Credit Suisse related stories
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Water Street closes second fund on $650mThe fund will give the healthcare-focused private equity firm an estimated $2bn of purchasing power for middle market and divestiture deals, the first of which will be the acquisition of a controlling stake in a portfolio company of Gentiva Health Services for $147m.
- Onex Fund III hits halfway mark in $4.5bn fundraise
The publicly traded Canadian buyout firm expects to hold a final close on its third mega-fund in early 2009. CEO Gerald Schwartz has said despite having done no deals in the second quarter, Onex sees attractive opportunities and is not discouraged by credit conditions.
- TransAlta spurns C$7.7bn takeover bid
The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.
- Report: Credit Suisse invests $100m in Indian infrastructure, real estate
The investment bank’s private equity arm has reportedly purchased a minority stake in Hyderabad-based developer Indu Projects.
- Perseus leads $160m investment in specialty car maker
The Washington DC-based firm will provide growth equity to Three Seasons Capital-backed Vehicle Production Group, which has created a car for individuals with mobility problems, as well as taxis and other specialty markets. In related news, Perseus has likely lost out on its bid for bankrupt Frontier Airlines.
- Blackstone to launch infrastructure, cleantech funds
The publicly listed alternative asset manager will later this year raise private equity funds for US and European developed infrastructure, as well as cleantech and renewable energies as the market for Blackstone’s core private equity business remains challenged.
- Apollo, Blackstone to acquire $13bn in LBO loans
The private equity mega-firms have agreed to purchase some $8bn in debt from Royal Bank of Scotland in addition to $5bn in debt related to the $18bn buyout of Clear Channel by Bain Capital and Thomas H Lee.
- Report: Scandal led to Rattner’s resignation
The longtime head of DLJ Merchant Banking told The New York Times yesterday that he left the firm in part as the result of an online smear campaign’s impact on both the firm and his family. The attack was launched by the ex-husband of Rattner’s former mistress.
- Apollo gathers more than $14bn for Fund VII
The buyout firm has tacked on 7.5 million shares to its registration for a public float on the New York Stock Exchange and revealed that Fund VII is less than $1bn short of its $15bn target.
- Asciano says no to $2.7bn offer from TPG, GIP
Australia’s largest railway and port operator has decided to not allow the US private equity firms to conduct due diligence needed to finalise a bid. The initial offer from TPG and GIP ‘undervalues the business', the company has said.