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GSC's Vanden Beukel resurfaces at CD&RThe European mezzanine veteran will evaluate credit opportunities for Clayton, Dubilier & Rice.
- Banking veteran to chair Italian alternatives firm
IDeA Alternative Investments has appointed as chairman Lino Benassi, whose chairmanships currently include Banca Italease and Credit Suisse Italy. IDeA plans to augment its private equity fund products with special situation, hedge, real estate and mezzanine products as well as to launch alternative investment firms in Southern Europe.
- Lee, Black focus on non-LBO strategies
Private equity veteran Tom Lee said his firm is looking to invest without leverage in both 'good' and 'bad' banks. Meanwhile, Apollo is eyeing various credit opportunities including providing DIP financing and LBO loans, as well as buying debt in companies it 'knows well' like former portfolio company Intelsat.
- Private equity-backed Pagine Gialle seeks €200m
The Italian directory business is shoring up its balance sheet as it prepares to refinance its debt burden. Permira, CVC, BC Partners and IA are together putting in €100m.
- Report: 3i mulls move into debt investments
The UK-listed private equity frim is reportedly considering a move into investing in debt instruments. Other firms which have recently moved to take advantage of credit opportunities include Providence Equity Partners and BC Partners.
- Apollo may inject extra $150m in Realogy
The mega-firm, which took Realogy private in a 2007 deal valued at $8.5bn, has agreed to financially support its real estate brokerage platform to help it meet its debt obligations and avoid default for at least the next 12 months.
- Impetus Trust brings on Goldman veteran
The London-based venture philanthropy firm has hired former Goldman Sachs executive director Meredith Niles as it seeks to double the size of its portfolio in the next four years.
- TPG, Goldman close largest ever private equity exit
The two mega-firms officially closed the sale of Alltel to Verizon Friday for $28bn after holding the wireless carrier for about a year. The firms reaped a profit of $1.3bn on the deal.
- EQT portfolio company defaults
Bathroom-maker Sanitec is renegotiating debts with lenders; its sponsor EQT has offered to inject €100m of equity into the business in return for a €500m reduction in its debt burden. The restructuring of Sanitec is the first visible instance of EQT suffering from the global financial crisis.
- Goldman vet takes IR helm at BC Partners
Charlie Bott , the former head of Goldman Sachs’ European financial sponsors group, will co-head BCP’s investor relations as it prepares to raise Fund IX next year.