Ken MacFadyen
The New York City Retirement Systems finds itself again dealing with turnover among its top brass, signalling that something may be amiss at the $95 billion pension.
South Korean authorities have reportedly raided the Seoul office of Lone Star Funds, seeking evidence to tie the US firm to allegations of tax evasion and embezzlement. Lone Star is just the latest US private equity firm to become the subject of a South Korean tax probe.
The California Public Employees’ Retirement System has issued two mandates seeking third-parties that could help the giant pension make its private equity portfolio more manageable.
Angelo Gordon and MTN Capital Partners have teamed up with former Duane Reade head Bruce Weitz to take over Marks & Spencer’s US grocer Kings Supermarkets in a $61.5m deal.
Cerberus Capital Management veteran Joyce Johnson-Miller and former Carlyle managing director Leslie Armitage have teamed up for a new private equity fund that will invest in debt and equity.
JW Childs and Merrill Lynch Global Private Equity completed a $1.05 billion deal to buy Advantage Sales & Marketing. Allied Capital, the company’s previous owner, realised $430m in proceeds from the sale.
Los Angeles- and New York-based Qualia Capital has agreed to take over Gaylord Films and Rysher Entertainment in a reported $100m deal. The transaction represents private equity’s continued drive into the entertainment space.
Mid-market investment bank Goldsmith Agio Helms has launched a new “lower middle market” division to represent sellers in the micro-cap space.
New York-based Fenway Partners has set a cap of $1 billion for its third fund, according to regulatory documents.
LNK Partners, an Apax Partners spinout, had to turn away investors as it hit the $400 million cap for its debut fund in just six months.