Suzanne Weinstock
The JPMorgan private equity group’s investment in Open Range Communication has satisfied a requirement for private financing that will allow the company to access $267m in US Government loans.
After rebuffing the San Francisco-based firm’s $13 per share offer last summer, Aladdin Knowledge Systems has accepted an offer of $11.50 per share.
The Quadrangle Group co-founder is reportedly the leading candidate for an appointment by Barack Obama to a US government position overseeing the restructuring of the US auto industry. General Motors and Chrysler last month received a $17.4bn government rescue package.
The Ron Burkle-owned private equity firm has bought a 7% stake in Whole Foods two months after Leonard Green & Partners purchased a 17% ownership stake. The high-end grocery chain has struggled lately due to declines in consumer spending.
The Canadian pension’s private equity group has agreed to back BMV Holdings, which was launched by a private equity consortium following a wireless spectrum auction last summer.
The South Carolina theme park, backed by publicly listed Israeli holding companies Africa Israel Investment and Polar Investments, failed to find a buyer while in bankruptcy and will liquidate only nine months after opening.
Aisling Capital has closed its third fund with commitments from the New York State Teachers' Retirement System, the Pennsylvania Public School Employees’ Retirement System and the California Public Employees' Retirement System.
Entertainment company Macrovision has opted for a sale of similar value to strategic buyer Lionsgate as opposed to the JPMorgan unit.
The Ron Burkle-owned investment firm has acquired an 8.3% stake in Barnes & Noble whose stock the firm views as undervalued. Barnes & Noble competitor Borders Group has hired the founder of private equity firm Wildridge Capital Management as its new head.
Average high bids for private equity fund interests fell to 61% of NAV in the five months through November 2008, driven by stale holding values, according to Cogent Partners.