(Reuters) – GMAC LLC expects to soon announce the results of a debt exchange offer that is key to North America’s largest auto finance company’s capital levels, a spokeswoman said on Sunday. GMAC, owned by private equity firm Cerberus [CBS.UL] and General Motors, is looking to swap $38 billion of outstanding debt for a smaller […]
New Creative Enterprise, an outdoor living decor and gift vendor based in Ohio, filed for Chapter 11. The firm was backed by private equity firm Fenway Partners and Blue Capital Management, which purchased New Creative Enterprise in 1998.
Centerplate, Inc. and buyout firm Kohlberg & Co. have agreed to a reduced merger price for the previously announced take-private of the Stamford, CT-based concessions company. The price for each IDS will be reduced from $4.00 to $2.50. Press release: Centerplate, Inc. (Amex: CVP; TSX: CVP.un), today announced that the terms of its merger agreement […]
Sorenson Capital, a Salt Lake City-based private equity firm, acquired a minority interest in Jet Set Sports, a New Jersey-based corporate hospitality services provider for the Olympic Games. Terms were not disclosed. Press release Sorenson Capital and Jet Set Sports today announced that Sorenson Capital has acquired a minority interest in Jet Set Sports, a […]
Glass Lewis & Co., a proxy advisory firm backed by Ontario Teachers Plan, has closed its deal to buy Washington Analysis Corp., a political and economic advisory firm backed in Washington, D.C. Press release: Glass, Lewis & Co., LLC, a leading independent proxy advisory and investment research firm, today announced that it has completed the […]
GE Capital, a middle-market lender, has provided $270 million in senior secured credit to Bradco Supply Corp., a portfolio company of Boston buyout firm Advent International. Press Release: GE Capital’s Global Sponsor Finance business today announced it served as administrative agent and co-syndication agent for a $270 million senior secured asset based revolving credit facility […]
(Reuters) – GMAC LLC may have applied for up to $6 billion in funds from the government’s financial bailout program, and could potentially sell $17.5 billion in government-backed debt to shore up its capital position, CreditSights said. The finance company, owned by Cerberus Capital Management CBS.UL and General Motors Corp, on Wednesday won approval to […]
Move over Dr. Doom, there’s a new gloom-sayer in town. Or rather, across the pond. In a new report, a two European professors, alongside Boston Consulting Group and IESE Business School, have predicted that 20% to 40% of all private equity firms could fail next year. Called “Get Ready For The Private Equity Shakeout,” the […]
Reuters) – Morgan Stanley’s private equity unit said on Tuesday it had invested 1.82 billion rupees ($37.5 million) in unlisted Indian castor oil maker Biotor Industries, to mark its first private equity investment in India. Morgan Stanley, which raised $1.5 billion for an Asia dedicated fund last year, said it would get a “significant minority” […]