Brad Meikle
The debt-laden parent of outdoor advertising company Clear Channel Outdoor Holdings is exploring options for its European outdoor advertising business after receiving offers from private equity firms, according to four people familiar with the matter.
Deal-makers and private equity employees are expected to receive the biggest hikes in bonuses this year on Wall Street, according to a forecast by compensation consulting firm Johnson Associates, according to Reuters news service.
Kohlberg Kravis Roberts & Co, which led the acquisition of oil and gas producer Samson Resources Corp for $7.2 billion in 2011 and has already sold almost half its acreage to cope with lower energy prices, plans to sell its North Dakota Bakken oil deposit worth less than $500 million as part of an ongoing downsizing plan, people familiar with the matter told Reuters news service.
Sharing tips for attracting limited partners to secondary funds, Deutsche Bank’s Carlo Pirzio-Biroli recommends keeping “demonstrable discipline” in investment strategy regardless of fund size and short-term economic indicators.
Sponsors often find foreign governments, including the sovereign wealth funds they oversee, an easygoing source of capital.
A new definition of middle-market funds established by the Association for Corporate Growth sets the stage for a more targeted lobbying effort to try to ease regulation seen as overly restrictive, such as a provision of Dodd-Frank preventing banks from committing money to most buyout funds. But by leaving some big firms behind, the effort poses the risk of giving the industry a less unified voice in Washington, D.C.
Sponsors and strategic acquirers may be battling one another for good companies and corporate divisions, driving up prices as never before. But they haven’t lost their moxie when it comes to negotiating a key element of purchase agreements with targets.
Alternative asset manager Fifth Street Asset Management Inc withdrew its plan to go public, citing volatility for new issuers in equity markets, according to Reuters news service.
A consortium of buyout firms that includes Advent International Corp and Avista Capital Partners is in advanced talks to acquire UCB SA’s U.S. generic drugs unit Kremers Urban Pharmaceuticals Inc, people familiar with the matter told Reuters news service.
The Teachers’ Retirement System of the State of Illinois approved $330 million of commitments to private equity at its Oct. 30 meeting, including $230 million for managers based in Asia and Australia, according to a statement released by the retirement system.