MUMBAI (Reuters) – The new board of embattled Indian outsourcer Satyam Computer Services is working to secure emergency funding for the firm and will consider appointing a banker for the rescue effort, a board member said. The banker would help the board consider all options in a bid to salvage the company, said Deepak Parekh, […]
Newstone Capital Partners is targeting $900 million for its second fund, according to LBO Wire. The mezzanine fund has offices in Dallas and Los Angeles, and is run by former TCW/Crescent Mezzanine pros Tim Costello and John Rocchio. www.newstonecapital.com
(Reuters) – American International Group Inc (AIG.N) Chief Investment Officer Win Neuger will step down from his post and focus on a narrower role at the company, the Wall Street Journal said, citing people familiar with the matter. An announcement is expected in coming days that Neuger, who has been the insurer’s chief investment officer […]
CHICAGO (Reuters) – A group of private U.S. auto suppliers has filed for liquidation under the bankruptcy code as the industry continues to suffer from a slump in sales, according to court documents. Eaton County, Michigan-based Specialty Motors Holding Corp filed for liquidation at the U.S. Bankruptcy Court for the District of Delaware. The other […]
Angelo Gordon & Co. is targeting $3 billion for its seventh distressed debt fund, according to LBO Wire. It closed its sixth fund just last year with $2 billion. www.angelogordon.com
Pfingsten Partners has acquired the assets of Aviation, Power & Marine Inc., a Boynton Beach, Fla.-based distributor of aeroderivative gas turbine engine parts and related services. No financial terms were disclosed. Farlie Turner & Co. advised the seller.
TA Associates has promoted both Hythem El-Nazer and James Hart from vice president to senior vice president.
HONG KONG (Reuters) – CDC Group, the British investment agency focusing on private businesses in developing countries, said on Wednesday it has agreed to commit a total of $40 million to two private equity funds in Southeast and Central Asia. The major investor in many well-known private equity funds, including U.K.’s Actis and China’s CDH, […]
LONDON (Reuters) – Four Seasons Health Care, the debt-laden British care home operator, has agreed a six-month extension in talks with lenders, it said late on Tuesday. The firm has around 1.5 billion pounds ($2.11 billion) of debt, but earnings before interest, tax, depreciation and amortisation (EBITDA) of just 100 million pounds a year. It […]
Stallion Oilfield Services Inc., a Houston, Texas-based provider of well-site support, construction and logistics services to oil exploration and production companies, has withdrawn registration for a $400 million IPO. It had planned to trade on the Nasdaq. This is the second time Stallion has canceled a proposed IPO, previously having done so in 2006. Carlyle/Riverstone […]