Private equity firm TPG Capital said on Tuesday it hired former Starwood Hotels and Resorts chief executive officer Frits van Paasschen as a senior adviser to help boost the firm’s consumer investment portfolio.
1 min read · 12 September 2017
Elliott Management Corp’s private equity arm has submitted a bid to acquire U.S. networking software maker Gigamon Inc (GIMO.N), sources told Reuters.
2 min read · 12 September 2017
British games maker Bossa Studios on Tuesday said it has raised $10 million in a funding round led by European venture capital firm Atomico, ahead of the launch of the company’s pirate-themed multiplayer online title, Worlds Adrift.
2 min read · 12 September 2017
Cabot Credit Management’s planned 1 billion pound (US$1.3 billion) initial public offering has been delayed by the resignation from its board of the former boss of Provident Financial, Reuters reported. Cabot, which is Britain’s biggest debt collection business, had planned to announce its intention to float in London this week. The company is still planning to press ahead with its flotation this year, the source said. A second source told Reuters that Canada Pension Plan Investment Board and U.K. private equity firm Apax Partners had separately expressed interest in buying Cabot this year, although the talks did not develop. Apax and CPPIB declined to comment.
2 min read · 12 September 2017
Toshiba Corp now favors a group led by Bain Capital LP and SK Hynix Inc as buyer for its prized semiconductor business, as it has failed to bridge key gaps with its business partner and rival bidder Western Digital Corp (WDC.O), Reuters reported.
1 min read · 12 September 2017
Mike Cagney, one of the most prominent executives in the U.S. financial technology sector, will step down as chief executive of Social Finance, the online lender he co-founded, before the end of the year, Reuters reported.
2 min read · 12 September 2017
Cabot Credit Management’s planned 1 billion pound ($1.3 billion) initial public offering has been delayed by the resignation from its board of the former boss of Provident Financial, Reuters reported.
1 min read · 11 September 2017
Banks are preparing to sell down a £647 million (US$852 million) leveraged loan financing backing the acquisition of U.K.-based software company Civica Group by Swiss asset manager Partners Group, banking sources told Reuters. Partners agreed to buy Civica from OMERS Private Equity in a deal that valued the company at around £1 billion, the firms said in July. Deutsche Bank and Natixis are leading the all-sterling leveraged loan financing, alongside Credit Agricole, Natwest, SMBC and UniCredit, the sources said. OMERS Private Equity, part of Canadian pension fund OMERS, acquired Civica in 2013 from 3i Group for £390 million.
2 min read · 11 September 2017
Hong Kong-based private equity firm PAG has started fundraising for a China-focused distressed debt fund with a target size of up to $300 million, IFR reported on Monday.
1 min read · 11 September 2017
Global buyout firm TPG hired industry veteran Chang Sun as head of its China business, looking to grow beyond traditional private equity investments and into distressed opportunities and real estate, among other areas, Reuters reported.
2 min read · 11 September 2017
