Peter Christodoulo has joined Francisco Partners as an associate working out of the firm’s London office. He previously was a Boston-based associate with Thomas H. Lee Partners and, before that, was an analyst in Credit Suisse’s tech I-banking group. www.franciscopartners.com
Elliot Linsley has joined Waltham, Mass.-based private equity firm Webster Capital as an investment manager. He previously was an investment banking analyst with RBC Capital Markets. www.webstercapital.com
NEWTON, Mass., (Reuters) – General Electric Co (GE.N) said on Thursday it has no intention of raising additional capital from sovereign-wealth funds. The company is in talks with Asian investors about joint ventures similar to one formed earlier this year with Abu Dhabi investment agency Mubadala Development Co, said GE spokesman Russell Wilkerson. “With the […]
NEW YORK (Reuters) – The money-losing finance company GMAC said on Thursday it has filed to become a bank, and its bonds surged as it joined the growing list of lenders making such a move in a bid to secure U.S. Treasury funds. Detroit-based GMAC said its application for funds from the government’s $700 billion Troubled […]
TORONTO (Reuters) – Chrysler Canada Inc has asked the Canadian and Ontario governments for C$1 billion in financial assistance to help it through the global economic crisis, making it the first Canadian automaker to specify how much it is seeking, the Globe and Mail reported on Thursday. However, the newspaper, citing sources, said the company […]
NEW YORK (Reuters) – Steve & Barry’s stores will be liquidated by early 2009 after the new owners concluded they would be unable to obtain financing to keep the casual clothing retailer in business amid disappointing sales. Steve & Barry’s had filed for bankruptcy protection in July, and in the following month it sold its […]
Rakesh Sony has joined India-based Motilal Oswal Financial Services Ltd. as director of private equity. He previously was co-founder and managing director of Microsec Group.
Glass Lewis & Co. LLC, a San Francisco-based proxy firm owned by The Ontario Teachers' Pension Plan, has agreed to acquire political and economic advisory firm Washington Analysis Corp. from Xinhua Finance. No financial terms were disclosed. OTPP originally bought Glass Lewis from Xinhua Finance last year for $46 million.
Buckeye GP Holdings LP (NYSE: BGH), a pipeline operator, has turned down a $17 per unit tender offer from ArcLight Capital Partners and Kelso & Co. The two firms -- along with Lehman Brothers – bought a 63% stake in Buckeye from Carlyle-Riverstone last year. In a regulatory filing, Buckeye said that the $17 per unit price “is inadequate and that the tender offer is otherwise not in the best interests of the holders of units."
KarpReilly Capital Partners and HIG Capital been rebuffed in their offer to buy women’s apparel retailer Charlotte Russe Holding Inc. (Nasdaq: CHIC), for between $9 and $9.50 per share. The deal could have been worth upwards of $198.6 million. KarpReilly currently holds a 5.4% stake in Charlotte Russe.