North America

Gray, Grayken, Quille or dark horse?

Three industry titans vie for one prestigious PERE award. Have you cast your vote? Polls close on 3 February for the third annual PERE Global Awards and competition is fierce. Will MGPA or GIC take the Asian firm of the year award. Will Niam/Goldman Sachs beat competition from AIG for European exit of the year?

Riverside scores 5x exit with sale to OMERS

OMERS has bought US rail maintenance company Nordco for an undisclosed amount from Riverside, representing a 31% gross IRR for the mid-market firm.

GC Equity Partners II holds AED1.75bn first close

The buyout fund, which was launched in the second half of last year with help from Credit Suisse, is expected to reach a final close on its target of AED2bn by July.

Former GE Real Estate execs spin-out

Chris Macke, former GE Real Estate vice president, has set up his own firm, General Equity Real Estate, to target single-tenant commercial properties. He will be joined by other GE Real Estate net lease professionals in the near future.

Lone Star to start lending in Japan

The US private equity firm sees an opportunity in Japan amid moves by major banks to cut their exposure to property, according to a report.

Bain wins battle for GOME stake

The buyout firm will pay up to HK$3.2bn for a stake of between 9.8% and 23.5% in the electrical appliance and consumer electronics retailer, beating rival firms including KKR and Carlyle.

Platinum Equity to acquire auto supplier Delphi for $3.6bn

The Los Angeles-based turnaround firm will operate Delphi out of bankruptcy. General Motors, which filed for bankruptcy Monday, will take over certain Delphi plants and provide the company with $250m in bankruptcy financing.

Riverside collects $1.2bn for fifth buyout fund

The lower mid-market firm has raised 30% more than its original $900m target.

Abraaj opens in Riyadh

Sari Anabtawi will head the MENASA-focused firm’s fourth office outside the UAE. He leads a seven-strong team, which will source investment opportunities and work to grow the businesses of the firm’s portfolio companies in the kingdom and in the region.

Private equity seals $900m bank rescue

Blackstone, Carlyle, Centerbridge and WL Ross have joined forces with several co-investors – including UK charity The Wellcome Trust – to buy failed Florida-based BankUnited. The FDIC is currently evaluating 'the appropriate terms' to let more private equity firms acquire failed depository banks.