HONG KONG (Reuters) – Zhu Wei, a senior managing director of CVC Capital Partners, has resigned from the private equity firm to join Asia-focused bank Standard Chartered (STAN.L) (2888.HK), sources familiar with the situation said on Tuesday. Zhu, who joined CVC’s Beijing office in July 2008 from Goldman Sachs (GS.N) Gao Hua Securities, a China […]
Environmental Capital Partners has acquired a majority stake in Cascade Drilling LP, a provider of environmental drilling services for water and soil assessment, monitoring and remediation purposes on the West Coast. No pricing terms were disclosed. PNC Business Credit arranged the leveraged financing, while Cascade was advised by Morgan Stanley.
David Pommerening has joined law firm Baker Botts as a partner in the firm's Washington D.C. office, where he will lead the office's corporate transactions practice. He previously was a partner with O’Melveny & Myers LLP.
(Reuters) – Wilton Holdings Inc, one of the largest makers of equipment for decorating food, said its creditors had withdrawn the involuntary Chapter 11 petition filed against the company in July. In a statement, Wilton said it reached an agreement with its largest creditors, under which affiliates of private equity firm TowerBrook Capital Partners and […]
NEW YORK (Reuters) – China National Offshore Oil Corp is in talks with Ghana National Petroleum Corp to bid for a stake in a large oil discovery off West Africa, the Wall Street Journal reported on Monday, citing unnamed sources. The offer for Kosmos Energy’s stake in the discovery, Jubilee, would rival a $4 billion […]
WILMINGTON, Delaware (Reuters) – The Chicago Cubs baseball team filed for bankruptcy on Monday as part of the team’s planned sale to the Ricketts family by the Tribune Co, according to court documents. The Cubs bankruptcy is aimed at shedding any claims on the team related to the bankruptcy of Tribune Co, a media conglomerate. […]
LONDON (Reuters) – The Canadian Pension Plan Investment Board (CPP) has asked fellow investors in PAI Partners to reject the buyout house’s plan to slash its fund in half as inadequate, sources familiar with the matter said. PAI last month proposed shrinking its fifth buyout fund by half to 2.7 billion euros ($4.0 billion) following […]
DUBAI (Reuters) – Private equity bosses in the Middle East say the worst of the financial crisis has passed, but improved capital and equity markets won’t immediately translate to large or numerous deals. Executives at one of the industry’s largest conferences, Super Return Middle East, were cautiously optimistic about the region’s health and ability to […]
Sun Capital Partners has sold K.K. Tarami, a Japan-based maker of fruit and fruit-flavored gelatin cups, to a private equity subsidiary of Mitsubishi UFJ Lease & Finance Company Ltd. No financial terms were disclosed. Sun acquired Tarami in April 2007, as its first-ever Japanese acquisition. PRESS RELEASE Sun Capital Partners, Inc. (“Sun Capital”), a private […]
GI Partners has closed its third fund with $1.9 billion in capital commitments. Limited partners include Florida Retirement System Trust Fund, Teachers’ Retirement System of Illinois, Capital Dynamics and Partners Group.