With acquisitions in the U.S. financial services industry slowing to a crawl since the 2008-09 financial crisis, private equity funds have provided a rare bright spot with their pursuit of annuity portfolios that insurers have been eager to sell. But sister news service Reuters reports that the dealmaking may have hit a roadblock now that New York’s top financial regulator has decided to launch a review, concerned that the private equity firms are taking on too much risk — at the expense of consumers who hold the annuities.
4 min read · 27 June 2013
Alok Singh, the former New Mountain Capital managing director, has co-founded Bridge Growth Partners along with Sander Levy, an ex-Vestar Capital managing director and a former founding partner, sister website peHUB reported.
2 min read · 25 June 2013
3 min read · 24 June 2013
Apax Partners LLP has announced it raised $7.5 billion for its latest global private equity fund, Apax VIII, two years after it approached investors with the goal of raising $11.8 billion (9 billion euros) from them, sister news service Reuters reported.
2 min read · 24 June 2013
CVC Credit Partners has raised 350 million euros ($461 million) for a new listed fund, described by market participants as the first of its kind, that will invest in sub-investment grade credit and provide another source of liquidity in Europe’s leveraged loan market.
3 min read · 21 June 2013
2 min read · 21 June 2013
More than four in 10 North American buyout shops assign carry points to executives on a purely discretionary basis, but several other options are also in use.
1 min read · 21 June 2013
Warburg Pincus is trying to persuade European banks to sell it more of their businesses by buying minority stakes that allow them to share in any future upside, a senior executive told Reuters.
3 min read · 20 June 2013
3 min read · 19 June 2013
Orchard Supply Hardware Stores Corp, spun off by Sears Holdings Corp less than two years ago, has filed for Chapter 11 bankruptcy protection, partly blaming hefty dividends paid out to its former parent, sister news service Reuters reported. Los Angeles-based Ares Management LLC is Orchard Supply’s largest shareholder, with a stake of nearly 20 percent.
3 min read · 19 June 2013
