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Private Equity

  • March 21, 2012

    Bernanke, Geithner Warn Against Europe-U.S. Comparison

    U.S. Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke cautioned members of a U.S. House of Representatives committee Wednesday that taking drastic austerity measures to alleviate government debt too quickly would go against the lessons learned from Europe's financial crisis.

  • March 21, 2012

    Apollo Nabs Irish Credit Card Biz As BofA Trims Fat

    Apollo Global Management LLC said Wednesday it has agreed to buy Bank of America Corp.'s Irish credit card business, seven months after buying the bank's credit card operations in Spain.

  • March 21, 2012

    Hartford Plans Business Overhaul Amid Paulson Pressure

    Hartford Financial Services Group Inc. on Wednesday announced plans to quit its individual annuity business and potentially sell its individual life, retirement and broker-dealer businesses amid calls from its largest shareholder, hedge fund founder John Paulson, for a structural shake-up.

  • March 21, 2012

    Morgan Stanley PE Invests $300M In Chinese Chemical Co.

    Morgan Stanley's $2 billion Asia-focused private equity fund has acquired a minority stake in Chinese chemical manufacturer Tianhe Chemicals Group for $300 million, the companies said in a joint statement Wednesday.

  • March 21, 2012

    Wall Street Group Urges Congress To Delay Volcker Rule

    A Wall Street lobbying group on Wednesday urged U.S. congressional lawmakers and federal regulators to delay the implementation of the Volcker Rule limiting proprietary trading by banks, saying banks could halt their loan securitization activities due to uncertainty over their regulation under the rule.

  • March 21, 2012

    Dechert Adds M&A Specialist To New Frankfurt Office

    Corporate law specialist Sven Schulte-Hillen has joined Dechert LLP as a partner, the international law firm announced Monday, boosting the ranks of the company's newly formed Frankfurt office and giving it veteran talent in the worlds of private equity and finance.

  • March 21, 2012

    GSK, J&J Back New $198.5M Incubator Fund

    Pharmaceutical giants GlaxoSmithKline PLC and Johnson & Johnson have put their weight behind a new €150 million ($198.5 million) venture capital fund promoting life science startups, in a rare step that will give them an early peek at up-and-coming new drugs, Index Ventures announced Wednesday.

  • March 20, 2012

    Vista Affiliate's $250M Buy Of CDC Software Gets Nod

    A Georgia bankruptcy judge on Tuesday approved CDC Corp.'s sale of its 87 percent stake in CDC Software Inc. to Vista Equity Partners affiliate Archipelago Holdings Inc. for nearly $250 million.

  • March 20, 2012

    Suit Over 'Hogan's Heroes' Rights Heads To Arbitration

    A California federal judge on Monday ordered Bing Crosby Productions LLC, Rysher Entertainment Inc. and private equity firm Qualia Capital LLC to go to arbitration with the Writer's Guild of America and two of its members to determine who owns movie rights to the 1960s sitcom "Hogan's Heroes."

  • March 20, 2012

    Tech Co. Didn't Flout Exclusivity In Citigroup Sale, Judge Says

    A New York federal judge has tossed a suit alleging Ness Technologies Inc. breached an exclusivity contract with private equity firm Vector Capital Corp., ruling Friday that Ness properly negotiated a $307 million sale to a Citigroup Inc. unit after the end of Vector's exclusive negotiating window.

  • March 20, 2012

    Fox Paine Says Former Exec Gave Fund Stake To Rival

    Private equity firm Fox Paine Capital International GP LP sued a former executive in Texas court Tuesday, saying he violated partnership agreements by surreptitiously transferring his interest in a firm fund to a former Fox Paine partner operating a competing business.

  • March 20, 2012

    Riverkeeper Backs Blackstone’s $2B Canada-NYC Power Line

    Riverkeeper Inc., the influential New York environmental group, came out in support Monday of a planned settlement that would allow a unit of Blackstone Group LP to build an estimated $2 billion, 330-mile underwater cable that would bring hydroelectric power from Quebec to New York City.

  • March 20, 2012

    CVR Energy Rips Icahn's 'Detrimental' $2.6B Takeover Bid

    Texas oil and gas company CVR Energy Inc. hurled another public jab Monday at investor Carl Icahn in a bitter battle over his $2.6 billion takeover bid, calling his wooing of shareholders a distracting and detrimental campaign.

  • March 20, 2012

    Insight Affiliate Forks Over $192M For Air Filter Maker

    An affiliate of private equity firm Insight Equity Holdings LLC has inked a $192 million deal to acquire Flanders Corp., one of the largest manufacturers of air filters and air-handling and air-containment systems in North America, Flanders said Monday.

  • March 20, 2012

    Perkins Lures K&L Finance, Restructuring Specialist

    Perkins Coie LLP has bolstered its Chicago-based business practice with the addition of a K&L Gates partner specializing in debt finance and restructuring transactions for private equity funds, financial institutions and public and closely held companies, particularly in media and telecom, the firm announced Monday.

  • March 19, 2012

    Gibson Dunn Aids Williams In $2.5B Caiman Energy Unit Buy

    Williams Partners LP has agreed to buy private equity-backed Caiman Energy’s unit Caiman Eastern Midstream LLC for $2.5 billion as part of its ongoing bid to pursue liquids-rich natural gas in the Marcellus Shale, the partnership said Monday.

  • March 19, 2012

    AboveNet Goes Private, Lures PE Backers In $2.2B Deal

    AboveNet Inc., an operator of fiber optics networks, has agreed to be taken private by Zayo Group LLC in a $2.2 billion deal that includes equity stakes by buyout firms GTCR LLC and Charlesbank Capital Partners LLC, the company said Monday.

  • March 19, 2012

    Jones Day Takes 3 From Foley's Private Equity Team

    Jones Day has dipped into Foley & Lardner LLP's private equity and venture capital group to find three partners to supplement its own corporate practice, the firm announced Monday.

  • March 19, 2012

    United Retail Landlords Balk At Proposed Sale

    The landlords of properties leased to women's clothing retailer United Retail Group Inc. objected Friday to a proposed deal with stalking horse bidder Versa Capital Management, demanding that the stores continue to comply with the obligations in their leases before a buyout is approved.

  • March 19, 2012

    Investcorp Snags Student Assessment Co. From PE Firm

    London-based alternative investments specialist Investcorp International Ltd. announced Monday it has picked up a British student assessment company from private equity firm Veronis Suhler Stevenson for an undisclosed amount.