US private equity firm TPG Capital has raised $305 million by selling about half of its stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd, writes Reuters. TPG, which owned about 20 percent of Shriram Transport before the sale, sold the shares at 715 rupees each to a large number of overseas and domestic institutional investors, writes Reuters.
1 min read · 21 February 2013
Wells Fargo is ramping up its private equity business in spite of the Volcker Rule, writes Reuters. The bank invests in buyouts and venture capital deals largely on its own, with capital only from Wells Fargo itself and some employees, writes Reuters.
6 min read · 21 February 2013
Online scrapbook Pinterest has raised a new $200 million round of funding that gives it a valuation of $2.5 billion, the company said on Wednesday.
2 min read · 21 February 2013
LivingSocial, the second-largest daily deal company, raised $110 million in a new round of financing from many of its existing investors, Chief Executive Tim O'Shaughnessy wrote in a memo to employees on Wednesday.
1 min read · 20 February 2013
Iconix Brand Group, which licenses shoe and clothing brands to retailers and manufacturers, has acquired British denim label Lee Cooper for $72 million in cash, writes Reuters. The company, owner of brands such as Ed Hardy, Rocawear and Candie's, said it bought the Lee Cooper brand through its Luxembourg subsidiary -- Iconix Luxembourg Holdings Sarl.
1 min read · 20 February 2013
Bain Capital raised about $69 million from a selldown in Hong Kong-listed Greatview Aseptic Packaging Co Ltd, IFR reported on Wednesday, writes Reuters. Bain sold 110 million shares of Greatview at HK$4.85 each, putting the total deal at HK$534 million ($69 million), added IFR, a Thomson Reuters publication.
1 min read · 20 February 2013
Quintiles Transnational Holdings, a provider of testing services to drugmakers, has filed with US regulators to raise up to $600 million in an initial public offering of common stock, writes Reuters. The company is backed by private equity investors Bain Capital LLC and TPG Capital LP.
2 min read · 20 February 2013
Blackstone Group president Tony James earned $64.2 million last week by selling a fraction of his stake in the company at a time when its shares are hovering near a five-year high, writes Reuters. James joined Blackstone in 2002 as co-founder and is credited with much of the company's expansion into asset classes beyond private equity, writes Reuters.
2 min read · 20 February 2013
Antitrust experts said on Tuesday there were no guarantees that a deal to merge Office Depot Inc, the No. 2 U.S. office supply retailer, with smaller rival OfficeMax Inc would win government approval. The two companies are in advanced talks to merge and a deal could come as early as this week, a person familiar with the matter said on Monday. Among antitrust experts polled by Reuters, one said the deal was likely to be approved, two forecast a potential challenge by regulators and four said it was too close to call for now.
4 min read · 20 February 2013
Fashion designer Michael Kors is planning to sell a big chunk of his stake in his namesake fashion house at a time when the company's shares are at an all-time high, Reuters reported. Kors will sell 3 million of his Michael Kors Holdings Inc. shares as part of a secondary offering of 25 million shares the company announced in a regulatory filing on Tuesday. Kors' ownership in the company will fall to about 4.8 million shares, or 2.4 percent down from 3.9 percent after the sale. The filing came after Kors shares reached a new high, closing at $64.84 on the New York Stock Exchange on Tuesday. The stock has more than tripled since Kors' IPO in December 2011.
2 min read · 20 February 2013
