Blackstone related stories
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KKR hires former GSO exec for mezz businessLee Stern will work in KKR’s fledgling mezzanine business, which was formed in 2008.
- The PEI Asia 30
PEI Asia’s inaugural ranking of the 30 largest private equity firms from the Middle East and the Asia Pacific.
- Cerberus holds $700m claim in Extended Stay bankruptcy
Cerberus expects to make a 100% recovery on the secured $700m loan. The hotel group was acquired by an investor group led by private equity real estate firm Lightstone Group in June 2007 for $7.4bn. There are no plans to close or sell the hotels.
- THL credit team plots public leap
The Boston buyout firm may allow LPs in a private credit-opportunity fund to cancel participation if they agree instead to a planned $300m listed credit vehicle.
- Millennium bolsters portfolio as it raises $300m
The Blackstone spin-out has already held a first close on its second fund to focus on direct venture capital secondaries. It recently acquired stakes in nine new companies including Facebook, Zappos and eHarmony.
- TPG, Goldman close largest ever private equity exit
The two mega-firms officially closed the sale of Alltel to Verizon Friday for $28bn after holding the wireless carrier for about a year. The firms reaped a profit of $1.3bn on the deal.
- Silver Lake seals biggest post-Lehman buyout
Microsoft has provided one of the biggest ever mezzanine loans to fund US buyout group Silver Lake’s record-breaking $24bn buyout of Dell.
- Better Capital partners Irish pension
The Jon Moulton-led firm and National Pensions Reserve Fund of Ireland have earmarked €100m for Irish turnarounds.
- $100m Oregon commitment for Stonepeak
The Oregon Public Employees Retirement Fund has invested with Stonepeak Infrastructure. The pension plan will put $100m with the North America fund manager, co-founded by Michael Dorrell (pictured).
- EUROPE NEWS: Gear change for España
Spain has finally created a ‘bad bank’, which means the opportunity to buy property at big discounts is coming. December 2012/January 2013 issue.