The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.
Following the completion of its 19th acquisition this year, the mid-market specialist is lining up the launch of its fourth European fund.
The market responded to an upbeat Lehman Brothers Private Equity Partners update this morning with a marginal increase in the stock price. But shares in the Euronext-listed vehicle are still trading at a discount to net asset value.
3i-owned hedge fund administrator Fulcrum is merging with Butterfield Fund Services to form a combined platform worth $300m. Akshaya Bhargava, 3i’s former industrialist in residence and the current chief executive of Fulcrum, will take the helm at Butterfield Fulcrum Group.
The French alternatives firm has smashed its initial fundraising target of €300m against a difficult market backdrop, a week after selling a stake in the management company to Spanish firm N+1.
Emerging markets private equity fundraising is on track to significantly beat 2007 totals. China and India are driving the boom in Asia, which EMPEA's Sarah Alexander says marks the acceptance of the asset class.
More than 55 leases in the US oil- and gas-producing region are involved in the firms’ Royal Offshore joint venture. The agreement represents Avista’s second multimillion dollar energy exploration deal in the past two weeks, as it continues to deploy its debut $2bn fund.
The UK Government’s emerging markets fund of funds has made commitments to four Chinese funds. It expects these funds to go on to raise a total of $1.7bn from other sources for investment in the region.
The state’s $154.5bn Common Retirement Fund, the US' third largest public pension, has joined a growing list of heavy-hitting LPs lining up for a fund targeting as much as $20bn.
The private equity firm beat its combined target of $6.5bn for the two funds. It is the first time Lone Star has raised separate, side-by-side funds for each investment strategy.
Richard Laing, chief executive of the UK government’s fund of funds investor in emerging markets, says the mission to reduce poverty is central to CDC’s investment thesis. Latest commitments to Indian managers underline the strategy.
The two funds have offered to buy all outstanding shares of TransAlta, a Canadian energy company that recently sold assets to an AIG- and Teachers’ Private Capital-backed portfolio company.
The $108.5bn Canadian pension has elevated seven executives, three of whom lead private equity deals for Teachers’ Private Capital.
The smaller mid-market shop has again closed a fund that was more than two times oversubscribed, more than doubling the size of its previous fund as well as capital under management.
DLJ founder Richard Jenrette is the latest veteran of the investment bank to join the publicly-listed alternative asset manager, re-teaming with former colleague and current Blackstone president Tony James.