Private Equity
The value of Yale’s endowment rose to $16.7, after earning an 8.9% investment return for the year ending June 30, 2010. The fund saw investment gains of $1.4 billion, operating budget distributions of $1.1 billion, gifts of $136 million, and adjustments of negative $70 million. The endowment was worth $16.3 billion as of June 30, 2009.
3 min read · 27 September 2010
1 min read · 24 September 2010
Private equity firms 3i and TCR, along with management led by Olivier Delrieu, will buy Trescal, a European company involved in weights and calibrations, from Astorg Partners, a French private equity firm. 3i and TCR will take a minority stake. Trescal has, since 2007, made eight acquisitions across five countries and grown its turnover from EUR 70 million to EUR 110 million ($91 million to $144 million).
3 min read · 24 September 2010
Endesa, the Spanish division of the Italian energy company Enel, is in talks with Goldman Sachs about selling 80 percent of its Spanish gas grid for around 800 million euro ($1.07 billion), according to a report in a Spanish newspaper. Funds sponsored by Macquarie and AXA Private Equity also submitted offers for the grid.
1 min read · 24 September 2010
Danish jewellery maker Pandora, which is backed by private equity firm Axcel, has attracted enough offers to cover the base deal, according to Reuters. Pandora launched the IPO of up to $2.16 billion of stock on September 20, which will allow Axcel and the company’s founding family to exit. A Danish newspaper reported that most orders were around the middle of the 175 to 225 crowns per share range ($30.8 to $39.65).
1 min read · 24 September 2010
Coast Crane Company, a Seattle crane company, has filed for Chapter 11 bankruptcy. Coast is owned by Seattle-based Northwest Capital Appreciation, which bought the company in May 2007. The company has entered into an asset purchase agreement with a stalking horse bidder, Clearlake Capital Group, a private investment firm based in New York.
3 min read · 24 September 2010
Private equity firm Blackstone said that a $10 billion leveraged buyout could happen soon, such has been the recovery in the debt markets. Blackstone is sitting on roughly $15 billion which it can invest in the private equity business and expects to raise significantly more in the future.
3 min read · 24 September 2010
Gregory Gleason has joined Corigin Holdings, a real estate investment and private equity firm, as director of finance, the company announced. Gleason had previously been at Credit Suisse Private Equity.
1 min read · 24 September 2010
U.S. billing firm CSG Systems will buy Intec Telecom Systems, a British-based rival, for 236.7 million pounds ($370.9 million), in a deal supported by private equity firm General Atlantic, which has an almost 12 percent stake in Intec. RBS Hoare Govett advised Intec and Greenhill advised CSG Systems on the deal.
2 min read · 24 September 2010
Gaelectric, an Irish energy company with operations in Europe and the U.S., has raised $18 million from European private equity sources in the form of a hybrid debt/equity instrument. The money will be used to book 960 MW of transmission capacity for wind energy developments in Montana. Gaelectric was founded in 2004.
3 min read · 24 September 2010
