George Anson, HarbourVest’s managing director in Europe, has warned managers not to be complacent in the face of heightened interest in the asset class from regulators, legislators and unions.
Park Square Capital has tapped three of its existing investors to raise a credit opportunities fund, which could have firepower of up to €1.25 billion and will work in complement to its existing mezzanine fund.
Pacific Equity Partners will not give up on Flight Centre, an Australian travel agency it failed to acquire via a public-to-private process just a few months ago. The Australian buyout firm is now offering to acquire a 30 percent interest in the company via a proposed joint venture structure.
Alinta is backing a $6.66 billion takeover offer from Babcock & Brown instead of a rival bid by Macquarie, as the Australian energy utility is convinced the former offers a “high degree of completion certainty.”
Booming appetite among investors for exposure to credit instruments is fuelling growth at Intermediate Capital Group, one of the largest CDO fund managers. It recruiting to cope with demand.
Taking advantage of the downturn in the sub-prime market, the Dallas-based private equity firm has acquired Accredited Home Lenders for $400m.
New York-based hedge fund Highbridge Capital Management has reportedly hired former Goldman Sachs director Scott Kapnick to launch its private equity business. It is the latest example of the increasing convergence between the two asset classes.
Orlando Italy’s first fund raised €180million ($244 million) exceeding the initial target of €150m.
Alliance Boots deputy chairman Stefano Pessina is set to land a windfall of more than £600 million if his take-private bid for the group is accepted – roughly the same amount that may be required to plug the company’s current pension deficit.
Weil, Gotshal & Manges offers a jurisdiction by jurisdiction review of key aspects of Asian insolvency laws currently in place, and some noteworthy changes on the way.