Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday, as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets.
2 min read · 30 October 2014
The parent company of yearbook and class ring maker Herff Jones is close to selling itself to a private equity consortium led by Charlesbank Capital Partners for about $1.5 billion, people familiar with the matter told Reuters news service.
2 min read · 30 October 2014
Excelitas Technologies Corp, a provider of lighting and sensor components to the health and defense sectors, is exploring a sale it hopes will value it at least $2 billion, including debt, people familiar with the matter.
1 min read · 30 October 2014
Deltastream Energy Corp has received $100 million in funding in a deal led by Canadian energy private equity firm ARC Financial Corp. The transaction included an equity commitment from a subsidiary of U.S. financial services firm Wells Fargo & Co. Deltastream, a Calgary-based exploration and production company focused on medium and heavy oil asset opportunities in Alberta and Saskatchewan, was founded by president and CEO Roger Tang and executive vice president Steve Brownridge. ARC managing director William Slavin is the chairman of the company's board of directors. Carl Landry, a vice president at ARC, also serves on the board.
2 min read · 29 October 2014
A consortium of two Canadian pension funds renewed its offer for satellite manufacturer Loral Space & Communications Inc, Reuters reported, citing a Wall Street Journal story. The Ontario Teachers' Pension Plan and Public Sector Pension Investment Board (PSP), recently approached Loral again about a deal, sources said. Loral's efforts to sell itself and its main asset, Telesat Holdings Inc, broke down earlier this year after the company failed to agree on a potential US$7 billion deal with the consortium.
2 min read · 29 October 2014
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1 min read · 29 October 2014
TPG Capital Management LP has hired investment bank Lazard Group LLC to sell Australian gas and electricity retailer Alinta Energy in a deal worth about A$4 billion ($3.54 billion), three sources close to the transaction told Reuters news service.
2 min read · 29 October 2014
The Carlyle Group reported a 15 percent drop in third-quarter pretax profit on Wednesday, as a halt to a stock market rally led to its private equity funds appreciating at a slower pace than a year ago, according to Reuters news service.
2 min read · 29 October 2014
The U.S. Securities and Exchange Commission is examining how private equity firms report a key metric of their past performance when they market new funds to investors, as the regulator boosts its scrutiny of the industry, people familiar with the matter told Reuters news service.
3 min read · 29 October 2014
An investor group made up of Alberta Investment Management Corp (AIMCo), Allianz Capital Partners, EDF Invest and Hastings Funds Management has closed its previously announced buy of Porterbrook Rail Finance Ltd, a rolling stock leasing company based in the United Kingdom. The financial terms of the deal were not disclosed. Update: Based in Edmonton, Alberta, AIMCo manages an investment portfolio totaling $80 billion.
3 min read · 29 October 2014
