David Loglisci and Henry Morris, a former political advisor to the US public pension, allegedly extracted sham ‘finder’s fees’ from private equity and hedge funds including Carlyle, Riverstone, Aldus, Falconhead, Odyssey, Access Capital, GKM Newport, Pequot and PCG.
4 min read · 05 January 2013
Candover Investments has entered talks with interested parties on 'a range of options', including a possible takeover. The listed fund, which approached The Blackstone Group as it explores its options, has seen a 90% decline in its share price since its high last September.
2 min read · 05 January 2013
The collapsed Cannery Casinos deal is the latest sign of turmoil in the US gaming industry, where several private equity-backed casino operators, like Harrah’s and Station, are battling heavy debt loads and plummeting sales. Rather than buying Cannery as agreed, Australian casino operator Crown will pay $370m for a 24% stake.
2 min read · 05 January 2013
Bank of America has made 14-year Merrill veteran James Forbes the head of its private equity and real estate business, which includes Merrill Lynch’s $5bn to $6bn private equity division.
2 min read · 05 January 2013
The private equity firm, which first bought into MBIA in 2007, has increased its stake after the bond insurer separated its municipal bond insurance arm from its mortgage-backed insurance unit in an attempt to restructure.
2 min read · 05 January 2013
Louis Friedman, who has a long history as a dealmaker on Wall Street, is now corralling investors for a deal-by-deal private equity platform.
2 min read · 05 January 2013
The insolvent maker of aluminium products received court approval for a $1.075bn bankruptcy financing package despite objections from various lenders, including its owner TPG, and lenders Babson Capital and GSC Group.
2 min read · 05 January 2013
The London-based firm is set to take up to an 18% stake in the clothing retailer by buying a portion of the company’s second lien debt. The debt is held by a fund associated with computer billionaire Michael Dell.
2 min read · 05 January 2013
The turnaround firm purchased a larger stake in Accuride, a US autoparts maker and former KKR portfolio company, in a $70m transaction through the company’s senior secured term loan.
2 min read · 05 January 2013
The Los Angeles-based firm has added the State of Connecticut and Credit Suisse to its list of investors.
1 min read · 05 January 2013
