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Private Equity

Exclusive: Large Private Equity Consortium Forms For Arconic Bid - Sources

by firstpost.com posted 2months ago 34 views
By Harry Brumpton and Joshua Franklin (Reuters) - Blackstone Group LP, Carlyle Group LP, Onex Corp and Canada Pension Plan Investment Board have joined forces in a bid to acquire aluminum products maker Arconic Inc, according to people familiar with the matter. Such alliances, referred to as "club deals" in the private equity industry, lost much of their allure following the 2008 financial crisis, as some high-profile leveraged buyouts either ended up in bankruptcy or underperformed financially.