Returns are strong, financing options are growing and the first mega-deals are in the bag. But as the sun continues to shine on Australia's private equity market, some practitioners are betraying twinges of doubt about the future. Andy Thomson reports.
Cerberus Capital Management has emerged to become one of the most active private equity investors in the world. But the firm's high-profile deals, such as GMAC, contrast with an extremely private culture. How long can the firm avoid the spotlight? Dave Keating reports.
When Miramax founders Bob and Harvey Weinstein launched their new studio, they benefited from increased investor interest in the movie business - as well as their own reputations as hitmakers. By Aaron Lovell.
Private investment fund managers are flocking to the movie industry because they see it as – get this – a business with manageable risk. Are these GPs wise to the future of filmed entertainment, or have they simply “gone Hollywood”? David Snow reports.
Michael Smith, chairman of CVC Capital Partners, likes to keep his cards close to his chest and has so far minimised contact with the media. In August, he met for a rare interview with Philip Borel to discuss the prospect of a downturn, staff compensation, public relations and the rise of listed private equity.
Neither the telecoms sector nor European venture capital have had things easy in recent years – but the two have come together to produce a winning deal.
Interest rates might cool the fevered debt market, but the IRS could freeze it.
Having agreed a $375 million deal with Anglo-US investment manager AMVESCAP, turnaround specialist WL Ross is now a captive fund.
Founded in 2003 by former executives of Franchise Finance Corporation of America, Spirit Finance is a publicly listed REIT focused on sale-leasebacks for the retail, service and distribution industries. With balance sheet assets of approximately $2.5 billion, Spirit recently completed the largest retail sale-leaseback ever, the $815 million acquisition of the real estate assets of ShopKo, the retailer recently acquired by Sun Capital Partners. Here, Christopher Volk talks about the ShopKo deal, the economic environment for retailers and why corporate capital efficiency may be the next big wave in corporate America.
Over the past few years, turnaround investor Sun Capital Partners has been involved with a number of high-profile retail buyouts, including Mervyns and the Pamida and ShopKo chains, as well as specialty retailers like Wickes Furniture, Mattress Firm and Nationwide Furniture. But as Gary Talarico, head of the Boca Raton, Florida-based firm's New York office, is quick to point out, the firm doesn't seek out retail or real estate deals. Rather, the firm invests in distressed companies and looks to use the company's property in the recovery.