Firms and Funds

PHILADELPHIA (Reuters) – Morgan Stanley’s (MS.N) board was scheduled to meet on Saturday to weigh strategic options for the investment bank, including a possible takeover by Wachovia Corp or selling a bigger stake to China Investment Corp, sources familiar with the situation said on Saturday. No deal was seen as imminent and no formal offers were […]

NEW YORK (Reuters) – A U.S. bankruptcy judge approved a revised version of British bank Barclays Plc’s deal to purchase the core U.S. business of Lehman Brothers Holdings Inc. In a Manhattan court hearing that started on Friday and lasted past midnight, U.S. Bankruptcy Judge James Peck approved the sale, saying he had found no […]

NEW YORK (Reuters) – Morgan Stanley’s talks with Wachovia Corp, China Investment Corp and other institutions continue, though the rebound in its securities gives the investment bank more time to consider its options, a person familiar with the matter said Friday. While the priority remains staying an independent Wall Street broker-dealer, Morgan Stanley continues multiple […]

NEW YORK (Reuters) – Major shareholders of American International Group Inc are trying to help pay off a hefty federal loan before the government can take a 79.9 percent stake in the insurer, which would heavily dilute their shares, the Wall Street Journal reported. AIG, which was on the verge of collapse as it struggled […]

No, I am not referring to the storied Insight Ventures Partners. (We’ve beaten up on them plenty lately.)Insight Equity is a turnaround private equity firm based in Southlake, Texas. The firm is almost doubling its fund size in its sophomore effort. Insight is seeking to raise $500 million, up from its first fund, a $280 million 2005 vintage. The firm is on the road now, marketing Insight Equity II LP with UBS as its placement agent, a source familiar with the situation said. In an interesting development that's been springing up more and more lately,

KarpReilly LLC, a newly formed mid-market buyout firm, has held a first close on its first fund, according to a source familiar with the situation. The firm, based in Greenwich, Conn., has received $200 million in commitments for KarpReilly Capital Partners LP, anchored by commitments from JPMorgan and Blackrock. In raising its debut fund, founders […]

Bloomberg is reporting that Bain Capital and Hellman & Friedman are working together on a deal for Lehman Brothers' investment management business, with an announcement to come as early as today. Each firm last week submitted separate bids of around $4 billion for the unit, which manages over $270 billion in assets. This includes Lehman's $35 billion private equity program, which includes buyout funds, venture capital funds, funds-of-funds and fund placement.

MILAN (Reuters) – Italy’s leading investment bank Mediobanca (MDBI.MI) could be interested in some private banking assets of U.S. insurer American International Group (AIG.N) (AIG) if they were for sale, Chief Executive Alberto Nagel said on Friday. “We … could look at private banking operations, particularly in certain countries,” Nagel said in answer to an […]

BEIJING (Reuters) – China Investment Corp on Friday dampened speculation that the sovereign wealth fund could be ready to increase its stake in U.S. investment bank Morgan Stanley (MS.N). CIC bought 9.9 percent of Morgan Stanley last December and is in talks to raise its holding to as high as 49 percent, according to sources […]

NEW YORK (Reuters) – American International Group Inc (AIG.N), which narrowly escaped financial collapse this week, on Thursday said it had named Edward Liddy as chairman and chief executive. Liddy succeeds Robert Willumstad, who is leaving after three months on the job, and in the wake of AIG — once the world’s largest insurer — […]