For LPs looking to invest in a fund, track record isn't as important as the people managing the pool, according to a survey from Green Peak Partners. More than two-thirds, or 68% of LPs, said that the most important criterion for evaluating whether to invest in a fund was the "perceived strength" of the team members. Only 40% said that "track record" was vitally important, the survey said.
NEW YORK, May 27 (Reuters) – Credit Suisse has hired Don Birchenough, the former head of telecom mergers and acquisitions at Deutsche Bank, two people familiar with the matter said. Birchenough will jointly head up the technology, media and telecom M&A group in the Americas with Steve Geller in New York. A Credit Suisse spokesman […]
Omninet Capital announced Friday that it has acquired the Sahara Rainbow Center, a retail center in Las Vegas. Terms of the deal were not released. Omninet is focused on investments in real estate, middle-market private equity and late stage venture capital.
Hana Financial Group is in talks with U.S. private equity firm Lone Star to buy a smaller, 10% stake in Korea Exchange Bank, Reuters reported Friday. Hana agreed to buy Lone Star's 51% stake in KEB late last year, but the deal has been beset by regulatory and legal hold-ups, and disagreements over pricing. Buying a 10% or smaller stake would showing Hana's commitment to the deal and keep the parties at the negotiation table to give them time to save the deal, Reuters wrote.
British foreign exchange company Travelex, which is owned by private equity firm Apax Partners, has acquired Brazilian peer Grupo Confidence, Reuters reported. The deal is part of Travelex’s strategy to expand into emerging markets. Terms of the deal were not released.
British specialist insurer Pension Corp. is close to sealing a 500 million pound ($820 million) infusion of capital, most coming from a fund spun off from Swiss luxury goods group Richemont, Reuters reported. The company said Friday it was in exclusive negotiations with Luxemburg-listed Reinet Fund for a 400 million pound investment, Reuters wrote, adding that the remaining100 million pounds would come from existing and new investors. Pension Corp. counts Swiss Re and private equity group JC Flowers among its backers.
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Six months after snagging Time Out’s London business, Oakley Capital has acquired a majority stake in the publisher’s New York business, paying 14.2 million pounds ($23 million), Reuters reported. In November, Oakley Capital had bought a 50% stake in Time Out London, the official travel guide for the 2012 Olympics, for 11.3 million pounds, Reuters wrote. It now owns 65.7% of the New York business, and plans to expand the company’s reach to 50 cities.
Buyout shop Thomas H. Lee Partners has acquired Sword Insurance, a provider of software and services to the property and casualty insurance industry, from French-owned Sword Group. The deal is expected to close next month. Terms were not disclosed.
Charterhouse Capital Partners is taking a majority stake in the global environmental consultancy Environmental Resources Management. Under the terms of the transaction, which values ERM at $950 million, Charterhouse, s a private equity investment firm focusing on Western European businesses, will acquire roughly a 65% stake. PRESS RELEASE: Environmental Resources Management (ERM), the world’s leading environmental […]