Whatever happened to the Ascensus auction? Now we know: J.C. Flowers & Co. pulled the sale of the former Bisys Retirement Services, two sources tell peHUB. Earlier this year, J.C. Flowers hired Morgan Stanley to run a process for Ascensus, peHUB has reported.
That's the question facing lenders who may worry that sponsors won't be as engaged with portfolio companies that they've already taken money out of.
BlueMountain Capital Management LLC has raised $736 million to invest in distressed debt and other credit strategies, sister magazine Buyouts reported.
Private equity firms in the Middle East are preparing to exit a range of investments, a sign that asset markets in the region are recovering from the twin blows of Arab Spring uprisings and the global financial crisis, Reuters reported. Firms including Abraaj Capital, Egypt's Citadel Capital, Abu Dhabi-based Gulf Capital and the private equity arm of Standard Chartered aim to conduct at least three initial public offers of shares and a dozen portfolio asset sales in coming months, conversations with industry executives suggest.
Blackstone Group LP is preparing to launch a multibillion-dollar fund that will buy stakes in hedge fund managers in the secondary market, as traditional buyers such as banks pull back amid disappointing fund performance and regulation.
Salus Capital Partners, a subsidiary of Harbinger Group, has surpassed $250 million in new loan commitments since launching in January 2012. Salus has so far provided credit facilities to sixteen companies throughout North America.
Private equity fund Fortissimo Capital has acquired Starhome from Comverse Technology and other shareholders. Founded in 1999, Starhome is a provider of international roaming solutions.
Grey Mountain Partners is providing an undisclosed amount of growth equity financing for Ajubeo, a provider of enterprise-class virtual private data centers and cloud infrastructure-as-a-service. Grey Mountain Partners is a Boulder, Colorado-based private equity firm.
Victory Park Capital is buying the consumer business of the Fuller Brush Company. The acquisition was approved by the U.S. Bankruptcy Court for the Southern District of New York. Victory Park is based in Chicago.
German real estate group TAG Immobilien and private equity investor Lone Star are likely to buy a portfolio of properties that the German government is selling, Reuters reported Wednesday. TAG looks set to pay around 500 million euros ($653 million) to acquire the 12,000 flats of state-owned TLG Immobilien, while Lone Star is likely to scoop up 300 commercial properties for slightly over 1 billion euros, they added. The two groups outbid trade rivals like KWG Kommunale Wohnen and investors like Blackstone and Cerberus.