Bernard Vaughan
The Blackstone Group is notably less bullish on large deal activity and the economy than its Washington, D.C.-based rival The Carlyle Group. The disparity in confidence reflects that the economic recovery is sending mixed messages to two of the largest and most respected global investment firms, which together manage about $235 billion. Carlyle closed two […]
North Castle Partners is the winner of our Turnaround of the Year award for its resuscitation of Atkins Nutrional Holdings Inc. Atkins, of course, is the purveyor of the meat-heavy carb-light diet that was all the rage last decade, causing restaurants to waste a whole lot of burger rolls and driving a wedge between people […]
New Mountain Capital is in talks to buy NuSil Technology LLC, a chemistry company that makes products used in the construction of everything from the Mars Rover to the Hubble Telescope to stealth bombers, according to Buyouts. The seller is Quad-C Management. New Mountain, which typically spends $100 million to $500 million of equity on […]
The Carlyle Group remains positive on investment opportunities despite the turmoil in the Middle East and North Africa and the environmental catastrophe in Japan. While acknowledging that those events have dampened what would otherwise be a more bullish outlook, Peter Clare, co-head of the Washington, D.C-based global investment firm’s U.S. buyout group spelled out Carlyle’s […]
Cortec Group expects to close its fifth buyout fund at its $620 million hard cap on Wednesday, a source close to the fundraising effort told Buyouts. The New York-based shop raised $600 million in commitments from LPs, and principals at the firm are committing an additional $20 million. The firm’s target had been $500 million. […]
Pizza chain Sbarro’s Inc.‘s woes continue to plague MidOcean Partners and its troubled Fund III. The pizza chain recently missed an interest payment and, since MidOcean bought it in 2007, it has struggled with its debt load amid cautious consumer spending and heightened commodity prices. Bad luck has hit its international expansion plans too. In […]
An AFL-CIO attorney lashed out at legislators trying to repeal several aspects of the Dodd-Frank financial reform law yesterday, including the proposal that would require most private equity firms to register as investment advisers with the Securities and Exchange Commission. During a House Financial Services Committee hearing on March 16, Damon Silvers, policy director and […]
It looks like JLL Partners is in the process of buying Peachtree Settlement Funding, a specialty finance company, from DLJ Merchant Banking, according to a regulatory filing, sister magazine Buyouts has reported. The Boynton Beach, Fla.-based company purchases high-quality deferred payment obligations, such as structured settlements, life settlements, sports contracts and lottery winnings from individual […]
The House Financial Services Committee is set to discuss legislation today sponsored by Rep. Robert Hurt of Virginia that would exempt PE firms from Dodd-Frank. The hearing is at 2 p.m. So long as it’s streaming live, I’ll likely be live-Tweeting (whoa now! Don’t get too excited:@BVaughanReuters) . Here’s a description of the legislation from […]
The Blackstone Group is offering to sell its 50 percent stake in Universal Orlando, the operator of Universal Studios theme parks in Orlando, Fla., to NBC Universal Inc., according to a company filing. Blackstone bought its stake in the company in 2000 for $275 million, according to press reports at the time. The firm has […]