Bain Capital related stories
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Lehman buyout arm to spin outLehman Brothers Merchant Banking will partially spin out as an independent firm, while the failed bank will retain ownership of a portion of the funds. Limited partners in Lehman’s most recent buyout fund have been given the option to reduce unfunded commitments by 25%.
- Carlyle closes fifth US buyout fund on $13.7bn
The US private equity firm has closed its latest mega-fund, Carlyle V, below its original $15bn target owing to the economic climate. The fund consists of primarily returning investors and is 30% committed.
- Missouri governor to join private equity firm
Matt Blunt, the outgoing governor of Missouri, will advise Solamere Capital. The nascent firm, co-founded by one of Mitt Romney's sons, is raising a $200m debut fund. Romney was a co-founder of mega-buyout firm Bain Capital.
- Italian buyouts soar despite 2H 2008 slowdown
Despite a tail-off in the second half, the total value of deals in the world’s seventh-largest economy almost doubled to $12bn in 2008 compared with the previous year.
- LPs gear up for Lehman asset sell-off
LPs in Lehman's private equity funds have retained Kirkland & Ellis and private equity advisor StepStone to guide them through the auction of Lehman's venture and private equity funds. The bank hopes to close deals in the first quarter of 2009.
- SV Life Sciences hires three
The specialised venture firm has brought on three venture partners in healthcare and biotechnology. Gary Velasquez is returning to his post after four years helming a portfolio company, and Kevin Barrett is a joint hire with Bain Capital Ventures. Sarah Bodary joins the firm from Genentech, where she worked as a biologist.
- Report: Premier appeals to private equity
The UK food conglomerate’s chief executive has reportedly asked Goldman Sachs to approach Blackstone, Bain, Lion and Permira in the hopes of obtaining a debt-busting equity injection of up to £700m. Premier owns brands including baked goods maker Hovis.
- Mega-firms close in on $30bn
Carlyle 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.