Barclays Private Equity is being bought out by its own management team and will be re-launched as Equistone Partners Europe, Reuters reported Friday. The value of the gross assets being sold off was expected to be around 45 million pounds ($71.5 million), Reuters.
1 min read · 11 November 2011
Avante Mezzanine Partners, a lower middle market-focused mezzanine fund, has closed its first fund with $218 million in commitments. Based in Los Angeles, the fund is structured as a Small Business Investment Company. Avante says it will invest between $5 million and $20 million of subordinated debt and minority equity in companies across the U.S. that generate at least $3 million in cash flow.
2 min read · 11 November 2011
Google continued it acquisition spree this week by snatching up two startups – Apture and Katango. Katango helps people manage their online contacts. Formed in 2007, Apture provides in-page search technology. Terms of the deals were not released.
1 min read · 11 November 2011
India's Reliance Communications is in exclusive talks with private equity firms Blackstone Group and Carlyle Group to sell its telecoms tower unit, Reuters reported, citing the Times of India. A consortium of Blackstone and Carlyle was likely to complete a deal by December that was expected to value the towers at more than $3.5 billion, the newspaper said, citing an unnamed source familiar with the process.
2 min read · 11 November 2011
Canada Pension Plan Investment Board, one of the world's top private equity players, said on Thursday the value of its assets under management slipped in its fiscal second quarter, but were up on a year-over-year basis, Reuters reported.
1 min read · 10 November 2011
Advent International, Apollo Global Management and Bain Capital are among those bidding for Belgian chemicals company Taminco, which is owned by CVC Capital Partners. Buyout houses Rhone Capital and Carlyle Group are no longer in the process after their bids were deemed too low, Reuters wrote Thursday.
2 min read · 10 November 2011
Regions Financial Corp. has re-opened talks with rival Stifel Financial Corp. to bolster the unit's auction, Reuters reported Thursday. Regions resumed talks with Stifel after bids from two potential private-equity groups came in lower than expected. Thomas H. Lee Partners and a consortium that includes Blackstone Group and Carlyle Group submitted bids in the $750 million range that included financing from Regions, Reuters wrote.
2 min read · 10 November 2011
OMERS Ventures, the investment arm of the OMERS pension plan, has added Howard Gwin as a managing director. Previously, Gwin has worked as president of Solect Technology Group and as EVP of Worldwide Operations at Peoplesoft Inc.
2 min read · 10 November 2011
Top shareholders of Hynix Semiconductor Inc. will decide on Friday whether to pick sole bidder SK Telecom as the preferred investor, a lead shareholder said on Thursday, raising hopes that the long-delayed sale may finally succeed, Reuters wrote Thursday.
3 min read · 10 November 2011
TPH Partners has sold Midland, Texas-based portfolio company Storm Peak Energy. Storm Peak owns oil properties in Culberson County, Texas. Lantana Oil & Gas Partners Inc. and Kelly Hart & Hallman LLP advised Storm Peak on the asset sale. Details of the sale were not released.
2 min read · 10 November 2011
