Bain Capital related stories
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Mega-firms close in on $30bnCarlyle has raised $14bn on its way to $15bn for Carlyle Partners V, while Apollo was reportedly set to close Fund VII on $15bn last week.
- Carlyle declines to bid for Neuberger
The global buyout firm had objected to the $2.15bn bid submitted by Bain Capital and Hellman & Friedman and said the bankruptcy auction process was driving away alternative bidders.
- Lehman group wins Neuberger auction
A management group from Lehman Brothers beat out a $2.15bn bid from Bain Capital and Hellman & Friedman for the bank's investment management division, which includes infrastructure and some private equity businesses.
- Irving Place chief: ‘Horrendous’ holiday season ahead
Trouble in the retail sector presents opportunity, with 'some of the greatest fortunes' due to be made by savvy investors over the next year, according to John Howard, CEO of Irving Place Capital, formerly Bear Stearns Merchant Banking.
- CalSTRS increases alternatives allocation
The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.
- Tenaska Capital chief: leverage will return to energy
Paul Smith sees increasing interest in co-investment among the firm’s LPs, who have largely upped their commitments for Tenaska’s second US energy fund, TPF II, which closed today on $2.4bn.
- LinkedIn financing maintains $1bn valuation
Goldman Sachs, The McGraw-Hill Companies, SAP Ventures and Bessemer Venture Partners have added $23m on to the $53m in Series D financing the professional networking site raised over the summer.
- Blackstone- and Bain-backed Michaels’ draws $120m from revolving loan
The arts and crafts big-box chain has drawn an aggregate of $120m from its senior secured asset-based credit facility to ‘meet its cash needs while there are disruptions in the debt markets’. Bain and Blackstone bought the US retailer in 2006 in a $6bn deal.
- Carlyle says $2bn Neuberger bid too low
The Washington, DC-based firm wants to outbid Bain and Hellman & Friedman for Lehman’s investment management unit, but has said provisions in the sales agreement including a $110m break-up fee will have a chilling effect on additional bidders.
- Lehman Brothers Real Estate not part of Neuberger deal
Lehman's private equity real estate arm is not part of the $2.1bn deal by Bain Capital and Hellman & Friedman to acquire the investment bank's prized asset management business, Neuberger Berman. Lehman's private equity funds of funds and secondaries units will be sold.