3i Group has sold its stakes in ten portfolio companies to Cipio Partners, a direct secondaries firm. No financial terms were disclosed for the sale, which involved companies from 3i’s European venture capital portfolio.
CHICAGO (Reuters) – The soured U.S. and global economy has killed a deal for a $2.52 billion long-term lease of Chicago’s Midway Airport, the city’s chief financial officer said on Monday. Chicago CFO Gene Saffold said the Midway Investment and Development Company, the group that successfully bid on the 99-year airport lease in September, was unable […]
WASHINGTON (Reuters) – The U.S. Treasury’s plan to purge toxic assets from banks’ balance sheets is vulnerable to fraud and abuse and needs tough rules against conflict of interest, the government’s bailout watchdog said on Tuesday. Neil Barofsky, the special inspector general for the $700 billion Troubled Asset Relief Program (TARP), said in a report […]
LONDON (Reuters) – SVG Capital SVI.L said on Tuesday it will continue its relationship with private equity group Permira and remain a UK-listed investment trust, following the outcome of a strategic review. SVG, Permira’s biggest investor, said it had set a near-term objective to improve the strength of its balance sheet, having raised 171 million […]
SEOUL (Reuters) – Three private equity houses — Affinity Equity Partners, Kohlberg Kravis Roberts and MBK Partners — have made final offers for South Korea’s Oriental Brewery (OB), an official of the beer maker said on Tuesday. Anheuser-Busch InBev (INTB.BR), the world’s largest brewer and the owner of OB, had accepted the offers on Friday, […]
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co [KKR.UL] could make its money back on a two-year-old investment in the debt of Sun Microsystems Inc (JAVA.O), which agreed to be sold to Oracle Corp (ORCL.O) on Monday. The private equity firm, whose Amsterdam-listed fund KKR Private Equity Investors (KKR.AS) (KPE), invested $700 million in […]
NEW YORK (Reuters) – New Mexico’s pension fund, which is taking a closer look at its investment partners in the wake of the New York pension fund scandal, said on Monday it has put private equity investments on hold and suspended its relationship with an advisor. “The situation in New York was enough of a […]
GE Capital has sold its stake in SAFE Security, a San Ramon, Calif.-based security alarm company, to Rustic Canyon/Fontis Partners. No pricing terms were disclosed, except that the deal included a $25 million senior credit facility from Bank of America.
Daniel Zimmermann has joined Sonnenschein Nath & Rosenthal as a Palo Alto-based partner in the firm's Venture Technology group.
Dayton Superior Corp., a Dayton, Ohio-based concrete forming and shoring rental company, has filed for Chapter 11 bankruptcy protection. Odyssey Investment Partners acquired the company in 2000, and still maintained a sizable stake following a 2006 IPO. As of March 31, Odyssey held nearly 48% of Dayton Superior's common stock. www.daytonsuperior.com