Nicholas Lockley
Affinity Equity Partners and TPG Capital have won shareholder approval for the buyout of Singapore-listed United Testing and Assembly Centre with a covenant-lite loan likely to cause bankers pain.
The Carlyle Group has successfully wooed Coates Hire, an Australian equipment rental company with the third offer it has tabled together with National Hire Group. The transaction, which values Coates Hire at A$1.7 billion, is the largest buyout in Australia this year.
A survey of large buyouts in the US and Europe supports the private equity industry's claims of portfolio company out-performance.
The industry is braced for a slow down as buyouts hit a European high in the first half of 2007. The second half looks more restrained after the banking liquidity crisis of the summer. Continental European deals were among the largest, said Tom Lamb, co-head Barclays Private Equity.
The US alternative assets group has sold a further 7.5 percent stake in itself to a strategic investor, valuing David Rubenstein's firm at $20 billion. It sold 5.5 percent to CalPERS in 2000.
Darwin Private Equity has held a second close of its debut fund just three months after launching with the backing of City grandee Lord Jacob Rothschild and his RIT Capital Partners trust.
The UK's second largest pension fund the Universities Superannuation Scheme is demonstrating its appetite for alternatives with the appointment of two private equity specialists to lead its co-investment programme alongside its fund investments.
Welcome back to a bigger, bolder PrivateEquityOnline.com. Your favourite news website has re-vamped its design and added new features to stay ahead of the game, writes editor Nicholas Lockley.
The European mid-market firm Bridgepoint is beginning discussions with investors for its fourth fund, targeting a 45 percent increase on its 2005 fund Bridgepoint Europe III.
Ethos Private Equity, one of South Africa’s largest domestic buyout firms, and Goldman Sachs are heading a consortium to buy local casino Gold Reef Resorts, in the US investment bank’s first deal in the country.