Providence Equity Partners related stories
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Blackstone to launch Indian outsourcing companyThe buyout firm has partnered with CMS Computers to spin out two of its divisions into a new company with Blackstone as the majority owner.
- Veteran Goldman Sachs banker retires
Charlie Bott, chairman of Goldman’s European financial sponsors group, is regarded as the first private equity-dedicated banker. He is replaced by John Waldron, previously co-head of leveraged finance.
- Report: KKR to invest in Indian cricket franchise
The private equity firm is reportedly negotiating a 47 percent stake in Deccan Chargers, a Hyderabad-based cricket team, in what will be the first private equity investment in an Indian sports franchise. The deal is estimated to be worth $20m.
- Private equity-backed companies turn to PIK
A report from Moody's Corporate Finance reveals an increase in private equity-backed companies that are electing to use their payment-in-kind option to make interest payments.
- BlackBerry Partners Fund hires two
The fund’s co-managers, JLA Ventures and RBC Venture Partners, have each contributed a new hire to the smartphone-focused venture capital group. The additions of Marc Faucher and Matt Golden bring the head count to eight.
- Credit woes hit Asia
Three large deals that have recently fallen apart show private equity activity in Asia is not immune to the global financial crisis, writes Siddharth Poddar.
- PCCW cancels $2.5bn auction
MBK, Macquarie, TPG and Providence were reportedly bidding on the telcom company, which represents the second Asian deal to be scuppered in recent days.
- Report: PE firms line up for Indian BPO company
Apax Partners, The Blackstone Group and Providence Equity Partners are reportedly eyeing the buyout of Firstsource, in a deal that could be worth about $400m.
- LS Power, GIP drop $7.8bn bid for power company
The private equity firms have said they reserve the right to file a new bid for TransAlta, a Canadian power generator that previously rejected their bid. TransAlta's shares were trading at $22.42 near the close of the market Thursday, a significant drop from the $39 per-share bid offered by the firms in July.
- Providence hires former Deutsche exec for debt fund
Thomas Gahan will take over the media and telecom-focused firm’s $1bn debt investment programme, which is exploring investment opportunities in the stagnant credit markets.