SYDNEY -- A bidding war over Australian casino operator Crown Resorts heated up further on Monday with U.S. private equity group Blackstone raising its offer while domestic rival Star Entertainment Group jumped into the fray with its own proposal. The interest from Blackstone and Star as well as U.S. private equity group Oaktree Capital comes even as two of Crown's three casinos are shuttered and regulatory probes cloud their future. On Monday, a royal commission in Perth began hearings into whether Crown is fit to retain its state gaming license in Western Australia.
Australia's Casino Operator Star Makes $9.4B Play For Crown, Taking On Private Equity Giants, Companies & Markets News & Top Stories - The Straits Times
May 10, 2021 8:33 AMSYDNEY (REUTERS) - Australia's No. 2 casino operator Star Entertainment Group on Monday (May 10) proposed a A$9 billion (S$9.4 billion) buyout of larger rival Crown Resorts Ltd , vying with two private equity giants for control of the troubled target.
Blackstone Group is elevating a number of longtime staffers to new leadership roles in its main private equity business, in a sign of the growing heft of the unit in which the investment giant cut its teeth 36 years ago.
Summary List Placement Solomon has steered the bank to blowout profits and a record stock price. But with partners quitting and burnout soaring, some insiders say the executive's hard-charging style has come at a cost. Every summer when he was running Goldman Sachs' investment banking division, David Solomon assembled his top lieutenants for two days of off-site meetings. The gatherings served as a forum for executives, in the language of house renovation, to strip the business down to its studs. As executives began to rebuild, Solomon cast a critical eye, said a person familiar with many of the reviews.
With public markets hitting new record highs, buyout firms are reporting LBO returns not seen since the 1990s. Their stocks, which once badly lagged the S&P 500, are beginning to beat the market.
The Co-op Bank announced on Wednesday that two US private equity companies have agreed to buy a minority stake in the company from an existing investor. JC Flowers and Bain Capital Credit collectively bought a 10.01% stake of class A shares from BlueMountain Capital -- a hedge fund where current Barclays (BARC.L) chief Jes Staley was once a managing director. The transaction, which also gives the pair access to 12.05% of B shares, remains subject to regulatory clearance.
CHICAGO, April 27, 2021-- Growth Catalyst Partners ("GCP"), a leading middle market private equity firm that focuses on investments in rapidly growing information, marketing and tech enabled services businesses, today announced promotions of James O'Callaghan, Connor Dawson and James Nally to the position of Managing Director and Patrick Duffy to the position of Vice President. "Our firm's success relies on exceptionally talented investment professionals who work together flawlessly as a team. We have established eight platform companies across 34 acquisitions and are nearing completion of our Fund I equity deployment.
The Museum of Modern Art on Tuesday praised its outgoing billionaire chair Leon Black, who recently resigned amid controversy over his ties to dead pedophile Jeffrey Epstein. MoMA Director Glenn Lowry in a Tuesday afternoon email to trustees announced the election of Marie-Josee Kravis -- the wife of Black's rival, leveraged buyout baron Henry Kravis...
Equistone Partners Europe completed the management buyout of WHP in 2018.: A private equity-backed telecoms business in Warrington, which works with the likes of EE, 02 and BT, has acquired its third business in the last month. Founded in 2004 by Alex Welch and Matthew Riches, with Kevin Doncaster joining as director in 2005, ICS Group has grown into a telecom rigging installations and design company with headquarters in Braintree, Essex and a regional office in Cambridgeshire.
Bain Capital Weighing Bid To Take Toshiba Private: Sources, Companies & Markets News & Top Stories - The Straits Times
April 21, 2021 2:16 PMHONG KONG (REUTERS) - Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said.