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.
Buyout firms have long been labour union targets. As LPs fall into their sights, it would behoove public pensions to extol private equity’s advantages, writes Amanda Janis.
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 buyout firm is planning another close for its third Europe fund at the end of October, having already held a second close on €4.8bn.
Alternative asset classes were the $154bn New York State Common Retirement Fund’s top performers for fiscal 2007, with real estate returning almost 15 percent. State Comptroller Thomas DiNapoli has indicated legal limits on the pension’s alternative investments should be revisited.
Following a strong half year for the banking giant’s private equity advisory arm, Merrill Lynch has made a series of internal promotions, including Jeff Kaplan’s elevation to global head.
The London- and Paris-based renewables specialist has brought a portfolio of investments under one financing regime provided by German bank Nord/LB. The firm says the refinancing, which extends financing by 16 years, will enhance returns to the fund.
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.
Kravis and partners must be allowing themselves a pat on the back after pushing the button again to go public, writes Nicholas Lockley.
A year after registering for a $1.25bn IPO, Henry Kravis has unveiled his firm's revised plan for a public float, which includes taking over KKR Private Equity Investors and which values the combined firm at up to an estimated $18bn.
The New York firm led by former Warburg Pincus vice chairman Howard Newman has partnered with Australian Stock Exchange-listed Comet Ridge to develop US oil and gas assets. Drilling will commence immediately at the company's Colorado oil field.
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.