founders, privateequitysponsorsand high-growthcompanies acrossconsumer products, mediaand sports. He has represented SKIMS,Good Americanand TomHanks’HanxCoffee andrecently represented DanLevitt’sLongHaulManagement in its acquisition by Wasserman. Perlmutter-Gumbiner also represented Derek Muller in thesaleofVeritasium Inc. to ElectrifyVideo Partners andOUAIinits sale to Procter &Gamble.Hewas named to Legal500’sU.S.Elite LosAngelesGuide for CorporateM&A and selectedas one of 10 nationwide winners of Middle Market Growth’s Young Professional Award He lectures at USC’sMarshallSchool of Business andmentors lawstudentsthere

MThomas POLETTI

Partner

Manatt, Phelps &Phillips, LLP

AMeghan PINCHUK

Chief Investment Officer,Partner Morton Wealth

eghan Pinchuk is the chief investment officer and partneratMorton Wealth, where she leadsthe investment team in building resilient portfolios grounded in the firm’s three core tenets: risk management,truediversification andcash flow.In2024, alongside CEO Jeff Sarti, she launcheda proprietarycredit fund designed to expand client accesstoasset-based and necessity-based lending opportunities. Pinchuk sitsonthe firm’s executive leadership teamand boardofmanagers,helping shapestrategic direction across theorganization. She holdsaBachelor of Arts in English, summacum laude, from UCLAand has builther two-decade career entirely at Morton Wealth. She is aCFA charterholder and aCERTIFIED FINANCIAL PLANNER professional,credentialsthat underpin her approach to portfolio constructionand risk management.

Aria POURNAZARIAN

Vice President of Corporate Advisory Services Matthews™

Closing nearly $80 million in corporateadvisorytransactions since 2024, Aria Pournazarian is thevice president of corporate advisory services at Matthews,advising business owners andfinancial sponsors on extracting maximum value from real estateholdings.He most recently led a$17,275,000 multi-state saleleaseback of sevenindustrialoutdoor storage andretailproperties,securingfinalpricing approximately20% abovethe seller’s initial expectations.Pournazarianalso closed sale-leasebacks forNation’sBestand Musser Lumber in the $15 to $20 million range,along with M&A-linked real estate assignments forRichwoodIndustries andFactoryMation. Beforejoining Matthews in 2023,hebuilt his transactional discipline at Marcus& Millichap and JamesCapital Advisors. He is amember of ICSC and theAssociation for CorporateGrowth’sLos AngelesChapter

Advising RBW Capital Partners on AIAI Holdings’$1-billionroll-up anddirect listing on the NasdaqGlobal Market, Thomas Polettiisa partneratManatt, Phelps &Phillips LLP counseling public andprivatecompanies on securitiesofferings, venturefinancingsand mergers andacquisitions. He hasserved as lead or co-counsel on more than 200 publicofferings, advising issuers and underwriters on offerings rangingfromseveral $100,000 to several $100 million dollars. Poletti recently represented NeOnc Technologies Holdings on itsdirectlisting on theNasdaq Global Market and$40.0 million in private placements and advised Digital Health Acquisition Corp.on its $110-million business combination with VSee Laband iDoc VirtualTelehealth Solutions. He is also advising on aroll-upofinvestment fundswith $3.0 billion in managed assets.

Evan ROBERTS

Partner

Milbank LLP

EMichael Roy RITCHIE Partner

Withum

sa partner at Withum’s Orange County office,Michael Ritchie hasbuilt deep expertise in healthcare services M&A, advising strategic acquirers and private equity firms nationwide on financial due diligence and working capital assessments.Inthe past twoyears, he hasadvised on more than 100 middle-market deals, leading Withum’s healthcare M&A practice and serving on the firm’s Capital Markets Committee. The M&A Advisor honored him with its 15th Annual Emerging Leader Awardin2024. Ritchieisa member of CalCPA andOpusConnect andfrequentlyspeaksatconferences hosted by McGuireWoods Healthcare andthe Association for Corporate Growth. He serveson theboard of theTustinPublic Schools Foundation,sittingonits executivecommittee andcoaches youth sportsinhis community.

van Roberts is aglobal corporate/ M&A partner in Milbank LLP’sLos Angeles office, representing buyers, sellers, investment funds and institutional investors acrossprivate equity, mergers and acquisitionsand corporate governance matters. Over 14 years,hehas structured multi-layered debt and equity investments for Lieef LLCand advised on carve-out acquisitions for Transom Capital Group and its portfolio companies Ampure and BridgeTower.Roberts also explored controlinvestmentsinenergy platforms with Vision Ridge Capital and developed joint venturesspanning real estate, digital infrastructure and artificial intelligence.Heserveson Milbank’sLos Angeles hiringcommitteeand volunteers with TheFarmlink Project. He previously wasa partner at Kirkland &Ellis before joining Milbank and regularly guest lectures at UCLA and USC lawschools.

James V. ROBERTSON Of Counsel Hahn &Hahn LLP

James Robertson isof counselat Hahn &HahnLLP, advising public companies and small startups on mergers andacquisitions, corporate governance,commercial finance and project finance across domesticand cross-border transactions. He hasdraftedand negotiated purchase and exchange agreements, financingdocuments, equity anddebt investment agreements and shareholder agreements over his 31-year legalcareer and also counsels public companies on securities law compliance.Robertson previously served as legalcounsel for alarge energy-sector corporation, managing issues affecting the engineering,procurementand construction of public-sector distributed generation and energy efficiency projects. He co-chaired theBusiness LawSection’s UCC Committee from 2010 to 2011 and served asa registered foreignlawyer with the TokyoDai-Ni Bar Associationfrom 2000 to 2005.

Augustin GILLES SAYER

GP &Co-Founder

OVNI Capital

Co-Founder andGeneral Partner of OVNI Capital Augustin Sayerleads the transatlantic venture capital firm’s California operations from its SanFrancisco office,guiding European deeptech startups scaling into U.S. markets. Since launching in 2023, OVNI has raised $70 milliontoinvestat thepre-seedand seed stages, deploying capital into aportfolio of more than18deeptech companies. Sayerdirects software, AI and frontier computing teams to San Francisco while guiding hardware,advanced materials and aerospace-focusedteamstoLos Angeles, strengthening local supply chains andaccelerating technology transfer.Before founding OVNI,he served as apartner at Newfund,a transatlantic early-stage venture firm with offices in Palo Alto and Paris. He spokeatTechCon SoCal 2026 on transatlantic innovation ecosystems and sits on theboardsofmultiple privately held companies.

Robert RODIN Chief Executive Officer

RLH Equity Partners

Leading Marshall Industries to$2billion in sales as CEO and president, Robert Rodin now serves as CEO and managing director of RLH EquityPartners, a43-year-old Los Angeles privateequityfirm,risingover 18 years from strategic advisor to CEO.Hedrivesthe firm’s RLH.AI knowledgebaseand RLH Labs research group,developing automation and AIbased modeling tools for the firm and its portfolio companies.AtMarshall Industries, Rodin transformed the company’sstructure and IT platform,earning recognition from Advertising Age as theworld’s top business-to-business website two years running. He authored “Free,Perfect andNow,” chronicling the shift, taught as acasestudy at Harvard BusinessSchool and MIT.Heserves on the boards of The AsiaGroup, Biorasi and the ALS Therapy Development Institute

SShlomi RONEN

Managing Principal Dekel Capital

Jeff SARTI Chief Executive Officer,Partner

Morton Wealth

Jeff Sarti is chief executive officer and partner at Morton Wealth, a registered investment advisor managing more than $3 billioninassets acrossmore than 1,200client relationships with more than 60 employees. He leadsthe firm’s mission of empowering better investors, focusingonhelping clientsachieve their financial goals whilesupporting employees in theirown career growth.

ince founding Dekel Capitalin2011, Shlomi Ronen hasorchestrated more than $10 billion in equity, mezzanine and debt financing for real estate investors and developers nationwide as the firm’s managing principal. He recently secured $45.1millioninacquisition financing for amultifamilyproperty after the client’soriginal lender withdrew andstructured a $116-million recapitalization for asix-building LasVegas office portfolio.In2023, Ronen launched Dekel CorrespondentLending to originate loansfor acquisitions and refinancingsacrossbuild-to-rent andsingle-family rental sectors.Healsoserves as managing principal of Dekel Strategic Investors, aproprietary equityfund targeting mid-market funding gaps with investments between $3 million and $10 million. He sits on the boardofthe USC Lusk Center for Real Estate

Kort SCHNABEL

Partner,Co-Head of U.S. Direct Lending, Ares and CEO,Ares Capital Corporation Ares

KortSchnabelisa partner and co-head of U.S. direct lending in the Ares Credit Group andchief executiveofficerofAres Capital Corporation, the largest publicly traded business development company in the U.S. by marketcap.Hewas promoted to CEO of ARCC in 2025 and also co-heads Ares’sports,media andentertainment strategy. Since joining Ares as aprincipal in 2001, Schnabelhas helpedbuild theU.S. direct lending platform into a$193-billion asset management business and grown ARCC to a$13.7-billion marketcap since its 2004 IPO.Hehas overseenmore than 2,655investments representing $223 billion of invested capital, with alossrate under 1basis point. He leads nearly250 investment professionalsacross nine U.S. officesand serves on the Ares Operating Committee

JSarti authors The Healthy Skeptic, a quarterly newsletter examining why challenging the statusquo matters when navigating financial markets. He wasnamed to theLos Angeles Business Journal’sInside the Valley 200 MostInfluential in Finance and Insurancelist in 2024. He earned a Bachelor of Science in biologyfrom Stanford University and an MBAinfinance from UCLA’s Anderson School of Management in addition to being aCFA charterholder

CChristine SHIN

Partner &Chair of the Mergers &Acquisitions andPrivate Equity Practice

Russ August &Kabat

Jeff B. SCHWARTZ

Founder, Managing Partner &CEO CorbelCapital

eff Schwartz is founder,managing partner and chief executive officer of CorbelCapital Partners, leading the firm since its founding in 2013.Hebringsnearly20years as aprincipal investor andalmost30years in financial services, with deep expertise in structuredprivate debt and equity investments and has led investments acrossall Corbelfundsproviding flexible capitaltolower middle-marketbusinesses. Schwartz previously served as asenior privateequityprofessionalatAresManagementand TheGores Group, beginning hiscareer in investment banking at Lehman Brothers and Wasserstein Perella.He serves on the boards of Access Dental Management, ApothecaryHealthSolutions, Good CleanLove, L’Agence andReal Defense. He is amemberofthe Young Presidents’Organization andsupportsHappy Trailsfor Kids, anonprofit serving underservedyouth.

hristine Shin is partner andchair of the mergers &acquisitions andprivateequitypractice at Russ August &Kabat,where she built thefirm’s M&Agroup from the ground up over an eight-yeartenure She has represented sellers ranging from smallfamily-owned businesses to large corporations and in 2026 served as lead M&Acounsel to Hydraulics International in its sale to Arcline Investment Management. Shin’s practice wasnominated for Deal of the Year for representing Astrana Health in its acquisition of Prospect Health.Shinhas builther reputation across Southern Californiaasa trusted advocate for individual sellers negotiating against billion-dollar privateequityfunds.

Fabio SIMI

Senior Vice President Marsh

Fabio Simi is aseniorvice president on Marsh’sprivate equity and M&A services team in LosAngeles,leadingM&A engagements across private equity, portfolio company and strategic investor clients. He coordinates global private equity andcorporaterelationships, advising clientsontransactionrisk insurance includingrepresentation and warranty, taxand contingent risk coverage and integration strategies throughout the deal lifecycle, drawing on Marsh, Mercer andOliver Wyman’s combinedservices. Simi and his teamwork across industry verticals withouta specificsectorfocus, supporting private equitysponsors and their portfoliocompanies through the full transaction lifecycle He serves as directorofsponsorship for ACGLos Angeles andsupports the Aquarium of the Pacific through philanthropic engagement, reflecting his commitment to the region’s business and civic communities.

David SUTTON Partner,Transaction Advisory Services Practice Leader GHJ

DavidSutton is transaction advisory services practice leader and apartner at GHJ, overseeing buy- andsellside transaction advisors on deals rangingfrom $10 million to $3 billion across entertainment, manufacturing and technology. He advises family offices and institutional funds on M&A duediligence, dealstructuring and forecasting, drawing on his background as aformeraerospace engineer who began his career at the U.K. Ministry of Defense.Under Sutton’s leadership,GHJ’sTransaction Advisory Services Practice has expanded itsnationalfootprint as a strategic partner to buyers and sellers navigating complexdeals.He mentors junior advisors atthe firm and contributestoits thoughtleadership initiatives on liquidity management and regulatorychange

Jeffrey SKLAR Co-Chairman & Founding Partner

SklarKirsh

LLP

JeffreySklar is theco-chairmanand foundingpartnerofSklar Kirsh LLP,where he has practicedfor 25 yearsincluding 13 with the firm. Beyond hislegal work, he serves on the advisory boardofthe Transactional Lawyering Institute at Loyola LawSchooland on the board of directors of de Toledo High School.Sklarvolunteers with theLawyers’Committee for Civil Rights Under Law’sElection Protection program, supporting voter access initiatives nationwide.Heisalsoa competitive swimmer anda certified Level 2coach with U.S. MastersSwimming,reflecting hiscommitmenttoathletics alongsidehis civic engagement. His combined legal leadership and communityinvolvement across education, civil rightsand professional mentorship underscore his standing in the LosAngeleslegal community.

RStacey A. SULLIVAN

Partner

Hill,Farrer &Burrill LLP

RAlan SNYDER Founder &CEO aShareX, Inc.

estructuring California’s largestinsurance company with $20 billion in assets as presidentand COO of First Executive Corporation,AlanSnyder is the founder andCEO of aShareX, Inc., apatented platform democratizing access to high-value alternative assets through fractional bidding. He has servedasmanaging general partner of ShinnecockPartners since 1988, launching eight funds including onelending against museum-qualityfine art that hasdeployed more than$100 million. Snyder founded Answer FinancialInc., which became thenation’slargestnon-carrier seller of auto and homeinsurance before itssaletoAllstate. He also served as executive vice president andboard memberofDeanWitter Financial, where he helped formulate the launchofthe DiscoverCard. He spent nine yearsonthe Western LosAngeles Boy Scout Council, ultimately servingaschairman

Ramesh SWAMY

Founder Halifax West

FounderofHalifax West Ramesh Swamy hasbuiltthe Los Angeles-based merchant bank into arecognizedname in the lowermiddle marketsince 2016, serving independent sponsorsthrough buy-side advisory, capital raising andminority co-investment. He recentlyserved as exclusivefinancial advisor, debt lead and co-investor in Daboosh Investments’acquisition of GS Industries of Bassett andadvisedDFT Partners on itsacquisition of 39 uBreakiFix stores across nine states. Before founding Halifax West, Swamy served as executivevice president of operations &strategy at Curacao and ledDeloitteFinancialAdvisoryServices’ U.S. Retail &Distribution practice, advising clients including CVSand TheHome Depot.His market commentary has appeared in Bloomberg, Forbes andThe Washington Post.Heserves as board chair of the International Pemphigus&PemphigoidFoundation.

epresenting thesellerin a50,000acre Bay Arearanch sale, reported as thelargest private landsalein Californiahistory,StaceySullivan is apartneratHill, Farrer& Burrill LLP advising clients acrossthe real estate lifecycle, from acquisitions to financing anddevelopment. A formerCPA with Ernst &Young, she structures ownership entities for tax efficiency, includingSection 1031 and 1033 exchanges. Sullivan represents trustees administering an estate exceeding $2.5 billion, advising on corporate,partnership and real estate issues tied to asset sales and distribution. She alsorepresented a lenderona$260-million loan portfolio andcounseledthe seller of an iconic Hollywood mixed-use landmark property in a$50-million transaction. She belongs to theAmerican AcademyofAttorney-CPAsand the Women Lawyers Association of LosAngeles

Richard SWEET

Chair,Corporate Department

Greenberg Glusker LLP

Richard Sweet is the chair of Greenberg Glusker LLP’sCorporateDepartment, advising middle-market, automotive,food and beverage andhigh-tech companiesonmergers and acquisitions, joint ventures and debt and equityfinancing He recently representedService Champions Heating &Air in its sale to Center Oak Partners as the platform for ahome services roll-up and represented Bourget Bros. in the sale of its Flagstone division to SiteOneLandscape Supply.Sweet also represented NationalCoatings Corporation in its acquisition by TheHenry Companies and ABI Manufacturing in itsacquisition by Progold S.p.A. Before law, he earned an Associate Degree in automotive technology from Universal Technical Institute and worked in supplemental restraint technology andautomotive electronics. He serves on the Associationfor CorporateGrowth LosAngeles Chapter’sSponsorship Committee

Brian WEINHART Partner

Hill,Farrer & Burrill LLP

Negotiating theresolution of a distressed multifamily portfolio exceeding $2 billion across more than adozen states, BrianWeinhart is a partneratHill, Farrer &Burrill LLP with more than 30 years in commercial real estate and finance law representing borrowers and lenders. He hasadvisedonloanworkouts involvingbillionsintroubledcommercialrealestateassets andrepresented originators, including JP Morgan and WellsFargo,oncommercial loan originations nationwide Weinhart authored lender guidelines fordefaulted loan workouts adopted by special servicing units at major banksand negotiated the sale of the Wilshire Plaza Hotelout of bankruptcy.Hechairs theadvisoryboard of theHeart Foundation at Cedars Sinai Medical Center and is afounding board member.Inaddition,hehas been aSouthern CaliforniaSuper Lawyer for nearlytwo decades.

Ari SWILLER Managing Partner &Co-Founder

Renewable Resources Group

Ari Swiller is the co-founderand managing partnerofRenewable Resources Group, asustainablereal assets investment firm focused on agriculture,water,renewable energy, habitatconservation and naturalresource stewardship. He plays akey leadership role across RRG’sinvestments,negotiating deal structures, restructuring operating companies and shaping investment strategy at theasset, fund andfirm level. Before RRG,Swiller served as aprincipal at The Yucaipa Companies, working directly withfounder RonaldBurkle on investment andbusiness initiatives. He has helped position RRGasarecognized leader in sustainableinvesting, driving initiatives focused on water security, climate resilience and biodiversity. He is afounding board member of the MiguelContreras Educational Foundation andpreviously served on the boards of Falcon Waterfree Technologies andthe LosAngeles ConservationCorps.

ANEric WEDEL Head, LosAngeles Office; Global Co-Chair,Finance &Capital Markets Groups; Partner Paul, Weiss, Rifkind, Wharton &GarrisonLLP

TanyaVINER

Co-Chair,Mergers &Acquisitions Practice; Los Angeles Chair, Corporate Practice Group; Partner Buchalter

amed Women Dealmaker of the Year and honored multiple times as aTop Female Attorney, Tanya Viner is the co-chair of Buchalter’smergers &acquisitions practice andLos Angeleschair of thecorporatepractice group Sherepresents buyers andsellers in transactions ranging from closely heldbusinesses to deals exceeding $1 billion, advising emerging growth companies on formation, venture capital financing and governance.Viner recently co-led Buchalter’srepresentation of Stripes in its investment in La La Land Café and advised on Baldor Specialty Foods’acquisition of Golden Packing, expanding Baldor’spremium protein offerings to more than 14,000 accounts. She also representedMeaningful Partnersinits second fund closingatover$150million, bringing the firm’s assets under management to approximately$500million. She serves on the boardofThe ProfessionalClub

JeremyM. WEITZ

Chair,Corporate Practice Group; Co-Chair, Mergers &Acquisitions Practice; Partner Buchalter

Leading Buchalter’srepresentation of Uscreen in its $150-million investment from PSGEquity, JeremyWeitz is the chairofthe firm’s corporate practice group andco-chair of its mergers& acquisitions practice in LosAngeles He represents buyers and sellersintransactions rangingfrom$10 million to $3 billion, recently representing Visme in its strategic growth investment from GearboxCapital andMobilityMarketIntelligence in itsacquisition of MonitorBase.Weitz also co-led Bloom Nutrition’s expanded partnership with Nutrabolt, building on aprior $90-millioninvestment to reach an aggregate investment of approximately $210 million and advised Stripes on itsgrowthinvestment in La La Land Café.Heserves on Buchalter’sBoard of Directors andisa frequent lecturer on mergers andacquisitions.

Sdvising on approximately $200 billioninfinancings over the pasttwo years, Eric Wedel is the head of Paul, Weiss, Rifkind, Wharton &Garrison’s LosAngeles office and global co-chair of its finance &capitalmarkets groups. He founded the officeand grew it from four to more than 30 lawyerssince September 2023, building one of the region’s foremost privateequity finance practices. Wedelserves as leadfinance advisor to Warburg Pincus, Hg Capital, Stone PointCapital and Stonepeak, recently advising Syscoonits $29.1-billionacquisition of Jetro Restaurant Depot and Keurig Dr Pepper on financing its $18.4-billion acquisition of JDEPeet’s. He also advised Stonepeak on its $10.1-billion acquisition of amajority stakeinCastrolfrom BP.Hecochairs the Leveraged Finance Fights Melanoma benefit gala

PLouis WHARTON

Partner andCo-Chair of the Venture Capital &Emerging GrowthPractice

Stubbs Alderton &Markiles, LLP

Craig WELIN

President Frandzel Robins Bloom & Csato,L.C.

erving as lead counselfor afederal equity receiver whoreturned100%ofdefrauded investors’principal in a$1-billion Ponzi scheme,Craig Welinisthe president of Frandzel Robins Bloom &Csato,L.C., where he has practiced nearly three decades specializing in creditors’rights andbusiness resolutions. He also served as lead California counselfor abank’s sale of allits California assets,including branch system andloans, in a$2.5-billion transaction. He represented aservicer in ajudicial foreclosure that recovered adeficiency judgment exceeding$11 million from theborrower and guarantors. Welin co-chairs the Commercial Real Estate FinanceCouncil’sAnnual Educational Summit for Special Servicers and Bank WorkoutOfficers and serves on itsHigh YieldDistressedDebt Sub-Committee. He is also active with theMortgageBankersAssociation.

artner and Co-Chair of the Venture Capital& Emerging Growth Practice at StubbsAlderton & Markiles, LLPLouis Whartonadvises technology,e-commerce anddigital mediacompanies on corporate finance,mergers and acquisitions andsecuritiescompliance. He recently represented SearchStax, a cloud-native Search-as-a-Service platform, in securing aminorityinvestmentfromGuidepost Growth Equity. Over his career,Wharton has advised venture capital funds and angel investors on seed, growth and later-stagefinancings and counseled buyers andsellersinstock and asset acquisitions and change-of-control transactions. He hasalso advised public companies on securities reporting and governance matters and serves as outside general counselto technology companies.

Jeff WHITE Managing Director Skyview Equity

(Skyview Capital is now called Skyview Equity)

Named one of the Los An gele s Business Journal’sMostInfluential Private Equity Investors five times since 2014, Jeff White is amanagingdirectorand foundingpartner of Skyview Equity, formerlySkyview Capital, which he helped build from zero portfoliocompaniestomore than 25 acquisitionswithout atraditional fund. He followed founding partner Alex Soltani from Platinum Equity, where he waspart ofthe firm’s globalbusiness development team, and now leadsSkyview’sbusinessdevelopment efforts and sits on its investment committee.White won theM&A Advisor’s 2016 Emerging Leader Awardfor Private Equity Dealmaker and servedasUnited Stateschair of the G8 Young Summit. He has spoken at theMilkenGlobal Conference and Forbes Global CEO Conference andsupports American Friends of the Louvre and the Elton John AIDS Foundation.

Christopher J.

WU Partner Kirkland &Ellis LLP

Advising XeroxHoldings Corporationonthe formation of a$450-million joint venture with TPGCredittomanage andmonetize Xerox’sintellectual property assets, Christopher Wu is atransactionalpartner at Kirkland& Ellis LLP’sLos Angeles officerepresenting private equitysponsors on leveraged buyouts, growth equityinvestments anddivestitures. He serves Kirkland’s LosAngeles team advisingAresManagement, whichmanages approximately $644 billioninassets andAres Capital Corporation, the largest business development companyatapproximately$29 billion. Wu recently advisedLightBay Capitalonits acquisition of Questco, aprofessional employer organizationserving more than 1,200 employers andrepresented Ares portfolio company Automated Industrial Robotics in itsacquisition of Sewtec Automation.Healsoadvised Oak View Group on its acquisition of The Brewery, aLondon event venue

ABryant YU

Managing Director &Head of Technology

Full Send Partners

Shoshana ZIMMERMAN

Partner

Stradling

Sdvising on nearly $3 billion in aggregate transaction value at Prager,Sealy &Co. earlier in his career,Bryant Yu is managing director and head of technology at Full Send Partners, aLos Angeles-based middle-market investment bank.Hehas spent more than two decades advising entrepreneurs, founder-led businesses and private equity firms on mergers, acquisitions and capital raisingacross technology, media and telecommunications Before joining Full Send Partners, Yu led B. Riley Financial’sTechnology M&A practice,advisingentrepreneur-ownedand privateequity-backed technology companies, while also covering publicly traded technologybusinesses. He also served at Bacchus CapitalManagement, leading diligenceand execution of lower middle-market privateequityinvestments.Hehas helped buildFullSendPartners’ technology, media& telecompractice since joining the firm.

Jeremy Weitz Partner

erving as leaddeal counselon 20 of 24 deal closings valued at approximately$1.3 billion between January2024 and May 2026, ShoshanaZimmerman is apartner in Stradling’scorporate andsecurities practice group representing companies on both sides of mergers andacquisitions. She wasnamed aBestLawyers’“One to Watch”in2026 for her corporate work. Her recent mattersinclude representing FitLab Inc. in its acquisitionsofLifeCoreFitness andY7Studios andGallant Capital Partners in Aero Turbine’s sale to StandardAero, aCarlyle Groupportfolio company. Zimmerman also represented Digital SurgerySystems in its sale to B. BraunSE. Sheorganizes recurring networking events forwomen in M&A and serves as ajudge for Loyola LawSchool’sTransactional Lawyering Institute negotiation competition.

Tanya Viner Partner

[Continued from page 11]

Consulting Firms Predict Operational Risk Business consultants have traditionally helped companiessolve strategic problems.AIisenabling them to identify those problems much earlier

Modern consulting platforms can combinefinancial data, customer behavior,supplychain metrics, employee engagement, cybersecurityindicators and external economic data intopredictive dashboards that identifyemerging risks.

For example,a Southern California logistics company maydiscover through predictive analytics that rising overtime,increasing equipment maintenance costs,decliningdriver retention and slowercustomer payments historically precede significant profitability declines.Instead ofreactingafter margins collapse, leadership can intervene months earlierbyadjusting staffing models, renegotiating customercontracts or replacing aging equipmentbefore costsescalate.

Predictive maintenance models have produced particularly strong returns in manufacturing, transportationand infrastructure industriesby forecasting equipment failuresbefore breakdownsoccur.

Preventing asingle production shutdown cansave manufacturers hundreds of thousands of dollars in lostoutput whilepreserving customer relationships.

Cybersecurity Becomes aBusiness Advisory Service

Anothergrowing area of predictive advisory involves cybersecurity

Accounting firms, consultants and specializedlegal practices increasinglypartner with cybersecurity professionals to identify vulnerabilitiesbefore hackers exploit them

AI-powered monitoringsystems canrecognize abnormal user behavior,unusual network activity, suspicious vendor payments oremerging ransomware indicators much earlier thantraditional manual reviews.

For manybusinesses, preventing abreachdelivers exponential value

IBM’sannual Cost of aData Breach Report hasconsistentlyfound that theaveragedata breach costs organizations several million dollars globally when investigationcosts, operational disruption,regulatorypenalties, legal expenses and reputational damage are included.

Early detection dramatically reduces bothfinancial losses and business interruption

Human Judgment Still Matters

Despite AI’sgrowing capabilities, expertsconsistently emphasize that predictive advisory is not

replacing experienced professionals. Rather,it allows them to spend lesstime gathering information andmore time interpreting it.

AI can identifyunusualfinancial transactions, but experienced CPAs determine whether those anomalies represent fraud, operational changes or legitimate business activity.AImay flagpotentially riskycontractlanguage,but attorneys still evaluate litigationstrategy, negotiationtactics and business priorities.Consultants continue to provideorganizationalinsight, change management expertiseand industryknowledge that algorithms alone cannot replicate

The competitive advantagecomes from combining machine intelligence with professionaljudgment.

Choosing the Right Advisory Partner

Forexecutives evaluating outsideadvisors, the conversation is changing.

Instead of asking howefficiently afirm prepares tax returns or reviews contracts, business leaders shouldask howeffectively that firmhelps prevent future problems

Questions worth asking include:

•How are youusing AI to identify risksbefore they occur?

•What predictive dashboardsormonitoring tools do clients receive?

•How frequently do youproactively alert clients to emerging issues?

•Can you quantify situations where your recommendations helped clients avoid significant financial losses?

•How do your professionals validate AI-generated insights before making recommendations?

The answers increasingly separate firmsthatsimply automate traditional work fromthose that areredefining professional advisory services

Looking Ahead

LosAngeles has longbeena center for innovation acrossentertainment, aerospace,technology, healthcareand international trade. As businesses across these industries becomemore data-driven, demandisgrowing foradvisors who cantransform information into foresight.

The future of accounting, legal andconsulting services is no longer just about preparing reports or responding to crises.Itisaboutcontinuously monitoring business conditions, anticipating risks and helping organizations make smarter decisions before problems emerge.For today’sexecutives, the most valuableoutside advisormay not be the one who delivers the best explanation after acrisis has occurred. It may be the one whose AI-powered insight ensures the crisis never happens at all ▐

-Paul Williams

[Continued from page 16]

activations andlocal advertising inventory all become scarcer as the Games approach. The fearofmissing out is not irrational

Reutersrecently reported that LA28 expects domestic sponsorship revenue approaching $2.5 billion while experimenting with more flexible commercial opportunities, including venue namingrightsand expanded sponsor visibility –changes thatreflect lessons learned from both Paris and the recent Winter Olympics. The organizing committee is actively modernizing how brands participate,creating additional valuefor companies willing to commit early

Of course,early sponsorship is not without risks. Economic conditions canchange.Corporate leadership changes mayalter marketing priorities. Consumer tastes evolve.Some companies mayfind that tying up marketing dollars years in advancelimits flexibility. That is why experts generally recommend viewing Olympic investments as partofa broader long-term brand strategy ratherthan aone-time advertising campaign.

“The companies generating the greatestreturns tend to activate their sponsorship across multiple channels –employees, customers, digital content, social media, retail experiencesand community engagement– rather than relying solelyon Olympic logos,”said Myers.

For Southern Californiabusinesses, there is also ahometown advantage

“Unlikecompanies chasing international exposure alone,local firms canleverage the Games for recruiting,civic engagement,customerevents andregional brand building,”shared Myers. “Employees canvolunteer.Customers canattend hospitality events. Community partnerships can continue long after the closing ceremony. The Olympics become less of amedia buy andmore of amulti-year business platform.”

The starting pistol, in manyrespects, has already fired. While manyexecutives still view LA28 as afuture event, some of theworld’sbiggest brands arealready executing strategies that will mature over the next two years. Businesses thatwait until the Olympic torch enters LosAngeles maystill find opportunities –but theyare unlikelytoenjoy thesamepricing,exclusivity or strategicflexibility available today. History suggests that by the time the Games finally arrive, the winners in Olympic marketing will have been training for years ▐

-PaulWilliams

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GROCERYOUTLET RESTARTSEXPANSION WITH NEWCALIFORNIA BRANCHES

By Lily Wright

Grocery Outlet is openingnew locations across California, rebuildingits networkinthe Golden State after closingstores earlier this year.

Anew branch in Ontario Ranchisscheduled to open July 23,and moreopenings areplannedfor later this summer.

Thelocation will be operated by independent owners Gloria andJason Pineda.Bythe endof August, the discount grocery retailer plans to open stores in Ramona, San Francisco, Clovis and Petaluma as well.

TheEmeryville, Calif.-based chainannounced the closureof36stores in March, including nine California locations. Theclosures were an attempt to roll back an overexpansion in the wrongmarkets, resultingina loss in 2025. Grocery Outlet didnot announce whichlocations would be closed

at the time, but theywerelisted forsublease by advisory firm Gordon Bros.

Amongthose listed wasanOntario location closer than sevenmiles from the soon-to-open site.

Fiveother SouthernCalifornialocations were markedfor closinginAzusa, Brawley, El Cajon, La Habra, Ontarioand Poway. In CentralCalifornia, theKerman, Patterson andRidgecrest stores were alsolisted forsublease. Outside of California, storesinIdaho,New Jersey, Maryland,Ohio and Pennsylvania also were listed.

In an earningscall in May, Grocery Outlet Chief ExecutiveJason Potter said therestructuring was helpingboostthe company’sprofit.

“These closures arenow complete and have improved fleet quality and will strengthen the earnings profile of the business over time,” he said.

Grocery Outlet wasfounded in SanFrancisco in 1946 as adiscountgrocery storechain selling overstock of limited-timeorholidayfood items Thereare about 280 Grocery Outlet locations in California, accountingfor morethan half of its total store count.

Though Grocery Outlet has cultivated adedicated consumer base on TikTokand othersocial media postsfromgrocery bargain hunters, it faces fierce competitionfromother budget grocery chains, includingAldi, which is set to open180 stores in 2026. It also competes with Trader Joe’s, Walmart and Amazon, which have steadily gained customers.

accordingtoPitchBook’sprivate marketfunding data released Thursday.

Itsnextbiggest competitor,New York,raisedless than atenth of California’s total. Texas raised 1/40th of the amount.

“California has far and away the most [deals], obviously,a hugeamount of that sits in the [San Francisco] BayArea,”saidKyleStanford, director of U.S. venturecapital research at PitchBook. “Los Angeles, San Diegohas areally strongtech market that Ithink benefits alot from capital movingeasily between San Francisco and L.A.”

Although acampaign fora newtax on billionaires has convinced some ultra-rich residentstoshift to other states and businesses often complain that high propertyand energycosts and an antibusiness regulatoryregime makeittoo tough to makemoneyinthe state, the inability of the top talent, companies and investors in AI to set up elsewhereshows California’senduring attraction.

BILLIONAIRE EXODUS? CALIFORNIA DREW 10 TIMES MORE VENTURE CAPITALTHANANY

OTHER STATETHIS YEAR

By Nilesh Christopher

Despite concerns thatCalifornia’s costs and regulations arebad forbusiness,the state has attracted an unprecedented pile of capital this year,and no other state is even close.

TheGoldenState’s deeppooloftalent, rich investors and other tech infrastructurehave made it ground zerofor theartificial intelligence explosion. That has helped it attract morethan $335 billioninventure capital fundingthisyear,

Thestate’s economygrew5%last year to arecord $4.25 trillion, makingitlargerthanevery country other than theU.S., China andGermany. It is home to nearly $400-billion startups —morethan any other state, accordingtoCBInsights.

Southern California hasemerged as ago-to address forfast-growingspace and defense tech companies.

“California’s workers,entrepreneurs andinnovators continue to provethatinvesting in California delivers real results,”Gov.Gavin Newsom said in astatement last week in response to strongproductivity numbers forthe state.

“Asone of the largesteconomies in the world, the Golden State demonstrates that astrong workforce, economic growth, innovation and performancego hand in hand.”

Ashopping bag sits at acheckoutcounter inside aGrocery Outlet store in San Francisco in 2019.(David Paul Morris /Bloomberg)

PalmerLuckey,founder of Anduril Industries, talksatAnduril’s headquarters in Costa Mesa in 2025.(Bloomberg)