TPG related stories
All articles and analysis
Goldman seeks LP approval for $4.5bn in distressed dealsThe firm's private equity arm wants to use half the uninvested capital from its $20bn buyout fund to back distressed companies and buy discounted debt.
- Former TPG executive Vivek Paul to launch own fund
Vivek Paul, a former TPG Ventures partner and CEO of Wipro Technologies, has set up his own private equity firm and has reportedly started raising capital for a $400m fund.
- Crown kills $1.75bn deal with Oaktree-backed Cannery
The collapsed Cannery Casinos deal is the latest sign of turmoil in the US gaming industry, where several private equity-backed casino operators, like Harrah’s and Station, are battling heavy debt loads and plummeting sales. Rather than buying Cannery as agreed, Australian casino operator Crown will pay $370m for a 24% stake.
- Aleris gets $1bn bankruptcy loan
The insolvent maker of aluminium products received court approval for a $1.075bn bankruptcy financing package despite objections from various lenders, including its owner TPG, and lenders Babson Capital and GSC Group.
- UK buyout industry faces £4.3bn in debt refinancing
As loans taken out during the market’s boom cycle come due, the UK buyout market faces a challenge as ‘any company that fails to approach its lender from a position of strength may leave with a bloody nose’, according to law firm Trowers & Hamlins.
- Macquarie Capital hires Blackstone IPO adviser
Robert Redmond, who also advised on the private equity buyouts of First Data Corp and TXU, will join as vice chairman to build its North American operations. It comes as parent Macquarie Group initiated a second round of global staff cuts, which have hit Macquarie Capital hardest.
- TPG objects to $1bn Aleris bankruptcy financing
TPG’s objection comes after Babson Capital and GSC said the proposed bankruptcy financing is unfair to first-lien lenders who do not participate in the financing package.
- Give LPs a break
As LPs increasingly push back on deal terms, GPs may want to consider some relatively low cost moves to mitigate their concerns, writes Kevin Ley.
- 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.
- Charterhouse slashes a third off Fund IX
The London-based private equity firm has cut its latest fund target from €6bn to €4bn as investor caution impacts on the fundraising environment.