Sovereign Wealth Funds Increasingly Testing PE Waters
June 1, 2009 by Joseph McCafferty
Recent losses notwithstanding, sovereign wealth funds still have massive pools of cash. More of them are looking at private equity, including the secondary market, as an increasingly alluring investing option. Moreover, investing via private equity, rather than taking direct stakes in public companies, allows the funds to “fly below the radar,” and hopefully avoid some of the controversy that’s ensued when the funds have taken direct stakes in companies.
June 1, 2009 by Joseph McCafferty
Recent losses notwithstanding, sovereign wealth funds still have massive pools of cash. More of them are looking at private equity, including the secondary market, as an increasingly alluring investing option. Moreover, investing via private equity, rather than taking direct stakes in public companies, allows the funds to “fly below the radar,” and hopefully avoid some of the controversy that’s ensued when the funds have taken direct stakes in companies.
Banks and Buyout Firms: An Uneasy Marriage
June 1, 2009 by Joseph McCafferty
When BankUnited went into Federal Deposit Insurance Corporation (FDIC) receivership on May 21, it didn’t take long for a group of new owners to step up to the plate. The Coral Gables, Florida savings and loan group was picked up by a consortium of private equity heavyweights—including W.L. Ross, Carlyle, and Blackstone. The $900 million price tag may have removed a significant burden off the shoulders of both the FDIC and the American taxpayer, but the ramifications of the PE-bank deal will prove a topic of contention for the many regulators caught in the mix.
June 1, 2009 by Joseph McCafferty
When BankUnited went into Federal Deposit Insurance Corporation (FDIC) receivership on May 21, it didn’t take long for a group of new owners to step up to the plate. The Coral Gables, Florida savings and loan group was picked up by a consortium of private equity heavyweights—including W.L. Ross, Carlyle, and Blackstone. The $900 million price tag may have removed a significant burden off the shoulders of both the FDIC and the American taxpayer, but the ramifications of the PE-bank deal will prove a topic of contention for the many regulators caught in the mix.
Value Creation in Middle-Market Buyouts: A Transaction Level Analysis
June 1, 2009 by Joseph McCafferty
When BankUnited went into Federal Deposit Insurance Corporation (FDIC) receivership on May 21, it didn’t take long for a group of new owners to step up to the plate. The Coral Gables, Florida savings and loan group was picked up by a consortium of private equity heavyweights—including W.L. Ross, Carlyle, and Blackstone. The $900 million price tag may have removed a significant burden off the shoulders of both the FDIC and the American taxpayer, but the ramifications of the PE-bank deal will prove a topic of contention for the many regulators caught in the mix.
June 1, 2009 by Joseph McCafferty
When BankUnited went into Federal Deposit Insurance Corporation (FDIC) receivership on May 21, it didn’t take long for a group of new owners to step up to the plate. The Coral Gables, Florida savings and loan group was picked up by a consortium of private equity heavyweights—including W.L. Ross, Carlyle, and Blackstone. The $900 million price tag may have removed a significant burden off the shoulders of both the FDIC and the American taxpayer, but the ramifications of the PE-bank deal will prove a topic of contention for the many regulators caught in the mix.
AIG Sets Up IPO of Asian Unit
May 26, 2009 by Joseph McCafferty
American International Group (AIG) is moving ahead with its plan to coordinate an initial public offering of its Hong Kong-based life insurance unit.
May 26, 2009 by Joseph McCafferty
American International Group (AIG) is moving ahead with its plan to coordinate an initial public offering of its Hong Kong-based life insurance unit.
Bank Buys Pose Challenge for PE Firms
May 20, 2009
The recent approval by the Office of Thrift Supervision for private equity groups to purchase significant stakes in banks could significantly alter the climate of the industry, though early problems could slow the new development.
May 20, 2009
The recent approval by the Office of Thrift Supervision for private equity groups to purchase significant stakes in banks could significantly alter the climate of the industry, though early problems could slow the new development.
Carlyle Reaches Pension Fund Deal
May 15, 2009 by Joseph McCafferty
Private equity firm Carlyle has reached a deal with the New York attorney general to change how the firm conducts its business with public pension funds, in a decision that will likely change the industry as a whole.
May 15, 2009 by Joseph McCafferty
Private equity firm Carlyle has reached a deal with the New York attorney general to change how the firm conducts its business with public pension funds, in a decision that will likely change the industry as a whole.
BofA and Citigroup in Capital Hunt
May 4, 2009
With the “threat” of additional government funding looming, Bank of America and Citigroup are on a do-or-die mission to raise significant amounts of capital rather than face additional federal ownership.
May 4, 2009
With the “threat” of additional government funding looming, Bank of America and Citigroup are on a do-or-die mission to raise significant amounts of capital rather than face additional federal ownership.
SEC Charges Taiwanese Financier of Fraud
April 28, 2009
It appears the party may be over for audacious financier Danny Pang, who yesterday was formally accused by the SEC of multiple cases of fraud.
April 28, 2009
It appears the party may be over for audacious financier Danny Pang, who yesterday was formally accused by the SEC of multiple cases of fraud.
NY State Pension Fund Bans Use of Middlemen in Private Equity Deals
April 23, 2009 by Joseph McCafferty
The administrator of New York’s state pension fund has cut out the use of middlemen in drawing money from the funds to private equity operations, a move that will likely have a negative impact on cash-strapped private equity groups.
April 23, 2009 by Joseph McCafferty
The administrator of New York’s state pension fund has cut out the use of middlemen in drawing money from the funds to private equity operations, a move that will likely have a negative impact on cash-strapped private equity groups.
Ailing Chrysler May Get New Leadership
April 17, 2009 by Joseph McCafferty
A merger deal between Chrysler and Fiat, facilitated by the U.S. government, would almost certainly result in a clean sweep of Chrysler’s board and chief executive.
April 17, 2009 by Joseph McCafferty
A merger deal between Chrysler and Fiat, facilitated by the U.S. government, would almost certainly result in a clean sweep of Chrysler’s board and chief executive.
Biotech Funding an Uncertain Science
April 3, 2009 by Django Gold
As the credit crisis winds its way around the globe, all industries are learning that no one is isolated from the rise and fall of the modern global economy. This of course includes the relatively youthful realm of biosciences venture, which may not show the same scars from past recessions, but is no more insulated.
April 3, 2009 by Django Gold
As the credit crisis winds its way around the globe, all industries are learning that no one is isolated from the rise and fall of the modern global economy. This of course includes the relatively youthful realm of biosciences venture, which may not show the same scars from past recessions, but is no more insulated.
IndustryWatch: Infrastructure Funds. If You Build It, They Will Come
April 3, 2009 by Joseph McCafferty
The need to upgrade and build physical infrastructure across the globe provides a tremendous business opportunity for companies operating within the sector, as well as the firms that finance them. That’s prompted a number of private equity firms to establish infrastructure funds. In fact, infrastructure funds are one of the few bright spots in a private equity environment that has otherwise been starved by a lack of free-flowing capital.
April 3, 2009 by Joseph McCafferty
The need to upgrade and build physical infrastructure across the globe provides a tremendous business opportunity for companies operating within the sector, as well as the firms that finance them. That’s prompted a number of private equity firms to establish infrastructure funds. In fact, infrastructure funds are one of the few bright spots in a private equity environment that has otherwise been starved by a lack of free-flowing capital.
Interview with Eisner LLP’s Christopher Loiacono
April 3, 2009 by Joseph McCafferty
PEQ had the opportunity recently to sit down with Chris Loiacono, a tax partner and co-chair of the tax advisory services group at accounting firm Eisner LLP. The 16-year veteran of Eisner and private equity fund specialist took us through the current PE landscape, from the dearth of current deals to the few bright spots in the sector.
April 3, 2009 by Joseph McCafferty
PEQ had the opportunity recently to sit down with Chris Loiacono, a tax partner and co-chair of the tax advisory services group at accounting firm Eisner LLP. The 16-year veteran of Eisner and private equity fund specialist took us through the current PE landscape, from the dearth of current deals to the few bright spots in the sector.
Blackstone Turns Down SEC Info Request
March 30, 2009 by Joseph McCafferty
Private equity titan Blackstone has rejected a Securities and Exchange Commission request that the firm publicly disclose its performance.
March 30, 2009 by Joseph McCafferty
Private equity titan Blackstone has rejected a Securities and Exchange Commission request that the firm publicly disclose its performance.
Tax: Carried Interest Legislation Raises Significant Tax Issues for Private Equity
March 24, 2009 by Joseph McCafferty
Carried interests, which form an essential element of business in almost every section of the U.S. economy (real estate, private equity, hedge funds and health care), have been subject to significant legislative proposals over the last two years. President Obama's Budget Blueprint released on February 26, 2009 includes a line item related to taxing carried interest as ordinary income. That could have a profound impact on how private equity gains are structured. Here is a look at potential carried interest legislation at the federal, state and local level.
March 24, 2009 by Joseph McCafferty
Carried interests, which form an essential element of business in almost every section of the U.S. economy (real estate, private equity, hedge funds and health care), have been subject to significant legislative proposals over the last two years. President Obama's Budget Blueprint released on February 26, 2009 includes a line item related to taxing carried interest as ordinary income. That could have a profound impact on how private equity gains are structured. Here is a look at potential carried interest legislation at the federal, state and local level.
Goldman Sachs Granting Loans to Employees
March 17, 2009 by Joseph McCafferty
Some employees of Goldman Sachs may be getting more than a paycheck from their employer, as the bank has started a loan program for its employees whose personal portfolios have been hit hard by the market crash.
March 17, 2009 by Joseph McCafferty
Some employees of Goldman Sachs may be getting more than a paycheck from their employer, as the bank has started a loan program for its employees whose personal portfolios have been hit hard by the market crash.
Private Equity Set to Take IndyMac
December 29, 2008 by Joseph McCafferty
Private equity tycoons are prepared to demonstrate that a bank bailout can come from the private sector as well as from Uncle Sam.
December 29, 2008 by Joseph McCafferty
Private equity tycoons are prepared to demonstrate that a bank bailout can come from the private sector as well as from Uncle Sam.
Telecom Mega-Buyout Deal Goes Bust
December 11, 2008 by Joseph McCafferty
A $41 billion buyout deal, what would have been the largest deal in private equity history, officially collapsed yesterday, as Canadian telecom BCE’s auditors deemed the targeted company insolvent.
December 11, 2008 by Joseph McCafferty
A $41 billion buyout deal, what would have been the largest deal in private equity history, officially collapsed yesterday, as Canadian telecom BCE’s auditors deemed the targeted company insolvent.
Senior Execs Leave EMI Group
December 8, 2008 by Joseph McCafferty
Two senior executives have left EMI Group, the flailing music company that was purchased last year by London-based private equity firm Terra Firma Capital Partners.
December 8, 2008 by Joseph McCafferty
Two senior executives have left EMI Group, the flailing music company that was purchased last year by London-based private equity firm Terra Firma Capital Partners.
Taking Private Strategy to Public Boards
December 1, 2008 by Django Gold
While the rest of the business and financial world frets, private equity has been surprisingly sound over the last year.
December 1, 2008 by Django Gold
While the rest of the business and financial world frets, private equity has been surprisingly sound over the last year.