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Blackstone and the art of flexible capital

In a room full of eager young, suit-clad MBA students, and his industry peers, Blackstone Group senior managing director David Blitzer got positively Zen about his role in changing the nature of private equity.

Hony Capital considering United Biscuits bid – Reuters

Chinese private equity firm Hony Capital is examining a bid for Britain’s United Biscuits Holdings Ltd and may be teaming up with a corporate buyer, Bloomberg reported, writes Reuters. Beijing-based Hony Capital, which manages more than $6.8 billion, has held informal talks with United Biscuits owners’ Blackstone Group and PAI Partners.

First bids for Australia’s Transpacific waste unit due early Dec – Reuters

First-round bids are due in December for Transpacific Industries Group Ltd‘s New Zealand waste management unit, which is attracting interest from international private equity firms and trade bidders, writes Basis Point a Thomson Reuters publication. Suitors are said to include private equity giants Blackstone Group and Carlyle Group, as well as Japan’s Orix and New Zealand infrastructure investor Infratil.

Blackstone China chairman steps down to join HK conglomerate – Reuters

Blackstone Group‘s Antony Leung is leaving his role as greater China chairman to lead a Hong Kong-based property conglomerate, writes Reuters. Blackstone is the second global buyout firm in a week to announce a senior leadership change in Asia, after TPG Capital brought senior partner Tim Dattels back from the United States to co-lead the region.

British entertainments group Merlin to float in London – Reuters

Private-equity backed Merlin Entertainments plans to sell at least 20 percent of its shares in an initial public offering in London, writes Reuters. Merlin, the owner of Madame Tussauds and Legoland, said it would raise 200 million pounds ($323.8 million) from the sale of new shares to reduce debt. Its owners, the Danish investment company Kirkbi that controls Lego Group and private equity firms Blackstone Group and CVC, will also sell some of their holding.

TPG-backed Northstar plans SE Asia buyout fund – Reuters

TPG Capital -backed Indonesian private equity firm Northstar Group is seeking to raise around $1 billion in a new fund to invest in Southeast Asia, people familiar with the matter told Reuters. Northstar, established in Indonesia in 2003, is one of Southeast Asia’s home-grown buyout firms and is facing rising competition from global rivals like KKR & Co and Blackstone Group, both of which have moved teams into the region in the last year.

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