Entries tagged "LBO"

Hiring for return of PE, smaller LBOs

With the crunch easing and markets appearing to stabilize, private equity seems to be back, gearing up for deals.

PE firms eye Chinese retailers

In China buyout shops are busy grabbing minority stakes in retailers within the world's most populous country.

Clear Channel hears bankruptcy's song?

Although broadcaster Clear Channel discounts bankruptcy chatter, the PE-owned company's debt load worries research firm CreditSights.

Huntsman's LBO back to bite banks

Huntsman is suing Credit Suisse and Deutsche Bank for $8 billion for refusing to finance the company's 2007 LBO.

Is Chrysler PE's worst deal ever?

With its investment in the carmaker washed out, how do Cerberus' losses stack up alongside other PE disasters?

Private equity fundraising blooms in April

Private equity firms have raised nearly $24 billion in new capital commitments thus far this month.

Carlyle's Rubenstein on private equity's sexy side

Speaking at a conference, the co-founder of the Carlyle Group said leveraged deals were like a roll in the hay -- far too good to pass up.

Has the 3i stock sell-off gone too far?

As a listed, private equity management company with a long tradition of investing off its own balance sheet as well as managing LP's funds, London's 3i Group plc is a bellwether for the much less transparent flock of truly "private" private equity houses hiding their current troubles. That's why the sudden collapse of its share price this week to reach an all-time low of 234.75 pence in early trading Wednesday (before recovering to close to 260 pence by midmorning) has crystallized the fears of investors. 3i's most recent figures were issued in November. Yet with little new information, the shares...

Private equity pink slips hit Europe

Private equity's woes are beginning to translate into European job losses. The Financial Times reports that 3i Group plc is about to ax some 15% of its staff -- or about 100 people -- mainly in marketing, human resources and back-office functions, and about half will be in the U.K. 3i spokespeople were not immediately available for comment. But at other places the defenestration is happening at an altogether higher level. Highest of the lot are the reported axings of Terra Firma Capital Partners' appointees to EMI Group, Chris Roling and Ashley Unwin....

Leverage isn't what it use to be

Speaking at Jordan Edmiston Group Inc.'s Growth Conference at the Four Seasons hotel in New York on Thursday, Jeffrey Stevenson, managing partner and co-chief executive officer of media buyout firm Veronis Suhler Stevenson, said, "Three is the new six." Stevenson was referring to the leverage multiples on private equity buyouts, as already-taut credit markets cinched even tighter in recent months. ...

Going out of business: Linens 'n Things throws in the towel

Now that you need a bigger mattress to hide your life's savings, maybe it's time to stock up on new sheets. If so, then head over to bankrupt Linens 'n Things Inc. stores for its liquidation sale, which will begin Friday. The Clifton, N.J.-based retailer was forced to liquidate after it failed to find a buyer -- much to the dismay of its private equity owner Apollo Management LP. ...

Breaking: Hexion-Huntsman would be an insolvent combo

Hexion Specialty Chemicals Inc. CEO Craig Morrison pulled no punches when he testified as the first witness in the case Huntsman Corp. brought against his company saying Hexion and Huntsman would have "a capital structure that's insolvent, that doesn't work." Huntsman filed suit against rival Columbus, Ohio-based Hexion, which is seeking to walk from its $10.3 billion agreement to acquire rival specialty chemical maker Huntsman. The trial is scheduled to run for six days before Vice Chancellor Stephen Lamb of the Delaware Court of Chancery. ...

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