The former chief executive of Chrysler and Home Depot will join Cerberus Operating and Advisory Company, which is made up of operating professionals that help source deals and monitor portfolio companies.
2 min read · 05 January 2013
The troubled mid-market lender CIT Group has received a $3bn rescue package from a group of its bondholders that will prevent it from collapse, at least for the short term.
2 min read · 05 January 2013
Lazard acquired the 18-year-old private equity firm for an undisclosed amount. The Bruce Wasserstein-led firm has been slowly branching out into private equity, last year partnering with Apollo for private equity investments in Europe. It also plans to raise $100m for an India fund.
2 min read · 05 January 2013
The Silver Lake- and TPG-backed telecom company has entered a 'stalking horse' bid for a business unit of bankrupt Nortel Networks. MatlinPatterson is reportedly looking for strategic partners for a rescue plan for the company.
1 min read · 05 January 2013
Delegates at PEI Media’s Strategic Financial Management Conference Wednesday outlined the various ways private equity firms are generating additional capital outside their funds to make new investments or re-invest in oftentimes struggling portfolios.
3 min read · 05 January 2013
A new document from the New York attorney general reveals PCG saw its share of economics in a controversial co-investment vehicle drop dramatically after an employee switched to another firm and took control of the fund’s management. Chris Witkowsky explores.
3 min read · 05 January 2013
The Salt Lake City, Utah-based private equity firm has hired Gary Crittenden - former chairmen of Citi Holdings - as a managing director. The firm has collected $1.2bn for its debut fund.
1 min read · 05 January 2013
The US lobbying group for a dozen or so mega-firms is keen to support new regulations in the States, but warns the bulk of the US private equity industry - thousands of lower mid-market firms - may be adversely affected by proposed registration requirements.
2 min read · 05 January 2013
The Quadrangle co-founder will not return to the private equity firm, a source said. Shortly after Rattner’s departure in February, the firm became swept up in the ongoing pension pay-to-play scandal, with Rattner himself mentioned as playing a role. He has not been charged with wrongdoing.
2 min read · 05 January 2013
CCMP Capital Advisors has added Richard Zannino to its roster of operational specialists. Zannino will co-lead the firm's media, consumer and retail investment businesses. Last year, the firm brought on famed turnaround specialist Greg Brenneman as chairman.
2 min read · 05 January 2013
