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Private Equity

  • November 17, 2011

    Virgin Money Snaps Up UK-Owned Bank For £747M

    U.K.-owned Northern Rock PLC is returning to the private sector after nearly four years in public care, with Richard Branson's Virgin Money Holdings Ltd. paying £747 million ($1.2 billion) for the bank in a private equity-backed deal, the parties announced Thursday.

  • November 16, 2011

    China's Remedy In Private Equity Deal Shows US Influence

    The Chinese Ministry of Commerce's recent decision that a French private equity fund must sell a 30 percent minority stake in one textile machinery company in order to acquire another machinery maker provides the first indication that the antitrust watchdog is following the lead of its U.S. and European counterparts in examining the anti-competitive effects of partial equity holdings, attorneys say.

  • November 16, 2011

    Greenberg Traurig Helps Mast Snag DC Hotel

    Private equity firm Mast Capital Inc. added a boutique hotel in Washington to its portfolio and tapped Hersha Hospitality Management to run the property and oversee an upgrade, the buyer announced Wednesday.

  • November 16, 2011

    Accel Closes $155M Fund With Eye On Indian Startups

    Accel Partners Management LLP, the venture capital firm that made early bets on Facebook Inc. and Groupon Inc., has closed a $155 million fund that will dole out seed and early-stage investments in India, the firm announced Wednesday.

  • November 16, 2011

    JC Flowers Defends Role In Failed $104M Insurer Buyout

    Private equity firm J.C. Flowers & Co. told a New York appeals court Wednesday that Metalmark Capital Holdings LLC derailed a $104 million stock purchase agreement of an insurance company with its "pedantic lawyers' fight" against Connecticut insurance regulators.

  • November 16, 2011

    Shale Game Has PE Rushing To Boost Know-How

    Shale deposits, with their promise of lucrative natural gas reserves, have proven to be the next hot investment for private equity, and firms are playing catch-up in developing the expertise needed to land the best deals.

  • November 16, 2011

    Q&A With Hogan Lovells' Robert Welp

    Without significant reforms to simplify “going private” transactions for mid-market public companies, we will continue to see inefficiencies in the market, says Robert Welp, a partner with Hogan Lovells LLP specializing in advising private equity funds.

  • November 16, 2011

    Hussey Copper Cleared For $108M Asset Sale To Patriarch

    A Delaware bankruptcy judge gave Hussey Copper Corp. the green light on Wednesday to sell its assets to private equity firm Patriarch Partners LLC for $107.8 million, overruling objections from two disgruntled bidders claiming they were prematurely ejected from the auction.

  • November 16, 2011

    PE Firms Hit With $104M Suit Over Greek Tragedy

    Noteholders of Greek company Hellas Telecommunications Sarl on Tuesday sued private equity firms TPG Capital LP and Apax Partners LLP to recover more than €77 million ($104 million) they pocketed while allegedly driving the telecom into insolvency.

  • November 16, 2011

    Seyfarth Shaw Adds Ex-Rutan & Tucker Corporate Atty

    Seyfarth Shaw LLP has added a former Rutan & Tucker LLP attorney with experience in private equity and mergers as it looks to expand its corporate department on the West Coast, the firm announced last week.

  • November 16, 2011

    Latham Helps Panda Power Switch On $420M Maiden Fund

    Panda Power Funds, the Dallas-based private equity firm keen on natural gas and solar power projects, said Wednesday it has successfully ended its first foray into private equity fundraising, closing its $420 million Panda Power Generation Infrastructure Fund.

  • November 15, 2011

    Prepared-Foods Co. Cleared To Unload Assets For $70M

    A Delaware bankruptcy judge on Tuesday gave Chef Solutions Holdings LLC the go-ahead to sell its assets for nearly $70 million to a joint venture between private equity firm Mistral Capital Management LLC and rival Reser’s Fine Foods Inc.

  • November 15, 2011

    Tilton's Patriarch Snags Hussey Copper For $107M

    Patriarch Partners, the buyout firm of distressed debt mogul Lynn Tilton, scooped up Hussey Copper Inc. for $107.8 million Monday in a nine-hour, 34-round auction, according to an adviser to the sale, though objections to the bid started flowing in immediately.

  • November 15, 2011

    LinkedIn Announces Offering Of 8M Shares

    Professional networking site LinkedIn Corp. will offer 8 million shares of common stock, including 6.7 million held by current shareholders and private equity firm Bain Capital LLC's entire interest, the company said Monday.

  • November 15, 2011

    Altus Buys Aircraft Tool Co. With New $200M Fund

    Altus Capital Partners LLC is putting its new $200 million fund to work with the purchase of Models & Tools, whose tooling systems are used to build commercial planes, fighter jets and spacecraft, the private equity firm announced Tuesday.

  • November 15, 2011

    GSC Can Get Black Diamond Info Over Ch. 11 Plan Voting

    A New York bankruptcy judge on Tuesday allowed GSC Group Inc.'s Chapter 11 trustee to interview employees of Black Diamond Capital Management LLC about whether the private equity firm crossed the line with its supposed crusade to derail his reorganization plan.

  • November 15, 2011

    Dechert Helps Centre Partners In Smile Fixer-Upper Buy

    Private equity firm Centre Partners Management LLC has acquired a leading provider of veneers and other cosmetic dental products, promising more acquisitions en route to international expansion, the firm announced Tuesday.

  • November 15, 2011

    Clyde Blowers Buys Wind Turbine Co. Moventas For $135M

    U.K.-based private equity investor Clyde Blowers Capital will buy Finnish wind turbine and industrial gear manufacturers Moventas Wind Ltd. and Moventas Santasalo Ltd., whose parent company filed for bankruptcy earlier this year, for €100 million ($135.3 million), the companies said Tuesday.

  • November 15, 2011

    Paul Weiss Reps Caesars In Revived $50M IPO Plan

    Caesars Entertainment Corp., the casino operator owned by private equity firms TPG Inc. and Apollo Management LP, will make an initial public offering of up to $50 million, nearly a year after it scrapped plans for a much larger IPO, the company announced Tuesday.

  • November 15, 2011

    McGuireWoods Aids Falfurrias' Buyout Of Stock Firm

    Falfurrias Capital Partners, a private equity firm founded by two Bank of America Corp. luminaries, has acquired a controlling stake in investment research and money management products provider Dorsey Wright & Associates, the buyer announced Tuesday.