Warren Buffet’s executive air-travel company NetJets has hired Goldman Sachs to raise up to $1.4 billion in debt, according to a government filing. NetJets has $1.2 billion of short-term debt notes outstanding as of early February, documents show. The company became a subsidiary of Buffet’s Berkshire Hathaway holding company in 1998.
Yesterday was the first subscription day for interested TALF participants, but due to a seeming lack of preparation and time on both sides, it was extended until tomorrow. Is two days going to make much of a difference? Probably not. Notably, it's not for a lack of interest. The most vocal example is PE pro Wilbur Ross, who expressed his desire to get a piece of the TALF action last week. From what I hear, there are plenty of others in the alternative asset community and elsewhere. At issue is the timing.
NEW YORK (Reuters) – Station Casinos Inc said in a court filing on Wednesday it plans to file for bankruptcy on or before April 15 as part of an attempt to reorganize its debt. The company said it is currently working on a so-called prepackaged plan of reorganization. In a prepackaged Chapter 11 case, negotiations […]
NEW YORK (Reuters) – Foamex International Inc., a maker of polyurethane foam for bedding and cushions, said on Wednesday a bankruptcy court approved a bankruptcy loan of as much as $95 million to help the company fund operations while it restructures its debt and business. MatlinPatterson Global Opportunities Partners III L.P. and Bank of America […]
As we look back at the dreadful deal environment of 2008, we wonder what’s in store in 2009 and beyond? What did we learn, if anything, from our battle scars? When will we return to the good old carefree days of private equity? Actually, my hope is never! What we saw in the so-called “golden […]
Aquiline Capital Partners has invested an undisclosed amount in HedgeServ Holding LP, a hedge fund and fund-of-hedge fund administrator with offices in New York and Dublin, Ireland.
Shari’s, an operator of 24-hour family dining restaurants in the Northwestern U.S., has acquired four Bakers Square locations in the San Francisco area, from Vicorp Restaurants Inc. No financial terms were disclosed. The restaurants will be rebranded over the next several weeks. Circle Peak Capital led a buyout of Shari’s in 2005, while Vicorp is a Wind Point Partners portfolio company that filed for Chapter 11 bankruptcy protection last April.
Calyx Transportation Group Inc., a transportation and logistics company majority-owned by Wynnchurch Capital Partners, has made three acquisitions: Totalline Transport, Kreative Carriers Transportation & Logistics Services Inc. and Bransam Logistics Services Inc. No financial terms were disclosed. Each of the acquired companies will become separate operating subsidiaries of Calyx Transportation.
Vicente Capital Partners has raised $15 million in additional commitments for its debut growth equity fund, bringing the total to $165 million. New LPs include Credit Suisse and the State of Connecticut. Los Angeles-based Vicente will invest between $5 million and $15 million in companies that have between $2 million and $25 million in revenue and up to $5 million of EBITDA. Vicente was previously known as Kline Hawkes & Co., although Frank Kline is not part of the new effort. In related news, Vicente announced its first portfolio company: MedBridge Healthcare, a Greenville, S.C.-based provider of sleep diagnostic and respiratory therapy services.
NEW YORK (Reuters) – Aleris International Inc [TXPACA.UL] will get court approval for more than $1 billion in bankruptcy financing to keep the maker of aluminum rolled products operating as it restructures its debt, sources said on Tuesday. A lender group led by Deutsche Bank AG (DBKGn.DE) will provide about $500 million of fresh financing, […]