Neiman Marcus leaves IPO bankers hanging: Reuters

Investment bankers put on their best business attire to pitch luxury department store operator Neiman Marcus Group Inc for underwriter roles in an initial public offering. Yet more than a month after their beauty parade, banks are still in the dark, Reuters News reported.


Ares Management and Harvest Partners buy Valet Waste

Ares Management LP and Harvest Partners LP have acquired Tampa-based Valet Waste, a provider of amenity services for the multifamily housing sector. The seller was New Mountain Capital LLC. No financial terms were disclosed. Robert W. Baird & Co. acted as financial advisor to Valet Waste on the transaction.


Ares EIF Group to buy Van Hook Gathering System

Ares EIF Group, a subsidiary of Ares Management LP, has agreed to acquire Van Hook Gathering System from WPX Energy. The value of the transaction is $185 million. The deal is expected to be completed during the fourth quarter of this year. Based in North Dakota, Van Hook Gathering System consists of a oil, natural gas and water gathering system.


Booth joins TwinBrook Capital

Betsy Booth has joined TwinBrook Capital Partners as VP of Underwriting, executives for the firm confirmed. Most recently, Booth was a senior associate at Ares Capital Management. Booth, before that, was an Assistant VP at Madison Capital Funding. TwinBrook Capital is the middle market direct lending subsidiary of Angelo, Gordon & Co.

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.

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