PE Hub Staff

AIG To Sell Asset Management Unit for $500 Million

Orbit SPAC Cancels IPO

Cobalt Energy Files for $1.15 Billion IPO

Investor AB and Priveq Receive Swedish Orphan Bids

Lazard Middle Market Loses Pair (Updated)

Bill Sharpe and David Santoni have left Lazard Middle Market. Sharpe was a managing director and COO, while Santoni was a managing director. Calls to Lazard Middle Market for comment were not returned. Update: Prestwick Partners has announced that Santoni is joining as a partner. Here is the press release:

Graham Partners Raises $515 Million

Nortek Filing for Bankruptcy Protection

NTK Holdings Inc. (Nortek), a Providence, R.I.-based maker of ventilation, air conditioning and heating products, said that it will file for bankruptcy protection as part of a restructuring agreement with its lenders. THL Partners acquired NTK from Kelso & Co. in 2004, and held a 66.48% equity stake as of late 2007, when NTK canceled a proposed $690 million IPO.

Sony, PE Firms Circle LG-Nortel Stake

Cloud Packaging Adds On

Cloud Packaging Solutions, a portfolio company of Cameron Holdings, has acquired Toll Packaging Group LLC, a Gibson City, Ill.-based contract packager of food and consumer products. No financial terms were disclosed.

Caroline Chabrerie Joins Proskauer Rose

Caroline Chabrerie has joined Proskauer Rose as a partner in the firm's Paris office. She will focus on private investment fund formation and related transactions, and previously was with SJ Berwin. Also coming over from SJ Berwin is senior associate Christophe Baert.