Joan Solotar, previously managing director and director of equity research at Bank of America Securities, will manage relations with Blackstone’s public investors.
Clothing company Jones Apparel Group is in talks to sell luxury department store Barneys New York to Istithmar for $950 million (€714 million). The Dubai-based firm has been active in the New York real estate market lately.
Blackstone’s public float will net Steve Schwarzman and Pete Peterson more than $2.3 billion. Last year, according to a regulatory filing, the pair took home more than $600 million.
Actis has taken a minority stake in Nigeria-based Diamond Bank, shortly after the country’s scandal-dogged elections. But despite the governance concerns, buyout firms are optimistic about the country’s economic and political future.
European and Middle Eastern investors made up roughly one-third of Lehman’s latest private equity fund, which the firm said reflected the growing importance of European investment opportunities.
The Denver firm’s new hires bring experience and expertise in KRG’s historic investment areas: healthcare, construction, infrastructure, and distribution.
A consortium led by Edmund Truell has sold the operating businesses of UK retailers Threshers and BrightHouse to secondaries specialist Vision Capital, just two weeks after buying them. The £265 million sale will leave the consortium in control of the companies’ pension fund assets.
European buyout firm 3i has bought Eltel Networks, a Nordic electricity and telecommunications business, from Industri Kapital. The sale, which generated a return of nearly 2.5 times IK’s original investment, is the latest in a series of lucrative exits for the Nordic buyout firm.
Private equity infrastructure specialist Global Infrastructure Partners has opened an office in Hong Kong and appointed a new partner to lead its Asian investment activities.
KKR and TPG have reportedly offered to pay $30 million toward air quality improvement programmes in central Texas, in the group’s latest move to quell criticism of the $45 billion proposed buyout of Dallas, Texas-based utility company TXU.