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Private Equity News

23 April 2010

Origo signs MoU with Xinxiang government for cleantech PE fund

Origo Partners, an AIM-listed private equity firm focused on China-linked core economic growth opportunities, has signed a memorandum of understanding with Chinese authorities for the formation of a yuan-denominated fund that will invest in the cleantech sector.

23 April 2010

IMF bail-out tax to hit private equity firms across the globe

Private equity firms could face a potentially huge drain on their profits as a result of proposals by the International Monetary Fund to help offset the cost of the bail-out and stock up reserves for any future shocks, according to reports.

23 April 2010

Blackstone defends Goldman amid fraud charges

As Goldman Sachs detractors take shots at the investment bank amid allegations from the US Securities Exchange Commission that it behaved fraudulently in putting together subprime mortgage investment products that were predestined to fail, US private equity firm Blackstone has jumped to its defence.

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.

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