Vestar Capital Partners related stories
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- The Top Ten Private Equity Deals of 2010
Private equity deals rebounded with a bang in 2010. In fact, for the first time since 2007, buyout transactions globally are expected to hit more than $200 billion, according to Preqin. So far there have been 2,028 PE deals this year, valued at $196.7 billion as of Dec. 20. This compares to last year when 1,530 deals raised $87.6 billion for all of 2009. This year's totals also beat out 2008's when there were 2,117 PE transactions, valued at $180.2 billion, according to Preqin data.
- Send Distributions To Washington−Please!!
The Washington State Investment Board has edged above its target allocation to private equity, with investments accounting for 25.3 percent of its $56.3 billion portfolio as of the end of September, according to sister publication Buyouts magazine http://www.buyoutsnews.com Its target allocation is 25 percent. The deep-pocketed state's PE holdings, which date back to 1981, were valued at an estimated $13.8 billion at the end of March, according to data on the investment board's Web site. The portfolio at that point consisted of interests in 245 funds to which the state state had committed an estimated $32.5 billion. Of that, PE firms had drawn down an estimated $27.6 billion and returned $24.5 billion. Older funds that appeared, as of March, to have drawn down quite a bit more than they've distributed include Frazier Healthcare IV ($40 million committed in or around 2001, $37.8 million drawn down, $13.2 million distributed), OVP Venture Partners VI ($40 million committed in or around 2001, $40 million drawn down, and $5.6 million distributed), and Green Equity Investors IV ($100 million committed in or around 2003, $107.4 million drawn down and $36.1 million distributed).
- Buyout Shops Pay $5.3 Billion for Del Monte
Buyout shops Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners will acquire Del Monte for $5.3 billion. The deal values Del Monte at $19 per share, a 40% premium over the company’s average closing price during the past three months. The deal includes the assumption of roughly $1.3 billion in assumed debt. Debt financing will come from Bank of America, Merrill Lynch, Barclays Capital Inc., JPMorgan Chase, Morgan Stanley and KKR Capital Markets.
- Kirkland & Ellis Relocates Debolt To Hong Kong To Expand Asia PE Practice
Kirkland & Ellis International LLP relocated Partner Michel Debolt to Hong Kong from London. The move is designed to expand the firm’s private equity practice in Asia. Debolt advises private equity sponsors and their portfolio companies in Asia, Europe and North America. He focuses on mergers, acquisitions, joint ventures, interim and final liquidity realizations, equity restructurings and executive compensation, the firm said.
- AZ Electronic Raises IPO Target to $700 Million
AZ Electronic Materials, which produces chemicals used in Apple iPads, aims to raise $700 million in a London IPO, Reuters reported. The company, which is owned by private equity shops The Carlyle Group and Vestar Capital Partners had previously set the IPO target at $400 million.
- AZ Electronic Materials plans London IPO
AZ Electronic Materials, which makes certain chemicals for use in flat panel computers, is planning to raise about $400 million in an initial public offering in London, the company announced. AZ Electronic Materials is backed by private equity firms Carlyle Group and Vestar Capital Partners, with each holding 41.8 percent. The company said it will use the funds to repay debt and realize funds for its investors.
- Vestar Capital Partners V’s Affiliates Extends Tender Offer For Health Grades Till Oct 7
Vestar Capital Partners V LP’s affiliates (Mountain Acquisition Corp. and Mountain Merger Sub Corp.) and Health Grades Inc. agreed to extend the offer period for proposed $8.20 a share tender offer for all Health Grades’ shares. The offer’s new deadline is October 7 at 9 AM, New York City time.