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Five Point and GSO invest in Twin Eagle

Five Point Capital Partners and GSO Capital Partners have acquired a 50 percent stake in Twin Eagle Resource Management from Chesapeake Energy Corp. and LS Power Group. No financial terms were disclosed. Also, Five Point, GSO and Twin Eagle’s management have committed to invest up to an additional $200 million to support Twin Eagle’s next growth phase. Headquartered in Houston, Texas, Twin Eagle is a natural gas and power marketing company.

U.S. PE Deal Value Jumped 78% in January

A surge of deal announcements in early January helped push up monthly transaction totals. The value U.S. private equity transactions rocketed by 78% to $8.2 billion in January, Thomson Reuters data says.

Texas Teachers’ Pledged $1.1B In Fourth Quarter

The giant Texas Teachers’ Retirement System committed more than $1.1 billion to private equity across seven investments in the fourth quarter, with some pledges going to long-time partners and some to new relationships…

Florida Reaches Torrid $6 Billion Commitment Pace

The pace of new private equity and alternative investments at the Florida State Board of Administration is likely to reach about $6 billion in fiscal 2012-2013, as Florida’s primary $126 billion pension fund gradually ramps up its allocations to so-called strategic investments from zero to 11 percent of the portfolio…

Legacy Reserves Announces New CFO

Midlands, Texas-based Legacy Reserves has appointed Dan Westcott as Executive VP and CFO, effective later this month. Westcott was previously a principal at GSO Capital Partners, a division of the Blackstone Group. Legacy Reserves is an independent oil and natural gas limited partnership that is focused on the acquisition and development of oil and natural gas […]

Reuters – Blackstone Unit to Buy Land from Hovnanian

Blackstone‘s credit unit has agreed to buy a portfolio of land from Hovnanian Enterprises in a $125 million deal, writes Reuters. Hovnanian, which builds single-family homes, townhouses and condominiums, will have an option to buy back finished lots on a quarterly basis from Blackstone’s GSO Capital Partners unit, writes Reuters. (Reuters) – Blackstone Group’s (BX.N) […]

PE Consortium Acquires Tekelec

Mobile broadband solutions company Tekelec is to be acquired by a consortium led by Siris Capital Group and including affiliates of The ComVest Group, funds and accounts managed by GSO Capital Partners LP, Sankaty Advisors, ZelnickMedia and other Siris limited partners and affiliates. The transaction is valued at approximately $780 million. PRESS RELEASE Tekelec, the […]

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