Steve Bills
Publicly traded private equity firms continue to focus on credit strategies and diversification in their portfolios, a review of their decidedly mixed first-quarter results showed.
A surprising new source of financing is quietly emerging for mid-market deals—high-yield bond facilities, says James Stone, a managing director at Gleacher & Co. For most of the past decade, high-yield has been the province of larger issuers, companies typically raising $300 million or more in a facility, said Stone, who focuses on financial sponsor […]
Tax reform does not appear to be going anywhere fast in Washington, D.C., although that hasn’t stopped private equity’s lobbyists from pushing to protect the deductibility of interest payments. The nominee for an influential Treasury Department post said today the Obama administration is not actively working on a plan to revamp the tax code. “We’d […]
Coming off a hefty capital raise, the fledgling financial consultancy Accordion Partners is planning to mount an expansion plan, said Nick Leopard, the CEO of the 2.5-year-old firm. The New York-based firm announced in April that it had raised the money from a group of institutional investors and high-net-worth individuals, Eagle Proprietary Investments Ltd, a […]
An uncooperative economy and a handful of failed deals have put pressure on MidOcean Partners, potentially imperiling the New York buyout shop’s ability to raise its next fund.
A controversy over insider dealings at Chesapeake Energy Corp. could cast a pall over the natural gas driller’s ties to Kohlberg Kravis Roberts & Co. The New York buyout firm announced in March that it had formed a partnership with Chesapeake to invest in oil and gas projects around the United States. Under the deal, […]
Recent credit downgrades to a portfolio company may indicate that Hellman & Friedman LLC may have jumped too soon into the building supply industry, which remains sluggish after the financial crisis that began in 2008. The housing sector, typically a leader in economic recoveries, has struggled since the financial crisis. S&P said its economists are […]
Buyout pros who are seeking turnaround situations to work with might consider companies with consumer-facing businesses, suggests David Williams, the CEO of Deloitte Financial Advisory Services LLP. “To the extent that they are dependent on consumer discretionary spending, they are experiencing some down times right now,” said Williams, whose unit of Deloitte LLP, the Big […]
Firm: Leonard Green & Partners LP Fund: Green Equity Investors VI LP Target: $5 billion Amount Raised: $5.8 billion Los Angeles buyout shop Leonard Green & Partners LP appears to be set to comfortably top its target on Fund VI. The firm has collected $5.8 billion in commitments from investors for Green Equity Investors VI […]
It depends how you look at it: Equity contributions in LBO deals continued to grow in the first quarter of 2012, as did the multiples on deal pricing, when compared to the same period a year ago, according to Standard & Poor’s Leveraged Commentary and Data, perhaps reflecting a progressive strengthening of the deal economy.