NEW YORK (Reuters) - The near collapse of the global financial system, which wiped out trillions in corporate value and personal savings, may be giving way to a new "golden age" for private equity investment, Silver Lake Co-CEO Glenn Hutchins said in an interview on Tuesday. Private equity firms suffered badly when debt markets seized up as a result of the crisis and banks did not want to lend increasingly scarce capital. Only just recently have credit markets started to unfreeze. "The financial markets may be on the cusp of a new 'golden age' for private equity," Hutchins, who is also a co-founder of the firm, told Reuters. Hutchins, the co-founder of the $13 billion private investment firm, cautioned that while there has been a significant stock market rally, the economy is showing stable, though not robust, growth.
NEW YORK (Reuters) – Blackstone Group LP (BX.N) won dismissal on Tuesday of an investor class-action lawsuit accusing the private equity of firm of failing to disclose prior to its 2007 initial public offering that some of its holdings were losing value. In a 15-page ruling, U.S. District Judge Harold Baer said the plaintiffs failed […]
Lee Stern has joined KKR as director of the firm's asset management unit, where he will be responsible for originating and structuring mezzanine investments. He previously was a managing director with GSO Capital Partners.
Jeff Baxter has joined Variation Biotechnologies Inc. as chief executive officer. He previously was a managing partner with VC firm The Column Group.
FRANKFURT (Reuters) – Financial investor BC Partners plans to float part of German chemical distributor Brenntag in the first half of 2010, several sources familiar with the situation told Reuters on Tuesday. The planned placement of up to 1.5 billion euros ($2.2 billion) in old and new shares would be the largest initial public offering […]
(Reuters) – Private equity firm Onex Corp will sell 11 million subordinate voting shares in contract electronics manufacturer Celestica Inc (CLS.TO) for C$113.3 million, the company said. Onex will sell the Celestica shares for C$10.30 a share to a group of underwriters led by CIBC World Markets in a secondary bought deal offering, Onex and […]
Wananchi Group Holdings, a provider of pay television and broadband services in Kenya and Tanzania, has raised $25 million from Emerging Capital Partners. PRESS RELEASE Emerging Capital Partners (ECP), an international private equity firm focused on investing across the African continent, announced today it has committed $25 million to Wananchi Group Holdings, a leading East […]
Galen Partners has acquired and merged two providers of medical imaging equipment: Barrington Medical Imaging LLC and Echoserve Inc. The Golden, Colo.-based parent company is called Medical Imaging Holdings Inc. No financial terms were disclosed.
(Reuters) – Business development company Fifth Street Finance Corp (FSC.N) said it began a public offering of 4 million common shares and expects to use most of the proceeds to make investments in small and mid-sized companies. Shares of Fifth Street fell 4.3 percent to $10.69 in trading after the bell. They closed at $11.17 […]
HONG KONG(Reuters) – CDH Investments, backed by Singapore’s sovereign fund and the World Bank, is raising a $1.4 billion private equity fund, its fourth fund targetting growth-stage companies in China, a source said on Tuesday. CDH, established in 2002 as a spin-off from China International Capital Corp, the investment banking joint venture one-third owned by […]