Blackstone hits jackpot with $5.7bn Cosmopolitan casino sale
Disposal of Las Vegas resort to MGM International and a property consortium completes turnround Blackstone has agreed to sell The Cosmopolitan in Las Vegas for $5.7bn, completing a turnround at a resort that had been blighted by losses and labour disputes before Stephen Schwarzman’s private equity firm took ownership seven years ago. MGM Resorts International […]
KKR to acquire Probe CX
KKR is to acquire a majority stake in Probe CX alongside existing management from Quadrant Private Equity, Five V Capital, Rodney Kagan and other shareholders of the company. The investment will be used to further fuel Probe’s robust growth and strengthen its digital capabilities to enhance its service offering to customers. Probe is a leading […]
Ropes & Gray represents Acceleron in $11.5bn sale
Ropes & Gray has advised Acceleron in its $11.5 billion sale to Merck & Co. This is one of Merck’s biggest acquisitions and diversifies the pharmaceutical company’s pipeline by adding Acceleron’s drugs to target rare diseases. The transaction was announced on 30 September. Acceleron focuses on discovery, development and commercialisation of respiratory and blood disease […]
Serie A should consider a deal with private equity firms
Italy’s top flight Serie A soccer league should follow the example of Spain’s LaLiga and open up to private equity investors to mend clubs’ finances ravaged by the pandemic, the new U.S. owner of Serie A club Genoa CFC has said. Earlier this year, Spain’s top league soccer clubs backed private equity firm CVC’s proposed […]
Konfío completes $235m capital raise at a $1.3bn valuation
Konfío, a technology company aimed at boosting the growth and productivity of companies in Mexico, has closed a $110 million extension of its series ‘E’ capital raising round at a $1.3 billion valuation. This completes Konfío’s Series E round for a total of $235 million. Konfío, founded and led by David Arana, will use the […]
Grocer Morrison to Be Auctioned Off to Private Equity Bidders
Fortress Investment Group and Clayton Dubilier & Rice LLC are to face off in an auction for Wm Morrison Supermarkets Plc that will likely determine who wins the battle for Britain’s fourth-largest grocer. The procedure kicks off on Oct 2. It will last one day and consist of a maximum of five rounds, according to […]
Football Is the Next Big Thing for Hedge Funds and Private Equity
Alternative investment firms are flexing their muscle in the world’s most popular sport. We look at how they are doing it. When AC Milan host Atletico de Madrid in the Champions League on Tuesday evening, it will be a clash between Italy’s most successful team in Europe’s elite soccer competition and last year’s Spanish title […]
EQT Private Equity invests in EC-Council, a global leader in cybersecurity training and certification
EQT is pleased to announce that the EQT Mid Market Asia III Fund (“EQT Private Equity”) has made a significant investment in EC-Council (the “Company”). EC-Council’s founder, Malaysian technopreneur Jay Bavisi, will retain a majority stake in the Company and remain as the Group Chief Executive Officer. Established in 2001, EC-Council develops and provides proprietary […]
Private equity firm TPG names long-time exec Todd Sisitsky as president
Private equity firm TPG, which is reportedly heading towards a public listing, said on Thursday it had appointed long-time company executive Todd Sisitsky as president, effective immediately. Sisitsky, who joined TPG in 2003, will continue to play an active role in the firm’s healthcare investments, the company said. He was named managing partner of TPG […]
UK-based start-ups raised USD19.6bn VC funding between January and August
The UK is the key European market for venture capital (VC) investments, as the UK-based startups raised the highest VC funding amount during January-August 2021. A total of 1,256 VC funding deals were announced in the UK during January-August 2021, while the disclosed funding value of these deals stood at USD19.6 billion, according to GlobalData, […]
