Amanda Janis
TPG and Goldman have agreed to buy US wireless provider Alltel for $27.5 billion, the largest-ever private equity deal in the telecom sector.
US mid-market firm Great Hill Partners has purchased a $50 million minority stake in online ad sales rep firm Gorilla Nation. The investment follows several recent big exits in the online ad space.
Menlo Park, California-based Institutional Venture Partners has closed a $600 million fund – twice the size of its previous fund.
Activity in the electronic payment space continues with the Blackstone Group’s agreement to buy Dallas, Texas-based Alliance Data, a provider of transaction, credit, and marketing services, in a deal valued at $7.8 billion.
Canadian private equity firm Onex has joined KKR and Canadian pension giants Caisse de dépôt and CPP Investment Board in the group’s quest to acquire Canada’s largest telecom company.
Witnesses at a US House committee hearing agreed the booming private equity industry is not at fault for America’s growing divide between the haves- and have-nots. Opinions diverged, however, as to how best to address this phenomenon.
An executive of private equity-owned Dunkin’ Donuts will sit alongside a union representative, an academic and the head of a new private equity lobbying group to answer questions from US congressmen tomorrow.
Carlyle is set to become the latest private equity firm with shares of an affiliate, Guernsey-based investment company listed on Amsterdam’s Euronext exchange. It has already raised $600 million for the vehicle, and expects the public offering to raise an additional $400 million.
The Carlyle Group and Welsh Carson have agreed to sell USIS, a provider of “pre-employment screening solutions”, to Providence Equity Partners for $1.5 billion.
Apollo has upped its bid for EGL in response to an increased offer from a rival consortium led by EGL’s founder and chief executive, and backed by Centerbridge and Woodbridge. Apollo has already sweetened its offer on four previous occasions – and sued EGL, its founder and key executives – in its fight for the transport and logistics firm.