New York Life Capital Partners is raising upwards of $1 billion for its third mezzanine fund, according to a regulatory filing. Southridge Investment Group is listed as a placement agent. NYLCP closed its second mezz fund in 2006, with $800 million in capital commitments. It manages over $6.8 billion in total assets, including direct private equity, […]
OTTAWA (Reuters) – A second bid for Canwest Global Communications (CGS.V) worth C$120 million ($114 million) was announced on Friday from a consortium led by private equity fund Catalyst Capital and backed by Goldman Sachs Group Inc (GS.N). The Catalyst consortium, which includes the Asper family and two former executives from Rogers Communications (RCIb.TO), seeks […]
John Kelly, former president and CEO of Crown Castle International Corp., has joined Berkshire Partners as an advisory director.
The New York Common Retirement Fund reported a 22.3% rate of return through December 31, 2009, which is the end of the Fund's third fiscal quarter.
PARIS (Reuters) – French investment bank Natixis (CNAT.PA), recovering from a series of quarterly losses that provoked funding worries, on Friday said it was in talks with AXA (AXAF.PA) to sell its private equity business in France. Natixis said it could sell these activities for 507 million euros ($687.2 million) to AXA Private Equity and […]
FRANKFURT (Reuters) – The sale of cable television operator Kabel Deutschland is hitting snags as the high-yield bond market dries up, jeopardising what would be Europe’s biggest leveraged buyout in two years, sources said. Junk bonds would play a crucial role in what would be a multi-billion-dollar deal, so the sharp increase in financing costs […]
NEW YORK (Reuters) – Manhattan District Attorney Cyrus Vance has created a Major Economic Crimes Bureau as he and other high-profile investigators redouble their efforts to fight financial fraud. Vance, who replaced Robert Morgenthau as district attorney on Jan. 1, named senior U.S. Justice Department official Richard Weber to lead the new bureau. Weber will […]
FedCap Partners, a Reston, Va.-based private equity firm focused on the Federal contracting industry, has held a first close on $15.5 million for its debut fund. According to a regulatory filing, the fund target is $30 million.
Lineage Power Holdings Inc., a portfolio company of Gores Group, has agreed to acquire PECO II Inc. (Nasdaq: PIII), a Galion, Ohio-based provider of engineering and on-site installation services related to communications power systems and power distribution equipment. The deal is valued at around $16.7 million, with PECO stockholders to receive $5.86 per share (51% premium to yesterday's closing price).
TelePacific Communications, a Los Angeles-based CLEC for SMEs in California and Nevada, has secured a $395 million senior credit facility. TelePacific is a portfolio company of Clarity Partners and Investcorp.