Investment firm Aveon Group withdraws IPO

Investment firm Aveon Group withdrew its plans for an initial public offering on Friday. The company, which was formed to acquire interests in a group of hedge funds, had originally postponed its offering in February and formally withdrew today with the SEC, citing poor market conditions as the primary reason. The Marblehead, MA-based company was founded in 2010 and had an initial proceeds target of approximately $235 million. J.P. Morgan, Jefferies, and BMO Capital Markets were set to be the lead underwriters on the deal.