Amanda Janis

Teachers’ may drop C$52bn BCE buyout

Should courts rule that BCE’s purchasing consortium must buy out the telecom’s disgruntled bondholders, Ontario Teachers’ has said the largest LBO agreed to date may fail.

CalSTRS seeks alternatives advisors(4)

The US’ second-largest pension fund is seeking three region-specific advisors for its alternatives portfolio as its investments increasingly target geographies other than the US and Europe.

First Reserve commits $350m to oil exploration company

The energy-focussed private equity firm is the latest buyout shop to invest in Cobalt International Energy, a company that last year received $500 million from Riverstone and Goldman Sachs.

MHR closes third distressed fund on $3.5bn(3)

A $3.5 billion distressed-for-control fund was recently closed by MHR Fund Management, the New York firm led by Carl Icahn’s former chief investment advisor Mark Rachesky. It is more than three times the size of the firm’s 2002 fund.

DFJ closes debut growth-stage fund on $290m(4)

US venture firm Draper Fisher Jurvetson has closed its first-ever growth stage tech fund on $290 million, exceeding its $250 million target. The fund is already 25 percent invested in five companies DFJ hopes will become ‘$1 billion’ enterprises.

Marks: distress makes me smile(2)

In a recent interview with sister magazine Private Equity International, Oaktree chairman Howard Marks discussed his firm’s rapid expansion and expertise in profiting from troubled times.

Conversus commits $28.2m to three funds

The Euronext-listed fund of funds has made three new commitments, closed its first secondary fund portfolio and said at year end its net asset value grew nearly 12 percent since its July 2007 initial public offering.

LNK to acquire Au Bon Pain in $250m deal

The consumer retail-focussed Apax spin-out will buy casual café franchise Au Bon Pain, its second deal since closing its debut fund in May 2006.

‘Mother of all tax hikes’ opposed by industry groups, Republicans(4)

The Private Equity Council, National Venture Capital Association, International Council of Shopping Centers and many Republican lawmakers have come out in opposition to legislation introduced yesterday that would significantly increase US taxes for alternative investment fund managers.

Capitol Hill to examine PE-owned nursing homes(2)

Congressional interest in private equity-owned nursing homes remains high, as two committees in the US House of Representatives have now said they will hold hearings on the subject.