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Bain, Golden Gate-Led Group to Buy BMC Software for $6.9 BlnBMC Software said Monday it agreed to be acquired by a private investor group led by Bain Capital and Golden Gate Capital for about $6.9 billion. The group also includes GIC Special Investments Pte Ltd and Insight Venture Partners. Terms of the deal call for the investor group to pay $46.25 a share for all outstanding BMC common stock. Morgan Stanley & Co. and BofA Merrill Lynch are advising BMC. Qatalyst Partners, Credit Suisse, RBC Capital Markets and Barclays are serving as financial advisors to the Investor Group.
Exclusive: Bain, Golden Gate Nearing More Than $6.5 billion Deal for BMC - SourcesA private equity group made up of Bain Capital and Golden Gate Capital Corp are nearing a deal to acquire BMC Software and an announcement could come as early as Monday, sources tell Reuters.
Blackstone May Top A Half Trillion in AUM By 2024The Blackstone Group LP sees its total fee-earning assets under management topping a half-trillion dollars in the next 10 years on a strong growth forecast across the buyout shop’s many product lines, co-founder Stephen Schwarzman told investors in the marquee private equity firm.
Former GRP Associate Is Raising a Venture Fund Called Velos PartnersIt looks like L.A. may have a new venture capital firm. Velos Partners of Beverly Hills is on the hunt for $50 million, according to an SEC filing. The firm’s managing directors include James Bailey, who most recently was an associate at GRP Partners.
- Banker Sees More EU Auto Parts Deals
An investment banker at Robert W. Baird & Co. expects more merger and acquisition activity in Europe’s automotive parts space from buyout shops on both sides of the Atlantic after his firm advised Chicago-based LKQ Corp.’s $268 million purchase of distributor Sator Beheer BV from Dutch-based H2 Equity Partners.
- Reuters - China's Fang Returns with Hopu II
Fang Fenglei, a former Goldman Sachs banker and co-founder of Hopu Investment Management, is raising up to $2 billion in a new fund, writes Reuters. Hopu surprised investors and rivals in 2010 when it suddenly wound down operations after raising and investing just one fund, which generated big returns and took part in several high-profile and profitable deals, writes Reuters.
- Reuters - Bain, Golden Gate in Lead to Buy BMC Software
A private equity group made up of Bain Capital and Golden Gate Capital Corp has emerged as the lead contender to buy BMC Software Inc for more than $6.5 billion, writes Reuters. Bain and Golden Gate, which made a binding bid for the business software maker on April 22, offered more than a rival consortium of KKR & Co LP, TPG Capital LP and Thoma Bravo LLC, writes Reuters.
VMTurbo Raises Series C In Deal Led By GlobespanVMTurbo said it raised Series C funding in a deal led by Globespan Capital. VMTurbo’s funding now totals $25 million. The company had raised a $10 million of Series B in 2011 and at that point had $17.5 million in total funding, according to news reports at the time. This suggests the current round is $7.5 million. VMTurbo didn't provide details. Existing investors include Bain Capital Ventures and Highland Capital Partners.
- Bain Sets $250M-$300M Goal For CLO Fund
Sankaty Advisors has been investing in collateralized loan obligations virtually since its establishment in 1998, but the firm, the credit arm of Bain Capital Partners LLC, is only now launching a fund dedicated to the strategy, a person with knowledge of the firm’s plan told Buyouts.