BelHealth Investment Partners plans to officially begin marketing for a new fund in September, sources say. The pool, which will have a $200 million target, is the first for BelHealth, persons say. The PE firm held a $60 million first close in June, but those funds came internally from BelHealth executives. In September, BelHealth plans to begin fundraising to outside investors, including institutions, a second person says. A second close is expected at the end of that month, the person says. Fundraising is anticipated to end later this year but will likely extend into March. BelHealth has hired a placement agent in Europe but is currently on the hunt for one in the U.S., sources say.
Leon Black has apparently learned nothing from Stephen Schwarzman. In 2007, Blackstone CEO Schwarzman famously gave himself a 60th birthday party that cemented his reputation as the “villain of private equity.” Schwarzman’s $3 million bash, held at the Park Avenue Armory, featured Martin Short as the m.c., while Pattie LaBelle — leading the Abyssinian Baptist […]
(Reuters) – Technology company Apple is now worth as much as the 32 biggest euro zone banks. That’s the stark result from a steep fall in the share price of banks including Spain’s Santander, France’s BNP Paribas, Germany’s Deutsche Bank and Italy’s Unicredit, compared to a steady rise in Apple’s valuation, according to Thomson Reuters […]
Billionaire Carl Icahn, who has been rebuffed twice in efforts to buy Clorox Co., now says he wants all 11 seats on the company’s board, Reuters reported Friday. Icahn, which owns 9.4% of Clorox, sent a letter to the company saying that he wants to nominate himself and 10 others for election to the board.
It’s only August. We should all be out enjoying the hot summer weather. Yet winter may be coming early this year as we see signs of a freeze upon us. Of course, I’m not talking about the weather, but financings for middle market companies—particularly those thousands of companies that make up the back bone of […]
Liberty Media will pour $204 million into bookseller Barnes & Noble Inc., forgoing earlier plans to buy the company outright. Under the terms of the deal, Liberty will buy 12 million shares – or 16.6% of the company – at a price of $17 per share. The deal comes three months after Liberty offered to buy 70% of the bookseller. Facing pressure from some shareholders, Barnes & Noble put itself up for sale last summer but failed to find a buyer until Liberty stepped up to the plate.
Advent International has acquired a majority stake in Argentinian specialty pharmaceutical maker Laboratorio LKM. Advent bought the controlling stake from LKM’s founding Kampel family, the firm said in a press release. Advent will also make a roughly $12 million investment to fuel the company’s expansion plans.
Wearing White Kim Kardashian to wed at home of KPCB’s Frank Caufield The Fear creeps back in, we face yet another global selloff Friday Now I have firsthand knowledge of kids from DC acting up, but this is just plain embarrassing For Serious? Liberty just opts for a small investment in Barnes & Noble instead
Greenbriar Equity Group is buying the aerospace hardware division of Anixter International Inc., a distributor of communication and security products, electrical and electronic wire and cable and other parts. Greenbriar is paying $155 million in cash, and up to $30 million in additional milestone-based payments. The deal is expected to close in the third quarter.
Sprint Nextel is in talks with cable companies about a possible investment that may lead to an acquisition of partner Clearwire Corp., Reuters reported Friday, citing a Bloomberg story. Sprint, Comcast Corp. and Time Warner Cable are all investors in Clearwire. The talks are around ways to provide funding to Clearwire so it can build out its high-speed wireless network, Reuters wrote.