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TPG Selling Midwest Airlines to Republic Airways

Posted on: June 23rd, 2009

CHICAGO (Reuters) - Republic Airways Holding Inc. said on Tuesday it would buy Midwest Airlines from private equity group TPG Capital for $6 million in cash and a $25 million note. In addition to...

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Looking To Exit Chinese Bank, TPG Heeds Earlier Lesson

Posted on: June 17th, 2009

Shenzhen Development Bank TPG Capital

HONG KONG/SHANGHAI (Reuters) - Chinese regulators are expected to approve a change of ownership at Shenzhen Development Bank (000001.SZ) that will allow U.S. private equity firm TPG to exit its bigges...

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Ping An To Buy Stake in TPG-Backed Shenzhen Bank

Posted on: June 12th, 2009

Newbridge Capital Ping An Shenzhen TPG Capital

HONGKONG (Reuters) - China's Shenzhen Development Bank (000001.SZ) plans to raise at least 8 billion yuan ($1.17 billion) selling a stake to Ping An Insurance (Group) (2318.HK) via a private placement...

Erin Griffith

Junk Bonds: Investors Hungry For Risk or Just Hungry For Anything?

Posted on: June 11th, 2009

Apollo Management Freeman Spogli & Co TPG Capital Trimaran Capital Partners

May was a big month for junk bonds: More than $15.9 billion worth of the high yield notes were issued, which was the highest monthly total since June 2008. That figure includes issuances from several...

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Carlyle, TPG Submit Bids for Asciano

Posted on: June 9th, 2009

Asciano Carlyle Group TPG Capital

SYDNEY (Reuters) - Australian rail and ports operator Asciano Ltd (AIO.AX) has received four final bids, including proposals from private equity group Carlyle Group CYL.UL, to either buy the whole com...

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TPG In Lead for Indian Retailer Pantaloon

Posted on: June 9th, 2009

Pantaloon TPG Capital

MUMBAI (Reuters) - U.S.-based private equity firm TPG is leading the race to buy a less than 15 percent holding in Pantaloon Retail (India) Ltd (PART.BO), the Mint reported on Tuesday, citing two peo...

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Debenhams Plans £300 Million Offering

Posted on: June 3rd, 2009

CVC Capital Debenhams TPG Capital

LONDON, June 3 (Reuters) - British department stores group Debenhams (DEB.L) plans to raise over 300 million pounds ($499 million) on Thursday in a placing and open offer of new shares, two sources fa...

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Former TPG General Counsel Joins Southlake Equity

Posted on: May 26th, 2009

Southlake Equity TPG Capital

David A. Spuria joined middle market private equity firm Southlake Equity Group as Partner and General Counsel. Mr. Spuria was formerly the General Counsel of Fort Worth-based TPG Capital, one of the ...

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TPG Invests In Bonds of Chinese Shoe Co.

Posted on: May 26th, 2009

TPG Capital

TPG has agreed to invest RMB 550 million ($80.19 million) in the convertible bonds of Daphne International Holdings Limited, a footwear company based in China. Press release: Daphne Internationa...

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PE-Backed Energy Future Posts Q1 Profit

Posted on: May 3rd, 2009

Energy Future Goldman Sachs KKR TPG Capital TXU

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...

Erin Griffith

TPG Holds Numerous Honors, Including Biggest Fee-Payer

Posted on: April 27th, 2009

Goldman Sachs TPG Capital

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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British Vita Lenders Approve Swap

Posted on: April 20th, 2009

British Vita TPG Capital

LONDON (Reuters) - Lenders to UK chemicals group British Vita have agreed a debt for equity deal that will see its current owner TPG Capital and lenders inject extra cash into the company, a person c...

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TPG Offers Asia Fund Size Reduction

Posted on: April 14th, 2009

TPG Capital

NEW YORK (Reuters) - TPG Capital has given investors in its latest Asian fund the option of reducing their commitments by up to 10 percent, or up to $420 million in total, the Texas-based private equi...

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Buyout Firms Vie for Barclays’ iShares

Posted on: March 21st, 2009

Barclays Hellman & Friedman iShares TPG Capital

LONDON/NEW YORK (Reuters) - Private equity groups Hellman & Friedman, Bain Capital and TPG Capital have each shown interest in the iShares unit from British bank Barclays (BARC.L), sources familia...

Megan Davies

TPG Writes Down Latest Fund by 29%

Posted on: March 19th, 2009

TPG Capital

NEW YORK (Reuters) - Texas-based private equity firm TPG wrote down the value of investments in its latest buyout fund by 29 percent at the end of 2008, according to a document obtained by Reuters on ...

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Aleris Wins $1 Billion in Bankruptcy Financing

Posted on: March 17th, 2009

Aleris International TPG Capital

NEW YORK (Reuters) - Aleris International Inc [TXPACA.UL] will get court approval for more than $1 billion in bankruptcy financing to keep the maker of aluminum rolled products operating as it restruc...

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Aleris Delays DIP Hearing as Lenders Flight

Posted on: March 11th, 2009

Aleris International TPG Capital

NEW YORK (Reuters) - Aleris International Inc TXPACA.UL, the bankrupt maker of aluminum rolled products, on Wednesday said it would delay a court hearing to approve its $1.075 billion bankruptcy loan ...

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FT: TPG In Fight Over Aleris Funding

Posted on: March 2nd, 2009

Aleris International TPG Capital

(Reuters) - U.S. private equity firm TPG is offering to provide bankruptcy financing for Aleris International Inc, a company that it owns, in a strategy that could put it in the position of being paid...

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TPG’s China Bank Stake May Return to Local Hands

Posted on: February 25th, 2009

Newbridge Capital Shenzhen Development Bank TPG Capital

SHANGHAI/HONG KONG (Reuters) - Shenzhen Development Bank (SDB) (000001.SZ), China's first foreign investor-controlled lender, will likely return to local ownership if U.S. private equity giant TPG Cap...

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Shenzhen Bank Shares Leap on Merger Report

Posted on: February 23rd, 2009

Newbridge Capital Shenzhen TPG Capital

SHANGHAI (Reuters) - China Development Bank said it had no plan to buy Shenzhen Development Bank (000001.SZ), whose shares rose 10 percent on Monday after local media reported it might be bought by th...

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TPG-Backed Aleris Files for Chapter 11

Posted on: February 12th, 2009

Aleris International TPG Capital

NEW YORK (Reuters) - Aleris International Inc, producer of aluminum rolled products, extrusions and recycling, said on Thursday it filed for bankruptcy protection for its U.S. operations in U.S. Bankr...

Erin Griffith

LBO-Backed Bankruptcies 2009: One Month, 11 Down

Posted on: February 9th, 2009

Avista Capital Partners Carlyle Group Highland Capital Partners NRDC Equity Pegasus Capital Sun Capital Partners TPG Capital Versa Capital Warburg Pincus Wynnchurch Capital

Just over a month into 2009 and we've already seen 11 LBO-backed bankruptcies. That's up over the eight we had this time last year, but nowhere near the massive wave some were predicting. In fact, ...

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PE Firms Circle UK Insurer Just Retirement

Posted on: February 9th, 2009

Cinven General Atlantic Just Retirement TPG Capital

Cinven, a pan-European buyout firm, is in pole position to buy AIM-listed insurer Just Retirement. Rival private equity firms are reported to be Cinven’s main competition with TPG Capital and Gen...

Erin Griffith

Only a Matter of Time for TPG’s Aleris

Posted on: February 6th, 2009

Aleris TPG Capital

Aleris, the aerospace supplier backed by TPG Capital, is preparing to file for Chapter 11 bankruptcy protection, according to Debtwire. The company reportedly is looking for $400 million in DIP fin...

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TPG Cuts Size of Distressed Fund

Posted on: February 6th, 2009

TPG Capital

(Reuters) - U.S. private equity firm TPG Capital is scaling back the $6 billion fund it raised to invest in distressed financial companies, the Financial Times reported. TPG told investors it has d...

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Report: TPG Breaks Off Stake Sale

Posted on: February 3rd, 2009

TPG Capital

LONDON (Reuters) - U.S. private equity firm TPG has broken off talks to sell a stake in itself to investors including Kuwait's sovereign wealth fund and two California state pension funds, the Financi...

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TPG Pulls Out of ILFC Auction

Posted on: January 29th, 2009

AIG TPG Capital

NEW YORK (Reuters) - Private equity firm TPG Capital has dropped out of an auction for American International Group Inc's (AIG.N) aircraft leasing unit, International Lease Finance Corp, sources famil...

Dan Primack

Don’t Call It A Layoff: TPG (Barely) Thins Roster

Posted on: January 23rd, 2009

TPG Capital

A handful of deal professionals have left TPG Capital over the past few weeks, peHUB has learned. We hear the moves were all one-off situations, rather than part of firm-wide layoffs (TPG has over 2...

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S&P Downgrades TPG-Backed Aleris

Posted on: January 7th, 2009

Aleris International TPG Capital

Standard & Poor's Ratings Services has lowered the corporate credit ratings of Aleris International Inc. from B to CCC+, and left its ratings on CreditWatch with “negative implications.” The B...

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Alltel Sale Set To Close Friday

Posted on: January 5th, 2009

Alltel TPG Capital

Verizon Wireless said that it will close its $28.1 billion acquisition of rural mobile service provider Alltel Corp. on January 9. The deal includes the assumption of approximately $22.2 billion in de...

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China ForEx Burned by WaMu Collapse

Posted on: December 31st, 2008

TPG Capital Washington Mutual

HONG KONG (Reuters) - China's foreign exchange watchdog, the State Administration of Foreign Exchange, will cut back on overseas equity buys next year after suffering major losses on the collapse of U...

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Bonderman Resigns from WaMu Board

Posted on: December 15th, 2008

TPG Capital Washington Mutual

David Bonderman, a co-founding partner of TPG Capital, has resigned from the board of Washington Mutual Inc. TPG had led a $7 billion capital infusion into WaMu in April, but the company filed for...

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TPG Capital Selling BankThai

Posted on: November 25th, 2008

TPG Capital

BANGKOK (Reuters) - U.S.-based private equity firm TPG Capital said on Tuesday it had agreed to sell its 37 percent stake in Thailand's BankThai to Malaysia's CIMB . That would increase CIMB's holding...

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TPG Eyes Debt Assets Sold by Hedge Funds

Posted on: November 14th, 2008

TPG Capital

HONG KONG (Reuters) - David Bonderman, one of the the most influential figures in the U.S. private equity industry, said on Thursday his firm, buyout giant TPG Capital TPG.UL, wanted to buy debt asset...

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TPG To Invest Up to $150 Million into CIMB Bank

Posted on: November 3rd, 2008

CIMB TPG Capital

KUALA LUMPUR, Nov 3 (Reuters) - U.S. private equity firm Texas Pacific Group Capital [TPG.UL] will invest up to $150 million in Malaysia's Bumiputra-Commerce Holdings Bhd (BCHB), the listed vehicle of...

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TPG Discusses Cash Infusion for ON Semiconductor Corp.

Posted on: October 30th, 2008

On Semiconductor TPG Capital

SAN FRANCISCO (Reuters) - ON Semiconductor Corp (ONNN.O: Quote, Profile, Research, Stock Buzz) has reached out to private equity for a cash infusion as it seeks alternatives to issuing debt to buy som...

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More Markdowns for Harrah’s Investors

Posted on: October 27th, 2008

Apollo Management Blackstone Group Harrah's TPG Capital

NEW YORK (Reuters) - Private equity firms TPG and Apollo Management LP are going to have to mark down their investments in Harrah's Entertainment, as the casino giant grapples with a soft economy and ...

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TPG Still Pursuing Asciano

Posted on: October 22nd, 2008

TPG Capital

MELBOURNE, Oct 22 (Reuters) - Asciano Ltd (AIO.AX: Quote, Profile, Research, Stock Buzz), Australia's biggest port and rail operator, said a private equity consortium led by TPG may seek further discu...

Erin Griffith

Mega-Buyout Firms Getting Stomach Aches From Gobbling Up Discounted Debt

Posted on: October 13th, 2008

Apollo Management Blackstone Group Carlyle Group TPG Capital

Only Fools Rush In? In today's Wall Street Journal, Peter Lattman spelled out a fear I've been hearing on the tips of buyout pro tongues for a week or two now: All those leveraged loans gobbled up by ...

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Former US Air CEO Takes Cockpit at XOJet.

Posted on: October 6th, 2008

TPG Capital XOJet

Oct 6 (Reuters) - XOJet Inc, a private aviation company backed by buyout firm TPG Inc, on Monday named former US Airways Group Inc (LCC.N) head David Siegel as its chief executive. Siegel, who was ...

Dan Primack

WaMu: The Worst Deal in Private Equity History?

Posted on: September 26th, 2008

TPG Capital WaMu

Updated Before I get into this, three quick caveats: (1) I just left our Seattle Shindig, after consuming a plethora of Red Stripes; (2) I'm sitting at the airport awaiting a red-eye back to Boston; a...