Leading Texas power company Energy Future Holdings is expected to file for bankruptcy as early as Monday evening, sources close to the situation said on Friday, as it struggles to pay its hefty debt load of more than $40 billion because of cheap electricity prices.
Energy Capital Partners topped off Energy Capital Partners III at $1.5 billion above its $3.5 billion target as the latest in a series of big energy funds, bringing the New Jersey firm’s total fundraising tally to $13 billion in eight years.
Baird Capital has closed its second European buyout fund at just under $100 million including an investment from J.P. Morgan Chase & Co, as the private equity arm of Robert W. Baird & Co hopes to capitalize on an expected economic up-tick in the region.
Panda Power Funds, the Dallas-based private equity firm that invests in energy projects, has raised $535.5 million for Panda Power Fund II LP as it looks to roughly double the size of its debut fund, according to Form D filings and sources familiar with the firm.
Trivest Partners LP has closed the acquisition of a unit of Niagara Conservation Corp as an add-on for its AM Conservation Group platform, in a move aimed at building a market leader in the estimated $100 million niche business of providing products to utility companies that save water and electricity.
The Lombard Investments Asia III Fund turned in an IRR of 22.7 percent and ranks near the top of our list for the vintage year of 2007. Tell us about the fundraising cycle and your target for that fund. That year was still the so-called golden era of private equity, so was it easy to sell a story about an Asia fund?
Energy Future Holdings made an interest payment of about $270 million to subordinated bondholders on Nov 1, setting the stage for a few more months of restructuring talks that are likely to come to a head early next year, sister news service Reuters reported.
Energy Future Holdings, straining under $40 billion of debt, said talks with creditors had broken off, a day after sources said the company would make a critical interest payment, sister news service Reuters reported.
Energy Future Holdings (EFH), the embattled Texas power generator, is planning to make a $270 million interest payment due on Nov 1, according to a person familiar with the matter, sister news service Reuters reported.
Altamont Capital Partners has officially begun fundraising for its second buyout fund with a target of $750 million, up $250 million from its inaugural fund which closed in 2011, on strong interest in the firm founded by veterans of Golden Gate Capital and Bain & Co, according to a person familiar with the firm.