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Private Equity News

23 April 2010

South Korea’s MBK Partners to sell cable company for $2bn

South Korean private equity firm MBK Partners has put its China Network Systems up for sale and could raise as much as $2bn from the exit, according to a Reuters report.

23 April 2010

Pacific Equity, CHAMP bid for Affinity Equity-owned pallet maker

Australian private equity firms Pacific Equity Partners and CHAMP have advanced to the second round of bidding for pallet maker Loscam, owned by Affinity Equity Partners, according to Reuters.

23 April 2010

Bridgepoint enters exclusive talks for Hobbycraft

European private equity firm Bridgepoint Capital has jumped to the head of the queue for UK arts and crafts retailer Hobbycraft, and is in exclusive talks to buy the company for over £100m, according to the Financial Times.

23 April 2010

SEC accuses Detroit PE firm of fraud

Onyx Capital Advisors, a firm that invests in small and medium enterprises in the Midwestern and Southeastern US states, has been charged with fraudulently stealing $3m from Detroit pension funds, in the latest scandal to taint the private equity asset class.

23 April 2010

New York, Maryland comptrollers in Permira protest

The comptrollers of two US states have joined a chorus of protest over a possible factory closure by Permira portfolio company Hugo Boss.

23 April 2010

Permira’s Hugo Boss in factory closure u-turn

Hugo Boss has given in to heavy protesting and made a u-turn on its decision to shut an Ohio factory that would have seen its 300 workers out of a job.

22 April 2010

Blackstone bounces back with $360m Q1 net income

US private equity firm Blackstone has beat estimates for the first quarter of 2010 with earnings of $360m, compared to a loss of $82m during the same period in 2009. Reporting positive results across all divisions, the firm posted fee revenues of $99m, and claims that export and credit markets were on the rise and investor appetite for risk was returning.

22 April 2010

IPO scrapped as TPG buys out tyre distributor

US buy-out house TPG Capital is set to take control of American Tire Distributors, a distributor of replacement tyres to local, regional and national retailers, in a $1.3bn acquisition.

22 April 2010

WHEB Ventures raises £100m for second cleantech fund

European private equity firm WHEB Ventures has announced the fourth closing of its second clean technology fund on £100.3m (€115.5m) and anticipates its final close before the end of May.

22 April 2010

GIP promotes Rao to partner, makes two new hires

Global Infrastructure Partners, a shareholder in the UK’s Gatwick airport, has made a number of personnel changes, chiefly the promotion of Raj Rao to partner.

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