Providence Equity Partners related stories
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Cinven’s Munton takes a step backAfter nearly 30 years in the buyout industry, one of Cinven’s founding partners is scaling back his time commitment to the firm as it prepares to raise between €8bn and €10bn for its fifth fund. Cinven is also reportedly among the bidders for Anglo-Dutch media group Reed Elsevier, expected to fetch roughly £1bn.
- TXU sells $1.25bn stake in electricity distributor
TPG, Kohlberg Kravis Roberts and Goldman Sachs have sold a minority stake in the electricity distribution arm of portfolio company Energy Future Holdings, formerly TXU. The sale is the first since the record $45bn buyout closed in October 2007.
- 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.
- Istithmar leaps into entertainment with Cirque du Soleil stake
The Dubai private equity group has teamed with Dubai-backed real estate developer Nakheel to purchase a 20 percent stake in Cirque du Soleil. Famous for unusual live performances, the entertainment company will develop a permanent show on Dubai’s Palm Jumeirah island.
- SigmaBleyzer, Providence consolidate Ukrainian cable TV market
Media and communications specialist Providence Equity Partners has boosted its investment in cable company Volia to $300m, the largest private equity investment in the country to date. SigmaBleyzer first funded Volia in 1999.
- Bids for PCCW subsidiary closed today
The Hong Kong-listed telecommunications group has received 'a number of proposals' for its sale of a minority interest in a subsidiary. Private equity firms including TPG are reported to have bid.
- Illinois Teachers’ approves $1.2bn private equity ‘road map’
The $38bn public pension has approved a tactical plan that emphasises a need for geographic diversity as it moves closer to its 8 percent target allocation for private equity.
- Bell seals deal
After months of negotiations which were threatening to tip into legal action, Bell Canada has struck a $50bn deal with its banks to get its buyout away.
- Informa jumps on confirmation of buyout talks
The UK-listed business had languished since talks with a strategic buyer collapsed in the middle of last month. Interest from a consortium of three firms has lifted the share price.
- Goldman Sachs, TPG to exit Alltel in $28.1bn sale
Verizon Wireless has agreed to purchase the telecom company less than a year after it was taken private for $27.5bn.