TPG related stories
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Sainsbury’s shares slide as consortium disintegratesShares in Sainsbury’s, a UK grocery chain at the center of a controversial £10bn private equity bid, slid this morning as two more of the buyout firms involved reportedly pulled out of the deal. The news followed continuing opposition from pension fund trustees and minority shareholders.
- Sainsbury shares rise as buyout consortium takes pole position
UK retailer Marks & Spencer has ruled out an imminent bid for supermarket chain Sainsbury, removing a major obstacle to a potential offer from the CVC-led buyout consortium eyeing the company.
- Carlyle- and GS-backed Cobalt eyes $1bn listing
The oil and gas exploration platform, created in 2005 by a consortium including Carlyle, Goldman and First Reserve, hopes to fund its exploration activities despite having ‘no proved reserves’.
- Carlyle closes second Turkish deal
The private equity firm has purchased a 40% stake in the country’s second largest healthcare services company, Medical Park.
- Capmark failure spells $2bn loss for KKR, Goldman
The real estate lender has filed for bankruptcy protection. Sponsors KKR, Five Mile and Goldman Sachs are set to record one of the biggest private equity losses in history.
- Angelo Gordon hires RREEF exec to lead Japan push
Jon Tanaka has been appointed managing director and head of Japan in charge of Angelo Gordon’s real estate activities in the country.
- Colony, GA purchase US retail bank
The two private equity firms have partnered with First Republic’s management to carve out the group from BofA for a reported $1bn.
- TPG, VTB complete supermarket sweep
The US buyout giant TPG has completed the purchase of a 34.5% stake in Lenta with Russian banking partner, VTB. The deal has been announced a fortnight after Russian president Vladimir Putin encouraged foreign firms to look to the country for investments.
- Starwood leads debt purchase from Corus
Barry Sternlicht’s firm has led a consortium of investors in the purchase of loans made to condominiums by the Chicago-based bank, taking advantage of an attractive financing package offered by the failed bank’s receivers.
- Give LPs a break
As LPs increasingly push back on deal terms, GPs may want to consider some relatively low cost moves to mitigate their concerns, writes Kevin Ley.