Providence Equity Partners related stories
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Citi chairman joins ProvidenceRichard Parsons will advise the media- and communications-focused buyout firm, which is reportedly mulling a bid for the Travel Channel along with KKR and THL.
- Report: Blackstone- and Providence-backed media company teeters on verge of bankruptcy
Newspaper owner Freedom Communications, which the mega-firms helped recapitalise in 2004, is reportedly on the verge of a bankruptcy filing.
- Report: IDFC Private Equity to inject INR2.5bn in Quippo
The India-focused private equity firm is reportedly upping its stake in the publicly traded telecom infrastructure company.
- GSC's Vanden Beukel resurfaces at CD&R
The European mezzanine veteran will evaluate credit opportunities for Clayton, Dubilier & Rice.
- Ratings agencies: Debt to sink largest-ever LBO target
Moody's has followed Fitch in slashing its debt rating for Energy Future Holdings as concerns mount over its ability to pay creditors. The company formerly known as TXU was purchased by TPG, KKR and Goldman Sachs in a $45bn transaction, the largest-ever buyout closed to date.
- Former BCE chief to lead Caisse de dépôt
Michael Sabia, the ex-CEO of BCE who worked on the failed take-private of the Canada telecoms company, has been appointed president of the C$120bn Canadian pension.
- 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.
- Carlyle nets $234m from Maneely break-up
Russian steelmaker Novolipetsk Steel will pay the buyout firm less than half the maximum possible damages for withdrawing from the $3.53bn acquisition of John Maneely, a deal struck last August.
- EVCA delegates: Private equity model isn’t broken
Research released at EVCA’s Investors’ Forum in Geneva today reveals that despite negative returns in 2008, long-term IRRs remain robust. Comments from delegates, including Providence’s John Hahn and the Wellcome Trust’s Danny Truell, reflect an industry engaged in self-critical dialogue as it returns to its roots.
- LBO France to raise debut credit fund
Fresh from raising nearly €1bn for its eighth mid-cap fund, the French private equity firm is aligning itself to take advantage of market dislocation. It is also raising its third small-cap fund.