The US Attorney in Illinois has charged John Orecchio, the former president of AA Capital Partners, with embezzlement for allegedly using clients’ money for personal expenditures. Orecchio is expected to plead guilty. The now-defunct AA Capital spun-out from ABN AMRO’s Fund Investment Group in 1995.
3 min read · 05 January 2013
The $32bn endowment has invested in Oaktree Opportunities Fund VIII, which is targeting between $4bn and $6bn.
1 min read · 05 January 2013
The US regulator wants to prevent GPs use of placement agents to gain public pension money. It also wants to eliminate any political donations from firms to pension officials.
2 min read · 05 January 2013
TowerBrook has its sights on forcing the bankruptcy of a floundering portfolio company, Wilton Holdings, in which GTCR and co-investor Martha Stewart have some $200m in equity.
2 min read · 05 January 2013
Earlier this month, Cinven saw a major shake-up with the departure of two partners and the promotion of Hugh Langmuir to replace Robin Hall as CEO.
2 min read · 05 January 2013
The London-based private equity firm would pay $28.50 per share for the company Bankrate.com. The all-equity deal is a 15.8% premium over the stock’s close price on Tuesday.
2 min read · 05 January 2013
The US mid-market lender, with more than $60bn of assets, has served as an important source of debt for private equity firms that operate in the mid-market.
2 min read · 05 January 2013
The distressed debt specialist has plans to buy various Nortel assets out of bankruptcy and run them as a reorganised company. A separate Nortel division is currently being pursued by Avaya, which is owned by Silver Lake and TPG.
2 min read · 05 January 2013
The San Francisco-based firm beat CCMP Capital Advisors, which submitted a $202m bid for the company in June.
2 min read · 05 January 2013
The two powerful California pensions have announced huge write-downs in private equity and real estate over the fiscal year ending in March. Both pensions have implemented measures to counter the losses, including moving allocations and negotiating for lower fees.
2 min read · 05 January 2013
