U.S. private equity firm Lone Star has joined up with Indian infrastructure financier IL&FS to invest in struggling Indian infrastructure projects, the companies said on Sunday.
1 min read · 27 February 2017
Buyout firm Blackstone Group and insurer Prudential are the preferred bidders for about 12.5 billion pounds ($15.5 billion) in mortgages made by failed British lender Bradford & Bingley, a source told Reuters.
1 min read · 27 February 2017
A subsidiary of Providence Equity Partners is selling its 3.3 percent stake in India's third-biggest mobile phone carrier Idea Cellular Ltd for at least $190 million, according to a deal term sheet seen by Reuters on Monday.
1 min read · 27 February 2017
Buyout firm KKR & Co LP (KKR.N) is preparing an initial public offering (IPO) of Gardner Denver Inc that could value the U.S. industrial machinery maker at between $6 billion and $7 billion including debt, Reuters reported.
2 min read · 27 February 2017
BCBG Max Azria Group LLC, whose form-fitting party dresses have been worn by celebrities Selena Gomez, Drew Barrymore and others, is making preparations to file for bankruptcy as soon as next week, Reuters reported.
2 min read · 27 February 2017
Japan's SoftBank Group Corp (9984.T) is close to making an investment in U.S. office-sharing startup WeWork expected to be worth over $3 billion, CNBC reported on Monday, as it expands its reach beyond tech and telecoms.
2 min read · 27 February 2017
Caisse de dépôt et placement du Québec, Canada's second-biggest public pension fund, reported an average return on its investments of 7.6 percent in 2016, a lower return than the year before, reflecting challenging economic conditions, Reuters reported. The Caisse said its net assets rose to $271 billion at the end of 2016, compared with $248 billion at the end of 2015. Chief Executive Michael Sabia said the pension fund is targeting having 30 to 35 percent of its investment in less-liquid assets, such as private equity, infrastructure and real estate, in "roughly four to five years," compared with 28 percent currently.
2 min read · 24 February 2017
Canadian pension fund manager OMERS would like to invest more in building new infrastructure, its chief financial officer said, making it a candidate to support government programmes in Canada and the United States, Reuters reported.
2 min read · 24 February 2017
U.S. power utility company AES Corp said it would buy a privately-held company that builds utility-scale solar projects, along with Canadian pension fund manager Alberta Investment Management Corp (AIMCo), for US$853 million, Reuters reported. The deal to buy FTP Power LLC, popularly known as sPower, from U.S. hedge fund Fir Tree Partners also includes US$724 million in debt. AES and AIMCo will each directly purchase and own slightly below 50 percent equity interests in the business.
1 min read · 24 February 2017
Canadian pension fund manager OMERS reported an improved performance in 2016, helped by a strong performance from its private equity, infrastructure and real estate investments, Reuters reported. OMERS, or the Ontario Municipal Employees Retirement System, said it generated a 10.3 percent return in 2016, ahead of the 6.7 percent return it achieved in 2015 and ahead of a benchmark target of 7.9 percent. OMERS said its net assets rose to more than $85.2 billion, up from $77.1 billion in 2015.
1 min read · 24 February 2017
