Denver-based private equity firm KRG Capital Partners has invested in PAS Technologies, which provides innovative repairs and advanced coatings for the aerospace, industrial gas turbine and oil and gas industries. The details of the deal were not revealed. KRG has a $1.96 billion Fund IV, which has so far acquired eight platform companies.
Mubadala, the Abu Dhabi investment fund, is planning a $7 billion investment, through 1Malaysia Development Berhad (1MDB), Malaysia’s aluminium sector. Other projects will include the Sarawak Corridor of Renewable Energy and the Kuala Lumpur International Financial District. Mubadala has stakes in Advanced Micro Devices Inc and Ferrari, General Electric and private equity firm Carlyle.
Private equity firm Blackstone is close to striking a deal with industrial real estate firm ProLogis to buy 180 properties for around $1 billion, according to Reuters and the Wall Street Journal. ProLogis is selling the properties to help pay down debts it incurred during boom-time expansion. Blackstone’s real estate assets were, at the end of June, around $23.8 billion.
Legislation that would crack down on hedge funds and private equity groups has led to talks between EU governments and the European Parliament, and a souring of relations between the EU and the U.S., with the U.S. saying the legislation would make it harder for their fund managers to do business in the EU.
Private equity firm Mason Wells, based in Milwaukee, WI, has bought Appleton Performance Packaging from Appleton Papers, Inc. Mason Wells will rename the business NEX Performance Films, Inc. The details of the deal were not disclosed. Mason Wells recently closed on a $525 million equity fund called Mason Wells Buyout Fund III.
John Swidler, Jean-Pierre Ouellet, Barry Tissenbaum and Francois R. Roy have been named members of the Noranda Income Fund by the Noranda Operating Trust. The Noranda Income Fund was formed to buy Noranda Inc.'s CEZ (Canadian Electrolytic Zinc Limited) processing facility and ancillary assets in Quebec.
GVK Power and Infrastructure, an Indian energy company, is seeking up to $600 million in private equity investment into two of its business, according to Reuters. TPG Capital and an investment arm of Standard Chartered are currently in talks to invest between $250 million and $300 million for a 30 percent stake in GVK’s airport business. 3i and Actis have struck ‘in-principle’ agreements to buy stakes in GVK’s energy business for around $280 million.
South African private equity firm Brait has sold a 19 percent stake in Freeworld Coatings, a Johannesburg-based paint company, to Japan’s Kansai Paint. Kansai Paint has bought a 25 percent stake overall in the company. Brait had previously attempted a 1.7 billion rand ($248.3 million) takeover of Freeworld, but it was rejected by shareholders.
Private equity firm Carlyle Group is satisfied so far with deals for minority stakes in Indian companies, despite the boom in private equity deals in India at the moment, according to Reuters. India saw $6.57 billion invested in the first three quarters of 2010, twice the $2.5 billion invested for the same period last year. Carlyle, though, is happy to sit on the sidelines and wait for the right deal, according to Devinijt Singh, a managing director at the firm.
Pandora, the Danish jewellery maker, said that the value of its IPO has moved above $2.1 billion, after arrangers of its initial public offering exercised an overallotment option on 6.68 million shares. Prometheus Invest ApS – an investment vehicle of Axcel, set up by Axcel and the founding family – now holds about 54.7 percent of Pandora.