Asia’s private equity report card for the first half of this year is out: fundraising has surpassed last year’s record levels but transaction value has fallen compared to the first six months of 2006.
2 min read · 12 January 2013
US regional airline Midwest has turned down discount airline AirTran’s buyout offer in favour of a higher, $400m bid by TPG Capital and Northwest Airlines. A formal agreement is expected in days.
3 min read · 12 January 2013
Limited partners and their advisors have conflicting views on the $21.7 billion Blackstone fund closed this week, disagreeing on whether its record-setting size means more problems or advantages for LPs.
2 min read · 12 January 2013
American Capital has hired Joel Houck to develop a new closed-end fund, drawing on his experience in specialty finance and commercial banking.
1 min read · 12 January 2013
Alchemy Partners is backing an £80 million buyout bid for UK-listed recruitment group Imprint. The company’s shares jumped 20 percent on the news.
2 min read · 12 January 2013
Despite the ongoing problems in the debt markets, Inflexion Private Equity has successfully refinanced the senior debt of the UK-based Ilchester Cheese Company at 2.5 times EBITDA.
1 min read · 12 January 2013
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
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
