David Snow
The beleaguered NYSE-traded affiliate of KKR will raise roughly $191 million through the sale of seven unidentified direct stakes in portfolio companies amid ‘disruption’ in the mortgage market.
Several of the world’s biggest private equity firms are already consulting with LPs about their next funds, but uncertainties about the pace of dealmaking and size of allocations are hampering these efforts.
The US presidential candidate still has major stakes in Bain Capital funds, although these have been placed in a blind trust, according to recent campaign disclosures.
The affiliate of publicly traded buyout firm American Capital will expand its European franchise beyond its initial London and Paris footholds.
Harry Clark, a veteran lobbyist and communications counselor to industry and government officials, is helping America’s biggest buyout firms establish an advocacy group for the private equity industry.
Michael Gross, a founding partner of New York-based Apollo Management, will step down from the firm to pursue an ‘entrepreneurial’ project.
KPS Special Situations and Pegasus Partners have already recouped 1.5x their investment in Genesis Worldwide thanks to a unit sale to Mitsubishi-Hitachi Metals Machinery.
New York-based Solera Capital has bolstered its Homegrown Naturals organic food platform with the purchase of Annie’s Naturals, a maker of salad dressings and condiments.
The New York and San Francisco firm will enjoy a $337.5m recapitalisation of its defense and homeland-security portfolio company, ILC Industries, returning 1.5 times the equity invested by the buyout firm in 2003.
Harris Williams, the Richmond, Virginia investment bank that has captured a major portion of the US middle-market buyout business, has agreed to be acquired by PNC Financial Services Group, which also owns BlackRock.