Suzanne Weinstock
The private equity unit of Brookfield Asset Management bought Canadian-based Maax from a consortium of private equity firms that took the company private in 2004. Maax filed for bankruptcy in July after collapsing under the weight of its debt load.
US presidential candidate John McCain has come under fire by one US labour union for his ties to KKR co-founder Henry Kravis, but recent data shows Democratic rival Barack Obama has the most financial support from the private equity and venture capital industries.
Jay Light, former professor to Steve Schwarzman and a director of university endowment Harvard Management Company, has joined Blackstone’s board of directors. Separately, Blackstone has been named as an advisor in the $85bn bailout of AIG.
The Silicon Valley-based venture firm has hired the former CEO of enterprise software company Movaris to bulk up the firm’s supply of financial and operational expertise.
Should the insurance giant seek liquidity through the sale of its $758bn asset management arm, insiders say it will likely be slowed by the US government's newly acquired controlling stake, as well as issues including the mixture of AIG balance sheet capital with client funds.
MatlinPatterson co-founder Mark Patterson yesterday characterised today's economy as the most troubled since the period following the US stock market crash in 1929. Operational concerns are now second to broader financial markets considerations when conducting due diligence, he said.
Already active in Latin America and Central and Eastern Europe, the Dutch limited partner is looking to take advantage of the investment opportunity in Africa, CEO Volker Doeksen said today in New York. The Netherlands-based investor pursues fund, secondary, co-investment and mezzanine opportunities.
The New York private equity firm, currently raising $4bn, has agreed to commit $130m to Interstate Bakery, maker of iconic US food brands including Wonder Bread and Twinkies. Three investment firms have agreed to loan the company $339m.
Recent deals and proprietary PEI research show the asset class continues to bet on pockets of the retail sector, despite gloomy consumer confidence, writes Suzanne Weinstock.
Leveraged loans from buyouts are selling at a steep discount. According to reports, KKR and Permira have purchased more than €100m of portfolio company ProSiebenSat.1’s leveraged loans and banks are struggling to offload Clear Channel debt.