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.
3 min read · 27 December 2017
Philip Falcone’s Harbinger Capital has sued Apollo Global Management, saying it was defrauded into pouring $2 billion into the wireless venture formerly known as LightSquared Inc, the Wall Street Journal reported. Harbinger filed the lawsuit in New York state court Thursday; it accused Apollo of concealing flaws in a planned telecommunications network that ran into regulatory roadblocks years later and drove LightSquared into bankruptcy, the story said.
1 min read · 27 December 2017
KKR said Dec. 27 that it is buying PetVet Care Centers LLC. Financial terms weren’t announced. Sellers include Ontario Teachers' Pension Plan, L Catterton, and other existing shareholders. PetVet, of Westport, Connecticut, acquires and operates general practice and specialty veterinary hospitals for companion animals.
4 min read · 27 December 2017
Vitamin World Inc said Dec 22 that it finalized its strategic restructuring and will be acquired by Feihe International Inc. Financial terms weren’t announced. Centre Lane acquired Vitamin World in 2016. Vitamin World, which sells vitamins and nutritional supplements in the U.S., filed for Chapter 11 bankruptcy protection in September.
3 min read · 27 December 2017
Dyal Capital Partners LP said Dec. 26 that it has made a strategic minority investment in Cerberus Business Finance LLC. Financial terms weren’t announced. Dyal is a unit of Neuberger Berman. Cerberus Business Finance is the middle-market lending platform of Cerberus Capital Management LP.
3 min read · 27 December 2017
GSO Capital Partners LP has closed its $2.4 billion acquisition of corporate loans and other credit investments from NewStar Financial Inc. Following the sale of the assets, First Eagle Investment Management acquired NewStar. The sale was announced in October.
2 min read · 27 December 2017
Mark Ein has agreed to buy the Washington City Paper from SouthComm Inc. Financial terms weren’t announced. Washington City Paper is an alternative weekly newspaper. Ein is an investor who previously worked at Carlyle Group, Brentwood Associates and Goldman Sachs. His blank-check company, Capitol Acquisition Corp III, acquired a stake in Cision this year.
6 min read · 26 December 2017
InterGen said Dec. 22 that it agreed to sell its business interests in Mexico for $1.256 billion to Actis. The sale is expected to close in Q2. InterGen’s Mexico portfolio includes 2,200 megawatts in operation with six combined-cycle gas turbine projects and a 155 megawatt wind project with partner IEnova. Ontario Teachers’ Pension Plan and China Huaneng Group/Guangdong Yudean Group jointly own InterGen.
3 min read · 26 December 2017
Dyal Capital Partners LP, a unit of Neuberger Berman, has acquired a minority stake in the credit business of Cerberus Capital Management LP, according to the Wall Street Journal. The deal values Cerberus at $2 billion, the story said. Cerberus business finance will use proceeds of the sale to fund operations, to partially buyout stakes held by its GPs, and to reward several professional, the WSJ said. Dyal has previously taken stakes in firms including Silver Lake and Vista Equity Partners.
1 min read · 25 December 2017
2 min read · 22 December 2017
