SINGAPORE (Reuters) – Indian financial services firm JM Financial (JMSH.BO) is looking to launch a private equity infrastructure fund that aims to raise up to $400 million to tap into growing investor demand for the sector, an executive said on Thursday. “We are very keen to start an infrastructure-related private equity fund. It could be […]
HOUSTON (Reuters) – The receiver charged with marshaling assets of accused swindler Allen Stanford said in court papers on Thursday he needs the help of a private equity adviser to manage the estate’s web of investments which total about $650 million. Stanford receiver Ralph Janvey would like to hire Park Hill Group LLC, a unit […]
NEW YORK (Reuters) – Continental Airlines Inc (CAL.N) said on Thursday Chairman and Chief Executive Larry Kellner is leaving after 14 years at the airline and named Chief Operating Officer Jeff Smisek as its new head. Kellner, 50, is leaving at year-end to head Emerald Creek Group, a new private investment firm based in Houston. […]
LONDON (Reuters) – Lenders to directories firm Truvo are looking to appoint an adviser, two sources close to the situation said on Thursday, after the company appointed a financial adviser earlier this week. Truvo, a poster child for the debt-fuelled private equity boom, was formerly known as VNU World Directories and was the first European […]
NEW YORK (Reuters) – Fashion clothing maker Kellwood Co [KWD.UL], owned by private equity firm Sun Capital, said on Thursday it failed to renegotiate and extend a crucial $140 million bond issue before it matured. Kellwood, whose brands include Phat Farm and Sag Harbor, has been trying to forestall a looming debt deadline with an […]
Lazard Ltd. (NYSE: LAZ) has acquired The Edgewater Funds, a Chicago-based private equity firm focused on the middle markets. No financial terms were disclosed. Edgewater Funds was in the midst of raising $750 million for a new growth capital fund, and has over $1 billion in capital under management.
WASHINGTON/NEW YORK (Reuters) – CIT Group Inc, a lender to hundreds of thousands of small and mid-sized U.S. businesses, said bailout talks with the government had ended, a development that could ultimately drive the company into bankruptcy. Wednesday’s announcement followed last-ditch talks in which Treasury officials had expressed concern about a worsening liquidity crunch at […]
Quinton Jay has been named a managing director of Bacchus Capital Management, a private equity and mezzanine firm focused on the wine industry. He previously was vice president and general manager of Artesa Winery and Vineyards.
Water Street Healthcare Partners has acquired the Pharmaceutical Development unit of AAIPharma Inc. The company will be called AAIPharma Services Corp., and will retain its Wilmington, N.C. headquarters. The deal is valued at $75 million, including expansion capital commitments. No purchase price was disclosed.
GTCR has formed Palladian Financial Holdings, a Wilmington, Del.-based acquisition platform focused on the credit, payments and loyalty/rewards market. The firm has committed up to $300 million in equity. Palladian will be run by Michael Rhodes, former vice chairman at MBNA.