Distressed Investment

The Carlyle Group has set a price range between $23 and $25 per share for its IPO, which is expected to happen this year.

Michael Queen says 3i is in a 'strong position for the future' and ready to be driven forward by new leadership.

The Florida State Board of Administration’s plan to increase its alternatives allocation to 16% was approved by the state legislature.

The Teachers’ Retirement System of Louisiana has seen a lot of managers over the past few months and has been able to pick and choose its favorite funds, a luxury limited partners enjoy in the crowded fundraising environment.

The industry’s accumulation of $1trn in dry powder, half of which is tied up in crisis-era vintages, is good news for sellers looking for big multiples from private equity buyers.

US financial institutions want to unload impaired assets as they have become more willing to take write-offs and are pushed by regulations, while European institutions are slowly moving toward de-leveraging, according to delegates at a recent industry conference.

A state appointed receiver will handle financial operation of Harrisburg, Pennsylvania, making a sale of its waste incinerator and lease of its parking a strong possibility.

The firm’s European co-chair is stepping down to concentrate on deals, while other high profile partners are leaving or moving to part-time as the firm shifts its European focus in response to the continent’s volatile marketplace.

Peter Raymond is now handling US infrastructure for PricewaterhouseCoopers. Raymond is an experienced adviser who will replace former US and global infrastructure head Carter Pate.

In addition to hiring a partner in Boston, the Merrill private placement spin-out has added six professionals to its team recently.