CHICAGO (Reuters) – On Main Street, insurance protects people from the effects of catastrophes. But on Wall Street, specialized insurance known as a credit default swaps are turning a bad situation into a catastrophe. When historians write about the current crisis, much of the blame will go to the slump in the housing and mortgage […]
Bloomberg is reporting that Bain Capital and Hellman & Friedman are working together on a deal for Lehman Brothers' investment management business, with an announcement to come as early as today. Each firm last week submitted separate bids of around $4 billion for the unit, which manages over $270 billion in assets. This includes Lehman's $35 billion private equity program, which includes buyout funds, venture capital funds, funds-of-funds and fund placement.
Orchard Brands, a portfolio company of Golden Gate Capital, has completed its $35 million purchase of the misses apparel catalogs of Charming Shoppes Inc. (Nasdaq: CHRS). www.orchardbrands.com
Sun Capital Partners has acquired Gordmans Inc., an Omaha, Neb.-based apparel and home fashions retailer in the Midwestern U.S. No financial terms were disclosed. Gordmans was advised on the deal by Harris Williams & Co. PRESS RELEASE Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and […]
John Koskinen has been appointed to serve as non-executive chairman of Freddie Mac. Koskinen is a current director of American Capital, and the former CEO of The Palmieri Co.
NEW YORK (Reuters) – U.S. bank Citigroup Inc (C.N) said on Thursday that it hired Lehman Brothers’ (LEH.N) Mark Shafir to become global head of M&A, filling a spot open since June when Frank Yeary retired. Shafir was chairman and co-head of M&A at Lehman alongside Paul Parker, who now steps into the top M&A […]
AIG Investments has invested new capital into Blue Intercontinental Micro Finance Bank, a JV between Nigeria's Intercontinental Bank and Blue Financial Services, which provides micro-financing services and products into Nigeria's retail market. AIG had previously invested in both Intercontinental Bank and Blue Financial Services. No financial terms were disclosed.
Tricap Partners, a private equity fund managed by Brookfield Asset Management, has acquired MAAX Corp., a Montreal-based maker of bathroom fixtures. No financial terms were disclosed. MAAX had been acquired four years ago for C$640 million by J.W. Childs & Co., Borealis Private Equity and Ontario Municipal Employees Retirement System. It subsequently completed a recap […]
Versa Capital Management has agreed to acquire substantially all the assets of retailer Boscov’s Department Store LLC, which filed for Chapter 11 bankruptcy protection on August 4. PRESS RELEASE Boscov’s Department Store LLC (Boscov’s), announced today that it has signed a Letter of Intent (LOI) for the sale of substantially all of its assets […]
Kohlberg & Co. has agreed to acquire Centerplate Inc. (AMEX/TSX: CVP), for approximately $83 million (33% premium to yesterday’s closing price). Centerplate is a Stamford, Conn.-based provider of food services, including concessions, catering and merchandise services in more than 130 sports facilities, convention centers and other entertainment venues throughout the United States and Canada.