Blackstone Group has hired China dealmaker Yi Luo away from rival private equity firm Carlyle Group, Reuters reported. Luo will be a senior managing director based in Shanghai, and will be part of a new team in the region working under Asia head Michael Chae. Luo was previously a Shanghai-based managing director at Carlyle focused on Asian buyouts.
2 min read · 21 September 2011
Christopher Thomas has joined Aterian Investment Partners as a partner. Previously, he was a principal at Sun Capital Partners. New York-based Aterian Investment Partners is a private investment firm focused on small-to-middle market businesses.
2 min read · 20 September 2011
MSR Resort, a hotel chain owned by Paulson & Co., has reached a settlement with its creditors, the Government of Singapore Investment Corp. and Five Mile Capital, Reuters reported. The deal, MSR says, will allow it leeway to come up with a plan to emerge from bankruptcy, Reuters wrote. Under the settlement, MSR will present its plan by September 1, 2012. The company filed for bankruptcy in February.
2 min read · 20 September 2011
Paris-based private equity firm G Square has closed its first fund, G Square Capital I, with 209 million euro ($285.9 million). The firm is focused on mid-cap companies operating in the healthcare sector.
1 min read · 20 September 2011
Summit Partners has completed its investment in CareCentrix Inc., a provider of home healthcare benefits management services. The funding is designed to fund continued growth and development of new products. Water Street Healthcare Partners, which bought the company in 2008, will continue to hold a stake going forward. Specific terms of Summit’s investment were not released.
3 min read · 20 September 2011
MyHeritage.com, a site that combines social networking with family tree data, has acquired BackupMyTree, a free and automatic backup service for family tree data. The deal is the sixth acquisition for MyHeritage.com, which is backed by Accel Partners and Index Ventures.
4 min read · 20 September 2011
Ventizz Capital Fund IV L.P. has acquired a majority stake in the Bavarian Thomas-Krenn AG. The fund bought its stake from company founders Thomas Krenn and Max Wittenzellner and from BayBG, a Bavarian private equity company. Terms of the deal were not released. Thomas-Krenn was formed in 2002 and develops server technology and hosting services.
4 min read · 20 September 2011
Blackstone is working with Prestige Brands of America to bid on a portfolio of over-the-counter drugs owned by GlaxoSmithKline, Reuters reported. The deal is worth a reported 2 billion pounds ($3.1 billion), according to the Times. GlaxoSmithKline recently put up for sale several businesses marketing over-the-counter products.
1 min read · 20 September 2011
Bahrain-based Investcorp has acquired U.S. kitchenware retailer Sur La Table from the Behnke family and investment firm Freeman Spogli & Co., Reuters reported Tuesday. Terms of the deal were not released. Sur La Table is based in Seattle and has about 86 stores across the country. The Behnke family and Freeman Spogli & Co. remain investors in the company, though their stakes were not disclosed.
1 min read · 20 September 2011
Infinisource Inc., a provider of benefits administration technology and services has inked a majority equity investment from Accel-KKR, the company announced Monday. The added capital will be used to expand its suite of products and fuel growth efforts. As part of the deal, Gary Trainor, a former division president at both ADP and First Data, will become chief executive. Gary Hart will continue as president of the company. Terms of the deal were not released.
3 min read · 20 September 2011
