Christopher Witkowsky

Edward Liddy, an operating partner with the New York buyout firm, is expected to return to Clayton Dubilier when he is finished with his duties at AIG, which yesterday entered into an $85bn government bailout. Liddy has been with the firm for about a year.

Amid the turmoil of its parent company, AIG's investment arm continues its Asian expansion with the hiring of Michael Chae.

The investment is part of the Egypt-based firm’s expansion across the Middle East and North Africa, following the hiring of three former Goldman execs in July.

The investment firm, which counts the National Commercial Bank of Saudi Arabia as one of its stakeholders, plan to invest $2bn in the region.

The failed bid marks the second time this year that a private-equity backed rescue of a struggling UK-based mortgage lender has fallen apart.

The private equity firms are reportedly in discussions to buy Lehman’s investment management unit, which includes its $30bn private equity portfolio. The price of the investment management arm, around $5bn last week, may come down after Lehman’s bankruptcy filing today.

The New-York based private equity firm continues to invest in the energy sector. Its growth capital investment in Competitive Power Ventures marks more than $3bn invested in energy companies worldwide.

The New York-based firm has hired Gene Wolfson, former head of Citi's distressed equity trading group.

The acquisition of Change Capital comes after a dispute in 2007 between the fund’s owner, the Halley Family of France, and its manager, Luc Vandevelde, former chairman of Carrefour.

The financial services private equity firm is working with China's sovereign wealth fund and the major US bank on a joint bid, according to a report from the Financial Times.