Providence Equity Partners related stories
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El-Erian leaves Harvard to rejoin PIMCO(2)Harvard University's endowment is left without a head, as Mohamed El-Erian has left the $35 billion endowment for a senior role at PIMCO, where he'll lead a push into alternatives.
- Clear Channel becomes latest LBO to extend closing
Bain and TH Lee have pushed back the closing deadline by six months for their $27.5 billion buyout of Clear Channel. Goldman Sachs recently did the same for its $1 billion buyout of Myers Industries.
- SigmaBleyzer lands $200m exit from Ukrainian cable company
Providence Equity Partners has made the largest Western private equity investment in the Ukraine, buying a substantial stake in Volia Cable from SigmaBleyzer.
- Cerberus drops $6.2bn ACS bid
Cerberus’ proposed $62 per share buyout of Affiliated Computer Services is the latest LBO to fall apart.
- GP dollars flood K Street(3)
KKR recently augmented its tax lobbying capability - and it’s not alone. Buyout shops are spending millions on Washington’s K Street - synonymous with the Capitol’s powerful lobbyists - as US lawmakers mull legislation that would increase taxes.
- GMG-Apax sweeten deal to win Emap
Trade buyer Guardian Media Group has helped push Apax's bid for Emap's business to business arm over the line, despite difficult market conditions.
- Onex joins KKR team in BCE battle
Canadian private equity firm Onex has joined KKR and Canadian pension giants Caisse de dépôt and CPP Investment Board in the group’s quest to acquire Canada’s largest telecom company.
- Providence invests $300m in video games
US buyout firm Providence Equity Partners has purchased $300 million-worth of convertible preferred stock in ZeniMax Media, maker of massively multiplayer online games including Fallout.
- Club deal lawsuit dismissed(3)
An antitrust lawsuit alleging that KKR, Blackstone, Carlyle, Bain and nine other buyout groups fixed bids relating to club deals has been dismissed, though the plaintiffs are permitted to file a new suit with the same claim.
- 3i and Providence double money on TV company(3)
US TV channel NBC Universal has bought television company Sparrowhawk Media, owner of the Hallmark Channel, for about £175 million. Buyout firms 3i and Providence Equity Partners have spent the last two years turning the business around.