Terra Verde Group, Wheelock Street buy Boot Ranch from Lehman

Terra Verde Group, in partnership with Wheelock Street Capital, acquired Boot Ranch, a 2, 052 acre master-planned community in Fredericksburg, Texas, from Lehman Brothers. The deal includes Estate and Cabin home sites, a 55,000-square-foot members-only clubhouse and village complex, a 4.5 acre pool and sports complex, an 18-hole golf course and a 34-acre golf practice park and executive par-3 course.

Debate moderator Bob Schieffer talks to the audience before the start of the final U.S. presidential debate between Republican presidential nominee Mitt Romney and President Barack Obama in Boca Raton, Florida, October 22, 2012. REUTERS/Jason Reed (UNITED STATES  - Tags: POLITICS ELECTIONS USA PRESIDENTIAL ELECTION)   - RTR39G5V

peHUB First Read

First Read closes out your week with news Intel is close to acquiring Altera for $15 bln, Bob Schieffer prepares to sign off as anchor of “Face the Nation” and ex-Lehman CEO Dick Fuld says at least his mother still loves him.


Blackstone and TSSP to acquire Acenden

Blackstone Tactical Opportunities and TPG Special Situations Partners have agreed to buy Acenden Mortgage Servicing Solutions from the administrators of Lehman Brothers. No financial terms were disclosed for the transaction, which is expected to be completed in early 2015. Based in the UK, Acenden is a mortgage servicing solutions provider.


Evercore hires Mark Hanson from Barclays for healthcare group

Evercore has hired Mark Hanson as a senior managing director in the healthcare group. Hanson, who will be based in the New York office, was most recently a managing director of investment banking in the healthcare group at Barclays since 2008, when Barclays bought the U.S. businesses of Lehman Brothers.


Dyal Capital, PE Fund Buying Hedge Firm Stakes, Tops Target

In 2010, Neuberger Berman, the big money manager spun out from the now-bankrupt Lehman Brothers, took a big gamble when it launched a new type of fund that would blur the lines between private equity and hedge funds by purchasing minority stakes in high performing hedge fund managers. More than two years later, the verdict is in…

Reuters – Texas Teachers’ Fund to Buy Stake in Formula One

The $100 billion Teacher Retirement System of Texas is to buy a stake in Formula One racing from the estate of collapsed investment bank Lehman Brothers, writes Reuters. The pension fund will buy a three percent stake in the motor racing business from the Lehman Brothers’ estate in a deal worth about $200 million, writes Reuters. This follows a string of powerful investors that have bought into Formula 1 as owner CVC gradually reduces its stake.

Japanese PE Funds Cut Back

Japan’s Unison Capital cut the size of one of the largest private equity funds in Japan by around a quarter to 107 billion yen ($1.4 billion) in October due to limited opportunities for new deals, wrote Reuters. Some private equity firms have scaled back their operations in Japan in the aftermath of the financial crisis […]


Neuberger’s Dyal Fund Blurs Line Between PE and Hedge Funds

The boundaries keep getting blurred between private equity funds and hedge funds, as one of the world’s largest money managers, Neuberger Berman, has raised most of its $1 billion target for its new Dyal Capital Partners private equity fund, which plans to take minority stakes in prominent hedge fund firms.

According to a person familiar with the fund, Dyal so far has raised more than $600 million toward its goal. Dyal began raising money in July 2010, and there is a good possibility that the fund will be able to close by the end of 2011, the person said.

Scoop: Providence Equity COO Gary Weinstein Is Out–UPDATED

Providence Equity Partners’ chief operating officer is no longer with the LBO shop, less than three years into his new role, peHUB has learned. UPDATE: “We appreciate Gary’s contributions to the firm over the last three years, and we wish him well in his future endeavors,” the firm said in a statement e-mailed to peHUB. […]

Lehman Sues JPMorgan for $5 Billion

(Reuters) – Lehman Brothers Holdings Inc (LEHMQ.PK) and a group of unsecured creditors on Wednesday sued JPMorgan Chase & Co (JPM.N) for more than $5 billion, accusing the bank of siphoning billions of dollars of critically-needed assets, and hastening its bankruptcy. In a lawsuit filed in Manhattan bankruptcy court, the plaintiffs accused JPMorgan of extracting […]

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