The Corsair Capital-backed bank has declined to extend $175m in debt for Kohlberg & Company’s acquisition of sports caterer Centerplate. Last month, National City agreed to a $5.2bn government-backed merger with PNC Financial Services Group.
2 min read · 12 January 2013
Lehman Brothers Private Equity Partners, which is unaffiliated with the collapsed investment bank, saw its losses for the year nearly double during the month of October.
1 min read · 12 January 2013
The Texas-based western-style clothing retailer, backed by Sage Capital and Luther King Capital, has sold 22 stores to Marwit Capital on its way to total liquidation. BTWW is one of 35 private-equity backed companies that have crashed into bankruptcy in 2008.
2 min read · 12 January 2013
Lehman Brothers Private Equity Partners, which is unaffiliated with the collapsed investment bank, saw its losses for the year nearly double during the month of October.
1 min read · 12 January 2013
The publicly traded US firm suffered $698m in third quarter write-downs, $264m of which stemmed from European Capital’s sinking stock price. The firm, which was downgraded and put on a negative watch by S&P, said it was suspending dividend payments.
2 min read · 12 January 2013
The Swiss fund of funds investor, which is not a subsidiary to insurance giant AIG, has sold stakes in Avista and Sun Capital at a discount of nearly $7m.
2 min read · 12 January 2013
The New York-based private equity firm said it is waiting for real estate valuations to decline further before beginning to invest the capital. However, Blackstone’s real estate portfolio has been written down by 10% owing to the market turmoil.
2 min read · 12 January 2013
While fund managers have been busy raising distressed property vehicles, the bitter pill to swallow is that some LPs are unable to allocate equity to such funds at the moment, according to research by a prominent private equity real estate expert.
2 min read · 12 January 2013
The UK-based private equity firm had a total negative return of £182m for the first half of 2008, due in part to £411m in write-downs and an £87m drop in value of its quoted portfolio. Its buyout and infrastructure businesses produced positive returns.
2 min read · 12 January 2013
The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.
3 min read · 12 January 2013
