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Goldman China Partner Retiring, Plans To Launch PE Fund
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BEIJING/SHANGHAI (Reuters) - Fred Hu, a high-profile China dealmaker is stepping down as partner of Goldman Sachs (GS.N), according to an internal memo, as sources said he plans to launch a new private equity fund.
Hu, who worked for the Wall Street bank for 13 years, will retire as a partner in April, but remain as an advisory director of the firm, according to the memo obtained by Reuters. An investment arm of China Construction Bank (601939.SS) (0939.H |
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Goldman Sachs Cuts Infrastructure Fund Target
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| Posted on: March 2nd, 2010 |
(Reuters) - Goldman Sachs Group (GS.N) has cut the $7.5 billion fundraising target for its second infrastructure fund by more than half after failing to secure enough commitments, people familiar with...
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Goldman Sachs Invests in Tora Holdings
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| Posted on: February 24th, 2010 |
Goldman Sachs has made an undisclosed minority investment in Tora Holdings, a provider of trading technology and financial services based in Asia. FT Partners served as exclusive strategic and financi...
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Goldman Sachs Buying Metro International from Monitor Clipper
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| Posted on: February 22nd, 2010 |
(Reuters) - Goldman Sachs (GS.N) plans to buy U.S.-based warehouse and logistics company Metro International Trade Services, a Goldman Sachs spokesman said on Friday.
The official didn't say how mu...
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Century 21 China Plans $150 Million IPO
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| Posted on: January 6th, 2010 |
HONG KONG (Reuters) - Property agent Century 21 China Real Estate, partly owned by Goldman Sachs (GS.N), aims to raise US$150 million in an initial public share offering on the New York Stock Exchange...
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Goldman Selling Half Its Shineway Group Stake
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| Posted on: November 4th, 2009 |
HONG KONG (Reuters) - Goldman Sachs (GS.N) has agreed to sell half of its holding in Shineway Group, China's top meat processor, to a Chinese fund for about $150 million, earning roughly five times it...
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KKR-Backed Capmark Nearing Bankruptcy
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| Posted on: October 13th, 2009 |
(Reuters) - Capmark Financial Group Inc., the commercial real estate company created through a 2006 leveraged buyout of certain GMAC assets, is preparing to file for bankruptcy possibly by the end of ...
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Goldman In Talks To Buy Geely Bonds
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| Posted on: September 21st, 2009 |
SHANGHAI/HONG KONG (Reuters) - An investment arm of Goldman Sachs (GS.N) is in talks with Chinese car maker Geely Automotive (0175.HK), which has been linked with both Volvo and Opel, to buy about $25...
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Goldman Banker Tom Tuft Joining Lazard
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| Posted on: August 18th, 2009 |
Tom Tuft has agreed to join Lazard as chairman of the firm's global capital markets advisory, and vice chairman of U.S. investment banking. He begins work at Lazard in November, and previously was cha...
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Goldman Sachs Bankers Joins Brand.net
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| Posted on: July 27th, 2009 |
Cindy Panchula has joined online advertising network Brand.net as vice president of finance. She previously was with Goldman Sachs as vice president of equity capital markets and tech, media and telec...
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Buffett: I’m Keeping My Goldman Sachs Warrants
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| Posted on: July 24th, 2009 |
NEW YORK (Reuters) - Warren Buffett said he has no plans to soon exercise Berkshire Hathaway Inc's warrants to buy $5 billion of Goldman Sachs Group Inc stock, although he could make a big profit by d...
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Financial Investors May Buy Vattenfall Grid
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| Posted on: July 12th, 2009 |
FRANKFURT (Reuters) - A financial investor group has emerged as the final candidate to buy Vattenfall's German power grid in what would be one of the few European infrastructure deals this year, peopl...
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Goldman Code Culprit Can Dance
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| Posted on: July 8th, 2009 |
In the latest breaking development of the Case of the Stolen Secret Sauce, my colleagues at Reuters have alerted me to a mildly amusing Youtube video of Sergey Aleynikov, the Goldman Sachs programmer ...
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Goldman’s Asia M&A Co-Head To Retire
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| Posted on: June 23rd, 2009 |
HONG KONG (Reuters) - One of the top mergers and acquisitions bankers at Goldman Sachs (GS.N) in Asia is retiring after 19 years with the firm, according to a memo obtained by Reuters on Tuesday.
J...
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Report: Goldman Sachs On Pace for Record Bonuses
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| Posted on: June 22nd, 2009 |
NEW YORK (Reuters) - Goldman Sachs Group Inc is on pace to make record bonus payouts after a robust first half, the Guardian newspaper reported on Sunday.
Goldman staff in London were briefed on th...
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Ex-Goldman Asia Banker Zhang Joins Chinese PE Firm
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| Posted on: June 9th, 2009 |
HONG KONG (Reuters) - Zhang Yi, former co-head of Goldman Sachs' (GS.N) Asia Special Situations Group (ASSG), has joined a Chinese private equity firm to run a newly established $400 million fund, sou...
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Ahlsell Asks Lenders To Reset Loan Covenants
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| Posted on: June 2nd, 2009 |
LONDON (Reuters) - Privately-owned Swedish heating and plumbing products supplier Ahlsell is asking its lenders to relax covenants on its loans, two sources close to the talks said on Tuesday.
In e...
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Pine Brook, Others Invest In Mortgage Insurer
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| Posted on: May 28th, 2009 |
Brook Road Partners Goldman Sachs J.P. Morgan PartnerRe Renaissance Re |
Pine Brook Road Partners, Goldman Sachs, J.P. Morgan, PartnerRe, and Renaissance Re have invested $500 million in equity funding to mortgage insurer Essent US Holdings, a Radnor, Penn.-based subsidiar...
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Terralliance Investors Re-up
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| Posted on: May 20th, 2009 |
Terralliance, a natural resource discovery company, says it raised more money from its existing investors and added new investors.
Company spokesperson Gordon Burk declined to comment on the size o...
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Terraliance Secures New Funding
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| Posted on: May 18th, 2009 |
Terraliance Technologies, an energy exploration company backed by Kleiner Perkins Caulfield & Byers, Goldman Sachs, DAG Ventures and Passport Capital, has raised another round of funding to scale its ...
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PE Firms Circle Chinese Med Dev Co Landwind
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| Posted on: May 7th, 2009 |
HONG KONG/SHANGHAI (Reuters) - Buyout funds including Bain Capital and an investment arm of Goldman Sachs (GS.N) are in preliminary talks to buy into a Chinese medical device seller and maker backed b...
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PE-Backed Energy Future Posts Q1 Profit
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| Posted on: May 3rd, 2009 |
NEW YORK (Reuters) - Privately owned power company Energy Future Holdings Corp reported a $442 million quarterly profit on Friday, compared with a big loss a year earlier, a plus for the three private...
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TPG Holds Numerous Honors, Including Biggest Fee-Payer
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| Posted on: April 27th, 2009 |
In addition to the TPG Capital’s recent crowning as the largest buyout firm of 2008, the firm can now add “top fee-payer” to its trophy case as well. According to data from the investment bank F...
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New Goldman Secondary Fund Already Marked Down
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| Posted on: April 13th, 2009 |
Goldman Sachs today announced that it had raised $5.5 billion for its fifth secondaries fund, making it the largest such vehicle of all time. What Goldman didn't announce, however, was that it's alrea...
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Goldman Sachs Closes $5.5 Billion Secondaries Fund
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| Posted on: April 13th, 2009 |
Goldman Sachs has closed its fifth secondaries fund with approximately $5.5 billion in capital commitments. Its previous secondaries fund closed in 2006 with $3 billion.
PRESS RELEASE
Goldman Sach...
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Are Buyout Firms Making The Same Mistake As Goldman Sachs?
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| Posted on: April 7th, 2009 |
You may remember Goldman Sachs Liquidity Partners III LP. The group, part of Goldman's hedge fund group, raised $1.8 billion in late 2007, including $100 million from Goldman itself. Levering it 3x, t...
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Kleiner-Backed Terralliance Begins To Implode
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| Posted on: April 2nd, 2009 |
Kleiner Perkins is on the verge of having a massive crater in its energy portfolio, but it has nothing to do with cleantech. Instead, the trouble involves Terralliance, a stealthy oil and gas explora...
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Nycomed Hires Goldman To Weigh Sale
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| Posted on: March 23rd, 2009 |
LONDON (Reuters) - Privately owned Swiss drugmaker Nycomed has hired Goldman Sachs (GS.N) to explore a possible sale of the company, the Wall Street Journal reported online on Monday.
The paper, ci...
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Goldman Taking Japan’s Universal Studios Private
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| Posted on: March 18th, 2009 |
TOKYO (Reuters) - U.S. bank Goldman Sachs (GS.N) will bid for USJ Co Ltd (2142.T) this month to take the operator of Japan's Universal Studios theme park private, three people familiar with the matter...
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NetJet Looks To Take Off With $1.4 Billion
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| Posted on: March 18th, 2009 |
Warren Buffet’s executive air-travel company NetJets has hired Goldman Sachs to raise up to $1.4 billion in debt, according to a government filing.
NetJets has $1.2 billion of short-term debt not...
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Musings on Goldman’s Reallocation Plan
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| Posted on: March 18th, 2009 |
Yesterday’s big private equity news was that GS Capital Partners, the PE arm of Goldman Sachs, wants to reallocate half of its remaining dry powder toward stressed and distressed debt opportunities ...
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Goldman Can’t Vote On Its Own Strategy Shift
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| Posted on: March 17th, 2009 |
GS Capital Partners is making a plea to its LPs, and it doesn’t have the support of the largest one—itself.
GSCP, a private equity arm of Goldman Sachs, is seeking approval from 50% of its inv...
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Goldman Sachs To Spend Part of PE Fund on Distressed Debt
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| Posted on: March 17th, 2009 |
LONDON (Reuters) - U.S. Investment bank Goldman Sachs (GS.N) plans to spend part of its $20.3 billion private equity fund on acquiring distressed debt, a source familiar with the situation said.
Of...
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McJunkin Trashes IPO
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| Posted on: March 17th, 2009 |
McJunkin Red Man Holding Corp., a Tulsa-based industrial pipe supplier owned by GS Capital Partners, has withdrawn registration for a $750 million IPO. The company had planned to trade on the NYSE, wi...
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Report: Setanta Sponsors Write Off Investment
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| Posted on: March 15th, 2009 |
LONDON (Reuters) - Two investors in Setanta have written off the value of their investments in the Irish pay television broadcaster after it lost one of its deals to show live Premiership soccer, acco...
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War on Greed Gets a New Enemy: Goldman Sachs
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| Posted on: February 18th, 2009 |
[Updated below with filmmaker comments] Brave New Films yesterday released the latest video in its War on Greed series, which previously had focused most of its attention on Henry Kravis and KKR. The ...
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Lone Star, Goldman Bid for Failed Japanese REIT
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| Posted on: February 13th, 2009 |
TOKYO (Reuters) - Lone Star, the Development Bank of Japan and Goldman Sachs Group Inc (GS.N) are among the final bidders for failed Japanese real estate investment trust New City Residence Investment...
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