When a man that’s made his living on oil and gas tells you we need to use less oil and gas, I’ll drop everything to listen. That’s essentially the message I got from Gary R. Peterson of oil and gas PE firm EnCap Investments. “This isn’t the party line you’ll get from most oil guys,” […]
In fact, he was "almost too relaxed,” one of my colleagues remarked, referencing Schwarzman’s appearance today at the PEA conference in New York. The founder of Blackstone Group was interviewed by Dow Jones’ Shasha Dai. And Dai didn’t toss out softball after softball. She opened by asking him about his personal feelings on Lehman’s collapse (Schwarzman got his start at Lehman; Dick Fuld was in his partner class). His answer, by the way, was a believable “It’s very sad.” She closed by asking about Blackstone's stock price, which has traded at close to a 50% discount since its IPO last year. He said Blackstone’s stock price was initially a scapegoat for the credit crisis, but that by this point the whole financial sector has been hit. The most interesting answer I heard was regarding the way Blackstone is going to deploy all that money.
Linden LLC has acquired Drayer Physical Therapy Institute, a Hummelstown, Penn.-based operator of outpatient physical therapy clinics throughout the Eastern United States. No financial terms were disclosed for the deal, which was done in partnership with company management.
NEW YORK (Reuters) – A major Washington Mutual Inc investor has waived an agreement that restricted the largest U.S. savings and loan from raising capital, a move that reflects the financial difficulties of the Seattle-based thrift. TPG Inc, a private equity firm led by David Bonderman, had invested $2 billion earlier this year as part […]
(Reuters) – Washington Mutual’s board would seriously consider a merger offer even at a discount to what the Seattle-based thrift believes it is worth, as it faces mounting pressure to pursue options amid credit-rating downgrades, an analyst at Merrill Lynch said. “Recent markets disruption and lack confidence that Washington Mutual can withstand the credit cycle […]
Ferrovial’s British airports operator BAA said on Wednesday it is putting its Gatwick airport in London up for sale. ‘We have decided to begin the process of selling Gatwick Airport immediately,’ Colin Matthews, chief executive of Spanish owned-BAA, told reporters in Toronto. Sector sources said Gatwick, one of the Europe’s busiest airports with 35 million […]
Baird Capital Partners Europe, the UK mid-market buyout arm of Baird, has backed portfolio company Choices Holdings Limited’s acquisition of Glasgow-based care group Domiciliary Care. No price was given for the bolt-on acquisition. A 2006 investment, Baird Capital Partners Europe, then known as Granville Baird Capital Partners, put £10m into the management buyout of Choices […]
Creo Capital Partners has acquired the assets of Sataria Distribution and Packaging, an Indianapolis-based provider of third-party-logistics. No financial terms were disclosed.
Bug Music Inc., a Los Angeles-based music publisher sponsored by Spectrum Equity Investors, has secured a $200 million credit facility led by JPMorgan. It can be increased to $250 million, and is priced at Libor plus 2.5 percent.   PRESS RELEASE Bug Music, Inc., one of the world’s largest independent music publishers, has secured a […]
HONG KONG (Reuters) – Hanwha Group has hired investment bank JPMorgan (JPM.N) to sell a 9.9 percent stake in its Korea Life insurance unit, sources said on Wednesday, in a deal that could value the unit at more than $7.5 billion. Affinity Equity, Carlyle Group and MBK Partners are among several private equity firms interested […]

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