GE capital

GE limits bidders for sponsored finance business to 12

General Electric has sent out nondisclosure agreements (NDAs) to potential bidders of its sponsored finance business, which includes Antares, three sources said. The company is limiting the field to 12 interested buyers, sources said.


Ressler leads group to buy Atlanta Hawks

The Atlanta Hawks said Wednesday that Tony Ressler, an Ares Management co-founder, is leading a group to buy the NBA basketball franchise. The group includes NBA All-Star Grant Hill, Clayton Dubilier & Rice partner Rick Schnall, Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler. Financial terms weren’t announced although press reports valued the deal at $850 million. The sale does include operation of the Philips Arena but still needs approval by the NBA Board of Governors. Goldman, Sachs & Co. and Inner Circle Sports advised the sellers while Moelis & Co. advised the buyer.


Ares Management taps KKR’s McFerran as EVP, CFO and treasurer

Ares Management LP has hired Michael R. McFerran as executive vice president, chief financial officer and treasurer. The appointment becomes effective March 23, 2015. Prior to joining Ares, McFerran was a managing director at Kohlberg Kravis Roberts & Co. LP where he worked as the CFO of KKR’s credit business and was the COO and CFO of KKR Financial Holdings LLC.


Apollo in the lead to acquire Protection 1 — Reuters News

Private equity firm Apollo Global Management LLC (APO.N: Quote, Profile,Research, Stock Buzz) is in advanced talks to acquire Protection 1 in a deal that could value the U.S. home security company at close to $1.5 billion, including debt, sources told Reuters News.


Phoenix Equity Partners to acquire Bridge Leisure

Phoenix Equity Partners has agreed to buy Bridge Leisure, a UK-based holiday park operator, No financial terms were disclosed for the transaction, which will also include Bridge Leisure acquiring Silver Sands Holiday Park. Ares Management and RBS will provide debt financing for the deal.

Ares, GE provide $293 mln loan for Montagu’s buy of Open GI

The European Senior Secured Loan Programme, a joint venture between Ares Management and GE Capital, has provided a £187 million (US$293 million) loan to fund Montagu Private Equity’s buy of Open GI. Montagu announced in August it was buying Open GI, a U.K.-based supplier of software to the insurance market.


Ares Management acquires Farrow & Ball

Ares Management has bought Farrow & Ball, a UK-based maker of paint and wallpaper. The seller was European Capital Limited, an American Capital affiliate. No financial terms were disclosed.


Ares Management to acquire EIF

Ares Management has agreed to buy Energy Investors Funds, an energy infrastructure-focused asset manager. No financial terms were disclosed for the transaction, which is expected to be completed by the end of this year.

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