The buyout giant estimates that the value of its private equity investments, $31.8bn as of 30 June, will continue to decline in the third quarter, according to a regulatory filing. It previously recorded a $1.2bn loss on its investments for the first half of 2008.
1 min read · 05 January 2013
A rival bidder for the Babcock & Brown satellite, Prime Retirement Trust is seeking to force shareholder approval for significant parts of Lend Lease’s competing $236.8m offer to buy a 40% stake in the retirement village investment fund.
2 min read · 05 January 2013
Unable to find a superior offer amid 'the current turmoil in the capital markets', Teranet’s board withdrew its opposition to OMERS’ unsolicited bid for the provider of electronic land registry services. The offer was set to expire on 17 Oct.
2 min read · 05 January 2013
Catterton Partners-owned cookie maker Archway & Mother’s is the latest private equity-backed company to file for bankruptcy. Standard & Poor’s estimates that ‘a disproportionate number’ of speculative-grade defaults in the next two years will be private equity-backed companies.
2 min read · 05 January 2013
The recommendations come as the region finds itself with rising infrastructure investment needs and limited public capital resources to meet them. Private finance initiatives, a type of PPP arrangement, have so far only accounted for 1 percent of the UKs total spend on such projects.
2 min read · 05 January 2013
Funded by the Asian Development Bank, officials hope the loan facility will spur up to $600m of infrastructure investment in the country. Bangladesh’s state-owned Infrastructure Development Company will administer the facility and provide 40 percent of financing for each project.
2 min read · 05 January 2013
The city’s aldermen overwhelmingly approved the Citi Infrastructure Investors-led consortium’s $2.5bn bid to privatise Midway Airport, the largest such privatisation in the US. The approval follows the expiration of a Citi consortium's $12.8bn offer for the Pennsylvania Turnpike.
2 min read · 05 January 2013
Oivind Lorentzen and Jan Naess, who control investment manager and ship agency Northern Navigation, have closed the company’s debut shipping fund. Northern previously invested in six private equity shipping funds totaling $350m through a joint venture with a German bank.
2 min read · 05 January 2013
Over two years in the making, the 700-mile natural gas pipeline represents the largest project the New York-based infrastructure investor has ever been involved in and marks a significant economic development project for the Latin American country of 30 million.
3 min read · 05 January 2013
If state and local authorities’ price expectations aren’t met, negotiations with state legislatures can prove futile for private infrastructure investors, writes Cezary Podkul.
2 min read · 05 January 2013
