Private Equity
The US private equity firm has closed its latest mega-fund, Carlyle V, below its original $15bn target owing to the economic climate. The fund consists of primarily returning investors and is 30% committed.
1 min read · 05 January 2013
Celtic Therapeutics, based in the Virgin Islands, will seek to exploit a ‘crisis’ in the pharmaceutical industry by buying early-to mid-stage drug development programmes. The fund is the successor to Celtic Pharmaceuticals, which reached $400m in commitments and mezzanine funding for investment in drug development programmes.
2 min read · 05 January 2013
The energy-focused private equity firm will get $19m and take over various ‘greenfield’ development projects under consideration in the US.
1 min read · 05 January 2013
The Pension Benefit Guaranty Corporation, which guarantees the pensions of about 44 million Americans, has hired gatekeepers as it prepares to allocate a portion of its $5.5bn in assets to private equity and real estate.
1 min read · 05 January 2013
Matt Blunt, the outgoing governor of Missouri, will advise Solamere Capital. The nascent firm, co-founded by one of Mitt Romney's sons, is raising a $200m debut fund. Romney was a co-founder of mega-buyout firm Bain Capital.
1 min read · 05 January 2013
The firm's Asia head, Dan Carroll, has been replaced by emerging markets head Stephen Peel. Carroll originally agreed to move to Hong Kong in 2005 for a two-year stint and has now returned to the US.
2 min read · 05 January 2013
Many private equity firms have exposure to the US auto sector that was teetering on the edge of collapse. The US government's multi-billion efforts to prop up the big three US auto makers will accordingly affect many portfolios, not just Cerberus'.
2 min read · 05 January 2013
The New York-based firm, which specialises in distressed investments, has signed a preliminary agreement to buy certain assets from Waterford Wedgwood. The china and crystal maker was put into administration earlier this week after succumbing to its heavy debt load.
1 min read · 05 January 2013
The New York-based firm has appointed current investment committee members Alexander Navab and Michael Michelson to the newly created positions of co-heads of the firm’s North American practice.
1 min read · 05 January 2013
The publicly listed private equity and hedge fund manager has seen its share price plummet from an initial IPO value of $18.50 in February 2007. One analyst said the firm’s management could elect to take Fortress private.
2 min read · 05 January 2013
