David Snow

The California bank, which was taken over by the government earlier this month, approached several private equity firms in search of rescue capital but found no takers.

Six months after closing a $3.6bn fund, the New York buyout firm has agreed to buy Harvey Gulf International Marine, which provides services to the oil industry in the Gulf of Mexico.

After just four months, the veteran New York private equity firm has drawn significant investor commitments for its eleventh fund.

The global financial services firm will acquire control of the India-focussed fund of funds business of San Francisco investment bank Thomas Weisel.

An Ernst & Young study charting 100 recent exits finds that private equity-backed companies gain value at double the rate of public-company counterparts, statistics that will bolster claims that the private equity ownership model is superior to that of public ownership.

As the firm looks for ways to further bulk up and diversify its assets under management, Carlyle is also seeking to strengthen economic ties with energy firm Riverstone.

The majority of limited partners in private equity expect a 15-percent-or-better net IRR from private equity funds launched in the current environment, according to a report produced by PEI Media and trade association ILPA.

The PEI 50 methodology involves rigour, judgment and dealing with non-transparency.

Nearly half of limited partners will decrease their target exposures to US private equity as a percentage of their overall private equity allocations, according to a new survey from PEI Research and the Institutional Limited Partners Association.

According to the PEI 50, a proprietary ranking of private equity firms unveiled today, the 50 largest private equity firms in the world have together raised $810bn over the last five years. At the top of the list are Carlyle, Goldman Sachs, TPG, KKR and CVC.