Duke Street Capital’s sixth fund has broken the €1 billion mark, providing some welcome news to the buyout firm after a summer where it has had to endure some negative coverage.
2 min read · 12 January 2013
US buyout firm TPG Capital has the largest number of deals outstanding at the moment, according to data provider Dealogic. A source familiar with the firm’s TXU transaction said the buyout firm was not experiencing problems on the deal.
1 min read · 12 January 2013
Boutique investment bank Augusta & Co believes the credit markets are in a much healthier state than recent coverage might suggest, arguing that the current jitters are due to temporary factors, rather than underlying weakness.
3 min read · 12 January 2013
As ratings agency Standard & Poor’s criticises covenant loose loans for being covenant-lite by the backdoor, a senior banker tells Toby Lewis cov-lite loans will become extinct.
4 min read · 12 January 2013
A senior leveraged buyout banker has warned cov-lite deals will cease to exist as lenders will refuse to accept loans on terms offered by buyout firms. Mid-market firms are seeing deals fall through as creditors push the price of debt back up.
2 min read · 12 January 2013
In an unprecedented step Blackstone has revealed its partners’ tax liability in a rebuttal of a US newspaper report.
3 min read · 12 January 2013
The JP Morgan-led group of banks that underwrote $10 billion of debt related to Cerberus’ acquisition of Chrysler has sold $6 billion of the debt at 95 percent of par.
2 min read · 12 January 2013
The underwriting banks syndicating the Alliance Boots debt package have pulled the second lien tranche of the debt package, just a week after they were forced to postpone syndication of the senior debt for the deal.
1 min read · 12 January 2013
Richard Lambert, the head of the Confederation of British Industry, a trade body that has been attracting support from some of Europe’s large buyout firms, has criticised private equity’s public relations efforts.
2 min read · 12 January 2013
London-based services group Savills has acquired New York real estate investment bank Granite Partners for $54m.
1 min read · 12 January 2013
