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NBK teams with GSC on Middle Eastern mezzanine fundThe firms have held a $150m first close and expect to raise $200m by the end of the first quarter.
- Harrah’s seeks to restructure $3bn in debt
The Apollo Global Management and TPG-backed casino operator has struggled in the faltering economy with dwindling revenue and heavy debt loads. The company is seeking to restructure its debt to extend maturities and reduce its outstanding principal.
- US government needs to mirror RTC in bailout plans
Following the defeat of the White House’s $700bn financial rescue package, economist and LECG director, Alan Madian, has argued the proposed legislation should only buy mortgage securities backed by real assets and provide for direct infusions of capital.
- Wachovia's private equity arm awaits parent
Wachovia Capital Partners, much like the private equity units of Lehman Brothers, Merill Lynch and AIG, is in limbo while Citi and Wells Fargo negotiate the acquisition of the bank.
- US banks attract record $5.5bn private equity investment
Despite a difficult credit market and unprecedented volatility in the US financial services sector, private equity firms poured nearly $6bn in US banks in the first half of the year and are on track to invest more.
- Report: CVC Asia, Standard Chartered eye huge Amtek exit
The two private equity firms are reportedly looking to sell the Singaporean metal stamping company for about S$1bn just over a year after acquiring it for S$552m. KKR, CVCI and Affinity Equity Partners are potential buyers, initial reports suggest.
- Report: Lehman shops $10bn alternatives arm to buyout groups
Carlyle, General Atlantic, Hellman & Friedman and Blackstone have been reported as potential buyers of Lehman Brothers divisions including its private equity arm, as the beleaguered investment bank looks to shore up its balance sheet.
- Report: Anil Ambani's Reliance Capital to raise $1bn fund
Reliance Capital, a part of the Anil Ambani-led Anil Dhirubhai Ambani Group, is set to raise capital to invest in India's services, logistics, real estate and pharmaceutical sectors.
- Brazilian asset manager arrested
Daniel Dantas, who once managed Brazil's largest private equity fund, was arrested yesterday on suspicion of heading a criminal organisation; the executive has been embroiled in a long string of legal conflicts stemming from his alleged mismanagement of the Citigroup-affiliated private equity fund.
- Block sale of KEB shares possible
The head of Korea Exchange Bank has said that Lone Star may have no choice but to go for a block sale of the bank's shares if the deal with HSBC fails to materialise.