Investor support for large acquisitions and a desire to trump rivals in consolidating markets have led chief executives to strike big transactions so far in 2014, raising year-to-date global deal volumes to their highest level in seven years, Reuters reported. Year-to-date global deal volume as of June 26 surged to US$1.75 trillion, up 75 percent from the year-ago period, according to Thomson Reuters data. That was the highest level since 2007, when deal volume reached US$2.28 trillion.
6 min read · 30 June 2014
As the mortgage market began to hiccup in 2007, many investors ran away from the housing sector. At Pine Brook, however, we leveraged our expertise to identify market and capital dislocations for which our business-building investment approach was well-suited. So began our five-year effort to grow—from scratch—residential mortgage insurer Essent Group Ltd., which hit a milestone with its successful October 2013 IPO.
3 min read · 30 June 2014
Capital Dynamics, the Swiss-based asset management firm, which offers secondary, private equity and real estate funds of funds, has been one of the most active investors in the clean energy and infrastructure sector over the past couple of years. And that’s no easy feat given the growing competition for deals in the asset class.
5 min read · 30 June 2014
United Parcel Service wants to co-invest in deals for the first time alongside sponsors, while Guardian Life Insurance Company of America is shopping for a separate-account manager to re-energize its co-investment program. Together they are part of a post-crisis boom in co-investing that is presenting fresh challenges for limited partners. These include side letters that give an edge to certain LPs on opportunities, heated competition for equity allocations, research showing co-investments underperform, and even the prospect of regulation by the U.S. Securities and Exchange Commission.
8 min read · 30 June 2014
Univision Communications has had several informal sale talks in the past year, but the company’s board could take a year or longer to decide on a potential deal, as the company seeks to boost profits and pay down debt, people familiar with the matter said.
3 min read · 30 June 2014
Discount supermarket chain Grocery Outlet is exploring a sale that is expected to value the bargain retailer at more than $1 billion, according to people familiar with the matter.
2 min read · 30 June 2014
Buyout shop Sycamore Partners said it was interested in acquiring apparel retailer Express Inc and asked the company to allow it to perform due diligence.
1 min read · 30 June 2014
Buyout firm Odyssey Investment Partners LLC is exploring a sale of Ranpak Corp that could value the company, one of the world’s largest producers of protective paper packaging materials, at close to $1 billion, according to people familiar with the matter.
2 min read · 30 June 2014
Food retailer Smart & Final Stores Inc, backed by buyout firm Ares Management LP, has filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock.
2 min read · 30 June 2014
Bain Capital Partners LLC will sell its equity stake worth up to $393 million in Hero MotoCorp Ltd, India’s largest maker of motorcycles and scooters, according to a deal term sheet seen by sister news service Reuters.
1 min read · 30 June 2014
