Greg's Feed
Apr 17, 2014

Blackstone earnings rise 30 percent on private equity gains

NEW YORK (Reuters) – Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), the world’s largest alternative asset manager, reported a 30 percent increase in first-quarter earnings on strong gains in its private equity arm which more than offset small declines in its real estate unit.

The results, buoyed by asset sales and a strong appreciation in Blackstone’s buyout funds that outpaced the wider stock market, beat most analysts’ expectations. Blackstone’s shares closed 1.3 percent higher at $31.34 on Thursday after rising as much as 3.4 percent earlier in the session.

Apr 17, 2014

Blackstone earnings rise 30 pct, boosted by private equity gains

NEW YORK (Reuters) – Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), the world’s largest alternative asset manager, reported a 30 percent rise in first-quarter earnings, driven by strong gains in its private equity arm that more than offset small declines in its real estate unit.

The results, driven by assets sales and a strong appreciation in Blackstone’s buyout funds that outpaced the wider stock market, beat most analysts’ expectations and sent Blackstone’s shares up 4 percent in pre-market trading.

Apr 17, 2014

Bain Capital raises $7.3 billion for flagship fund: sources

By Greg Roumeliotis

(Reuters) – Bain Capital LLC has raised $7.3 billion from investors and its dealmakers for its next flagship fund, people familiar with the matter said on Thursday, underscoring the favorable fundraising environment for established private equity firms.

Bain raised $6.5 billion from outside investors, more than the $6 billion it was originally targeting but less than the $7.5 billion cap it set when it started marketing the fund more than a year and a half ago, the people said.

Apr 14, 2014

Juniper Networks eyes sale of mobile security unit Pulse: sources

By Nicola Leske and Greg Roumeliotis

(Reuters) – Juniper Networks Inc (JNPR.N: Quote, Profile, Research, Stock Buzz), the network gear maker under pressure from activist investor Elliott Management Corp to restructure, is exploring a sale of its mobile security unit Junos Pulse, according to people familiar with the matter.

The move follows an extensive review of Juniper’s enterprise businesses and could signal a willingness by the Sunnyvale, California-based company to shed more non-core assets, in line with recent calls by some of its activist shareholders.

Apr 14, 2014

CREF to buy Nuveen Investments for $6.25 billion

By Greg Roumeliotis and Mike Stone

(Reuters) – TIAA-CREF, an insurer and asset manager focusing on workers at non-profit organizations, said it would acquire fund manager Nuveen Investments for $6.25 billion, seeking to expand its mutual fund and municipal bond offerings.

The deal will add more than $221 billion in assets to TIAA-CREF’s roughly $569 billion in assets under management, broadening its portfolio with closed-end municipal bond funds that offer regular, annuity-type payouts.

Apr 11, 2014

Exclusive: Morgan Stanley near deal to sell Learning Care – sources

NEW YORK (Reuters) – Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) private equity arm is in advanced talks to sell Learning Care Group Inc, the second-largest for-profit child care provider in North America, to buyout firm American Securities LLC, people familiar with the matter said.

The deal, which is expected to come later in April, underscores the growth potential of child care providers as demand for their services grows. Shares of Bright Horizons Family Solutions Inc (BFAM.N: Quote, Profile, Research, Stock Buzz), the largest U.S. child-care provider, have soared 76 percent since buyout firm Bain Capital LLC took it public in January 2013.

Apr 9, 2014

Premium pet food company Freshpet taps banks for IPO: sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Freshpet LLC, maker of a healthy variety of cat and dog food, has selected Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) and Credit Suisse Group AG (CSGN.VX: Quote, Profile, Research, Stock Buzz) to lead an initial public offering by the end of the year, two people familiar with the matter said on Wednesday.

Freshpet’s plans to go public come amid a wave of IPO and mergers and acquisitions activity in the “premium pet food” sector, driven by rising pet ownership and an increase in pet food spending.

Apr 9, 2014

El Pollo Loco picks Jefferies, Morgan Stanley for IPO: sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – El Pollo Loco Inc has selected investment banks Jefferies Group LLC and Morgan Stanley to lead an initial public offering of the private equity-owned fast-food chicken chain later this year, according to people familiar with the matter.

The move makes El Pollo Loco the latest among several private equity-backed restaurant chains hoping to go public this year amid strong demand by stock market investors hungry for exposure to the fast-growing casual dining sector.

Apr 8, 2014

Exclusive: Fiber network company Zayo explores IPO – sources

NEW YORK (Reuters) – Zayo Group LLC is exploring an initial public offering that could value the fiber network company at close to $7 billion, people familiar with the matter said, amid strong investor appetite for telecommunication firms offering more bandwidth.

An IPO would come as Zayo’s peers, including Level 3 Communications Inc (LVLT.N: Quote, Profile, Research, Stock Buzz), see strong gains in the stock market due to growing demand for ever-faster data transfers. Shares of Level 3 have almost doubled in the last 12 months.

Apr 8, 2014

Fiber network company Zayo explores IPO -sources

NEW YORK, April 8 (Reuters) – Zayo Group LLC is exploring an
initial public offering that could value the fiber network
company at close to $7 billion, people familiar with the matter
said, amid strong investor appetite for telecommunication firms
offering more bandwidth.

An IPO would come as Zayo’s peers, including Level 3
Communications Inc, see strong gains in the stock
market due to growing demand for ever-faster data transfers.
Shares of Level 3 have almost doubled in the last 12 months.