Private Equity
The publicly traded buyout firm, which defaulted on $2.3bn of unsecured debt in March, told shareholders a Chapter 11 bankruptcy is unlikely.
2 min read · 05 January 2013
The global buyout firm reportedly increased its bid for the Korean beer producer to more than $1.9bn and accepted terms such as paying a further $100m if the company’s EBITDA tops estimates two years after the sale.
2 min read · 05 January 2013
GPs must aggressively analyse and restructure portfolio companies' capital structures before they reach emergency stages, Marc Rowan said at a conference in Los Angeles yesterday. The private equity industry will be one of the most challenged during this economic cycle due largely to the 'looming' maturity of debt for levered companies, he added.
3 min read · 05 January 2013
The US fund of funds has exceeded its $600m target for a fund which will invest in buyout, venture capital and distressed private equity funds.
1 min read · 05 January 2013
The largest pension in the US has charged its staff with creating a disclosure policy for placement agents and their fees after it was revealed that CalPERS has ties to a kick-back scandal involving the New York State Common Retirement Fund.
3 min read · 05 January 2013
Srini Vudayagiri was promoted to his current role from managing director less than three months ago. He will depart the firm at the end of May and ‘will continue to be part of the venture capital industry”.
1 min read · 05 January 2013
Quadrangle has chosen to pay for any and all costs that arise from investigations related to the New York State Common Retirement Fund kick-back scandal, in which the firm has some involvement, writes Christopher Witkowsky.
3 min read · 05 January 2013
There is no model for the newspaper business capable of stemming what may be ‘unending losses’, the chairman of Berkshire Hathaway said at its annual meeting. Despite the declining market, Platinum Equity recently acquired the San Diego Union-Tribune, and HM Capital is reportedly in negotiations to buy Blethen Maine Newspapers.
2 min read · 05 January 2013
The placement agent, co-founded by AVP executives Vicky Schiff and Peter Borges, paid ‘consulting’ fees to the firm run by Henry Morris. Morris is now under investigation as part of the growing kick-back scandal involving the New York State Common Retirement Fund.
2 min read · 05 January 2013
China’s $200bn sovereign wealth fund has reportedly set up a new private equity department and appointed Hu Bing as its new head.
2 min read · 05 January 2013
