Apollo Global Management has completed the acquisition of Gulf Stream Asset Management, a company that manages Collateralized Loan Obligations with approximately $3 billion in assets under management. The deal was first announced in July.
2 min read · 25 October 2011
Soros Fund Management, owned by billionaire investor George Soros, has reported a 5.6% stake in WebMD Health Corp., Reuters reported, citing a regulatory filing. This disclosure follows a similar announcement on Friday by Carl Icahn, who revealed a nearly 8 percent stake in the company's outstanding stock, through direct and indirect holdings, Reuters wrote.
1 min read · 25 October 2011
Kennedy Wilson Holdings Inc., an international real estate investment and services company, said it and its institutional partners have agreed to buy a loan portfolio from Bank of Ireland for $1.8 billion, Reuters reported Monday. In July this year, the Irish government halved its stake in Bank of Ireland. Canada's Fairfax Financial Holdings, buyout firm WL Ross & Co., Fidelity Investments, investment firm The Capital Group and Kennedy Wilson were named as the investors by Bank of Ireland, Reuters wrote.
2 min read · 24 October 2011
Trilliant, a smart grid communications company, has named Steve Geiser chief financial officer. Geiser served previously as the CFO of Raza Microelectronics Inc. Trilliant. Based in Redwood City, Calif., is backed by investors including GE, Investor Growth Capital, MissionPoint Capital Partners, UMC Capital, VantagePoint Capital Partners and zouk ventures.
2 min read · 24 October 2011
Atlantic Street Capital, a private equity firm focused on lower middle-market deals, has acquired Z Wireless, a retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains. Terms of the deal were not released. Z Wireless is based in South Dakota.
2 min read · 24 October 2011
U.S. bank Regions Financial Corp. is offering as much as $200 million to help finance the sale of its Morgan Keegan brokerage unit, Reuters reported over the weekend, citing a Bloomberg story. Regions Financial is in talks with competing groups of private equity firms about a sale. The bank bought Morgan Keegan for $789 million in 2001 and disclosed plans to sell the division in June, Reuters wrote.
1 min read · 24 October 2011
Beating private equity firms such as MBK Partners, online shopping mall operator Interpark has been named the preferred bidder for Samsung Group's procurement arm iMarketKorea Inc., Reuters reported.
1 min read · 24 October 2011
Mattel is paying $680 million in cash to buy HIT Entertainment from a consortium led by Apax Partners. HIT Entertainment owns preschool toy brands including Thomas & Friends and Barney. The purchase price equates to a multiple of about 9.5 times trailing earnings before interest, tax, depreciation and amortization, the company’s said in a release.
6 min read · 24 October 2011
Bravia Capital and HNA Group have completed the acquisition of ACT Airlines, an air cargo operator based in Istanbul, Turkey. Terms of the deal were not released, and the airline has been renamed “MyCargo Airlines.” Bravia Capital is a Hong Kong based private equity firm. HNA Group is based in China.
4 min read · 24 October 2011
Private equity firm ClearLight Partners is exiting its investment in Switchcraft Holdco Inc., selling the company to publicly traded HEICO Corp. Terms were not released. Chicago-based Switchcraft is a designer and manufacturer of electronic connectors and cable assemblies for the electronics industry.
2 min read · 24 October 2011
