Belgium has pared back its public debt with the sale of the structured credit portfolio held by its ‘bad bank, Royal Park Investments, to U.S. private equity firm Lone Star and Credit Suisse, writes Reuters. Finance minister Koen Geens said in March that Belgium needed to find a further 1 billion euros ($1.30 billion) from asset sales to ensure that national debt did not rise above GDP, writes Reuters.
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(Reuters) – Credit Suisse Group AG has agreed to sell a private equity business to Blackstone Group. The business, named Strategic Partners, has $9 billion in assets under management and has completed over 700 transactions and acquired over 1,400 underlying limited partnership interests since its launch in 2000.
Blackstone said Monday it had agreed to buy Strategic Partners, Credit Suisse’s dedicated secondary private equity business. Financial terms weren’t announced. The sale is part of Credit Suisse’s strategic divestment plans that it announced in July. Strategic Partners has $9 billion in assets under management.
A mixed bag of job vacancies this week including associate and senior associate positions, investment director and secondaries investment manager at some big name private equity fund managers.
PE firm Asia Growth Capital Advirors Acquires Portfolio of Investments from Credit Suisse and Others
Singapore-based Asia Growth Capital Advisors (AGCA) has acquired of a portfolio of private equity investments in Asia from Credit Suisse, its affiliates and other investors in Credit Suisse Private Equity Asia Partners, L.P. AGCA worked with HarbourVest Partners, which was the lead investor in the transaction.
This morning First Read brings you the latest on Thomson Reuters’ investable venture capital index; where buyout firms are seeking more dividend loans and finds out what states are laden with the most student debt and therefore hungry to earn back the cash.
Edward Yorke has joined Lazard as an MD, financial advisory and head of North America financial sponsors. He will be based in New York and work closely with Fotis Hasiotis, Lazard’s head of European financial sponsors in London. Yorke joins from Credit Suisse where he was an MD and Vice Chairman, Investment Banking, Americas.
Panda Power Funds affiliate Panda Sherman Power has successfully completed the financing on its planned 758-megawatt natural gas-fueled, combined-cycle power plant in Sherman, Texas. The company will immediately start construction on the 204-acre site and expects commercial operations to begin by the end of 2014. Goldman Sachs and Credit Suisse arranged the senior debt financing for the plant. Ares Capital was the documentation agent.
Turkish hospital group Medical Park has mandated Goldman Sachs and Credit Suisse to look into a possible sale or intial public offering, according to private equity firm Carlyle Group and the two other Turkish shareholders, writes Reuters. Carlyle took a 40 percent stake in Medical Park in 2009 for an undisclosed amount alongside founders Dr [...]
Waller Capital Partners said Monday that William Bradley has joined the firm as an MD. Bradley will lead Waller’s efforts with data center, managed hosting and cloud computing clients, the New York investment bank said. Bradley joins from Credit Suisse where he was head of telecommunications M&A in the U.S. PRESS RELEASE Waller Capital Partners, [...]