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Private Equity

  • October 4, 2011

    Sealing The Deal: Paul Hastings Becomes King Of FDIC Auctions

    Since the Federal Deposit Insurance Corp. began a new program to sell off failed bank assets in 2008, no firm has handled more of these deals than Paul Hastings LLP, helping private equity clients snap up troubled loan portfolios in the complex, highly regulated landscape of post-financial crisis asset auctions.

  • October 4, 2011

    Blackstone IPO Case Could Yield More PE Disclosures

    The U.S. Supreme Court's refusal to hear The Blackstone Group LP's challenge to a shareholder lawsuit alleging material omissions in the run-up to its $4.5 billion initial public offering could lead to enhanced disclosures when private equity firms go public in the future.

  • October 4, 2011

    Bug Music CEO Fails To Block $300M BMG Merger

    A Delaware court refused Friday to grant a temporary restraining order that would have blocked the $300 million sale of Bug Music Inc. to BMG Rights Management LLC in a lawsuit by Bug Music's CEO against the company's private equity owners.

  • October 4, 2011

    Paper Co. NewPage Wins $600M DIP Loan

    A Delaware bankruptcy judge on Tuesday gave final approval to a $600 million debtor-in-possession loan for private equity firm-owned paper company NewPage Corp., despite objections from unsecured creditors that the order improperly hands additional collateral to secured lenders.

  • October 4, 2011

    PE Firm Plaintiff Drops Out Of Madoff Feeder Suit

    A New York federal judge on Tuesday approved the voluntary dismissal of private equity firm AAC Investment Inc. as a named plaintiff in a proposed class action over investments in feeder funds to Bernard Madoff's Ponzi scheme due to serious health issues for the managing family.

  • October 4, 2011

    PE Firm To Buy Ageas' German Life Insurance Unit

    Belgian insurer Ageas Insurance International NV announced Tuesday that it would sell its German life insurance business to private equity firm Augur Capital Partners GmbH & Co. KG for an undisclosed amount.

  • October 4, 2011

    CLSA Unit Pays $22M For Stake In Indian Education Co.

    The private equity arm of investment group CLSA Asia-Pacific Markets announced Tuesday it had paid $22 million for a minority stake in Indian education company Resonance Eduventures Private Ltd. in an attempt to profit from India's education boom.

  • October 4, 2011

    New Haynes & Boone Partners Cater To Investors

    Haynes and Boone LLP said Monday it had lured partners from Orrick Herrington & Sutcliffe LLP and Bryan Cave LLP to expand the firm's corporate and capital markets practice in counseling private equity funds, hedge funds and other institutional investors.

  • October 4, 2011

    Ontario Pension Fund Launches Venture Capital Arm

    The Ontario Municipal Employees Retirement System said Tuesday it was getting into the venture capital game with the launch of a funding arm to support Canadian entrepreneurs.

  • October 4, 2011

    Cerberus Forges $400M Investment Deal With Turkish Bank

    Private equity giant Cerberus Capital Management LP is keying in on the Turkish market and has teamed up with Garanti Bank to invest $400 million in Turkey as a prelude to the creation of a $1 billion jointly managed fund next year, the parties announced Tuesday.

  • October 4, 2011

    First Reserve Invests $399M In Spanish Energy Co.

    Spanish energy plant developer Abengoa SA said Tuesday it had agreed to sell €300 million ($399 million) in shares to U.S. private equity firm First Reserve Corp. to raise capital and form a partnership with the energy-focused investor.

  • October 4, 2011

    Q&A With Bracewell & Giuliani's Robb Tretter

    The primary area requiring reform in the distressed private equity space involves the parameters around the sale of assets in a bankruptcy. For instance, recently, a split in the circuits has developed as to whether a secured creditor must be afforded the right to credit bid their debt if assets are sold pursuant to a plan of reorganization, as opposed to a 363 sale, says Robb Tretter, a partner with Bracewell & Giuliani LLP specializing in advising private investment firms, corporations and financial institutions.

  • October 4, 2011

    Alinda Capital Portfolio Co. Buys Cambridge Water

    South Staffordshire PLC, a British water company owned by infrastructure-focused private equity firm Alinda Capital Partners Ltd., said Tuesday it bought Cambridge Water PLC for an undisclosed price from HSBC Bank PLC, which had purchased the company just weeks ago.  

  • October 3, 2011

    Judge Stands Behind Yellowstone Club's Ch. 11 Plan

    A Montana bankruptcy judge on Monday upheld his decision to confirm Yellowstone Mountain Club LLC's reorganization plan, saying parties affected by a planned $115 million sale of the resort club to a private equity firm had received proper notice of the deal.

  • October 3, 2011

    Cargill Hedge Fund Buys Stake In AgriNurture For $30M

    Cargill Inc. subsidiary Black River Asset Management LLC will acquire 28 percent of Philippine fruit wholesaler AgriNurture Inc. for $30 million, AgriNurture said Friday in a disclosure to the Philippine Stock Exchange.

  • October 3, 2011

    Equity Cos., Hunton & Williams Win Frac Sand Row

    Minerals Development & Supply Co. Inc. lost two suits Friday in Wisconsin federal court targeting Superior Silica Sand LLC, Hunton & Williams LLP and the two private equity firms that own Superior over a supply contract for oil and gas mining materials.

  • October 3, 2011

    Innkeepers Creditors Seek Role In Suit Over Cerberus Bid

    Unsecured creditors of Innkeepers USA Trust said Wednesday that they want to intervene in an upcoming trial in New York bankruptcy court over whether a Cerberus Capital Management LP unit and Chatham Lodging Trust improperly torpedoed a $1.1 billion deal to buy 64 properties.

  • October 3, 2011

    Paul Weiss Helps CI Capital Nab Public Safety Gear Co.

    Private investment firm CI Capital Partners announced Monday that it would buy Galls LLC, which sells public safety officer uniforms and gear, from professional services company Aramark Corp. for an undisclosed amount.

  • October 3, 2011

    Electra Picks Up Insurance Firm Davies For $93M

    Private equity firm Electra Partners said Monday it had paid £60 million ($92.7 million) for insurance services company Davies Group in a move to expand the range of the fund manager's business holdings.

  • October 3, 2011

    High Court Turns Aside Blackstone Cert Bid In IPO Case

    The U.S. Supreme Court on Monday refused to hear The Blackstone Group LP's challenge to a lawsuit claiming the private equity giant failed to disclose material information to investors in connection with its $4.5 billion initial public offering.