A new survey reveals why buyout purchase multiples have been increasing in 2008, writes Andy Thomson.
The global buyout firm is to acquire a 26.7 percent stake in Shriram City Union Finance, its second investment in the Shriram Group in two years. The investment will be made from its recently closed $4bn Asian fund.
The private equity firms are reportedly in discussions to buy Lehman’s investment management unit, which includes its $30bn private equity portfolio. The price of the investment management arm, around $5bn last week, may come down after Lehman’s bankruptcy filing yesterday.
Amid the turmoil of its parent company, AIG's investment arm continues its Asian expansion with the hiring of Michael Chae. The fate of the firm’s substantial private equity and real estate businesses remains uncertain.
The publicly listed fund of funds is now trading at almost a 50 percent discount to NAV. In a statement, the fund says it is “hopeful” that a deal for Lehman’s asset management and alternatives units “will be made within a very short period of time”.
The London- and Paris-based secondaries shop has closed its latest fund and is looking forward to the ‘attractive opportunity’ for the secondaries market caused by credit market dislocation.
The troubled Australian mall owner has confirmed a $714m agreement to sell 29 of its 30 assets to a private real estate investor has collapsed. The company says the investor ‘elected to terminate the agreement’ but insisted talks were continuing.
Lehman Brothers has filed for Chapter 11 bankruptcy protection after failing to find a buyer over the weekend. The failed bank says it is in advanced discussions with a 'number' of potential buyers for its investment management unit, which includes Lehman Brothers Real Estate.
As the US insurance giant struggles to raise capital, the fate of the firm’s substantial private equity business remains uncertain. AIG Investments has not been placed for sale as part of its parent’s capital raising measures.
Lehman Brothers has filed for Chapter 11 bankruptcy protection after failing to find a buyer over the weekend. The failed bank says it is in advanced discussions with a 'number' of potential buyers for its investment management unit, which includes Lehman Brothers Real Estate.