Suzanne Weinstock
Atlantis Plastics has sold off its molded plastics business to the KPS Special Situations spin-out as the distressed plastics company enters into Chapter 11.
The private equity mega-firms have agreed to purchase some $8bn in debt from Royal Bank of Scotland in addition to $5bn in debt related to the $18bn buyout of Clear Channel by Bain Capital and Thomas H Lee.
The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.
The private equity firm’s credit subsidiary, GSO Capital Partners, has closed its most recent mezzanine fund as demand for subordinated debt remains strong. The unit has also raised four CLOs and purchased $7.8bn in leveraged loans.
Chrysler Financial, the lender Cerberus purchased alongside its corresponding auto unit last July, fell $6bn short of its $30bn target while renewing its credit facilities. The lender’s credit rating was reduced to B- last week on news of the company exiting consumer leasing.
Direct secondary investment firm Accretive Exit Capital Partners has closed its HarbourVest-backed debut fund on $125m and paid Evercore Capital Partners $110m for stakes in five assets. With its debut fund nearly fully deployed, Accretive will soon head to market with a fund targeting $300m to $400m.
The Middle East- and London-based investment manager has reported its second strongest year even as net income declined and the pace of private equity deals slowed.
The global investment bank has reportedly raised $10bn to provide senior debt for private equity deals. In combination with the firm’s $20bn mezzanine fund, Goldman now has the ability to independently finance leveraged buyout of substantial size.
The Middle East- and London-based investment manager has reported its second strongest year even as net income declined and the pace of private equity deals slowed.
The global investment bank has reportedly raised $10bn to provide senior debt for private equity deals. In combination with the firm’s $20bn mezzanine fund, Goldman now has the ability to independently finance leveraged buyout of substantial size.