TPG related stories
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North Carolina CIO resigns after five yearsPatricia Gerrick has resigned for undisclosed reasons after driving the state pension exposure to real estate and private equity to 5% respectively. The pension lost 14% of its value in the past year.
- And the winner is ...
CVC, Hellman & Friedman, Welsh Carson, Advent and Actis are among the industry veterans to have won awards in the highly regarded Private Equity International Awards 2008.
- GIC names heads of Europe, Americas
The Singaporean sovereign fund continues its management overhaul, appointing Lim Chow Kiat and Anthony Lim Weng Kin as respective regional heads.
- US pensions join PE firms against FDIC bank rules
Public pensions from Oregon and New Jersey are among those aruing the proposed bank ownership rules, on which the FDIC votes this week, could 'slow the healing' of the financial sector.
- Blackstone, Centerbridge offer alternatives to FDIC rules
Lower capitalisation levels and shorter hold periods are among the changes to proposed FDIC bank ownership rules offered by a group of private equity firms.
- FDIC establishes rules for private equity bank buyouts
The US banking regulator scaled back its proposed rules, easing certain requirements that had attracted industry criticism including Tier 1 leverage ratios.
- Carlyle collects $1bn for ‘bad bank’ fund
The New York-based firm is raising $3bn for its financial services-focused fund. TPG and JC Flowers are also looking to invest in the sector.
- Goldman seeks LP approval for $4.5bn in distressed deals
The firm's private equity arm wants to use half the uninvested capital from its $20bn buyout fund to back distressed companies and buy discounted debt.
- Carlyle, TPG move to appease lenders
Carlyle wants to inject £25m into IMO Carwash, while TPG reportedly has offered to write a €60m equity cheque for UK chemicals company Vita. The actions are meant to trigger debt write-downs from portfolio company creditors.
- Crown terminates acquisition of Oaktree-backed Cannery Casinos
The Cannery deal, valued at $1.75bn, is the latest sign of turmoil in the US casino industry, where several casino operators like Harrah’s and Station Casinos, are battling heavy debt loads and plummeting sales.