Christopher Witkowsky

In several high-profile cases, investment performance will be determined by how well the GPs perform in bankruptcy situations, writes Christopher Witkowsky.

The PIPE will give the buyout firm 11.5 million of the bank’s common shares at $10 per share, a 4% premium over Friday’s closing price.

The $32bn endowment has invested in Oaktree Opportunities Fund VIII, which is targeting between $4bn and $6bn.

The London-based private equity firm would pay $28.50 per share for the company Bankrate.com. The all-equity deal is a 15.8% premium over the stock’s close price on Tuesday.

The distressed debt specialist has plans to buy various Nortel assets out of bankruptcy and run them as a reorganised company. A separate Nortel division is currently being pursued by Avaya, which is owned by Silver Lake and TPG.

The former chief executive of Chrysler and Home Depot will join Cerberus Operating and Advisory Company, which is made up of operating professionals that help source deals and monitor portfolio companies.

The troubled mid-market lender CIT Group has received a $3bn rescue package from a group of its bondholders that will prevent it from collapse, at least for the short term.

The Silver Lake- and TPG-backed telecom company has entered a 'stalking horse' bid for a business unit of bankrupt Nortel Networks. MatlinPatterson is reportedly looking for strategic partners for a rescue plan for the company.

TowerBrook has its sights on forcing the bankruptcy of a floundering portfolio company, Wilton Holdings, in which GTCR and co-investor Martha Stewart have some $200m in equity.

The US government has selected nine private investment firms, including Angelo Gordon, GE Real Estate, Oaktree and Invesco to help take real estate loan-backed securities off banks’ balance sheets.