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’Moulton quits Alchemy, lashes out
Jon Moulton, one of the founding fathers of the UK private equity industry, has resigned as head of Alchemy Partners, calling for the buy-out house he established to be wound up after a bitter dispute over strategy.
Nationalisation quote du jour
In some ways, it would be similar to a private equity investment… But unlike a private equity deal, the banks would go from being publicly listed to being publicly owned …
- “Let us have public ownership of Lloyds and RBS”
Woolworths bid could come in a week
The Woolworths brand could be sold within a week as potential buyers including Theo Paphitis, the entrepreneur and TV game show judge, line up possible bids for the failed variety retailer. Neville Kahn,
Bidders eye Woolworths
UK supermarkets on Thursday scrambled to switch suppliers and administrators fielded calls from potential buyers amid recriminations over the collapse of retail chain Woolworths. The retailer was placed in the hands of Deloitte on Thursday morning – putting 30,000 jobs at risk – after directors’ frantic attempts to save the business failed.
Alchemy Partners considers second fund
Alchemy Partners, run by UK private equity veteran Jon Moulton, is contemplating a second fund targeted at distressed debt and special opportunities. Investors are showing increasing interest in the asset class,
Bargain-hunters circle Baugur
UK retail mogul Sir Philip Green is facing competition from TPG, the US buyout group, in his attempt to gain control of Baugur’s UK high street assets by buying the debt of the Icelandic company. TPG has told the Icelandic government it is interested in acquiring the £1bn-£2bn of debt owed by Baugur to the country’s collapsed banks.
Moulton warns buy-out groups on debt
Jon Moulton, the UK private equity veteran, has cast a shadow over his industry’s hottest new investment area by warning of “legal and ethical problems” when buy-out groups acquire debt in companies in which they also own the equity.
US investor cuts Alchemy contributions
Alchemy Partners’ biggest investor is expected to scale down its commitment to the buy-out fund run by Jon Moulton, the outspoken pioneer of UK private equity. The California State Teachers’ Retirement System (Calstrs),
Buy-out groups split on future
A clear split emerged Tuesday in the global private equity industry over whether buy-out firms are heading for a self-inflicted crisis in the wake of the credit squeeze, reports the FT. As more than 1,000 delegates gathered in Munich for the Super Return conference,
UK private equity bosses admit mistakes
Private equity executives left a UK parliamentary inquiry on Tuesday seeming happy they had cleared a hurdle by adopting a humble attitude and acknowledging past mistakes. Unlike the hostile interrogations that MPs unleashed on several of their competitors and trade representatives at two previous Treasury select committee hearings,
PE vs MPs – the rematch
“Researchers from the University of St Andrews, Brazil’s Mamirauá Institute and the Zoological Society of London are conducting research on an often misunderstood animal – the piranha.” (The Royal Society)
And,
Moulton’s Jaguar and Land Rover attachment at “emotional” stage
Here’s a new one: “fantasy M&A” has given way to “emotional buyouts.”
Quick translation: “The sound of my own voice got the better of me during an interview and, anyway, it was all taken out of context.”
Moulton wants to buy Jaguar and Land Rover
Jon Moulton of British buyout group Alchemy Partners would like to take over the Jaguar and Land Rover marques and is ready to offer Ford £3bn for the two businesses, he tells City AM in an interview with the London freesheet.
Private equity, or the art of bringing order and returns out of chaos
A leading buyout executive recently noted that many private equity groups thrive when the corporate sector is racked by “dislocation, chaos and train wrecks”, according to an FT special report on Business Turnrounds.
Alchemy founder warns of sharp rise in defaults
Debt-driven private equity houses face a tenfold increase in corporate defaults, Jon Moulton, the founder of Alchemy Partners, has warned. The Telegraph quoted him as saying he expected default levels across Europe to rise from the current €3bn to “anywhere between €10bn and €40bn”