North America

KKR writes to ‘nil’ some $4bn in equity

While the equity in Capmark Financial and ProSiebenSat is valued at or near zero, the mega-firm wrote up several investments, including IPO-bound Dollar General.

Merrill Lynch signals end of Asia real estate platform

As well as selling the management of its Asian Real Estate Opportunity Fund, the bank is also offering for sale the management of all the remaining assets in the region on its balance sheet.

TPG to lead HK$1.65bn PIPE in Chinese retailer

TPG has teamed up to buy an 11% stake in Wumart with Chinese private equity firm Hony Capital and its parent, Legend Holdings.

Tennessee approves $150m in first ever PE commitments

The $27bn pension chose TA Associates, Hellman & Friedman and Khosla Ventures to receive its debut private equity commitments.

Nova, FF&P to buy Shanghai-based optics company

The UK-based private equity firms will acquire Oerlikon Optics’ assets in China, the US, Japan, Taiwan and Liechtenstein.

Blackstone, Fortress chiefs criticise FDIC proposals

Tony James and Wes Edens have each said during earnings calls this week that their firms are eager to do US bank deals, but warned proposed FDIC policies may deter investment.

Non-US GPs may need to register with SEC

Proposed regulations could force many 'foreign advisors' to register with the SEC, potentially causing them to limit their number of US LPs.

Private equity exploits the PIPE-line

CD&R and One Equity Partners have become the latest private equity firms to dip their toes in the public markets.

LS Power in $1bn deal with Dynegy

The power-focused private equity firm will acquire power plants and a 15% stake in the major US power generation corporation, now struggling with liquidity issues.

CLSA, Guosheng team to raise RMB10bn

The bank and state-backed firm are the latest to take advantage of Shanghai's pilot fund policy. The CLSA fund will invest in sectors including renewable energy.