NEW YORK/LONDON (Reuters) – Private equity firms surveying the wreckage of America’s financial system have a crucial question — when will credit return? The worsening financial crisis has hampered large buyouts for well over a year. For the year-to-date, global buyout activity plummeted 74 percent from a year ago to a four-year low of $180 […]
LONDON (Reuters) – American International Group (AIG.N: Quote, Profile, Research, Stock Buzz), the stricken U.S. insurance group, has agreed to sell part of its minority interest in London’s City Airport to its joint-venture partner, Britain’s Sunday Telegraph reported. AIG will sell a 25 percent stake in the airport, the fastest-growing in Britain, for about 250 […]
NEW YORK (Reuters) – Texas-based private equity firm TPG’S $1.35 billion investment in Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz) was spread across three of its private equity funds, according to a letter it sent to its investors. Thursday’s drastic move by the government to close and sell the banking assets of savings […]
3i Group has agreed to invest between $183 million and $229 million for a minority stake in Krishnapatnam Port Co., a port developer in South India, LBO Wire reported.
Cerberus Capital Management has offered $2 million in Chapter 11 financing to Hard Rock Park, a Myrtle Beach tourist attraction that filed for bankruptcy.
Hamilton Robinson Capital Partners has acquired MEGTEC Systems from its parent company Sequa Corporation for an undisclosed amount. Sequa Corp. is owned by Carlyle Group. Paper and wood products supplier MEGTEC had revenues of more than $250 million in 2007. Press Release: Hamilton Robinson Capital Partners, a private equity firm based in Connecticut, announced today […]
Millennium Private Equity has made an undisclosed minority stake investment in Turin Networks, a Petaluma, Calif.-based ethernet services provider. Millennium Private Equity is based in Dubai. PRESS RELEASE: Turin Networks, Inc. today announced that Millennium Private Equity has become a strategic investor in the company. Turin is a leading global provider of innovative Carrier Ethernet, […]
Accel-KKR has acquired "a significant equity stake" in Alexander Gallo Holdings, an Atlanta-based provider of court reporting and litigation support services. No financial terms were disclosed for the deal, which helped Alexander Gallo acquire competitor The Hobart West Group.
Falcon Capital has acquired a controlling interest of an undisclosed size in Vernon, Calif.-based Not Your Daughter’s Jeans, an apparel company targeting Baby Boomer women.
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; and (3) I've slept fewer than five of the past 48 hours. Oh, and I'm officially off 'till Monday. Moving on... Private equity firms have done hundreds of lousy deals over the deals, including such notable duds as Refco and Atkins Nutritionals. But it would be hard to find a single one worse than TPG Capital leading a $7 billion capital infusion earlier this year for Washington Mutual, which has just agreed was forced to sell itself for scrap to JPMorgan. TPG and its equity co-investors are being completely wiped out, less than five months after first making the investment. This is a real "bloom coming off the rose" moment for TPG Capital, which was viewed by many as the world's savviest private equity firm. There were immediate concerns when TPG originally announced the deal, particularly due
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