RSS feedcarlyle
’Carlyle chairman Gerstner to retire
Carlyle Group, one of the world’s largest private equity firms, said Tuesday that chairman Louis Gerstner will retire and become a senior adviser to the company’s buyout funds, reports Reuters. Gerstner,
Blackstone in talks over Informa bid
Private equity firm Blackstone is in talks to team up with rivals Providence and Carlyle to mount a joint bid for Informa, publisher of Lloyd’s List, reports the Daily Telegraph. The talks come as Providence and Carlyle move to secure the financing for the takeover.
Carlyle sells steel group for $3.5bn
The Carlyle Group agreed Tuesday to sell John Maneely, a US manufacturer of steel pipes and tubes, to Russian steelmaker Novolipetsk Steel for $3.53bn, ending a two-year turnround process. Carlyle has voluntarily filed to have the deal reviewed by the CFIUS panel,
Buyout firms eye bank stakes
Key private equity executives believe they have found ways to overcome US rules that bar investors who hold more than 24.9% of a bank from owning other kinds of companies. The rules were originally aimed at prevent conglomerates taking control of banks but with banks trading at historically low valuations,
Carlyle acquires 48% of Moncler
Carlyle Group has acquired a 48% stake in high-end Italian sportswear maker Moncler, in a sign that private equity hasn’t lost its appetite for luxury goods despite global economic turmoil that has sapped consumer spending and tightened lending,
Carlyle Group set to close hedge fund
The Carlyle Group is shutting down its hedge fund business – pulling the plug after losses last year and a disappointing performance this year. The US private equity firm had a substantial minority stake of about 40% in Carlyle-Blue Wave Partners Management,
Dubai fund, Blackstone, pursue Informa
A Dubai sovereign wealth fund has teamed up with Blackstone and others aiming to buy Informa from under the noses of a rival private-equity consortium, reports the FT. Providence Equity Partners, Carlyle and up to recently,
Carlyle admits defeat in Xugong tie-up
Carlyle Group admitted defeat on Tuesday in its controversial three-year battle to make a significant investment in one of China’s leading machinery makers. A listed company connected to Xugong Group Construction Machinery told the Shenzhen stock exchange Tuesday night that XGCM would not pursue the planned tie-up,
Informa eyes up £3.4bn deal
Informa has received a tentative 506p-per-share approach from a buyout consortium which would value the UK trade fairs and scientific journals business at £3.4bn including debt, the company said Tuesday night.
Fed may ease rules on bank buy-outs
The Federal Reserve is considering easing rules to enable private equity firms to take large stakes in banks without being subject to existing restrictions and commitments, as part of efforts to encourage capital-raising in the troubled US financial system.
Providence, Carlyle line up Informa cash
Providence Equity Partners and Carlyle Group have lined up about £1.85bn in bank financing for a possible bid for Informa, which could value the UK events and journals business at 450p-500p a share. The proposed bid,
Goldman lined up to fund Informa bid
Market sceptics have done a pretty good job of talking down the price of publishing and exhibitions group Informa after rival United Business Media terminated merger talks earlier in the week. Down 9 per cent on Wednesday,
Informa slides on bid finance fears
Shares in Informa fell almost 9% on Wednesday after talks between Informa and rival UK business publisher UBM collapsed and investors expressed doubts about the ability of private equity suitors to finance a bid for Informa.
New bidder emerges for Informa
Talks on a merger between UK media groups United Business Media and Informa collapsed Tuesday after Informa said it had received an approach from a third party, thought to be a private equity bidder or bidders,
De La Rue sells unit to Carlyle
De La Rue, the world’s largest banknote printing company, said Monday it would sell its cash systems business to Carlyle Group for £360m. The US buyout firm saw off rivals in an auction of the cash systems business,
Carlyle Group to reveal Citibank hire
Carlyle Group is Monday expected to announce the hiring of one of Citibank’s most senior executives in Asia to spearhead its regional investments across the financial services sector. Sunil Kaul, president of Citibank Japan and a member of Citi’s global management committee,
Buyout groups circle Informa
Investors on Monday greeted news of a proposed merger between United Business Media and Informa as a credible combination of two complementary business media groups. Shares in UBM rose 2% to 618p Monday while Informa’s shares shot up 13.3% to 437½p as investors bet the nil-premium proposal may flush out a private equity offer.
KKR wins bid for Singapore’s Unisteel
Singapore disc drive component maker Unisteel on Saturday said it has agreed to be bought by buyout firm KKR for $575m, reports Reuters. Unisteel said KKR has offered to pay S$1.95, or S$785m for the company,
Carlyle in frame for De La Rue deal
US buyout firm Carlyle has emerged as one of the contenders to buy bank note printer De La Rue’s Cash Systems business, reports the Daily Telegraph. De La Rue admitted for the first time that its board was exploring the sale of Cash Systems,
Carlyle sets up CLO funds
Carlyle sent a strong signal that private equity firms see value in the credit markets, putting together two funds – totalling almost $1bn – to buy bank loans and package them into collateralised loan obligations.
US buy-out groups in TheFaceShop race
Carlyle Group, Bain Capital and Advantage Partners were picked to submit final bids for South Korean cosmetics maker TheFaceShop, reports Bloomberg, citing people familiar with the matter. CCMP Capital Asia also made the shortlist to bid for the Seoul-based company being sold by Affinity Equity Partners and SK Chemicals may join the bidding.
Carlyle’s distressed bet
Carlyle Group isn’t standing still. Moving on from the “biggest embarrassment in its 20-year history” as the WSJ says, the private equity house has just closed a $1.35bn fund to capitalise on other firms’ financial embarrassments.
Private equity funds in marketing blitz
Private equity funds are responding to harder times with sharper-edged marketing strategies that feature comparisons to differentiate – and elevate – themselves from their competitors. Such campaigns have been on display recently as firms including KKR and Apollo have tried to reassure investors worried about the impact of credit market turmoil on the LBO business.
Carlye Capital shareholders vote
Investment company Carlyle Capital Corp said Sunday its shareholders have voted unanimously in favour of a compulsory winding up, reports Reuters. The company said it will now start winding up and sell its remaining assets under Guernsey law.
Carlyle fails to save $22bn CCC fund
David Rubenstein, co-founder of the Carlyle Group, on Thursday pledged to compensate investors hit by the collapse of a $22bn MBS fund that the buy-out group floated seven months ago. After futile talks with banks to rescue Carlyle Capital Corp,
Fears mount over Bear Stearns’ exposure
Shares in Bear Stearns continued their sharp decline on Thursday as investors grew increasingly worried about the investment bank’s exposure to Carlyle Capital and other troubled investment funds. The fear is that Bear will end up seizing collateral in the form of MBS from Carlyle and other funds that it will then be unable to sell,
Weekend catch-up…
In case you missed these FT stories:
Carlyle faces more margin calls
The confrontation between the Carlyle Group and its bankers intensified on Friday as the buy-out group’s Amsterdam-listed fund,
Hedge fund woes roil markets
Fears over the health of the financial system intensified on Thursday as forced selling and margin calls at hedge funds sparked acute stress in many areas of the fixed income markets. Equity investors also reacted to the strains,
Carlyle unit misses margin calls
Carlyle Capital Corp on Thursday became the latest casualty of the toughening attitude among banks towards even the largest private equity funds when the highly leveraged mortgage-backed securities fund said it had failed to meet margin calls from some of its lenders.
Lina Saigol: Why buy-outs will become (even more) expensive
When the credit crunch ends, should investment banks go back to financing private equity deals as well as advising on them?The numbers suggest not. Over the past five years, the world’s biggest banks have earned almost $67bn in fees from bankrolling the buy-out funds,