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.
American International Group Inc and Carlyle Group said Aug 1 that they are partnering to build DSA Re into a standalone provider of reinsurance, claims handling, and run-off management solutions. The deal calls for Carlyle to buy 19.9 percent of DSA Re, while DSA Re and AIG will, in aggregate, allocate $6 billion of assets into various Carlyle managed strategies. AIG established DSA Re in February 2018 as a Bermuda composite reinsurer of its Legacy insurance portfolio.
6 min read · 01 August 2018
2 min read · 31 July 2018
Spanos Barber Jesse & Co said July 31 that it closed its investment in ALS Resolvion LLC. Financial terms weren’t announced. ALS Resolvion, of Shelton, Connecticut, contracts with lenders to manage the repossession process on more than 100,000 vehicle recoveries annually.
3 min read · 31 July 2018
3 min read · 30 July 2018
Carlyle's latest U.S. buyout fund raises $18.5B; Oncap exec Hershberg jumps to Leonard Green; L Catterton to exit Zarbee’s Naturals
2 min read · 30 July 2018
Johnson & Johnson Consumer Inc have agreed to buy Zarbee’s Naturals. Financial terms weren’t announced. Sellers include L Catterton’s growth fund as well as Sorenson Capital. Zarbee’s Naturals makes a line of "family-safe" health and wellness products, including cough syrup that are free from drugs, alcohol, gluten and dyes. Houlihan Lokey provided financial advice, while Finn Dixon Herling acted as legal advisor to Zarbee’s Naturals.
4 min read · 30 July 2018
Platinum Equity said July 30 that it acquired a majority stake in in Yak Access LLC from Jones Cos and Beasley Forest Products. Financial terms weren’t announced. Yak Access, of Columbia, Missouri, provides provides temporary roadway solutions to remote construction sites, primarily serving the oil and gas pipeline and powerline sectors in the United States.
3 min read · 30 July 2018
KKR said July 30 that it agreed to buy Discovery Midstream for about $1.2 billion. TPG Growth is the seller. Discovery Midstream, Dallas, is a natural gas and oil gathering and natural gas processing services company. Simmons acted as financial adviser to KKR and Williams, while Simpson Thacher & Bartlett served as legal adviser to KKR. UPDATE: Peter Bowden, Brian Conner, Brian Bravo and Greg Chitty of Jefferies provided financial advice to TPG Growth.
5 min read · 30 July 2018
Apax Partners said July 30 that it agreed to buy Genius Sports Group. Financial terms weren’t announced. Sellers include founders, management and Three Hills Capital Partners. Genius Sports, of London, is a sports data technology company.
3 min read · 30 July 2018
Carlyle Group said July 30 that its latest U.S. buyout fund close on $18.5 billion. The fund, Carlyle Partners VII, is the largest in the firm’s history. It will make majority and strategic minority investments in the U.S. across five industries: aerospace, defense & government services; consumer & retail; healthcare; industrial & transportation; and technology, media & telecom. Carlyle’s prior U.S. buyout fund raised $13 billion.
3 min read · 30 July 2018
