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Jul 28, 2014

FleetCor, buyout firms eye $3 billion-plus deal for Comdata: sources

NEW YORK (Reuters) – FleetCor Technologies Inc and buyout firms including Carlyle Group LP and Silver Lake Partners LP are vying to acquire payments processing company Comdata Inc for more than $3 billion, according to people familiar with the matter.

Discussions about a potential sale come after Comdata, owned by Thomas H. Lee Partners LP and Fidelity National Financial Inc, said in April it had confidentially filed for an initial public offering.

Jul 28, 2014

Exclusive – CVC in lead to buy Epicor for more than $3 billion: sources

NEW YORK (Reuters) – Private equity firm CVC Capital Partners Ltd has emerged as the front runner to acquire Epicor Software Corp in a deal that could value the business software company at more than $3 billion, including debt, according to people familiar with the matter.

CVC has so far prevailed over other buyout firms in the auction for Epicor, which is currently owned by private equity firm Apax Partners LLP, the people said on Monday.

Jul 28, 2014

CVC in lead to buy Epicor for more than $3 bln -sources

NEW YORK, July 28 (Reuters) – Private equity firm CVC
Capital Partners Ltd has emerged as the front runner to acquire
Epicor Software Corp in a deal that could value the business
software company at more than $3 billion, including debt,
according to people familiar with the matter.

CVC has so far prevailed over other buyout firms in the
auction for Epicor, which is currently owned by private equity
firm Apax Partners LLP, the people said on Monday.

Jul 28, 2014

Carlyle nears $5 billion deal for Acosta: source

NEW YORK (Reuters) – Carlyle Group LP (CG.O: Quote, Profile, Research, Stock Buzz) is in advanced talks to acquire Acosta Sales and Marketing, in a deal that could value the consumer goods marketing agency at close to $5 billion including debt, a person familiar with the matter said on Monday.

Carlyle, a Washington, D.C-based buyout firm, is in the final stages of negotiating the deal with Acosta’s current private equity owner, Thomas H. Lee Partners LP, and could secure an agreement as early as this week, the person said.

Jul 24, 2014

KKR’s second-quarter asset sales yield record payout

NEW YORK (Reuters) – Private equity firm KKR & Co LP (KKR.N: Quote, Profile, Research, Stock Buzz) said on Thursday that its second-quarter earnings more than tripled year-on-year, exceeding most analysts’ expectations, as a string of lucrative asset sales led to its highest dividend on record.

Like its alternative asset manager peers, KKR has taken advantage of the rally in equity and debt markets to sell some of its companies at high valuations. In April, it also acquired a specialty finance company it previously managed after agreeing to pay out that company’s income as dividends.

Jul 18, 2014

Blackstone, KKR, TPG in talks to settle deal collusion lawsuit -sources

July 17 (Reuters) – Blackstone Group LP, KKR & Co LP
and TPG Capital LP are in talks to settle a U.S. lawsuit
accusing them of conspiring not to outbid each other and other
buyout firms on takeovers of companies, two people familiar with
the matter said on Thursday.

Details of the talks could not immediately be learned. If
all three firms settled, Carlyle Group LP would be the
sole private equity firm still facing trial among 11 firms
originally accused of colluding in deals prior to the financial
crisis.

Jul 17, 2014

Exclusive: KKR names Sarnoff head of Americas media and telecoms team

NEW YORK (Reuters) – KKR & Co said on Thursday that Richard Sarnoff, a former senior executive at European media conglomerate Bertelsmann SE & Co KGaA, would succeed Alexander Navab as head of its Americas media and telecommunications industry team.

The move allows Navab to focus on his role as sole head of KKR’s Americas private equity group after co-leading the business with Michael Michelson since 2008. Michelson stepped down as co-head in May to focus on investing for KKR.

Jul 17, 2014

Blackstone posts best Q2 earnings as private equity soars

NEW YORK (Reuters) – Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), the world’s largest alternative asset manager, said on Thursday its quarterly earnings jumped 89 percent as private equity profits soared, marking its best second quarter ever.

Since 2010, Blackstone’s real estate division has dominated its earnings as property assets staged a comeback. Since the start of the year, however, private equity has become a bigger contributor, thanks to strong valuations and asset sales.

Jul 16, 2014

At KKR, Nuttall and Bae are favorites to fill founders’ shoes

NEW YORK (Reuters) – KKR & Co LP’s co-founders Henry Kravis and George Roberts have indicated they intend to stay at the buyout firm for at least five more years, but two men – Scott Nuttall and Joseph Bae – are emerging as front-runners to eventually succeed them.

Interviews with more than half a dozen current and former KKR executives reveal that the firm is likely to preserve the co-chairman and co-chief executive jobs, currently held by Kravis and Roberts. Nuttall, 41, head of the global capital and asset management group, and Bae, 42, who leads the firm’s operations in Asia, are now seen within the buyout shop as the most likely people to take those spots, the sources said.

Jul 1, 2014

Berkshire Partners nears deal for hot dog chain Portillo’s-sources

July 1 (Reuters) – Buyout firm Berkshire Partners LLC is in
advanced talks to acquire Portillo’s Restaurant Group, the
largest privately owned restaurant chain in the U.S. Midwest,
for close to $1 billion, according to people familiar with the
matter.

Berkshire Partners has outbid other private equity firms for
the Chicago-based restaurant group, the sources said on Tuesday.