American Capital Ltd. has opened an office in Hong Kong, which is its first satellite in Asia. The office will be led by David Steinglass, who has been with American Capital for the past eleven years.
Warburg Pincus has sold ChartOne Inc. to Healthport, a portfolio company of Abry Partners. No financial terms were disclosed, although an earlier Dow Jones report said the deal was expected to include $150 million in debt financing being arranged by GE Capital and NewStar Financial. ChartOne is a Burlington, Mass.-based provider of medical record workflow solutions.
GMAC, which is majority-owned by Cerberus Capital Management, has agreed to sell its home services unit to a division of Brookfield Asset Management. No terms were disclosed for the deal, which is expected to close next quarter.
American Fibers and Yarns Co. has filed for Chapter 11 bankruptcy protection, in order to liquidate its assets. The company makes polypropylene fibers and yarns for home furnishings, automotive and industrial applications. Monitor Clipper Partners sponsored a management buyout of the company in late 1999 from a division of AP Amoco. www.afyarns.com
Active Interest Media, a media rollup platform formed by Wind Point Partners in 2003, has acquired Yellowstone Journal Corp., a media company focused on happenings at Yellowstone National Park. No financial terms were disclosed.
Axa Private Equity is mulling a sale of its cleaning products business The Spotless Group. According to reports, the private equity arm of the insurance giant is hoping to attach a €700m (US$1bn) price tag to the company it has backed since 2005. Lazard has been hired to run the sales process with a secondary […]
Robert Savage has joined Greenpark Capital as a London-based investment director. He has spent the past 13 years with Doughty Hanson.
Rosetta Stone Inc., an Arlington, Va.-based provider of language learning software, has filed for a $115 million IPO. It plans to trade on the NYSE under ticker symbol RST, with Morgan Stanley and William Blair & Co. serving as co-lead underwriters. Rosetta Stone was acquired in a 2006 management buyout by ABS Capital Partners (46.1% […]
WASHINGTON (Reuters) – The FBI is investigating Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz) and insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) and their senior executives for potential mortgage fraud, CNN reported […]
NEW YORK (Reuters) – The Federal Reserve relaxed bank ownership rules, but it only goes so far in solving existing problems — banks will not get all the capital they need, and private equity firms will not get the control positions they seek. Senior private equity executives said while the move was a step in […]