The buyout industry has been incapable of ‘using leverage sensibly’ and must support restrictions on excess LBO debt, argued Hugh MacArthur, global head of Bain & Co’s private equity practice. He was joined at PEI's Middle East Forum by Delta Private Equity's Patricia Cloherty, who noted ‘cheap debt is simply seductive, and everyone is complicit on the upside’.
2 min read · 08 February 2013
The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.
2 min read · 08 February 2013
TPG’s objection comes after Babson Capital and GSC said the proposed bankruptcy financing is unfair to first-lien lenders who do not participate in the financing package.
2 min read · 08 February 2013
The Boston-based real estate investment firm’s offer has been approved as a stalking horse bid. CrossHarbor, which has provided DIP financing to the bankrupt private members ski and golf club, previously made a reported $470m bid for the US resort in 2008.
2 min read · 08 February 2013
Fresh from raising nearly €1bn for its eighth mid-cap fund, the French private equity firm is aligning itself to take advantage of market dislocation. It is also raising its third small-cap fund.
2 min read · 08 February 2013
The Bridgeport, Connecticut-based People's United Bank has agreed a $35 million, three-year refinancing with opportunistic investor Talcott Realty. The loan is backed by the office property One Financial Plaza in Hartford.
1 min read · 08 February 2013
AREA Property Partners has teamed up with F&C REIT to buy a package of properties once owned by Dawnay Day, the property investor whose subsidiary companies were placed into administration last year.
2 min read · 08 February 2013
Cezary Podkul examines the reasons behind banks’ retreat from project finance.
2 min read · 08 February 2013
Octopus Investments has earmarked a £40m pool of capital to provide finance to small- and medium-sized businesses.
2 min read · 08 February 2013
As the UK government reveals plans to lend £2bn of public money to struggling private firms engaged in private finance initiatives, research finds that 96% of contract managers were bullish on the overall performance of PFIs in 2008.
2 min read · 08 February 2013
