Bain Capital related stories
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As equity contributions fall, deal-makers try to avoid over-paying: UPDATEDWith high-profile deals such as Bain Capital’s acquisition of BMC Software, 2013’s crop of larger sponsored M&A deals saw their average equity contributions fall to their lowest level since 2007 while leverage levels crept up. That has prompted talk of discipline from deal-makers interviewed by Buyouts.
Bain and Caisse de dépôt take $300 mln from BRP secondary dealThe previously-announced sale by Bain Capital and the Caisse de dépôt et placement du Québec of holdings in Bombardier Recreational Products Inc (BRP, TSX: DOO) has been closed. The secondary offering saw Bain and the Caisse dispose of 10 million subordinate voting shares in the company, generating aggregate gross proceeds of $300 million. Upon the deal's completion, Bain held 26.9% of issued and outstanding shares in the business, and the Caisse held 5.1%. The Valcourt, Québec-based BRP, which develops, manufactures and distributes power-sports vehicles, was bought by Bain, the Caisse and members of the Bombardier family in 2003. The company completed an initial public offering in May 2013.
Montagu in $805m healthcare dealThe London-based firm fought off competition from other groups including Bain Capital.
- Appian raises $375m for mining
The Appian Natural Resources Fund will invest between $10m and $100m in mining companies.
- Splitting SunGard, sponsors clear path toward exit: UPDATE
By spinning off a unit that represents about a third of the company, owners of SunGard Data Systems Inc are separating two businesses going in different directions and giving themselves options for exiting the eight-year-old investment.
CalSTRS picks debt, energy funds as diversifiersThe California State Teachers’ Retirement System is shifting gears.
- Vortus targets $400m for debut energy fund
The Texas-based oil and gas investor has completed its first investment.
- KKR, Blackrock funds in talks to buy stake in China Huarong
KKR & Co and BlackRock Inc are among leading global investors in talks to buy a stake in China Huarong Asset Management Co Ltd as the bad debt manager seeks to raise more than $2 billion, people familiar with the matter told sister news service Reuters.
- KKR, BlackRock in talks to buy stake in China Huarong -- Reuters
KKR & Co and BlackRock Inc are among the investors in talks to buy a stake in China Huarong Asset Management Co Ltd as the bad debt manager seeks to raise more than $2 billion, people familiar with the matter told Reuters.
- KKR in $720m Japan exit(2)
The firm will exit Intelligence, a Japanese recruitment services company it held for only three years, through a trade sale to a Japanese corporation.