Jennifer Harris

Illinois Teachers see record PE returns(3)

Private equity outshined all other asset classes for the Illinois teachers pension, returning 31.3 percent for the year ended 30 June.

Lone Star seals Accredited deal for $311m(3)

Lone Star has finally completed its acquisition of Accredited Home Lenders. It paid $311 million for the mortgage company, a price significantly lower than its original bid.

GEM to buy 49 percent stake in Chinese coal mine(4)

The Global Emerging Markets Group has agreed to acquire a 49 percent stake in a coking coal reserve in Inner Mongolia. The deal is GEM’s second direct private equity investment in the country.

PE not included in California Iran ban(2)

The state of California has passed a law requiring that CalPERS and CalSTRS divest from companies that do business in Iran, but unlike similar bans elsewhere, private equity is not affected.

Gores to pick up Tyco unit for $100m(3)

The Gores Group will acquire Tyco’s power systems division for $100 million, as the struggling electronics company continues to sell off assets.

Carlyle appoints head of PR for Americas(2)

The Carlyle Group has hired Ellen Gonda, formerly a financial communications director at PR firm Brunswick Group, to lead its public relations efforts in North and South America. It is part of a larger expansion that will double the size of Carlyle’s global communications department.

Aureos invests in Mexican office supply distributor

Aureos Capital has made its first investment out of its current Latin America fund, which is targeting a $300 million final close in June.

Prager, NGP buy energy assets for $342m(4)

In their second joint acquisition this year, Paul Prager and Natural Gas Partners will acquire a portfolio of power generating stations and transmission projects for $342 million.

Bear, CITIC to buy $1bn stake in each other(4)

Bear Stearns and Chinese investment firm CITIC will each acquire a 6 percent stake in one another, as well as pool resources and jointly develop private equity and venture capital products for the Asian market.

Record-setting TXU buyout completed(3)

TPG, KKR and Goldman Sachs have completed the US’ largest-ever buyout in the form of their controversial, $45 billion deal for Texas energy utility TXU.