NEW YORK (Reuters) – Morgan Stanley posted a wider-than-expected quarterly loss on Wednesday and slashed its dividend as real estate investment losses and a debt-related charge wiped out strong trading and banking fees. The loss, the third in six quarters for the investment bank and brokerage, disappointed investors who were hopeful after rival Goldman Sachs […]
(Reuters) – Microsoft is not interested in buying any hardware companies, Chief Executive Steve Ballmer said in Cairo on Wednesday. On Monday, software rival Oracle Corp unveiled a plan to buy Sun Microsystems Inc for more than $7 billion. “I have no idea why a software company would buy a hardware company. We don’t want […]
NEW YORK (Reuters) – New York State Comptroller Thomas DiNapoli on Wednesday said he has banned placement agents, paid intermediaries and registered lobbyists from playing any role in winning business for the $122 billion state pension fund. “The Hevesi administration violated the public trust,” DiNapoli said in a statement, referring to former state comptroller Alan […]
Energy Investors Funds has acquired Watertown Renewable Power LLC, a 30-megawatt biomass power project currently under development in Watertown, Connecticut. The seller was Tamarack Energy Inc. No financial terms were disclosed.
Ellora Energy Inc., a Boulder, Colo.-based oil and gas company, has re-filed for a $100 million IPO. Last week, the company withdrew registration for an IPO, without giving a reason. It plans to trade on the Nasdaq, with Merrill Lynch and Raymond James serving as co-lead underwriters. Yorktown Energy Partners holds a majority ownership stake. […]
Juha Lehtola has joined Finnish Industry Investment Ltd. as an investment manager. He previously was with Nordic Venture Partners.
Edgewater Capital Partners has acquired Gabriel Performance Products Inc., an Ashtabula, Ohio-based chemicals supplier, according to LBO Wire. Centerfield Capital Partners provided mezzanine and subordinated note financing. www.gabepro.com
Clearview Capital has acquired Troy Industries Inc., a Trenton, N.J.-based maker of decorative films used in plastic lamination applications. No financial terms were disclosed.
TOKYO (Reuters) – Deryck Maughan, a partner of Kohlberg Kravis Roberts & Co, said the private equity firm would not buy toxic assets as part of a U.S. government program to help banks clean up bad debts. “We will not be participating in the program. It’s not what we do,” Maughan told Reuters in an […]
NEW YORK (Reuters) – New York City’s pension funds are probing whether private equity fund Quadrangle “intentionally misled” it about placement agents used to win pension fund business, a spokesman for the city’s comptroller said Tuesday. New York City’s pensions invested $85 million with Quadrangle in 2005 and $40 million in 2006, Jeff Simmons, the […]