Greg's Feed
Dec 19, 2014

Madison Dearborn in the lead to take over Walgreen unit -sources

Dec 19 (Reuters) – Buyout firm Madison Dearborn Partners LLC
is in advanced talks to acquire a majority stake in the infusion
services business of U.S. drugstore chain operator Walgreen Co
for more than $1 billion, according to two people close
to the situation.

Madison Dearborn has so far prevailed over other private
equity firms in the auction for the unit, which is the largest
U.S. provider of home-infusion services, the people said on
Friday.

Dec 18, 2014

Fortress looks to sell TRAC Intermodal: sources

By Greg Roumeliotis and Mike Stone

(Reuters) – Private equity firm Fortress Investment Group LLC (FIG.N: Quote, Profile, Research, Stock Buzz) is exploring a sale of TRAC Intermodal LLC, a logistics equipment leasing company that could be valued at more than $1.7 billion, including debt, according to people familiar with the matter.

Fortress has hired investment bank Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) to run an auction for TRAC, and expects first-round bids for the Princeton, New Jersey-based company next month, the people said on Thursday.

Dec 18, 2014

Private equity firm Carlyle names insider as CFO

By Greg Roumeliotis

(Reuters) – Carlyle Group LP has named Curtis Buser, the private equity firm’s chief accounting officer since 2004, as its next chief financial officer, succeeding Adena Friedman, who departed in May to return to NASDAQ OMX Group Inc.

Buser’s appointment contrasts with Carlyle’s decision to opt for an external candidate for chief financial officer in 2011, when it poached Friedman from Nasdaq to help take it public a year later. Earlier this year, Carlyle again looked externally for a top hire, appointing Michael Cavanagh, a former top lieutenant of JPMorgan Chase & Co CEO Jamie Dimon, as co-president.

Dec 14, 2014

BC Partners to acquire PetSmart for $8.7 billion

By Greg Roumeliotis

(Reuters) – Pet supply retailer PetSmart Inc succumbed to calls from some shareholders for a sale on Sunday with an agreement to be bought by a private equity consortium led by BC Partners Ltd for $8.7 billion, in the largest leveraged buyout of the year.

At a time when a stock market rally has made private equity firms reluctant to take companies private for fear of overpaying, the deal illustrates how activist investors have the potential to drive corporate boards to explore such deals and accept a price that makes a leveraged buyout possible.

Dec 12, 2014

Exclusive: Carlyle, Warburg Pincus in the lead to acquire DBRS – sources

By Greg Roumeliotis, Anjuli Davies and Mike Stone

(Reuters) – A private equity consortium of Carlyle Group LP (CG.O: Quote, Profile, Research, Stock Buzz) and Warburg Pincus LLC is in advanced talks to acquire privately held credit rating agency DBRS Ltd for more than $500 million, according to people familiar with the matter.

After final bids were submitted this week, Carlyle and Warburg Pincus have so far prevailed in the auction for DBRS, which also attracted Canadian private equity firm Birch Hill Equity Partners Management Inc, the people said on Friday.

Dec 12, 2014

Apollo says it wants to be more like a Wall Street bank

NEW YORK (Reuters) – Private equity and credit investment firm Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) announced bold plans this week to expand its lending to companies, seizing on the shadow banking opportunity created by regulatory curbs on junk-rated loans.

Apollo has traditionally lent to companies through so-called mezzanine funds and other vehicles that accept securities which promise higher returns, but are more risky than the senior secured loans usually provided by banks.

Dec 11, 2014

Thomas H. Lee Partners in talks to acquire Curo Health-sources

Dec 11 (Reuters) – Private firm Thomas H. Lee Partners LP is
in discussions to acquire U.S. hospice firm Curo Health Services
from private equity firm GTCR LLC, according to people familiar
with the matter, in a deal that could top $700 million,
including debt.

The talks have been in progress for the last few weeks and
there is no certainty a deal will be reached, the people said
this week, asking not to be identified because the negotiations
are private.

Dec 4, 2014

KKR to invest in Arbor Pharmaceuticals -sources

Dec 4 (Reuters) – KKR & Co LP has agreed to acquire
a significant minority stake in Arbor Pharmaceuticals LLC, in a
deal that values the privately held specialty drugmaker at more
than $1 billion, including debt, people familiar with the matter
said on Thursday.

KKR, a New York-based private equity firm, will own more
than a quarter of Arbor Pharmaceuticals under the terms of the
deal, the people said, asking not to be identified ahead of an
official announcement.

Dec 4, 2014

Exclusive: Tony James looks beyond Blackstone, would consider top job in U.S. government

NEW YORK (Reuters) – Blackstone Group LP’s (BX.N: Quote, Profile, Research, Stock Buzz) No. 2 executive Tony James is considering taking a role outside the world’s largest alternative asset manager, including seeking a top job in a future U.S. government, according to people familiar with his thinking.

    James, 63, has not disclosed when or whether he will step down from being president and chief operating officer at the firm. The sources stressed that senior Blackstone executives see him as fully committed to his current role and do not expect his resignation in the coming months.

Dec 4, 2014

Tony James looks beyond Blackstone, would consider top job in US government

NEW YORK, Dec 4 (Reuters) – Blackstone Group LP’s No.
2 executive Tony James is considering taking a role outside the
world’s largest alternative asset manager, including seeking a
top job in a future U.S. government, according to people
familiar with his thinking.

James, 63, has not disclosed when or whether he will step
down from being president and chief operating officer at the
firm. The sources stressed that senior Blackstone executives see
him as fully committed to his current role and do not expect his
resignation in the coming months.