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’China’s vanishing forests?
… We like CF for two major reasons. First, CF has a strong competitive edge, brought by the experience of its management team. CF was among the first wave of private companies that entered into China’s forestry industry and has successfully developed during the past 7 years,
Bigger is not necessarily better in private equity
Size really does matter — but not how you think it might, according to one view of the private equity world.
As FTfm reports on Monday, new research from the Edhec-Risk Institute, an arm of France’s Edhec Business School,
Of princelings, turtles and Chinese private equity
It’s all on for “princeling”, “turtles” and even foreign private equity groups in China’s fast-growing buy-out industry, as Carlyle Group on Wednesday unveiled yet another agreement with a Chinese partner — this time to launch a local currency fund focused on smaller company investments.
Carlyle turns sights on Turkey
Carlyle Group has bought a 40% stake in Medical Park Saglik Hizmetleri, a Turkish healthcare group, for an undisclosed price and is in “serious talks” to buy stakes in two more Turkish companies, the US private equity house has said.
Shanks urges Carlyle to improve bid
Shanks Group has received a £535m ($882m) unsolicited takeover approach from Carlyle Group, the US buy-out firm, prompting the UK waste management company and its two top shareholders to call for a sweetened offer.
Carlyle sued by Kuwaiti group
A prominent Kuwaiti conglomerate is suing the Carlyle Group in a local court, alleging that the US buy-out firm misrepresented the safety of its affiliate, Carlyle Capital Corp, a public debt fund that collapsed in March 2008.
Softbank eyes Carlyle’s Willcom
Softbank, Japan’s third-largest mobile phone operator, is a frontrunner in bidding for struggling telecoms firm Willcom, reports Reuters, citing Japan’s Yomiuri newspaper. Willcom, which is being sold by US buy-out firm Carlyle,
Carlyle in China milk powder deal
Carlyle Group on Sunday unveiled a substantial strategic investment in one of China’s top milk-powder producers, underscoring rising foreign involvement in a sector still reeling from recent health scandals.
Carlyle revisits public listing
Carlyle has resumed deliberations about a possible public listing, reports the FT. Although the US buyout firm emphasised that “nothing substantive” had been decided, its interest in an IPO has been signalled in recent weeks by its CFO,
Carlyle sells Taiwan pay-TV business
Taiwan Mobile has agreed to acquire one of the island’s top pay-TV operators from Carlyle Group, in a $1bn cash and stock deal. The takeover of Kbro, which requires regulatory approval, will create Taiwan’s largest provider of phone,
Carlyle in Greek buy-back row
Carlyle Group is locked in a dispute with one of Greece’s richest entrepreneurs over Neochimiki, an Athens-based chemicals distributor which fell into deep loss soon after it was bought by the US private equity group for €749m ($1.06bn) last year.
Carlyle raises $1bn for Asia fund
Carlyle Group announced on Tuesday that its latest growth fund targeting smaller Asian companies had raised $1bn, reflecting continuing investor demand for exposure to China and India. The US buyout group said its fourth Asian growth capital fund was nearly 50% larger than its previous $600m fund.
Buyout firms eye AIG’s Taiwan unit
Carlyle, Primus and MBK Partners may seek to buy Nan Shan Life Insurance, the Taiwanese unit of US insurer AIG, reports Bloomberg. KKR, Affinity Equity Partners, Cathay and Chinatrust have also asked AIG for information about the sale and may take part in a first round of bids scheduled for July 3.
Buyout groups bid for First Republic
US buyout groups Carlyle, Blackstone and TPG are leading an investor group that is bidding to acquire First Republic Bank, a private banking unit of Bank of America, reports Bloomberg. The firms may partner with First Republic chairman James Herbert.
Consortium wins BankUnited auction
A group including investors such as Blackstone, Carlyle, Centerbridge and WLRoss won an auction for BankUnited on Thursday after the Florida lender – worth nearly $13bn by assets – was closed by federal regulators in the biggest US bank failure of 2009.
Carlyle to pay $20m after NY probe
Carlyle Group on Thursday agreed to pay $20m following a probe by Andrew Cuomo, New York attorney-general, into alleged corruption at the state’s biggest public pension fund. The firm also became the
AIG’s aircraft unit draws bids
International Lease Finance Corp has drawn closer to separating from AIG, its troubled parent, with three groups submitting bids to acquire the aircraft lessor for less than $5bn. The groups include a consortium led by Thomas H.
NY bans placement agents
Amid a widening probe into possible kickbacks involving New York’s pension fund, Thomas DiNapoli, the state’s comptroller, announced Wednesday he was banning placement agents from involvement in the fund’s investments,
Carlyle to stop using ‘finders’
US buyout group Carlyle has decided to stop using placement agents to solicit money from public pension funds after the indictment of a New York state political figure to whom it paid $12m in finder’s fees.
Carlyle offers IMO debt deal
The Carlyle Group, the private equity fund, has told creditors it would stump up £25m to keep control of its buy-out of IMO Carwash, in exchange for its creditors writing off debt. It is the second time Carlyle has had to pump money into IMO Carwash and highlights how buyout groups are struggling to keep control of their investments,
Ross and Carlyle eye BankUnited
Two leading forces in the investment industry, distressed asset investor Wilbur Ross and the Carlyle private equity group, are considering a joint bid for BankUnited Financial, a troubled Florida-based bank with $14bn in assets.
Buy-out groups eye Irish banks
Apax Partners has joined a handful of private equity groups running the rule over the cash-strapped Irish banking sector, as the UK-based buy-out house considers a politically sensitive investment in Bank of Ireland.
Carlyle to cut 10% of staff
US private equity firm Carlyle is cutting 10% of its staff in the latest indication of the sector’s vulnerability to financial markets upheavals. Carlyle’s staff cuts, which total 100 people, brings the firm back to where it was in early 2007.
Carlyle pulls out of EM ventures
The Carlyle Group on Monday announced a sudden withdrawal from two of its newest emerging market ventures, closing down its central and eastern European operations and its Asian leveraged finance business just months after their launch.
Carlyle warns on grim outlook
Carlyle Group, the private equity firm, this week warned a group of its investors that they were unlikely to see returns on their money soon. In a message that underlined the swift change in fortunes of private equity groups since the credit crunch,
Details emerge of Informa bid
The cut in the offer price for UK publishing group Informa was driven by Blackstone, as the private equity group flexed its muscles when it joined the consortium bidding for Informa last month. The FT has learnt that Providence Equity and the Carlyle Group were considering a bid at about 475p but Blackstone considered it too high and drove it down to 450p,
Informa rejects consortium offer
The board of Informa on Thursday rejected its second offer in two years, turning down a 450p approach from a private equity consortium led by Providence Equity Partners, saying the price “significantly undervalued”
Snap news
The latest on Thursday,
- RAB Capital announces appointment of Stephen Couttie (formerly COO) as CEO – statement.
- Provident, Carlyle confirm that Blackstone will also be participating in Informa bid consortium – statement.
Blackstone joins Informa fray
Blackstone has joined forces with private equity rivals Providence Equity Partners and the Carlyle Group to mount a joint bid for Informa, the business information group that publishes Lloyd’s List. If successful,
KKR leads race for Lehman assets
KKR is leading the bidding for a controlling stake in Lehman Brothers’ asset management business, while Blackstone Group has backed away, reports Reuters, citing CNBC. Lehman is looking to sell at least part of its asset management business;