Shares of Intrawest Resorts Holdings Inc, a mountain resort operator owned by private equity firm Fortress Investment Group LLC, fell as much as 8 percent in their debut, valuing the company at about $496 million, sister news service Reuters reported.
1 min read · 31 January 2014
Public finance specialist Depfa, which state-rescued German bank Hypo Real Estate has put on the block, has attracted binding offers from several private equity groups and hedge funds, several people familiar with the transaction told sister news service Reuters.
2 min read · 31 January 2014
The U.S. Securities and Exchange Commission (SEC) announced on Thursday it has charged a New York private equity manager and his firm with stealing more than $9 million from fund investors, sister news service Reuters reported.
2 min read · 31 January 2014
Blackstone Group LP (BX.N), TPG Capital LP and CVC Capital Partners Ltd (CVC.UL) are on a short list of buyout firms competing to acquire Gates Global Inc, in a deal expected to value the industrial company at US$5 billion to US$6 billion, people familiar with the matter told Reuters. Gates, owned by Onex Corp (OCX.TO) and the Canada Pension Plan Investment Board (CPPIB), has chosen those private equity firms for a second round of bidding after reviewing initial offers submitted last week, the people said. Previously known as Tomkins Plc, Gates filed for an initial public offering in December, more than three years after the manufacturer of auto parts and building products was taken private for US$5 billion in 2010. Should a sale occur, it would be one of the largest private equity buyouts in recent years. Leveraged buyouts exceeding US$5 billion have been infrequent since the financial crisis due to the reluctance of firms to invest large amounts of capital.
2 min read · 30 January 2014
Hedge fund owners of TI Automotive have hired the advisory arm of Blackstone Group LP to evaluate a range of options for the auto parts maker, including an initial public offering or a sale to private equity, according to people familiar with the matter, sister news service Reuters reported.
2 min read · 30 January 2014
Blackstone Group LP, TPG Capital LP and CVC Capital Partners Ltd are on a short list of buyout firms competing to acquire Gates Global Inc, in a deal expected to value the industrial company at $5 billion to $6 billion, according to people familiar with the matter, sister news service Reuters reported.
2 min read · 30 January 2014
Canadian pension fund manager Alberta Investment Management Corp (AIMCo) has opened an office in London, U.K., a strategic move that is intended to enhance its investment presence in Europe. The London office, which will be staffed by existing investment professionals managing private European portfolio assets, is AIMCo's first outside of Canada. Managing over $70 billion in assets, AIMCo invests on behalf of 28 Alberta-based pension, endowment and government funds.
2 min read · 30 January 2014
1 min read · 30 January 2014
Blackstone Group LP reported on Thursday that fourth-quarter profit surged 130 percent, capping a record earnings year and far exceeding analysts’ expectations, due to strength in its real estate business, sister news service Reuters reported.
2 min read · 30 January 2014
TPG Capital LP, a private equity firm that is behind some of the world’s largest leveraged buyouts, said it was asking some of its key investors for up to $2 billion to spend on deals until it raises a new $10 billion flagship fund, sister news service Reuters reported.
3 min read · 30 January 2014
