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The privateequityfirms aim to refinance or reprice Adevintas existing 4.5bn debt and may raise an additional 2bn, potentially for a shareholder dividend, according to sources familiar with the matter. The firms acquired Adevinta in 2023 in one of Europes largest leveragedbuyouts backed by private credit.
Insight Partners, Blackstone, and Clearlake Capital, the joint owners of Diligent Corporation, are considering strategic options for the corporate governance software provider, including a potential sale that could value the business at around $7bn, including debt, according to a report by Reuters.
Investment banks, which faced significant losses on risky merger and acquisition (M&A) loans due to a spike in global interest rates, are now aggressively returning to the leveragedbuyout (LBO) market — one of the most profitable sectors in finance, according to a report by Bloomberg. Lending limits have also increased.
and Deutsche Bank AG are also among the lenders considering a role in funding what would be the largest leveragedbuyout of the year so far, according to the people, who asked not to be identified discussing the transaction. has been leaning toward a financing package provided by banks for its potential buyout of Cotiviti Inc.
The company specializes in an instrument called venture debt -- or loans made at high interest rates. Generally speaking, during the early days of a start-up , founders will raise money from venture capital or privateequityfirms in exchange for equity. Hercules Capital: 11.5% Horizon Technology Finance: 9.9%
The direct-lending funds, one in euros and the other in dollars, are targeting capital from institutional investors for a fixed term, said the people, who aren’t authorized to speak publicly on private matters. Blackstone Credit and other major privatedebt managers such as Ares Management Corp.
Privateequityfirms including Advent International and Blackstone are approaching both banks and private lenders over debt packages of around €7.5bn ($8.16bn) to help finance a potential acquisition of Sanofi’s consumer health division, according to a report by Bloomberg.
billion) for a credit fund for Australia and New Zealand, as it seeks to capitalize on opportunities created by banks retreating from leveraged lending. The Ares Asia Direct Lending fund, the company’s first leveragedbuyout vehicle for the region, has deployed over A$1.04 as it was delisted by privateequityfirm TPG Inc.;
Private credit lenders and banks are vying to offer debt financing for a potential acquisition of US education software provider PowerSchool Holdings, according to a report by Bloomberg citing people with knowledge of the matter.
In the aftermath of a rejected offer for EY’s consulting business, US privateequityfirm TPG has signed a definitive agreement to acquire a majority stake in Crowe’s healthcare consulting unit. The firm was founded in 1992 and manages assets and investments totaling $139bn.
Blackstone, the world’s largest privateequityfirm, has turned to direct lenders to help finance its $2.3bn acquisition of Rover Group, the world’s largest online marketplace for pet care, with the firm seeking about $250m of privatedebt, according to a report by Bloomberg.
Today we are featuring the 25 Most Active PrivateEquityFirms on the Axial platform. ” Industries: Technology, Manufacturing, Business Services, Distribution, Healthcare Visit Baymark’s Profile “Pfingsten is an operationally-driven privateequityfirm focused on long-term value creation.
The company typically supports start-ups that have raised funding from venture capital or privateequityfirms and are looking to augment the balance sheet with some debt. What can make debt an optimal solution in fundraising is that, unlike equity, it doesn't dilute existing shareholders.
Global private investments firm Apollo Global Management has set its sights on doubling its assets under management to $1.5tn by 2029, positioning itself as a major player in global debt underwriting, according to a report by the Financial Times. We are just at the beginning of this trend.”
It specializes in an investment vehicle called venture debt. Typically, a start-up will raise funds during its early days from venture capitalists (VC) or private-equityfirms. In exchange for capital, founders will give up equity in their company. Hercules Capital: 10.3% This is where Hercules can add value.
His practice focuses on advising privateequityfirms and other financial institutions on transactions including leveragedbuyouts, venture and growth capital investments, joint-ventures and co-investments, opportunistic and distressed acquisitions, take-privates and carve-outs, across the investment lifespan through to exit.
But Ares executives insist their firm remains steadfast in its goal of offering institutional investors more than just privatedebt. Yet even there, private credit plays an outsize role. Even the language spoken by Ares executives suggests this is a firm where private credit is the prime mover. percent.
Global law firm Ropes & Gray has named 12 of its existing attorneys as the firm’s latest Partners, effective 1 November, including several whose practices cater for privateequity and other private credit and private fund clients. She brings a deep understanding of technology and consumer brands.
Recently, however, the stock has been on an upswing, climbing nearly 62% from its low of $38 in this past October amid rumors of a potential buyout by a privateequityfirm. billion in cash and only $835 million in debt. DocuSign also saw a staggering 565% year-over-year jump in free cash flows to $240.3
Paula Sambo of Bloomberg reports Canada pension fund's credit head wants to take advantage of leveragedbuyout boom: Canada’s largest pension fund plans to nearly double the size of its credit holdings over the next five years, and it’s counting on an upturn in leveragedbuyouts to generate some of that growth.
The Fed’s moves to combat inflation put privateequityfirms in a tricky situation. As the global economy continues to evolve and face new challenges, privateequityfirms will need to remain adaptable, focusing on sectors and strategies that demonstrate resilience and long-term growth potential.
For decades the privateequity model seemed unassailable, transforming the industry’s image from Barbarians at the Gate to crucial pillar of capitalism. Funds raised money, bought businesses, loaded them with debt, exited at a profit and convinced happy investors to do it all over again — at ever greater scale.
They’re one of the older privateequityfirms around, been been in business since 1994. There aren’t a lot of companies, and there aren’t a lot of people that have the historical perspective on the rise of privateequity like Michael Fish does. And now we call it the privateequity industry.
Victor has had a fascinating career, stood up the distressed debt department at Citibank before doing the same thing at Merrill Lynch a few years later. He also spent time at Sebus and More Capital before launching his own firm in 2001. Really just a fascinating person who has seen the distressed debt business from day one.
He is the person who essentially stood up the LBO department at Goldman Sachs when essentially there were half a dozen or so privateequityfirms in the country. They grew a business where they issued junk debt. KLINSKY: In 1979, it was the first leveragedbuyout of a public company. KLINSKY: Yeah.
So, when I was in graduate school, I thought about all the different types of investing or advisory work I could do, and I, you know, really triangulated on distressed debt being the most interesting part of the, of the markets where I could participate in PWA Capital. Ritholtz ] 00:03:30 Yeah, Sandberg is a fascinating guy.
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. based privateequityfirm focused on buyout and growth opportunities. Based in the U.S.,
The turnaround attempt isn't working out, and management has reportedly talked to privateequityfirm Sycamore about a leveragedbuyout. billion of long-term debt. billion of long-term debt. This juicy dividend is not connected to a slam-dunk turnaround effort.
Privateequity giant Carlyle Group is pursuing at least AUD500m ($324m) in debt financing to support its acquisition of Waste Services Group, an Australian waste management firm, from Livingbridge EP, according to a report by Bloomberg. A Carlyle spokesperson declined to comment on the matter.
Turn/River Capital agreed to acquire IT management software provider SolarWinds in a $4.4bn transaction, marking a significant move amid improving conditions for debt-funded acquisitions. The acquisition reflects a growing trend of privateequityfirms re-entering the leveragedbuyout market as borrowing costs stabilize.
The current book is called “These Are the Plunderers, How PrivateEquity Runs and Wrecks America” That’s a little bit of a sensationalistic headline. When we spoke, the focus and conversation really emphasizes the largest of the large privateequityfirms. Did that change the game going forward?
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up It’s also responsible for two of the three biggest takeovers announced by investment firms globally this year. the world’s largest owner of intermodal shipping containers, for $13 billion including debt.
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. RITHOLTZ: From the equity side or the debt side?
Passing that milestone puts the firm in the same league as mutual fund behemoths and banking giants. Privateequityfirms have sought to join a special club: managing $1 trillion in assets, a milestone that would put them in the same league as mutual fund behemoths like BlackRock and Fidelity and banking giants like JPMorgan Chase.
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