I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
2 min read · 26 November 2018
Ares completes C-corp conversion; Wind Point to buy Kleinfelder Group; How lack of integration causes mergers to fail
2 min read · 26 November 2018
Ontario Teachers’ Pension Plan is investing in Fleet Complete by buying equity from Fleet’s existing investors, including Madison Dearborn Partners. Financial terms weren’t announced. Fleet Complete, of Toronto, provides connected vehicle technology.
4 min read · 26 November 2018
BlackRock Inc said Nov. 26 that Geraldine Buckingham was named chair and head of BlackRock Asia Pacific. She succeeds Ryan Stork, who becomes deputy global chief operating officer, based in New York. Both appointments take effect in February 2019.
2 min read · 26 November 2018
New Mountain Capital is considering taking its portfolio company, chemicals maker Avantor Inc, public in 2019, Bloomberg reported. New Mountain is considering options for Avantor, which include refinancing its debt, the story said. Avantor has about $9.4 billion in total debt, Bloomberg said.
1 min read · 26 November 2018
Wind Point Partners said Nov. 26 that it agreed to buy The Kleinfelder Group Inc. Financial terms weren’t announced. Kleinfelder, of San Diego, is an engineering firm that provides design, testing and program management services to clients. BNP Paribas is providing debt financing. Winston & Strawn LLP served as legal counsel to Wind Point. KPMG LLP provided transaction advisory services.
3 min read · 26 November 2018
Waypoint Leasing Holdings Ltd, a helicopter leasing company, said Nov. 25 that has voluntarily filed for Chapter 11 bankruptcy in New York. Waypoint said it has run a comprehensive sale process over the past months, has received many bids, and expects to use Chapter 11 to facilitate the acquisition by a new owner. Waypoint is backed by billionaires George Soros and Michael Dell. Weil, Gotshal & Manges LLP is serving as Waypoint’s legal counsel, while Houlihan Lokey is their investment banker. FTI Consulting Inc and Seabury Corporate Services LLC are serving as restructuring advisors.
3 min read · 26 November 2018
Charlie Johnstone has left ECI Partners, the Wall Street Journal said. Johnstone, who was an ECI partner, exited at the end of September, the story said. ECI closed on 700 million pounds ($927.4 million) in July, press reports said.
1 min read · 26 November 2018
DH Private Equity Partners is winding down after abandoning plans to raise a new fund, according to the Wall Street Journal. DH, which changed its name from Doughty Hanson last year, had been in talks with LPs to raise as much as 1.5 billion euros ($1.7 billion), the story said.
1 min read · 26 November 2018
Ares Management Corp said Nov. 26 that it completed its conversion to a corporation under Delaware law. It has also changed its name to Ares Management Corp from Ares Management LP.
3 min read · 26 November 2018
