NEW YORK (Reuters) – For all the talk of a renascent market for initial public offerings following five successful deals, there are fewer companies in the pipeline. April has seen a flurry of IPOs — by Chinese video game maker Changyou.com Ltd (CYOU.O), language software maker Rosetta Stone Inc (RST.N) and Bridgepoint Education Inc (BPI.N), […]
MIAMI (Reuters) – Private equity executives will be paid far less, fund sizes will shrink and some firms will go out of business, the chairman and chief investment officer of British private equity house Terra Firma said on Wednesday. “Life on the whole will get a lot tougher and a lot less financially rewarding for […]
(Reuters) – Magazine wholesaler and publisher Source Interlink Companies Inc (SORC.O) filed for Chapter 11 bankruptcy protection late on Monday, under a pre-packaged plan it said would wipe out nearly $1 billion of debt and allow it to re-emerge as a privately held company. In a statement on Tuesday, Bonita Springs, Fla-based Source Interlink also […]
Lincoln Educational Services Corp. (Nasdaq: LINC) has completed its $2.8 million acquisition of Clemens College, a provider of associate programs in hospitality management. Lincoln Educational is majority-owned by Stonington Capital.
Kiran Rao has joined Grove Street Advisors, a PE advisory with more than $6 billion under management, as a principal. He previously was with Boston Consulting Group.
Sverica International announced that its third private equity fund closed last November with $265 million in capital commitments. The bi-coastal firm focuses on buyouts in the lower middle-markets.
Jean-Manuel Richier has joined The Blackstone Group as a Paris-based senior managing director in the firm's European advisory group. He previously was Citigroup's deputy head of I-banking for France.
TOKYO (Reuters) – A merger between Shinsei Bank (8303.T) and Aozora Bank (8304.T) is facing difficulties as they were not able to get consent from their major shareholders, Jiji news agency reported on Wednesday. The two money-losing lenders were considering merging next April to create Japan’s sixth-largest bank with an announcement slated as early as […]
HONG KONG (Reuters) – Citigroup’s (C.N) former Asia CEO Robert Morse on Wednesday said he has launched a Hong Kong-based financial services firm with $1 billion under management, together with two former colleagues. Morse and former HSBC (0005.HK) Asia investment banking head Huan Guocang are co-chairmen of the firm, Primus Financial Holdings. They planned to […]
BEVERLY HILLS, Calif (Reuters) – CalPERS, the largest U.S. public pension fund, may consider adding a new “opportunistic” investment class to its menu so it can include securities that do not neatly fit into existing categories. CalPERS, which manages $175 billion to pay retirement benefits to California’s state workers, will explore adding an “opportunistic bucket,” […]