Reuters News

West Face Capital looking to raise $1.5 bln for new fund: Reuters

Canadian money manager West Face Capital is looking to raise US$1.5 billion for a new private equity fund, a person familiar with the situation told Reuters. The Toronto-based hedge fund is targeting both U.S. and Canadian investors, the source said. West Face, which is invests in event-oriented opportunities, is best known for taking stakes in struggling companies and pushing for changes.

Carlyle sees rise in control buyouts in China as economy slows: Reuters

Carlyle Group LP (CG.O) expects private equity firms and other investors to increasingly buy control of companies in Asia rather than minority stakes, particularly in China where slowing economic growth is likely to convince more owners to sell, Reuters reported.

Fund manager Perry Capital to liquidate its hedge funds: Reuters

Perry Capital, the hedge fund firm founded by Richard Perry and Paul Leff in 1988, plans to wind down its main hedge funds, according to a letter sent to investors on Monday and seen by Reuters.

Caesars strikes deal to end main unit's bankruptcy: Reuters

Caesars Entertainment Corp (CZR.O) has struck a deal with most of its operating unit's creditors, resolving billions of dollars in legal claims and paving the way to end to its subsidiary's costly bankruptcy, the casino company said on Tuesday.

Permira nearing deal to buy Bank of East Asia's Tricor unit, say sources: Reuters

Private equity investor Permira has emerged as the preferred bidder to buy Bank of East Asia Ltd's share registry unit Tricor Holdings for between $750 million and $800 million, sources told Reuters, after six months of bidding that attracted the interest of top Chinese insurers among others.

Austrian insurer Uniqa to sell Italian businesses: Reuters

Austrian insurer Uniqa plans to sell its Italian businesses, news agency Apa said on Monday, citing Italian union representatives.

Waste collector Advance Disposal seeks to raise $404 mln in IPO: Reuters

Waste collection company Advance Disposal Services Inc said it expects to raise as much as US$404.3 million in its initial public offering, valuing the company at about US$1.76 billion, Reuters reported. The Ponte Vedra, Florida-based company is the fifth-largest solid waste services provider in the United States. Canada Pension Plan Investment Board (CPPIB) invested US$280 million in the parent company of Advanced Disposal Services last month. It is majority-owned by Highstar Capital.

China launches a $52.5 bln restructuring fund for state-owned firms: Reuters

A private equity fund worth 350 billion yuan ($52.5 billion) has been launched in China to help with the restructuring of state firms, a newspaper run by Xinhua news agency reported on Monday.

BOE Holdings to buy BATS Global in $3.2 billion deal: Reuters

CBOE Holdings Inc (CBOE.O) said it would buy BATS Global Markets Inc (BATS.Z) for about $3.2 billion, as the largest U.S. options exchange operator looks to diversify its revenue amid muted trading volumes.

Vistra, Permira among bidders for Bank of East Asia's Tricor unit, say sources: Reuters

Bank of East Asia, whose performance has been criticized by activist investor Elliott Management, has received about five final bids for its share registry business Tricor Holdings, including from Vistra Group and private equity firm Permira, sources told Reuters.