Global private equity firm Blackstone is planning to raise US$2bn for an infrastructure fund. With leveraged buyouts off the menu for the time-being, New York-based Blackstone wants to target infrastructure assets. According to reports, the fund is currently being marketed to investors after chairman Stephen Schwarzman revealed plans for the move into infrastructure last November. […]
HONG KONG (Reuters) – Royal Bank of Scotland (RBS.L) has hired Morgan Stanley (MS.N) to explore the sale of its Asian banking units, sources with direct knowledge of the matter told Reuters on Friday. The move comes after the UK government took a 70 percent stake in the bank, forcing RBS into seeking sales of […]
MELBOURNE/HONG KONG (Reuters) – Private equity firm CVC Capital Partners has hired UBS to sell the specialist care unit of Australian medical imaging company I-Med, banking sources said, in a deal that could fetch about A$200 million ($128 million). CVC is selling the oncology and cardiology diagnostic business within I-Med, which will help the firm […]
Lewis Eisenberg has joined Kohlberg Kravis Roberts & Co. as a senior advisor. He is the co-founder and co-chairman of investment management company Granite Capital International.
MUNICH (Reuters) – U.S. investor JC Flowers has called on Berlin to return to the negotiating table after talks failed to resolve how the German government can take control of Hypo Real Estate, a bank that Flowers partly owns. JC Flowers has proven to be one of the biggest obstacles to government plans to nationalize […]
SINGAPORE (Reuters) – China, which triggered the biggest commodity price spike in a generation, is now making deals that could prevent another surge in the coming decade by helping finance new production during the low ebb of the cycle. While the deepening global recession has focused traders on trying to pick a bottom to the […]
NEW YORK (Reuters) – Camera maker Polaroid Corp has received bankruptcy court approval to hold an auction of its assets in March, according to court documents. U.S. Bankruptcy Judge Gregory Kishel approved the company’s plan to sell itself after a hearing on Wednesday, according to court documents filed on Wednesday night. PHC Acquisitions, an affiliate […]
TORONTO (Reuters) – The Canadian government has hit Chrysler Canada with a tax-related C$500 million ($400 million) lien that could complicate negotiations for the automaker as it seeks government aid, the Globe and Mail newspaper said on Thursday. The paper, citing federal court documents, said the Canada Revenue Agency notified Chrysler Canada in 2002 that […]
(Reuters) – Resistance from investors burnt by a turbulent 2008 will make asset managers more willing to cut fees this year, a study by consultant Mercer said on Thursday. Mercer said overall fees in most asset classes were stable in 2008 but it said more willingness to negotiate fees downwards, especially in alternative asset classes, […]
MUMBAI (Reuters) – Private equity investment in India in 2009 is expected to tumble by more than a third to $5 billion to $7 billion, similar to the fall in 2008, as investor aversion rises and asset owners stick to high price expectations, industry players said. PE firms will also be busy tending to Indian […]