MADRID (Reuters) – Pear Acquisition, on behalf of Citi Infrastructure Partners (CIP), said on Tuesday it had gained control of Spanish Itinere (ITIE.MC) in a cash deal worth 2.87 billion euros ($3.98 billion). CIP, a private equity fund owned by Citigroup (C.N), received acceptances worth 47 percent of Itinere and expects to receive an additional […]
HONG KONG (Reuters) - "Goldfinger" is back in the market and has a new focus -- Asia. Mount Kellett Capital, a private equity firm run by former Goldman Sachs (GS.N) partner Mark McGoldrick, has completed raising about $2.5 billion for its first fund with a focus on Asia, especially China, two people with knowledge of the details told Reuters. McGoldrick earned his nickname while at Goldman Sachs where, as co-head of its lucrative global special situations group, media reported he was paid $40-$70 million in 2006. The Asia-focused firm, which McGoldrick and former Goldman colleagues launched early last year, initially set a target to raise about $5 billion, but pared this back as markets fell sharply late last year, said the sources, who declined to be identified as they were not authorized to speak to the media.
MHT Partners, a Dallas-based investment bank focused on middle-market growth companies and PE sponsors, has formed a private equity secondary advisory practice. It will be headed up by James Lee, who previously was with Cogent Partners.
CHICAGO (Reuters) - Republic Airways Holding Inc. said on Tuesday it would buy Midwest Airlines from private equity group TPG Capital for $6 million in cash and a $25 million note. In addition to getting all of Midwest's equity, Republic will receive TPG's $31 million secured note. After the completion of the deal, TPG may convert its $25 million five-year note to RJET stock at $10 per share. TPG also will have the right to nominate a member to Republic's board of directors. The deal comes a day after Republic said it would buy bankrupt U.S. regional carrier Frontier Airlines Holdings Inc (FRNTQ.PK) for $108.75 million. "This acquisition will enhance the strategic positioning of Republic Airways," Republic Chief Executive Bryan Bedford said of the Midwest purchase.
NEW DELHI (Reuters) – Indian mobile firm Aircel, 74 percent owned by Malaysia’s Maxis, is in talks to sell its 12,000 mobile towers valued at about $1.5 billion to raise funds, the Economic Times reported on Tuesday. Tower operator Tata-Quippo, a joint venture of India’s Tata Group, private equity funds and Indus Towers, a joint […]
(Reuters) – Sumitomo Trust & Banking Co (8403.T), T&D Holdings Inc (8795.T) and Bank of New York Mellon Corp (BK.N) are the remaining three contenders to buy Citigroup’s (C.N) asset management unit, the Nikkei business daily reported without citing any sources. Citigroup is looking to sell Nikko Asset Management, Japan’s third-largest fund manager with about […]
HOUSTON (Reuters) – Huntsman Corp (HUN.N) reached a $1.73 billion settlement with Credit Suisse (CSGN.VX) and Deutsche Bank (DBKGn.DE) on Tuesday, ending a long and bitter battle over the 2008 collapse of a $6.5 billion buyout of the chemical company. Still, Huntsman shares fell as much as 12.6 percent as investors reacted with disappointment to […]
Mark Schmid has been named vice president and chief investment officer of The University of Chicago, which has an endowment valued at approximately $4.9 billion. He previously served in a similar position with Boeing Corp. www.uchicago.edu
Catalyst Investors and Northwood Ventures have sold the remaining assets of Oneida Communications Group to Clearwire Corp. for an undisclosed amount. Catalyst had sold most of Oneida's spectrum holdings to Sprint Nextel last year, but still had some wireless licenses remaining.
Duran Curis has joined Drum Capital Management as a managing director, focused on the firm's special situation fund. He previously was a managing director with HRJ Capital and, before that, with LGT Capital Partners.