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Oaktree invests in Timbers

Oaktree has acquired a majority stake in Timbers Resorts. No financial terms were disclosed. In addition to the investment, John Brady, global head of real estate for Oaktree and David Burden, founder and CEO of Timbers, have been named co-chairmen of Timbers with Burden serving as executive chairman. Timbers is a developer and operator of luxury boutique resorts and residence clubs worldwide.

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Trending on peHUB this week: 500 Startups openly markets new fund, Harvard and Nebraska Investment Council post job openings, and Formation 8 grabs spotlight.

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Store Capital taps banks for IPO or $2 billion sale – Reuters

Real estate owner Store Capital, backed by private equity firm Oaktree Capital Management, has retained banks to explore an initial public offering or a sale to another landlord, writes Reuters. Scottsdale, Arizona-based Store Capital buys portfolios of real estate from large tenants, such as chain restaurants, supermarkets and health clubs, and then leases the properties back to the tenants.

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Oaktree to acquire Highstar team

Oaktree Capital Management has agreed to acquire the Highstar Capital team. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of 2014. Headquartered in New York City, Highstar is an infrastructure investment firm.

Stock Spirits trades down on London debut – Reuters

Drinks maker Stock Spirits traded lower on its London stock market debut, after pricing its shares at the mid-point of its target range in a sale which valued the company at 470 million pounds ($760 million), writes Reuters. The British based-firm said majority-owner Oaktree Capital Management and company management had raised 206.5 million pounds from the offering.

Billabong signs refinancing deal – reuters

Australia’s Billabong International accepted a sweetened refinancing proposal from hedge funds Oaktree Capital Management and Centerbridge Partners, and appointed an industry veteran as its new chief executive, writes Reuters. The moves could help the surfwear company turn around its performance, which has been hit by slumping sales of its key brands and a costly expansion strategy since it knocked back a A$850 million ($794.71 million) private equity bid last year.

Slideshow: The Year’s Top Private Equity Deals

Last week, we discovered which private equity firm was the biggest dealmaker. Now it’s time for the largest PE deals of the year. Global PE-backed M&A totaled $267 billion so far in 2012, a 12% drop from 2011, according to preliminary data from Thomson Reuters. Private equity-backed mergers targeting the U.S. reached roughly $137 billion year-to-date, a 7% decline from 2011.

Spirit Airlines Announces Sale of Common Stock by Oaktree

Spirit Airlines has announced the public offering of 9,394,927 shares of common stock by certain existing stockholders affiliated with Oaktree Capital Management. Upon completion of the offering, investment funds affiliated with Oaktree will own no shares of common stock of Spirit Airlines. The company will not receive any proceeds from this offering. Deutsche Bank Securities […]

Khosla’s SVP Raises Close to $270M for Latest Euro Fund

Strategic Value Partners LLC, the $4 billion hedge fund and private equity house started by distressed investing guru Victor Khosla, has secured close to $270 million in approvals and commitments for a distress-for-control European opportunities buyout fund, according to a source close to the firm. The target for the fund, Strategic Value European Opportunities (USD) […]

Sponsors Generate $500M+ Through Secondary Offerings: CORRECTED

Several LBO shops in recent weeks have taken advantage of a reasonably healthy stock market to sell down stakes in public companies whose share prices have bloomed since going public, Buyouts reports in its June 4 edition. Separate sales on the secondary market by Blum Capital Partners, Clayton, Dubilier & Rice, Oaktree Capital Management, Sun Capital Partners […]

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