CIT Capital Finance has delivered financing for the Rutland Partners-led acquisition of Pulse Home Products while Electra Private Equity has carried out a third refinancing on Allflex.
Italian conglomerate De Agostini has taken a minority stake in Palamon Capital Partners-backed loan provider Sigla Luxembourg, as the relatively undeveloped personal credit market in Italy continues to grow.
The listed debt and equity provider has reported strong quarterly results and increased its dividend expectations, arguing that its “one stop buyout” model gives it a crucial advantage in the current market.
Soon after PEO revealed that the Virgin Group is launching its first institutional buyout fund, its chief executive has reportedly outlined plans to pursue a ‘branded venture capitalism’ strategy, as it looks to take on large buyout firms like Blackstone and Apax.
Emap, the media group that is currently being circled by various private equity firms, has paved the way for its forthcoming £2 billion sale by offering its shareholders a way of minimising their potential tax bills.
Lehman Brothers’ listing of a fund of funds vehicle has attracted significant investor demand, including an 84 percent allocation of its greenshoe, showing that successful fundraising is still possible despite the recent volatility in the public markets.
The Carlyle Group has made three senior hires into its recently-formed Asia leveraged finance team. The division, which is based in Hong Kong, is headed by Eric Mason who joined the buyout group in May from JP Morgan.
The flurry of Refco litigation continues, as TH Lee has now filed suit against Grant Thornton, the independent auditor hired to perform due diligence on Refco before the 2004 merger agreement. The private equity firm alleges the auditor failed to notify it of suspicious transactions on Refco’s balance sheet.
French bank Société Générale’s failure to syndicate a £330 million loan backing Esporta pulled the plug on the property tycoon Simon Halabi’s acquisition vehicles. Halabi is considering suing Duke Street Capital, Esporta’s previous owner, and the prior management of the company.
Blackstone and Fortress are taking a beating on Wall Street today.