Singapore sovereign investor GIC said on Wednesday it has invested in a real estate fund which acquired the Hyundai Logistics Distribution Center in Incheon, South Korea, from its developer LogisKowel for $130 million.
1 min read · 13 July 2016
Canadian pension fund manager PSP Investments had hired Oliver Duff as managing director of principal debt and credit investments (Europe), to lead a European private debt push, Reuters reported. Duff will start in September in London. PSP, which has $112 billion in assets under management, said it is aiming to deploy about $5.6 billion in private debt financing globally over the next three years.
1 min read · 13 July 2016
Britain's vote to leave the European Union has put private equity firms on the back foot, forcing them to stall some planned deals, reconsider fundraising strategies and possibly move staff to centers that will remain in the bloc, Reuters News reported.
5 min read · 13 July 2016
Brookfield Asset Management said it had raised US$14 billion for its new global infrastructure fund, giving it a war chest to hunt for assets around the world, Reuters reported. The fund has so far committed to invest more than US$3 billion in assets, including a portfolio of U.S. hydroelectric facilities, a portfolio of Brazilian electricity transmission projects, a Colombian power generation company, a portfolio of Peruvian toll roads, and a U.S. water infrastructure project developer.
1 min read · 12 July 2016
A group that includes shareholders of Essar Global said it signed a letter of intent with a local unit of the United Steelworkers Union to negotiate a deal to buy Canada's Essar Steel Algoma Inc for about US$900 million, Reuters reported. Essar Global said in a statement last month that it did not support a deal to sell Essar Steel Algoma's assets to a consortium formed by U.S. private equity firm KPS Capital Partners. Algoma, bought nearly a decade ago by Indian energy and resources conglomerate Essar Global, had put itself up for sale while operating under creditor protection.
1 min read · 12 July 2016
China Vanke Co Ltd said it and partners are in talks to acquire some commercial property firms from Blackstone Group LP and other third parties for 12.9 billion yuan ($1.9 billion), Reuters News reported.
2 min read · 12 July 2016
Caesars Entertainment Corp (CZR.O) and Caesars Acquisition Co (CACQ.O) have amended their proposed merger agreement, which is intertwined with the $18 billion bankruptcy of the casino company's main operating unit, the companies said on Monday.
2 min read · 11 July 2016
Sports and celebrity talent management agency WME-IMG said it would buy Ultimate Fighting Championship (UFC), which organizes mixed martial arts events, in a deal backed by private equity firms Silver Lake Partners LP and KKR & Co LP.
1 min read · 11 July 2016
Thomson Reuters Corp said it agreed to sell its intellectual property and science business to private equity firms Onex Corp and Baring Private Equity Asia for US$3.55 billion in cash, Reuters reported. The business being sold provides intellectual property and scientific information and associated tools and services to governments, universities and companies. Toronto-based Onex said the deal is expected to be funded with an equity investment of about US$1.6 billion. Onex’ portion of the investment (about US$1.2 billion) will be made by Onex Partners IV and certain co-investors.
2 min read · 11 July 2016
Japanese messaging app firm Line Corp priced its initial public offering at the top of its marketed range, putting it on track to raise as much as $1.3 billion and reflecting robust appetite for the world's biggest tech listing this year, Reuters News reported.
2 min read · 11 July 2016
