BlackRock Sells Asset-Backed Bonds From Credit Suisse’s Books
BlackRock’s Financial Markets Advisory group has been selling off securities over the last two weeks, including pieces of collateralized loan obligations, commercial mortgage bonds and niche asset backed debt, according to people with knowledge of the matter. Bonds backed by auto, credit card, student and aircraft loans or leases were also included in the lists […]
KKR buys stake in communications firm FGS Global
Private equity firm KKR & Co Inc (KKR.N) has agreed to buy a significant stake in FGS Global in a deal that values the financial communications group at about $1.4 billion. As part of the deal, KKR will buy up a 30% stake from senior employees at FGS Global and its largest investors, including London-based […]
Thyssenkrupp shares move higher on report of CVC interest in steel unit
Thyssenkrupp AG (ETR:TKAG) shares jumped on Tuesday on a report that private equity firm CVC Capital Partners is potentially interested in making an offer for the industrial group’s steel unit. CVC is eyeing a bid of only €1 for the division, business daily Handelsblatt reported, citing several people familiar with the matter. The Luxembourg-based financial […]
BlackRock Not Working on Rival Bid for Credit Suisse
BlackRock Inc (BLK.N)Vice Chairman Philipp Hildebrand is taking part in talks as Swiss officials try to put together a deal for UBS Group (UBSG.S) to take over Credit Suisse Group AG (CSGN.S), Bloomberg News reported on Saturday, citing unidentified sources. Asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview that “Philipp […]
University of California invests $4 bn in redemption-stricken REIT
Blackstone Inc, on Tuesday said it had secured a $4 billion investment from the University of California in its unlisted real estate income trust (BREIT) that has been plagued by investor redemptions, after the private equity firm committed $1 billion to backstop the university’s returns in the fund. In an unprecedented move, Blackstone exercised its […]
Warburg Pincus acquires K2 Insurance Services from Lee Equity Partners
Warburg Pincus has acquired K2 Insurance Services (K2), a speciality insurance programme manager, from private equity firm Lee Equity Partners (Lee Equity), according to a report by Captive Insurance Times The report cites a statement issued by K2 as saying that Warburg Pincus will now support the firm’s continued growth strategy, including mergers and acquisitions. […]
KKR looking to sell Canadian gas producer Westbrick for $1.13B
Private equity firm KKR & Co is looking to offload Canadian oil and gas producer Westbrick Energy Ltd in a potential deal valued at between $1.13 billion and $1.5 billion, according to a report by Reuters. The report cutes unnamed sources as revealing that majority owner KKR is looking to find a buyer by the […]
Credit Suisse to sell much of securitised products group to Apollo
Business generated substantial profits for Swiss bank but was capital-intensive Credit Suisse confirmed on Tuesday that it was selling much of its securitised products group to private equity group Apollo, as the Swiss bank slashes a business that generated substantial profits but ate up large amounts of capital. Credit Suisse last month announced a radical […]
Astorg and Epiris secure regulatory approval for £1.6B Euromoney deal
Becketts Bidco a consortium comprising Luxembourg-based private equity firm Astorg Asset Management and London-based private equity firm Epiris LLP, has secured all necessary regulatory approvals for its #1.6 billion acquisition of Euromoney Institutional maestro, according to a report by PE Insights. The scheme remains subject to the waiver or satisfaction of the remaining conditions set […]
Brazilian Soccer League to Sell Rights for $971m to Mubadala Capital
The Brazilian Football League (Libra), one of two groups proposing new structures for soccer in the country, has confirmed it is in talks to sell a stake in its proposed competition to UAE investment firm Mubadala Capital. According to Brazilian newspaper O Globo, Libra is in negotiations to sell 20 per cent of its commercial […]
