Blackstone related stories
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£3bn demand for Alliance Boots(2)The syndicating banks are now reconsidering the amount they want to sell as the planned £1bn syndication is over-subscribed at the discounted rate of 91 percent to face value. Some of the selling banks are reluctant to meet the demand.
- PE stocks keep tumbling in US(2)
Shares in Blackstone and Fortress hit new lows today following analyst downgrades, while American Capital announced a $500m programme to repurchase shares trading below net asset value.
- Teachers’ may drop C$52bn BCE buyout(2)
Should courts rule that BCE’s purchasing consortium must buy out the telecom’s disgruntled bondholders, Ontario Teachers’ has said the largest LBO agreed to date may fail.
- TPG closes $19.8bn global buyout fund(2)
The mega-buyout firm has also closed its distressed financial services fund with roughly $6bn in commitments, and rounded up roughly $4bn for the final close of its Asian fund.
- SVG writes down Permira deals to tune of £67m(2)
The listed alternative asset manager incurred losses on its investments in four Permira portfolio companies last year, but its fund management business grew and Permira made ten profitable realisations.
- Babcock considers buy-back of second satellite fund(2)
The beleaguered Australian infrastructure specialist is reviewing Babcock & Brown Capital, a move that follows its purchase of another satellite fund’s management rights and highlights the difficulties the satellite fund model has faced in the wake of the global credit crisis.
- Benson Elliot, GEM buy €42.5m debt tranche
The London and Chicago-based real estate investment firms say pressure is mounting on banks with unwanted loan positions as exit routes dry up. The mezzanine debt tranche acquired by the firms is backed mainly by hotels in Germany managed by Blackstone funds.
- REITs unload RE assets as credit crunch continues
The US senior housing real estate investment trust, American Land Lease, is the latest company to announce a strategic review of its assets, including a possible sale of its properties. Since the start of 2008, the US REIT benchmark index, the FTSE NAREIT All REIT Index, has fallen 5.5 percent.
- Blackstone to buy home healthcare provider for $1.6bn(2)
Apria Healthcare Group, which has 550 branches, has also secured a $280m credit facility in conjunction with the take-private, a positive sign for for the leveraged buyout world as healthcare continues to be a favored target.
- Blackstone taps Merrill Lynch exec as CFO(2)
The private equity firm has hired Merrill chief operating officer Laurence Tosi to replace long-time partner Michael Puglisi, who will stay on as a senior managing director.