04252014bankruptcy
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EFH Chapter 11 filing as soon as Monday: Reuters

Leading Texas power company Energy Future Holdings is expected to file for bankruptcy as early as Monday evening, sources close to the situation told sister news service Reuters on Friday, as it struggles to pay its hefty debt load of more than $40 billion because of cheap electricity prices.

Lauren Koopman

PE Seen Catching Up on Sustainability, Environment

Corporations have led the way in addressing environmental, social and governance issues, but the private equity community is catching up, says Lauren Koopman, a director in the sustainable business solutions team at the global accounting firm PricewaterhouseCoopers.

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…

Apollo, Blackstone, KKR Blaze New Path To Retail Market

So-called nontraded business development companies (BDCs) can raise money from retail investors without giving up many of the advantages and trappings of private limited partnerships. Continuous fundraising? Check. Lengthy lock-ups of capital? Check. Two-and-twenty fee structure? Check.

Six Tips for PE Firms to Avoid a Chesapeake Disaster

Deal lawyer Chris Manderson offers some important tips PE firms should follow to avoid ending up in a situation like the one EIG Global Energy is dealing with at Chesapeake Energy Corp.

Steve LeBlanc, Texas Teachers’ Maverick PE Chief, to Step Down

Steve LeBlanc, the innovative head of private investments at the $110 billion Texas Teachers’ Retirement System, the nation’s 6th largest pension, announced that he planned to step down in early June, confirmed a pension spokesman, Howard Goldman. In his four years as senior managing director, LeBlanc and his team invested $20 billion in 90 investments, according to a statement.

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Slideshow: Blackstone, Carlyle Execs Among Best Paid

Now that The Carlyle Group has finally amended its filings to include how it pays its executives, it’s become easier to compare how much money some of the most high profile executives in the industry make. Sister magazine Buyouts compared Carlyle Group’s figures for 2011 with 2010 figures for executives at Apollo Global Management, The […]

Google Pours $94M into Four Solar Projects

Google has poured $94 million into a portfolio of four solar photovoltaic projects being built by solar developer Recurrent Energy, the company announced on its blog. The deal brings Google’s investment in clean energy to more than $915 million. Google is investing alongside Kohlberg Kravis Roberts & Co. and Recurrent Energy in the projects, which are being built near Sacramento, Calif., and are designed to provide energy to the grid. In a blog post, Google said it will provide a $94 million equity investment, and SunTap Energy, a new venture formed by KKR, will provide the remaining equity.

China Tianrui Group Cement Raises $124M in I.P.O.

China Tianrui Group Cement, a company backed by buyout firm Kohlberg Kravis Roberts & Co., has raised $124 million in an initial public offering in Hong Kong, Reuters reported, citing IFR. The company, based in Henan province in eastern China, priced roughly 401 million new shares at HK$2.41 each, putting the deal at HK$966.17 million ($124.12 million), wrote Reuters.

Former Co-Managing Partner Transitioning Out Of Kohlberg & Co.

Former Kohlberg & Co. Co-Managing Partner Chris Lacovara is transitioning out of the firm as it seeks to raise $1.5 billion for its next fund, sister publication Buyouts reported. The mid-market buyout fund, started by Kohlberg Kravis & Roberts & Co. co-founder Jerome Kohlberg in 1987, has so far raised $520 million for Kohlberg Investors […]

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