Abraaj Capital’s partner on the Egyptian Fertilizers Company deal earlier this month, the Dubai Capital Group registered an 88 percent IRR and made three times its original investment in the stake it sold and later bought back.
CLSA Capital Partners has invested $20 million in Luminous Power Technologies, an Indian manufacturer of power inverters deploying an Asian growth capital fund and a regional clean tech fund.
The two private equity firms have agreed to buy publicly tradedPenn National Gaming, which owns 18 facilities in 14 US states.
A day after two US senators unveiled proposed legislation to hike taxes for public partnerships, the share price of Fortress Investment has dropped. But one Washington observer put the likelihood that the Blackstone-inspired bill will become law at ‘one percent’.
The Paris-based institutional property manager and its London affiliate Curzon Global Partners have held the third closing for PBW II but will have a final close in September to allow another €30 million of subscriptions.
The Longreach Group, a largely Japan-focused private equity firm, has joined a number of other international buyout firms to invest in a bank in Taiwan where the fragmented industry is undergoing consolidation.
Guy Hands, chief executive of Terra Firma and one of the UK private equity industry’s most forthright advocates, has defended the current tax treatment of carried interest. He believes it is right to distinguish it from other types of remuneration, since it rewards “long-term capital investment” by buyout executives.
US mid-market firm Sterling Capital has nearly doubled the size of its previous fund with a ‘quick, easy’ capital raise.
Former Merrill Lynch property pro Michael Nash has joined Blackstone as a senior managing director in the firm’s real estate group.
Lehman Brothers has more than doubled its fund of funds programme with the close of a $1.5 billion vehicle. It is Lehman’s second fund of funds raised since 2003, when the firm acquired Dallas-based fund of funds manager The Crossroads Group.