Brad Meikle
Underwriters are facing another problem when backing leveraged buyouts – and this time it’s not regulators but unpredictable debt markets, reports Thomson Reuters IFR magazine.
(Reuters) - Whichever candidate wins the pitched battle for Illinois governor on Tuesday faces the prospect that the state supreme court next year could toss hard-fought changes to the woefully underfunded state pension system.
Seven Generations Energy Ltd is poised to raise C$810 million ($724.31 million) via an initial public offering that priced at the lower end of a previously anticipated range, according to regulatory documents.
Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday, as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets.
The parent company of yearbook and class ring maker Herff Jones is close to selling itself to a private equity consortium led by Charlesbank Capital Partners for about $1.5 billion, people familiar with the matter told Reuters news service.
Excelitas Technologies Corp, a provider of lighting and sensor components to the health and defense sectors, is exploring a sale it hopes will value it at least $2 billion, including debt, people familiar with the matter.
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TPG Capital Management LP has hired investment bank Lazard Group LLC to sell Australian gas and electricity retailer Alinta Energy in a deal worth about A$4 billion ($3.54 billion), three sources close to the transaction told Reuters news service.
The Carlyle Group reported a 15 percent drop in third-quarter pretax profit on Wednesday, as a halt to a stock market rally led to its private equity funds appreciating at a slower pace than a year ago, according to Reuters news service.
The U.S. Securities and Exchange Commission is examining how private equity firms report a key metric of their past performance when they market new funds to investors, as the regulator boosts its scrutiny of the industry, people familiar with the matter told Reuters news service.