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Carlyle Group has secured private credit financing to acquire a majority stake in Australian waste management company Waste Services Group (WSG), according to a report by Bloomberg, citing sources familiar with the matter. The funds will support Carlyles purchase of the stake from Livingbridge, the anonymous source said.
The potential move comes as private equity firms look to exit older investments after a period of slowed deal-making, largely due to high interest rates that have increased the cost of financing leveragedbuyouts. Insight Partners initially acquired Diligent for $624m in 2016, taking it private from the New Zealand stock exchange.
The report cites unnamed sources familiar with the matter as revealing that the new fund will provide senior secured loans to finance European leveragedbuyouts. The firm was founded in 2016 by former Canada Pension Plan Investment Board executive David Allen.
Invested £93 million in a debt facility to Vårgrønn, owner of a 20% stake in Dogger Bank Wind Farm, which is an offshore wind farm currently under construction, located off the coast of the U.K. LongPoint Minerals, LLC and LongPoint Minerals II, LLC acquired their assets between 2016-2021. KSI”), owned by MLSE Chair Larry Tanenbaum.
Private equity fundraising has faced headwinds, with high borrowing costs dampening institutional investors appetite for leveragedbuyouts. Blackstones 2020 buyout fund ranked in the bottom quartile among peers based on internal rate of return, according to MSCI data as of September 2024.
So, I graduated from business school in 1987 and went to GE Capital for two years, financing leveragedbuyouts. I mean, you know, I probably shouldn’t have been doing it because I had been a journalist covering public schools and knew nothing about leveragedbuyouts. And I actually started out of business school.
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