GP Investments Ltd (GPIV33.SA: Quote, Profile, Research, Stock Buzz), the largest Latin American buyout firm, sold its remaining stake in Brazilian college operator Estácio Participações SA (ESTC3.SA: Quote, Profile, Research, Stock Buzz), pocketing five years of gains in one of the largest companies in the nation's thriving education industry, Reuters reported.
Private equity firm TPG Capital has invested approximately $108.6 million in Xinyuan Real Estate Co. Ropes & Gray advised TPG in the transaction. Based in Beijing, Xinyuan is a real estate developer.
A consortium led by private equity firm Corsair has emerged as the front runner to buy 315 branches being sold by Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz), sources told Reuters.
Brookfield Asset Management is seeking assets in Europe to take advantage of an expected wave of sales, and also sees opportunities in Latin America and in the hard-hit commodity sector, the company's chief financial officer, Brian Lawson, said on Wednesday. Toronto-based Brookfield, which manages more than $175 billion, has spent the last five years bulking up on energy, U.S. real estate and emerging markets infrastructure assets.
Brazilian miner Vale SA said on Wednesday it plans to sell stakes in its cargo transportation unit, VLI SA, totaling more than 60 percent in three separate deals that together could be worth about 4 billion reais. The stakes are to be sold to Canada-based Brookfield Asset Management, Japan's Mitsui Co Ltd and a Brazilian worker's fund.
Calgary-based BlackSquare Inc, an e-commerce platform targeted to the global wine and spirits industry, has obtained $1.175 million in financing from Canadian private equity and investment management firm HorizonOne Asset Management. Concurrent with this news, BlackSquare announced the spin out as a stand-alone company of its subsidiary Wine Collective Inc, which operates a monthly wine club. The company's platform brand is Blackboxx, which will be the focus of its international growth plans.
Triangle Capital Corp has invested $14 million of subordinated debt and equity in Specialized Tech Inc, a Calgary-based provider of high pressure sand recovery services to oil and gas producers. Specialized Tech was also this week the focus of a recapitalization transaction completed by U.S. private equity firm Hammond Kennedy Whitney & Co. Based in Raleigh, North Carolina, Triangle is a publicly-traded BDC that invests in established lower mid-market businesses.
Asset management firm Victory Park Capital has invested in Reich Brothers Holdings. No financial terms were disclosed. Reich Brothers is a provider of capital asset solutions.
Resource Capital Partners, a private equity fund manager, said Thursday that it will invest up to $6 million for a 50.1% stake in the Maxut copper-nickel deposit in Kazakstan. This marks the fund's first investment. Also, RCP has also changed its name to Centurion Resource Group, effective immediately.
Australia's Billabong International accepted a sweetened refinancing proposal from hedge funds Oaktree Capital Management and Centerbridge Partners, and appointed an industry veteran as its new chief executive, writes Reuters. The moves could help the surfwear company turn around its performance, which has been hit by slumping sales of its key brands and a costly expansion strategy since it knocked back a A$850 million ($794.71 million) private equity bid last year.