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MUMBAI/HONG KONG (Reuters) – Citigroup’s (C.N) South Asia Chief Executive Sanjay Nayar has quit to run private equity firm Kohlberg Kravis Roberts & Co’s new Indian unit, leaving the struggling bank after a 23-year career. Nayar’s departure from Citi had been rumoured for some time, and comes as the U.S. banking giant faces a severe […]
HONG KONG (Reuters) – It’s been a tough stretch for the Asian portfolio of CVC Capital Partners, a large private equity firm that is taking hits from all parts of the region. The firm recently failed to dispose of Amtek Engineering, the Singapore metal stamping company it bought last year, and is trying to sell […]
LONDON (Reuters) – Creditors of French building materials manufacturer Terreal are urgently seeking dialogue with its private equity owner, LBO France, after Terreal defaulted on a 915 million euro loan, banking sources said. Terreal failed a leverage covenant test last Friday on the loan, which specified that its leverage ratio must be eight times and […]
Moody’s Investors Service has cut the corporate family rating of United Site Services Inc. to B1 from Ba3, downgraded its first lien revolving credit facility to B1 from Ba3 and downgraded its second lien term loan to Caa1 from B3. USS is a Westborough, Mass.-based renter of on-site event services like portable restrooms, temporary fencing. It has been owned by DLJ Merchant Banking Partners since 2006.
Moody’s Investors Service has cut the rating outlook for Sabre Holdings Corp. from stable to negative. Sabre is a Southlake, Texas-based online travel reservations company taken private last year by Silver Lake Partners and TPG Capital for approximately $5 billion.
3i Group has sold its 30% stake in Boxer TV-Access AB, a Stockholm-based digital pay television operator, to majority shareholder Teracom. No financial terms were disclosed. 3i made its original investment in 2005, and was advised on its divestiture by Handelsbanken Capital Markets.
Fritz Thomas has joined Oak Hill Advisors as a New York-based managing director, where he will lead the firm’s business development and client coverage activities. He previously was a managing director with Deutsche Bank, where he led global distribution for CLOs and other alternative investment products.   PRESS RELEASE Fritz Thomas has joined Oak Hill […]
LONDON (Reuters) – Britain’s second-largest pension scheme is mulling a sharp boost in alternative assets such as private equity and commodities and plans to more than double the size of its investment team covering the sector. The Universities Superannuation Scheme (USS) Chief Investment Officer Peter Moon said the scheme already has 8 percent of its […]
LONDON (Reuters) – Private equity firm Antin Infrastructure Partners said on Wednesday it hopes its fundraising efforts will raise more than 600 million euros ($757 million) by the end of the first quarter of 2009. Speaking to Reuters on the sidelines of a presentation, managing partner Mark Crosbie said the European fund had made contact with […]
Close Brothers has appointed Luke MacKenzie as director in its European Restructuring and Debt Advisory Group. He will specialise in restructuring mandates in the real estate sector.   MacKenzie joins Close Brothers from CB Richard Ellis Real Estate Finance where he has been since 2004. At CBRE he advised buyout groups participating in asset backed […]
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