Amanda Janis
US buyout firm TH Lee has created a credit fund with $500 million in commitments and a dedicated credit division staffed largely by ex-AIG executives, including AIGGIG’s former head of private placement, Sam Tillinghast.
Angelo Gordon has bolstered its private equity group before raising its fourth private equity fund, which is targeting $700 million, and a “reserve fund” aiming for $200 million.
Carlyle’s sale of cable TV provider Insight Communications has reportedly been halted in the hopes that it will fetch a higher price once debt markets are less volatile.
US Federal Reserve Chairman Ben Bernanke told Congress that financing activity in bond and business loan markets remains brisk, despite widening credit spreads and tightening of terms for leveraged business loans.
KKR has refuted a UK media report that the buyout firm has postponed its planned $1.25 billion IPO on the New York Stock Exchange.
Blackstone and Fortress are taking a beating on Wall Street today.
As Canada’s venture capital investments suffered a 12 percent year-over decline in the second quarter, private equity deals surged to a record C$55.6 billion, well outperforming last year’s total deal volume of C$11.6 billion.
The Dallas-based private equity firm is being sued by Accredited Home Lenders after it said Friday it may back away from its previously agreed $400 million buyout of the subprime mortgage company. Lone Star has extended the tender deadline.
Tony James, the US company’s president and chief operating officer, outlined its strategy to capitalise on tougher debt markets, including smaller deals and distressed debt investing, and warned that the credit environment may have a short-term negative impact on fees.
Limited partners and their advisors have conflicting views on the $21.7 billion Blackstone fund closed this week, disagreeing on whether its record-setting size means more problems or advantages for LPs.