KKR related stories
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Providence recruits Morgan Stanley veteranAndrew Tisdale has joined media specialist Providence Equity Partners having occupied many of the key positions in the communications sector at the investment bank.
- Carlyle recruits European investment banker(2)
The Carlyle Group, the global investment firm, has expanded its European buyout team with Norbert Reis joining from Credit Suisse to cover the German and Austrian markets.
- Istithmar takes Barneys for $942m(2)
Dubai-based private equity firm Istithmar has emerged with high-end retailer Barneys New York for a purchase price of $942m, after a month-long bidding war with Japanese clothing retailer Fast Retailing.
- KKR Financial settles with lenders, sells REIT
The publicly listed KKR affiliate has agreed to swap $3.5 billion in debt for assets with its asset-backed commercial paper issuers. It will also sell a controlling interest in its REIT subsidiary to Rock Capital 2 and has proposed a rights offering of 20 million shares for ‘general corporate purposes’.
- KKR Euronext vehicle in wave of write-downs
In what could be a bellwether for interim valuations in large private equity funds, publicly traded KKR Private Equity Investors has announced a round of significant write-downs in its portfolio of direct investments, in line with fair-value accounting rules that GPs around the world are facing pressure to adopt.
- Report: Executives dispute crunch’s consequences
Buyout executives at a conference in Munich are attempting to talk up the opportunities that are available in today’s troubled markets, although Alchemy Partners’ Jon Moulton dwelled on the bad news that is to come.
- KKR increases Manhattan footprint(4)
The buyout firm has leased the eighth floor of the Crown Building, an historic Fifth Avenue skyscraper, for ‘certain administrative functions’.
- Big buyout activity collapses
Investment banking revenues from buyout firms have plummeted and deal volume was down by 65 percent in a malignant quarter for mega-buyout firms.
- TPG to pay $1.3bn for Canadian drug firm(2)
Axcan Pharma has agreed to be taken private by TPG in a transaction valued at $1.3 billion. It’s the firm’s third healthcare acquisition this year.
- Blackstone, Fortress stocks hit new lows(4)
Bleak economic data has sent US stock markets tumbling – taking Blackstone and Fortress along with – one day before markets close for the Thanksgiving holiday.