Four minority shareholders in the Spanish toll road operator argue that tendering their shares to majority owner Ferrovial in a stock swap would give them exposure to unwanted businesses, geographies and risks. Analysts say the buyout would help the Spanish infrastructure manager strengthen its cash position amid ongoing deleveraging efforts.
4 min read · 08 February 2013
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.
2 min read · 08 February 2013
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
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
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
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
The European venture firm collected commitments from LPs in just three months for its latest early stage fund. It is the same size as its 2007 predecessor, which has been nearly fully deployed alongside a growth capital fund.
2 min read · 08 February 2013
The UK buyout house has booked a €1.3bn impairment – half the value of the equity investment – on the 2007 deal. It will also return €80m of carry to investors, because according to chief executive Guy Hands, 'our investors have suffered and therefore our rewards should suffer'.
2 min read · 08 February 2013
Richard Cotton, a 13-year stalwart of real estate investment banking at JP Morgan Cazenove in London is leaving to join Greenwich-based Forum Partners.
1 min read · 08 February 2013
