Steve Gelsi
With equity prices in a tailspin at the end of the summer, Blackstone Group’s decision to scrap an IPO in favor of a sale of materials maker Avintiv to Berry Plastics for $2.45 billion looks pretty smart.
LPs have pumped $22 billion into infrastructure funds since 2014, chastened by some big failures following the global financial crisis.
Five Questions with Jim Gasperoni, Partner, FLAG Capital Global Real Assets Program
Huge swings in global equities are expected to cause sponsors to tread more cautiously on acquisitions, initial public offerings and stock sales, while financial forecasters mull the impact of weakness in China’s economy on world growth.
Aberdeen Asset Management continues to look for acquisition opportunities to continue its global build-out of its investment platform that includes private equity, hedge funds and venture capital, an executive at the London firm said recently.
BP Energy Partners, the Dallas firm sponsored by energy investor T. Boone Pickens, closed on $146 million out of a $500 million target for BP Natural Gas Opportunity Partners, during a time of lower energy prices, according to a filing.
Cinven is readying a formal fundraising effort this fall for its sixth flagship fund, targeting about 5 billion euros ($5.5 billion) with about half of the commitments expected to come from U.S. limited partners seeking access to European buyouts, according to two sources familiar with the firm.
Goodwin Procter is looking for more private equity legal talent in San Francisco after growing its Bay Area office to more than a dozen senior staffers in the past couple of years.
Wilton Holdings, backed by TowerBrook Capital Partners and GTCR, completed a $514 million exchange of holding company payment-in-kind (PIK) notes into preferred equity, earning the craft supply company an upgrade from Standard & Poor’s Rating Service. But the company faces challenges down the road with its projected debt load of $1.3 billion, S&P noted.
Bain Capital paid an undisclosed sum for a minority stake in Sundial Brands with former Massachusetts Governor Deval Patrick taking part in the deal as he transitions from public life to a private equity rainmaker at the Boston firm.