Oaktree Capital LLC, the world’s largest distressed debt investor, said its two founders could each receive as much as $79.9 million in a secondary offering of its shares if the firm clears net proceeds of $367.6 million, Reuters is reporting.
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Pantheon said on Monday that it will team up with Sponsors for Educational Opportunity (SEO) in an initiative to increase hiring of minority applicants in private equity. As part of this initiative, Pantheon has offered a multi-year financial pledge to SEO. Pantheon has also committed to offer summer internships in its New York office to SEO program participants. And through participation in SEO events and workshops, Pantheon will seek to encourage more minority college undergraduates to become interested in careers in private equity.SEO is a nonprofit educational and career development organization that helps young people from underserved and underrepresented communities.
Ten Hot Stories: LPs Talk Tough to VCs, ‘First Close’ Gets More Elusive, Twitter’s Costolo Talks VCs and Burritos
Trending on peHUB this week: disgruntled LPs, Twitter, Dick Costolo, Marc Andreessen, TPG, Quintiles, Northern Tier, Apollo, Blackstone, NYSTRS, Grotech Ventures, LBO returns and CTI Foods
10 Hot Stories this Week: Kleiner Attempts Combeback, I-Banks Slowly Add Staff, Carlyle and Goldman Are Hiring
Trending on peHUB this week: Carlyle, Goldman Sachs, Kleiner Perkins, TPG, Advent Software, Google Ventures, CrunchFund, GRP, Velos Partners, corporate VC, Bain, BMC, Antero Resources, Warburg.
Private equity firm Carlyle Group LP on Thursday reported flat first-quarter profit and a decline in cash generated from managing and selling assets, despite strong capital markets that helped boost earnings for its peers, Reuters is reporting.
Trending on peHUB this week: Uber, CorePower Yoga, Insight Venture Partners, KKR, Cerberus, RetailNext, Carlyle, Wyoming Loan and Investment Board, VC disruption, job openings at Benchmark and Bay City.
Klöckner Pentaplast, a producer of rigid plastic films for packaging, has priced 225 million euros in Senior PIK notes, the company announced Friday. Klöckner Pentaplast is a portfolio company of SVP Global. Proceeds will be used to partially refinance Preferred Equity Certificates that were issued when the company was acquired by a group led by SVP Global in a June 2012 recapitalization, the company said.
Verizon said on Tuesday it plans to invest $100 million in solar power and fuel cells at 19 facilities in seven U.S. states to cut its carbon footprint and make its operations more resilient to storms and other disasters, Reuters reported. The energy project should be complete by next year, with installations at corporate offices, call centers, data centers and central offices of the telecommunications giant in Arizona, California, Maryland, Massachusetts, New Jersey, New York and North Carolina. The fuel cells will be powered by natural gas, which emits less climate-warming carbon dioxide than diesel or petroleum when burned, said James Gowen, chief sustainability officer for Verizon Communications Inc.
Trending in this week on peHUB: Mark Suster, VC disruption, PE fundraising, associate openings, Welsh, Carsoni, Triple Point, how VCs can affect startup success, Catterton, Blackstone, Chicago Growth, Caesars, Aydin Senkut and Dave McClure.