The luxury yacht-maker will continue trading under the ownership of founder Norberto Ferretti and its lenders. Candover and Permira, who had until recently owned over 60% of the firm, are out.
The Blackstone spin-out has already held a first close on its second fund to focus on direct venture capital secondaries. It recently acquired stakes in nine new companies including Facebook, Zappos and eHarmony.
The UK’s motorway widening project has been oversubscribed for bank financing, removing the need for government funding.
The turnaround specialist will work with private equity firms to restructure struggling portfolio companies.
Lower fees, smaller funds and lots of GP communication top LP wish lists, writes Amanda Janis.
Despite glimmer of hope that the commercial real estate debt and equity markets will improve over the coming year, property CEOs warn the TALF and PPIP lending programmes must urgently unveil their plans to help real estate.
Retail REIT General Growth has collapsed, and private equity real estate is best positioned to pick up the pieces.
Details have been revealed of Carlo Puri Negri’s compensation deal for leaving Pirelli Real Estate as a board director two years earlier than originally planned. As well as a €9.4 million pay off, he will get €3 million over two years for not competing against the company and €800,00 a year for a consultancy role.
The US’ second largest mall owner, burdened with $27.3bn of debt, has ‘reluctantly’ filed for Chapter 11 bankruptcy protection after unsuccessfully trying to refinance its loans out of court. The REIT has obtained $375m of DIP financing from investment firm Pershing Square to continue operations.
The UK government's development-focused fund of funds is talking to two Southern African banks about the creation of debt funds to help private businesses in the region, says chief executive Richard Laing.