The details of the sale options for struggling UK bank Northern Rock reveal bidders may be able to acquire the bank without taking on the company’s expected £24 billion debt to the Bank of England.
2 min read · 12 January 2013
Canadian private equity firm Onex revealed currency-related losses of $77 million during a conference call following the release of its third quarter earnings report.
1 min read · 12 January 2013
Fortress reported a loss of $38 million for the third quarter, though it managed to avoid subprime-related losses, raised revenue by 80 percent and grew private equity assets under management by 60 percent.
2 min read · 12 January 2013
Blackstone reported a $113.2 million loss in the third quarter stemming largely from IPO-related costs. However, its president, Tony James, remained sanguine about the firm’s performance and its ability to shift focus amid credit market volatility affecting LBOs.
2 min read · 12 January 2013
The TPG Capital-BA consortium has secured a team of banks to underwrite its bid for Spanish airline Iberia, after the chief executive of the UK airline Willie Walsh said the bid would be tabled within four to six weeks.
2 min read · 12 January 2013
Private equity icon Thomas H. Lee has said the credit crisis is ‘not a cash crisis’ but a crisis of confidence that will primarily affect the availability of debt financing for private equity deals valued at more than $1 billion.
2 min read · 12 January 2013
Bulge brackets Merrill Lynch, Citi and Morgan Stanley are looking for leadership and growth from a formerly obscure niche – alternatives, writes Amanda Janis.
2 min read · 12 January 2013
3i, the global private equity firm, remains bullish despite credit market turbulence. It argued that the doubling of its level of investment was due to an upward creep in average deal size and not to lack of investment discipline.
2 min read · 12 January 2013
TPG-affiliate ACON Investments has completed its second exit from a Latin American supermarket chain, with the sale of GBarbosa to strategic buyer Cencosud.
2 min read · 12 January 2013
The value of cancelled deals globally has broken the $200 billion mark in 2007, easily surpassing last year’s total.
2 min read · 12 January 2013
