PE HUB Second Opinion

In Second Opinion, Spotify rival Deezer is reportedly seeking funding at a $1 billion valuation, a Brookfield-led group agrees to acquire Asciano in a deal valued at $8.84 billion and the IRS says more than 300,000 households might have been hit by cyberattacks.

Designer Donna Karan of Donna Karan New York walks the runway following her show during New York Fashion Week in New York February 10, 2014. REUTERS/Carlo Allegri (UNITED STATES - Tags: FASHION ENTERTAINMENT)

PE HUB First Read

First Read begins your mid-week morning with news that U.S. will be opening an embassy in Havana, Canada’s Brookfield makes a $6.8 billion bid for Australia’s Asciano and Donna Karan steps down as head of her brand.


Brookield to buy GrafTech

Brookfield Asset Management Inc. agreed Monday to buy GrafTech International Ltd for $5.05 a share. The Wall Street Journal valued the deal at $692.8 million. Independence, Ohio-based GrafTech provides graphite material solutions for customers in sectors such as steel manufacturing, advanced energy applications and latest generation electronics. J.P. Morgan Securities LLC advised GrafTech.


Apache to sell Australian unit to Macquarie Capital, Brookfield Asset Management for $2.1 bln

Apache Corp. said Thursday it has agreed to sell its Australian subsidiary Apache Energy Ltd. to consortium of private equity funds managed by Macquarie Capital Group Ltd. and Brookfield Asset Management Inc. The purchase price was $2.1 billion. Apache Energy, and its subsidiaries, produced about 49,000 barrels of oil equivalent per day in March. With the sale, Apache said it is fully exiting its exploration and production business in Australia but retains a 49 percent stake in Yara Pilbara Holdings Pty Ltd., a fertilizer producer.


Brookfield to launch facilities management business in U.S. and Europe

Brookfield Asset Management Inc has agreed to buy the other 50 percent of its Canadian and Australian facilities management businesses from Johnson Controls Inc. The price of the acquisition is about $200 million. As a result of Brookfield ending its joint venture pacts with Johnson Controls, Brookfield will launch a facilities management business in the U.S. and Europe.

Brookfield Completes Property Spin-Off

Brookfield Asset Management has completed the spin-off of Brookfield Property Partners, a newly-created company which owns all of Brookfield’s commercial property assets. Brookfield Asset Management is a global alternative asset manager with over $175 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity.

Kotak Mahindra Group Raising $300M PE Fund

India’s Kotak Mahindra Group aims to raise $300 million in local and international private equity funds for investments across infrastructure programs, Reuters reported. Japan’s Sumitomo Mitsui Banking Corp and Canada’s Brookfield Asset Management have signed on as investors in the fund, contributing up to 22.5% of the capital. India has said it needs to double infrastructure spending to $1 trillion over the next five years, Reuters said.

Brookfield Asset Management Names A Client Relations Manager For Private Funds Group.

Brookfield Asset Management Inc. named Chris Harris client relations manager for the private funds group. He will assume responsibility for Toronto, Ontario-based company’s relationships with investors in the western U.S. Harris will be based in San Francisco. He previously served as director of Macquarie Capital’s private placement team.

Brookfield Asset Management Selling Concert Industries

TORONTO (Reuters) – PH Glatfelter Co (GLT.N), a manufacturer of specialty papers and engineered paper products, said on Tuesday it is buying Concert Industries Corp from Brookfield Asset Management Inc (BAMa.TO) (BAM.N) for C$246.5 million ($237 million).   Glatfelter expects the acquisition to modestly add to 2010 earnings and add $0.20 to $0.25 per share […]

Brookfield Buying Fraser Papers Unit

(Reuters) – Canada’s Fraser Papers Inc (FRPPF.PK) on Tuesday sought court approval to sell assets of its specialty papers business to Brookfield Asset Management Inc (BAM.N) (BAMa.TO) for $185 million, court papers showed. Brookfield will be the stalking horse bidder and set the floor at a bankruptcy auction, which will be open to higher and […]

Brookfield Launches $400m Columbian Infrastructure Fund

TORONTO (Reuters) – Canada’s Brookfield Asset Management said on Wednesday that it was setting up a $400 million fund to invest in Colombian infrastructure, joining a wave of foreign investors entering the Andean nation. Toronto-based Brookfield (BAMa.TO), with a global portfolio worth more than $80 billion, said the first closing of the fund raised $320 […]

Brookfield Bulks Up PE Relationship Team

Brookfield Asset Management has added five senior vice presidents to its group that manages private equity institutional relationships. The new hires are: Peter Thomson (UK/Middle East) former managing director in the PE funds group of Bear Stearns/JPMorgan; Robert von Herrmann (German-speaking countries), former managing director in the PE funds group of Bear Stearns/JPMorgan; Paul Tam (Asia), formerly a partner with Crane Capital/Bear/JPM; Alexander Apponyi (Scandanavia), formerly a partner with BerchWood Partners; and Scott White (deal execution), previously with Citi Alternative Investments.

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