Permira announced several changes to its Paris office: Benoit Vauchy will be promoted to head of the office, following Philippe Robert's retirement at year-end. Jean-Marc Espalioux, chairman and CEO of chairman and CEO of Financière Agache Private Equity, will join as a senior advisor and Simon Marc, formerly of Candover and Apax Partners, will join as a principal.
TOKYO (Reuters) – Sumitomo Trust and Banking Co Ltd (8403.T) and Chuo Mitsui Trust Holdings Inc (8309.T) said they plan to merge, creating Japan’s largest trust bank with a scale to better compete in a crowded asset management industry. Sumitomo Trust, Japan’s fifth-largest bank, and sixth-ranked Chuo Mitsui said they planned to exchange shares on […]
Nov 6 (Reuters) – Citigroup Inc (C.N) is planning to relaunch Citi Alternative Investments (CAI), a unit that contains its hedge fund operations, the Financial Times reported on its website on Friday. Citi wanted to change the name of the unit to Citi Capital Advisors, the paper said, citing people close to the situation. The […]
TOKYO (Reuters) – The Carlyle Group said on Friday it would buy a Japanese restaurant chain operator in a 21 billion yen ($230 million) management buyout, its second deal in Japan in two weeks. The U.S. private equity firm said it aims to buy all the shares in Chimney Co (3362.T) for 2,260 yen per […]
LONDON (Reuters) – European buyout house Permira has entered exclusive talks to buy survival equipment maker Survitec from rival Montagu Private Equity, a source familiar with the process said. Permira beat off bids from Warburg Pincus and Carlyle Group to get exclusive access to Survitec’s books in the last few days, the source said. Montagu […]
NEW YORK, Nov 5 (Reuters) – A Ropes & Gray lawyer’s arrest in an insider trading case has embarrassed the corporate law firm in the latest scandal to cast a harsh spotlight on legal partnerships that oversee billions of dollars in deals each year. U.S. prosecutors alleged on Thursday that Arthur Cutillo, in Ropes & […]
Max Burger-Calderon has retired as chairman of Apax Partners‘ Asia operations, according to Dow Jones. He will now serve as part-time nonexecutive chairman, and will not be succeeded in his fulltime role. Dow Jones also reports that Michael Prahl has left Apax, where he focused on retail and consumer investing out of the firm’s Hong Kong […]
Lime Rock, an energy-focused private equity firm, has closed its second Lime Rock Resources fund with $410 million in capital commitments. It will seek to acquire, directly operate and improve lower-risk oil and gas properties in the United States.
(Reuters) – Small-business lender Ares Capital Corp (ARCC.O) posted a quarterly profit that beat analysts’ estimates by a cent, while struggling rival Allied Capital Corp (ALD.N), which Ares agreed to buy last month, posted a quarterly loss. Ares Capital posted a net profit of $63.3 million, or 62 cents a share, for the third quarter, […]
NEW YORK (Reuters) – Ancestry.com Inc (ACOM.O), a website backed by Spectrum Equity Investors, rose in its initial public offering debut on Thursday. The company priced the 7.4 million shares at $13.50 per share on Wednesday, within an expected range. Ancestry.com, which operates a website that allows people to trace their family roots by scouring […]