Private Equity
The Teachers' Retirement System of Illinois made commitments to Onex Partners III and StarVest Partners II despite losing $4bn of value since the end of September. The pension is studying possible allocation changes to adjust to struggling markets.
2 min read · 05 January 2013
The credit specialist is establishing a credit dislocation and a credit hedge fund to take advantage of the liquidity crisis in the US. The firm hired Mark Zusy, a former Lehman executive, and Sukai Liu for the New York office.
1 min read · 05 January 2013
The $97bn pension, which has lost about $30bn since the end of June, increased the upper limit of its target private equity allocation to account for the denominator effect.
1 min read · 05 January 2013
The Chicago-based media company, acquired last year by real estate investor Sam Zell in an $8bn LBO, has collapsed under a $13bn debt load. Meanwhile, Avista Capital-backed Star Tribune, a major Minnesota newspaper, is cutting costs to stave off bankruptcy as it struggles with its debt load.
3 min read · 05 January 2013
Carlyle has raised $14bn on its way to $15bn for Carlyle Partners V, while Apollo was reportedly set to close Fund VII on $15bn last week.
1 min read · 05 January 2013
Harvard’s endowment has lost 22% of its $40bn portfolio value since June. It is bracing for up to a 30% drop in value for the year, once its receives fully updated private equity and real estate valuations.
2 min read · 05 January 2013
The California-based oil change service provider is selling its assets to its lenders, Goldman Sachs and Blackstone debt unit GSO Capital Partners, amid steep losses. The company blames the recession, high gas prices and negative publicity for its bankruptcy filing.
2 min read · 05 January 2013
The joint venture to provide growth capital to Chinese companies was created in 2006 with commitments of $90m each from Lehman Brothers and International Business Machines.
1 min read · 05 January 2013
The global buyout firm had objected to the $2.15bn bid submitted by Bain Capital and Hellman & Friedman and said the bankruptcy auction process was driving away alternative bidders.
1 min read · 05 January 2013
Setting the stage for a potential legal battle, the New York-based private equity firm today charged the German automaker with ‘intentionally. . . misrepresenting’ to Cerberus the state of the auto-lending market leading up to its investment in Chrysler last year. Daimler called the accusations 'absurd'.
2 min read · 05 January 2013
