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Evercore Partners Inc. agreed to acquire a 50 percent stake in G5 Advisors, a São Paulo-based investment banking boutique and investment management firm. Evercore agreed to pay $20 million in cash and securities at closing, with the potential for earn out payments based on performance through 2013. The transaction is expected to close in early October. Evercore will have an opportunity to acquire the remaining 50 percent stake in 2014.
The Private Equity Council changed its name to the Private Equity Growth Capital Council. The change reflects the group’s expanded and diversified membership. It sought to broaden its membership earlier this year and now has 30 members with assets under management ranging less than $1 billion to $20 billion. The council also plans to form a Growth Capital Committee to deal with issues of interest to mid and small market firms.
VMG Partners signed a definitive agreement to sell Waggin' Train LLC, a marketer of real-meat dog treats. The buyer is Nestle SA’s Nestle Purina PetCare Co. subsidiary. The transaction has received U.S. regulatory approval and is expected to close by the end of September.
CapVest, a European mid-market private equity firm, agreed to create Valeo Foods. The newly formed Ireland-based food company will combine the businesses of Origin Foods with that of Batchelors. Upon closing, CapVest will hold a 55 percent equity stake in Valeo Foods. Origin Foods will own the remaining interest.
Ontario Teachers' Pension Plan agreed to sell its 25 percent stake in CTVglobemedia to BCE Inc. The deal has an equity value of $1.5 billion. It has a total transaction value of $3.2 billion when debt is included.
(Reuters) – Claim Jumper Restaurants LLC filed for a pre-packaged bankruptcy in a Delaware court on Friday and said it agreed to sell all of its assets and operations to an affiliate of Canyon Capital Advisors LLC. In its Chapter 11 petition, the Irvine, California-based company listed assets in the $50-$100 million range and liabilities […]
(Reuters) – Barclays Private Equity plans to raise at least 1.5 billion euros ($1.91 billion) for a new fund as it prepares to fly the nest and spin off from its parent bank in a few months, the firm’s co-head of private equity said. “The day we think the fund is what we want it […]
(Reuters) – The securities regulator is investigating investment advisory firms that channel investors’ money into hedge funds, the Wall Street Journal reported. The probe will investigate whether the firms are properly supervising client money and dealing with potential conflicts of interest, the report said, citing people familiar with the matter. The Securities and Exchange Commission’s […]
(Reuters) – Two of the world’s biggest private equity firms, Kohlberg Kravis Roberts & Co (KKR.N: Quote, Profile, Research, Stock Buzz) and TPG TPG.UL, are potentially interested in Foster’s (FGL.AX: Quote, Profile, Research, Stock Buzz) wine business, but they are not currently working on rival bids, sources told Reuters. Foster’s, Australia’s largest brewer, this week […]
Navigation Capital Partners, an Atlanta, Ga.-based middle market private equity firm, hired Marissa Swesey as a senior analyst. Swesey will manage the firm’s communications with investors and key external relationships. She previously worked as an analyst for Graham Partners.