Credit Suisse related stories
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LS Power, GIP drop $7.8bn bid for power companyThe private equity firms have said they reserve the right to file a new bid for TransAlta, a Canadian power generator that previously rejected their bid. TransAlta's shares were trading at $22.42 near the close of the market Thursday, a significant drop from the $39 per-share bid offered by the firms in July.
- Apollo commits $540m to portfolio company Hexion
The global buyout firm has agreed to provide equity and waive fees in support of Hexion’s $10.6bn merger with Huntsman. Last week, Hexion was ordered by a Delaware Court to comply with the buyout agreement in an effort to close.
- Hudson acquires Spanish energy developer
The New Jersey-based clean energy firm is integrating Helium Energy into a new portfolio company as part of a strategy to expand its overseas presence in wind and solar production.
- GIP to buy AIG’s stake in London's City Airport
The single runway airport will belong solely to Global Infrastructure Partners after it buys out co-owner AIG’s stake in a transaction reportedly valued at £250m. The two firms bought the airport in 2006 from Irish billionaire Dermot Desmond.
- Trivest closes Fund IV on $325m
The Miami-based firm, which has sponsored 145 acquisitions and recapitalisations since its founding in 1981, has already invested 20 percent of the fund’s capital.
- Debt in two deals selling at 70% of par
Leveraged loans from buyouts are selling at a steep discount. According to reports, KKR and Permira have purchased more than €100m of portfolio company ProSiebenSat.1’s leveraged loans and banks are struggling to offload Clear Channel debt.
- Hudson gains Credit Suisse fundraising exec
The clean energy fund's hire of Larry Henry follows a $300m capital commitment to Hudson by Credit Suisse as well as the departure of the vice chairman of its investment banking division to co-head the Goldman Sachs spin-out.
- AIG’s $30bn alternatives business hangs in balance
As the US insurance giant struggles to raise capital, the fate of the firm’s substantial private equity business remains uncertain. AIG Investments has not been placed for sale as part of its parent’s capital raising measures.
- American Securities closes 25-year fund
The middle market specialist has raised $2.3bn from family offices and endowments for its fifth fund, which has more than double the life of a standard fund, demonstrating the firm has the capital 'to put their money where their mouth is and be long-term investors'.
- VCs inject $93m into Indian opticals group
IDFC Private Equity, its parent company IDFC and CDC Group are part of a consortium participating in a second round of funding for Moser Baer PhotoVoltaic.