(Reuters) – Billionaire investor John Paulson is buying about a 13 percent stake in American Capital (ACAS.O) as the business development company gets a much-needed capital infusion to restructure debt, sending its shares up 14 percent. Paulson is in the spotlight after U.S. securities regulators sued Goldman Sachs (GS.N) alleging fraud over certain debt instruments […]
NEW YORK (Reuters) – Private equity firm Apollo has agreed to a deal with Calpers to reduce fees for the pension fund giant, which could translate to $125 million over the next five years, they said in a news release. Apollo manages close to $2 billion for Calpers, a source familiar with the situation said, […]
CapitalSource has acquired the assets of SBA lender MainStreet Lender LLC, for $100 million. PRESS RELEASE CapitalSource Inc. (NYSE: CSE) today announced that it has acquired substantially all of the assets of SBA lender MainStreet Lender LLC (“MainStreet”) for a total purchase price of $100 million. The asset purchase includes the acquisition by CapitalSource Bank […]
Alejandro Reynoso del Valle has joined the Mexican operating unit of Evercore Partners as a senior managing director. He previously was a managing director and CIO for Latin America at Barclays Global Investors.
Summit Materials, an acquisition platform in the building materials market, has acquired Cornejo & Sons, a Wichita, Kansas-based producer of and and gravel, asphalt and ready-mix concrete. No financial terms were disclosed. Summit was formed last fall by The Blackstone Group, Silverhawk Capital Partners and former BHP Billiton CEO Charles Goodyear. It has up to $780 million in capital commitments.
Lineage Power Holdings Inc., a portfolio company of Gores Group, has completed its acquisition of PECO II Inc. (Nasdaq: PIII), a Galion, Ohio-based provider of engineering and on-site installation services related to communications power systems and power distribution equipment. The deal was valued at around $16.7 million, with PECO stockholders receiving $5.86 per share.
(Reuters) – U.S. newspaper and magazine publisher Hearst Corp is closer to buying digital marketing company iCrossing for about $375 million, the Wall Street Journal said, citing people familiar with the matter. The iCrossing deal would help Hearst to augment its Web presence and win more advertisement dollars from the Internet, the Journal said. In […]
Molycorp Inc., a Greenwood Village, Colo.-based rare earth mining company, has filed for a $350 million IPO. It plans to trade on the NYSE under ticker symbol MCP, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters. The company was created in 2008 when Chevron Mining sold its Mountain Pass operations to an acquisition […]
FRANKFURT (Reuters) – U.S. private equity firm Blackstone (BX.N) is looking into the possibility of buying Cologne department store chain Kaufhof, part of the Metro group (MEOG.DE), German business daily Handelsblatt said in an abstract of a story due to be published on Monday. The paper cited works council sources. A spokesman for Metro AG […]
MUMBAI (Reuters) – Indian conglomerate GMR Group aims to raise $100 million in private equity for its power business, a top official said on Monday, adding to $515 million it had collected this month. Bangalore-based GMR, which builds and manages power plants, airports and roads, is talking to firms for the additional funding and hopes […]