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.
FRANKFURT (Reuters) – Funds advised by U.S. private equity group J.C. Flowers & Co LLC have taken legal action seeking to prevent the full nationalisation of German bank Hypo Real Estate (HRXG.DE), the investment group said. As widely expected, the funds filed a lawsuit in a Munich court last week in a bid to invalidate […]
Onyx Pharmaceuticals Inc. (Nasdaq: ONXX) has agreed to acquire Proteolix Inc., a South San Francisco-based drug company focused on protein degradation pathways in cancer and autoimmune diseases. The deal is valued at up to $851 million, including a $276 million up-front cash payment and the remainder in earn-outs. Proteolix has raised around $142 million in VC funding, from firms like U.S. Venture Partners, Advanced Technology Ventures, Latterell Venture Partners, Delphi Ventures, The Vertical Group, Nomura Phase4 Ventures and Westfield Capital Management.
JO Hambro Capital Management has acquired Celsis International, a Chicago-based contract research firm for the global life sciences market. The deal was valued at approximately £55 million, and will result in Celsis de-listing from the London Stock Exchange.
GF Capital and Stockton Road Capital have acquired Airborne Inc., a Minneapolis-based maker of dietary supplements for bolstering the immune system. No financial terms were disclosed. Sawaya Segalas & Co. advised Airborne on the sale.
NEW YORK (Reuters) – Lionel Pincus, founder and former chairman of private equity firm Warburg Pincus, died Saturday in New York after a long illness, the firm said on Sunday. He was 78. Pincus led efforts in the 1970s to change regulations that allowed pension funds to invest in venture capital and private equity funds, […]