Blackstone to sell PRI Operating for $2B
Blackstone is looking to further its withdrawal from fossil fuel investments with a unit of the global alternative investment firm said to be exploring the sale of oil and gas producer PRI Operating for around $2 billion including debt. The report cites unnamed sources as saying a sale of PRI Operating, which is also known […]
Marathon Oil acquires Warburg Pincus-backed Ensign Natural Resources for $3B
Ensign Natural Resources (Ensign), an exploration and production company operating in the Eagle Ford Shale in South Texas, formed in 2017 in partnership with Warburg Pincus, is selling its assets to Marathon Oil, for a total cash consideration of $3.0 billion, including closing adjustments. Warburg Pincus has invested in energy companies for over thirty years, […]
KKR vies with Cellnex for $14B Vodafone Tower arm
KKR & Co. is seen as the party to beat as it competes with Cellnex Telecom SA in the final race for a stake in Vodafone Group Plc’s towers unit, people with knowledge of the matter said. Shares in Vantage rose as much as 3.5% on Thursday. The stock was up 2.4% at 10:31 a.m […]
Carlyle, Apollo see financing stifling deals as prices slump
Private equity transactions are set to dip further as a dearth of financing and a protracted price discovery period will dent activity, according to senior executives at Carlyle Group Inc. and Apollo Global Management Inc. Apollo’s Zelter said private credit has become a large part of the market now, including dollar-denominated low investment grade credits, […]
Apollo was a major buyer in UK pension fund fire sale
Assets under management at the group reached $523bn in the third quarter US-based private capital group Apollo Global was a major buyer of assets sold by UK pension funds during a weeklong liquidity crisis caused by margin calls triggered by surging yields on UK government bonds. Apollo’s Athene annuities business purchased $1.1bn in highly rated […]
EQT is leads bidding for stake in $9B tower firm TDF
EQT AB is emerging as the front-runner to acquire a stake in French telecom tower owner TDF, people familiar with the matter said. The Stockholm-based private equity firm is seen as the strongest contender to acquire the 45% TDF stake being sold by Brookfield Asset Management Inc., the people said. TDF could be valued at […]
Wafra raises $1.5B to acquire minority stakes in alt asset managers
Wafra Inc has raised $1.5 billion for its fourth flagship fund which will look to acquire minority stakes in alternative asset managers, including private equity firms, according to a report by Reuters. The report cites Daniel Adamson, a Wafra senior managing director, as confirming that Capital Generation IV will target “lower middle-market” firms with less […]
Nordic Capital and Five Arrows exit Binding Site through $1.6B sale to Thermo Fisher
A shareholder group led by private equity firm Nordic Capital has agreed to sell The Binding Site Group (Binding Site), a specialty diagnostics company headquartered in Birmingham, UK, to Thermo Fisher Scientific for £2.25 billion. Nordic Capital has been the majority owner of The Binding Site since 2011 when it completed the acquisition together with […]
Thoma Bravo, Sunstone Partners launch all-cash $1.3B take-private deal for UserTesting
Shares in UserTesting Inc jumped by more than 92% to $7.42 after Thoma Bravo and Sunstone Partners revealed plans to take the customer feedback platform private in an all-cash $7.50 per share deal worth about $1.3 billion, according to a report by Reuters. The report cites a statement from Thoma Bravo and Sunstone as revealing […]
KKR raises $6B for biggest Asia infrastructure fund
KKR & Co Inc has raised nearly $6bn for its second Asia Pacific infrastructure fund at the first-close, marking the biggest ever private equity fundraising for the sector in the region. The latest fundraising comes after the U.S private equity firm deployed most of the $3.9 billion capital raised in its debut Asia infrastructure fund […]
