With announced deal volumes totalling $3bn in the first eight months of the year, infrastructure and real estate are proving to be resilient investment targets in a year that has seen Indian private equity deal value drop by 20% through September.
1 min read · 22 January 2013
Aimed at becoming one of the largest owners and operators of cattle and sheep farms in the world, the fund is close to reaching its goal of raising between A$1bn to A$1.3bn, says fund director Tim Hornibrook.
2 min read · 22 January 2013
A majority of the city council supports a proposal by the Working Families Party, a grassroots political group, to include carried interest under the city’s 4% unincorporated business tax. The lobby group said 'everyone has to pay their fair share'.
2 min read · 22 January 2013
Some US officials are pushing for the introduction of public private partnerships to create permanent funding sources for transportation projects. California, New Mexico and Texas are among the states that say they need private funds.
3 min read · 22 January 2013
In light of Duke Street’s recent run in with the UK Pensions Regulator, buyout firms face the prospect of being forced to make up pension shortfalls, write Richard Garvan and Andrew Patten.
3 min read · 22 January 2013
Department store Mervyns, bought in 2004 by Lubert-Adler, Cerberus and Sun Capital for $1.2bn, will liquidate after filing for bankruptcy protection in July. Mervyns blamed the decision by its private equity-backers to separate its real estate assets from the operating company as the reason for the failure.
2 min read · 22 January 2013
Apollo Global Management bought a $201m stake in Linens ‘n Things, once the US' second largest housing retailer, in 2006. The firm has told investors the bankruptcy will only minimally affect their returns. More than 370 stores will now be liquidated.
2 min read · 22 January 2013
The Washington, DC-based firm wants to outbid Bain and Hellman & Friedman for Lehman’s investment management unit, but has said provisions in the sales agreement including a $110m break-up fee will have a chilling effect on additional bidders.
2 min read · 22 January 2013
Simpson Thacher & Bartlett, the law firm for private equity and real estate heavyweights like Blackstone, KKR and JC Flowers, will guide the government as it spends up to $250bn purchasing equity stakes in banks.
1 min read · 22 January 2013
Concern is mounting that EU legislators will introduce new rules for financial services in general that will do disproportionate damage to private equity in Europe.
3 min read · 22 January 2013
