Sitoy Group Holding Ltd., which makes handbags and leather good for the Prada fashion house, could raise about $127 million in a Hong Kong I.P.O., Reuters reported. Milan-based Prada, which raised about $2.5 billion in a Hong Kong IPO in June, agreed to buy 19.6% of the Sitoy shares on offer, with venture capital firm IDG buying 22%, IFR reported last week.
Abu Dhabi-based private equity firm Gulf Capital aims to close four private equity deals during the first quarter of 2012, Reuters reported. The firm is in the final stages of acquiring majority stakes in four regional companies, Reuters wrote. Gulf Capital currently has around $1 billion of assets under management.
GRP Partners is at it again. The VC—which seems to continually be bagging early-stage hits—is raising a fourth fund with a bigger target than the one it closed in just 2008. GRP has already completed a first close, and will likely do a second before the end of 2011, four sources confirm to peHUB. A […]
British life insurer Phoenix Group Holdings said it was considering potential takeover offers, including one from buyout firm CVC, after an approach from rival Resolution Ltd failed, Reuters reports. CVC, which owns home, motor and travel insurer Acromas, and last year joined forces with rival Apollo to buy non-life insurer Brit, was not immediately available […]
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(Reuters) – Ted Forstmann, the billionaire private equity investor and philanthropist, died on Sunday of brain cancer. He was 71. He was viewed as a pioneer of the leveraged buyout and took over companies such as Dr. Pepper and Gulfstream Aerospace through the private equity firm he co-founded, Forstmann Little & Co. He was also […]
Continuing to diversify its revenue streams as it prepares for a public stock offering, The Carlyle Group has acquired leveraged lender Churchill Financial Group LLC from its current backer, buyout firm Olympus Partners, according to sister publication Buyouts. The deal means that 13 Churchill investment professionals will be doing their loan underwriting for Carlyle going […]
Don’t expect a rush of private equity execs to start their own firms, said Eric Zinterhofer, co-founder of Searchlight Capital. Zinterhofer, who was speaking at the Buyouts Conference in Dallas Thursday, was asked about a Triago report that predicts up to half of GPs could disappear in the next five years as junior PE execs form their own firms. “I don’t think you’ll see a ton of new guys starting their own firms,” Zinterhofer said during the Newsmakers panel. Why is this? Some PE execs may complain, but most don’t end up leaving their firms, Zinterhofer told me on the sidelines of the conference. “While there is always a degree of angst among senior professionals at PE firms, at the end of the day the job is very attractive and the 'golden handcuffs' are significant," Zinterhofer said. It's also a tough fundraising environment for ...
The Carlyle Group said Friday that it has acquired Churchill Financial, a middle market lender, from Olympus Partners. Financial terms weren't announced.
Kohlberg Kravis Roberts & Co. is buying a 12.5% equity stake in Saba Infraestructuras, a Spanish operator of car parks and logistics parks. KKR joins a consortium of shareholders including Spanish savings bank Criteria CaixaHolding, investment firm Torreal and mid-market buyout shop ProA Capital.