peHUB’s sister publication, Buyouts, has broken the story on two ongoing auctions: one big and one small.
First off, we have AIG’s private equity assets. We knew they’d be on the block, we didn’t know who’s looking at them and whether they’d be sold piecemeal. According to the story, the business is expected to sell to a single buyer and a deal could be announced in the first week of November. While the Blackstone Group and JPMorgan are advising on the global divestiture operations, UBS is running the auction. It appears the assets have garnered attention from some PE firms and SWFs ( and I don’t mean single white females). For the full breakdown of who’s looking, what’s for sale, and the motivations and sentiments held by those at various pieces of the businesses, click here (sub. req.)
And second, there’s Energy Investors Funds, which is in talks to invest in Innovative Energy Systems LLC, a methane recovery company. From the story:
Energy Investors Funds would make the investment out of an entity called USPF III Leveraged Feeder LP, according to the regulatory filing. It is unclear what relation that entity has to United States Power Fund III LP, a $1.3 billion fund the shop closed in July 2007; or if it is simply the name of a holding company created for the transaction.
Read the rest here (sub req.)