Archive for Private Equity

The new plans approved by the New York City Council allow the construction of modern office space, reduce challenges for redevelopments and aim at upgrading the area’s transit and pedestrian infrastructure. Still, experts say only sophisticated developers will be able to take advantage of the approved regulations.
The rezoning plan for Manhattan’s Greater East Midtown district is now in effect, after New York City Council’s unanimous approval. The regulations cover 78 blocks and are primarily focused on the renewal of the area’s office building inventory. Developers are now able to buy unused development rights from landmarks and are required to contribute to the Public Realm Improvement Fund in exchange. The contribution will be a minimum of $61.5 per-square-foot or 20 percent of the air rights’ sale price. The final version of the text was years in the making, after the Department of City Planning felt that the existing office properties (most of which are around 75 years old) wouldn’t offer the desired facilities for tenants in the long run. Former member of the City Council Ken Fisher, now partner in the real estate practice at Cozen O’Connor, explained how the new zoning plan will impact development in one of New York’s most dense business districts.
Share
Categories : Private Equity
Comments (0)
  • Federal filings show more violations than other big pipelines
  • Project will transport natural gas from Marcellus shale

In the energy business, it’s one of the biggest projects going today: construction of a 710-mile pipeline to transport natural gas from America’s most prolific shale deposit in the eastern U.S. to consumers in the Midwest and Canada. Even Blackstone Group LP has agreed to take a sizable stake.

But it holds another, more dubious, distinction. The Energy Transfer Partners LP pipeline has racked up more environmental violations than other major interstate natural gas pipelines built in the last two years, according to a Bloomberg analysis of regulatory filings during that period. And that’s all since U.S. regulators approved the $4.2 billion project in February…

Share
Categories : Private Equity
Comments (0)
  • Biggest private equity manager bets on energy infrastructure
  • Deal follows firm’s credit, secondary additions in past decade

Blackstone Group LP will add $10 billion in assets by buying energy investor Harvest Fund Advisors, betting that demand for pipelines and facilities will continue to rise despite sluggish energy prices.

Blackstone is acquiring the Wayne, Pennsylvania-based firm for an undisclosed amount of cash and future incentive payouts, Blackstone partner Dwight Scott said in a phone interview Thursday. Harvest’s 18-person team will remain at their headquarters and continue to be led by Eric Conklin, who will report through Blackstone’s credit unit…

Share
Categories : Private Equity
Comments (0)

LONDON — Akzo Nobel, the Dutch paint and chemicals company, said on Wednesday that it had reached a truce with Elliott Management, ending a dispute that had been the latest example of an activist investor looking to reshape a major business.

The dispute had centered on repeated efforts by PPG Industries, an American rival, to take over Akzo Nobel, which counts Dulux paint among its brands. Akzo Nobel rebuffed the approaches, and PPG abandoned its pursuit in June…

Akzo Nobel Ends Feud With Elliott Management

Share
Categories : Private Equity
Comments (0)
Advanced Drainage Systems, a provider of water management products, opened its 62nd facility. The Harrisonville, Mo., plant has 72,650 square feet and approximately 50 employees.

Advanced Drainage Systems Inc., (ADS) a manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications, hosted a grand opening event for its new Harrisonville, Mo., manufacturing plant. The 72,650-square-foot facility hired 50 people.

Located approximately 40 miles south of Kansas City, Mo., the 35-acre facility produces a wide range of ADS products, including ADS N-12 high-density polyethylene pipe and the company’s line of HP polypropylene pipe…

Share
Categories : Private Equity
Comments (0)
The properties in Corona and Ontario, Calif., changed hands for a total consideration of $13.1 million. Vacancies in small-size warehouse properties are below the region’s average.

Daum Commercial Real Estate Services brokered two industrial acquisitions in the Inland Empire for more than $13.1 million. The properties in Corona and Ontario, Calif., total 112,671 square feet.

Share
Categories : Private Equity
Comments (0)

Cracks are appearing in India’s bull market, which has handed equity investors total returns of 19 percent this year, as the new sales tax bites into corporate earnings forecasts. Profit expectations for companies have been cut about 10 percent since the start of April, just as analysts increase their optimism for firms across the Asia Pacific region. Bulls are hoping the effects of the tax on Indian goods and services introduced last month will be temporary, while the bears are declaring that earnings don’t justifythe 21 percent run up in stock prices since the start of 2016…

Profit Worries Show Peril Embedded in Indian Equity Surge: Chart

Share
Categories : Private Equity
Comments (0)
Aug
16

Private Equity Follows the Money

Posted by: | Comments (0)

Private equity firms are continuing to diversify away from, well, private equity.

On Wednesday, Bloomberg News reported that Advent International is planning a move into debt investing and is in the early stages of forming a team to then raise a dedicated fund. The news comes just weeks after tech-focused buyout specialist Thoma Bravo confirmed in a filing that said it’s seeking to raise $750 million for its first fund dedicated to credit investing, joining others in the industry that already have thriving debt businesses…

Private Equity Follows the Money

Share
Categories : Private Equity
Comments (0)

After the housing market collapsed more than a decade ago, new investors poured in to buy foreclosed homes and rent them out. Now, a $4.3 billion deal suggests that the bargain-hunting binge in housing is finally over.

Two of the biggest institutional single-family landlords in the United States said Thursday that they planned to merge, an indication that the housing market has recovered much of the ground it lost in the financial crisis. And as home prices rise in many areas, affordable housing, for deep-pocketed investors and young first-time buyers alike, is becoming harder to find…

Share
Categories : Private Equity
Comments (0)
  • Pricing lowest to emerge as bank seeks to compete post-MiFID
  • EU ban on free research for clients forces industry overhaul

JPMorgan Chase & Co. is proposing to charge as little as $10,000 a year for equity research, the lowest price to emerge so far, as the Wall Street giant seeks to grab market share when a European ban on free analysis for clients is imposed, two people with knowledge of the matter said.

Share
Categories : Private Equity
Comments (0)
The loan secured by Hunt Mortgage Group through the HUD LEAN program will be used to refinance eight skilled nursing facilities located in Texas.

Hunt Mortgage Group secured a loan in the total amount of $27.6 million on behalf of Senior Living Properties LLC to refinance eight skilled nursing facilities located throughout Texas. The financing was arranged through the HUD LEAN program and closed with the Fort Worth, Texas HUD office.

Proceeds from the new loans will enable the borrower to refinance a temporary loan to permanent fixed rate loans and provide funds for repairs and improvements of the properties included in the financing…

Share
Categories : Private Equity
Comments (0)
The $35.2 billion worth of real estate properties and loans will be transferred to a new company that will be co-owned by the New York-based firm and Banco Popular.

In what is evidently a multi-billion-dollar deal, Blackstone Real Estate Partners Europe V will be purchasing a majority stake in the real estate portfolio of Banco Popular S.A., of Madrid.

Banco Popular, recently purchased for a token sum by Spain’s Santander Bank, approved the sale after holding “a competitive process in which three international companies with long track records in the management of real estate assets presented offers,” according to a Blackstone Group announcement. Blackstone reportedly submitted the best offer in terms of both value and the proposed management plan…

Share
Categories : Private Equity
Comments (0)
  • Contributors include endowments, foundations, insurers
  • Asset manager has invested in military housing projects

True Green Capital Management LLC, an infrastructure asset management firm with more than $500 million under management, raised $350 million for commercial and industrial solar investments.

The Westport, Connecticut-based asset manager closed True Green Capital Fund III on June 30, Managing Partner Panos Ninios said in an interview. The fund was oversubscribed, attracting endowments, foundations, fund-of-funds, family offices and insurance companies. It also attracted more capital than True Green’s two previous solar-focused funds, which together raised $223.4 million…

Share
Categories : Private Equity
Comments (0)
  • Havens in demand as gold, yen advance on Trump-Kim spat
  • VIX surges 44% in Thursday session, S&P 500 Index drops 1.5%

Stocks tumbled in Asia, following a U.S. slump overnight, as investors headed for havens from what hedge-fund manager Ray Dalio termed a game of chicken between U.S. and North Korean leaders.

Equities in Australia and South Korea declined after the S&P 500 Index halted an unprecedented stretch of calm on American equity markets and the CBOE Volatility Index soared 44 percent. U.S. President Donald Trump dialed up his warning to North Korea on threats to American allies, lifting gold to a nine-week high and pushing the yen toward 109 per dollar, while Treasuries strengthened. Japanese markets are closed for the Mountain Day public holiday…

Share
Categories : Private Equity
Comments (0)
  • Investors target businesses that enable web, mobile payments
  • Record cash piles push buyout firms into new technology

Private equity firms, sitting on record piles of cash, are targeting a geeky corner of the online shopping industry as the next frontier in the hunt for returns.

Payment-processing companies, which make the technology that enables web and mobile purchases, are getting a flurry of investments this year as buyers look for ways to profit from the shift to online spending…

Why Private Equity Is Betting on Your Online Shopping Habit

Share
Categories : Private Equity
Comments (0)
The MLS-hopefuls have launched the first phase of a $245 million soccer stadium at the Railyards, the largest urban infill project in the country.

The Sacramento Republic FC launched the first phase of its $245 million soccer stadium at the Railyards, the largest urban infill project in the country. This is well ahead of the Major League Soccer’s decision, which is not due until December 2017. The MLS-hopefuls have submitted a bid to be one of the next four MLS expansion teams, alongside 11 other cities. Owned by Downtown Railyard Ventures LLC and developed by LDK Ventures LLC, the Railyards is transforming 244 acres and will double the size of downtown Sacramento, bringing housing, retail, dining, business, entertainment and other services.

Share
Categories : Private Equity
Comments (0)
  • Electric-car maker plans first sale of non-convertible debt
  • Spending on sedan capacity, battery output burns through cash

Having tapped the equity market eight times for capital over the past seven years to fund Tesla Inc.’s growth — and cover its losses — Elon Musk is turning to the bond market.

Needing cash to finance his audacious bet on the mass production of a more affordable electric car, the Model 3, Musk plans to sell $1.5 billion of eight-year bonds. Tesla officials are meeting with investors across the U.S. this week to drum up demand. The debt sale will test Musk’s ability replicate the fervent following he’s built among stock investors, who’ve bought into his vision of a clean-energy future and pushed the shares up 67 percent this year…

Share
Categories : Private Equity
Comments (0)
The 39,800-square-foot facility slated for completion in June 2018 will consolidate primary, specialty and behavioral care services, which are currently spread among four buildings.

LincolnHealth is catering to the growing need for health care services in Maine, the state with the nation’s oldest population, with a median age of 44.6 in 2016, according to the Census Bureau. The company broke ground on a new $13.7 million medical office building at the Damariscotta, Maine, campus. Designed by E4H Environments for Health Architecture, the new 39,800-square-foot facility is slated for completion in June 2018. Hebert Construction Corp. is the project construction manager.

Share
Categories : Private Equity
Comments (0)
The newly constructed building features four units and is fully leased to two tenants. The company purchased the property using its line of credit.

Rexford Industrial Realty acquired an industrial property in the San Gabriel Valley submarket of Los Angeles. The company used its line of credit for the $14.6 million purchase.

The 87,421-square-foot, Los Angeles-area industrial building is located at 4832 Azusa Canyon Road. The newly constructed, four-unit asset sits on 3.5 acres and feature 28-foot clearance, ESFR fire sprinklers, eight dock doors and LED motion sensor lighting…

Rexford Snags LA-Area Industrial Property

Share
Categories : Private Equity
Comments (0)
  • The risk of concentrated gains in a handful of high P/E stocks
  • How an imbalance of power is status quo every year in S&P 500

The U.S. equity market in 2017 has often seemed like the world’s most expensive Jenga tower. Pull out the wrong piece, and the whole thing might crash to the ground.

But is it true? Giant technology companies like Amazon.com and Facebook are dominating indexes to a far greater degree than their size alone would dictate. That’s because along with being big, they’re rising three or four times as fast as everything else…

Share
Categories : Private Equity
Comments (0)

Lone Star Funds, a big private equity firm that specializes in buying up distressed assets — soured mortgages in particular — is undergoing a shake-up in the management of its North American operations.

Sam Loughlin, who had worked for the Dallas-based firm for nearly nine years, stepped down on Thursday as president of its North American division, the company said. He is being replaced by Nick Beevers, who had been a Lone Star executive vice president and came to the firm in 2011 to run its investor relations operation…

Private Equity Giant Lone Star Shakes Up North American Ranks

Share
Categories : Private Equity
Comments (0)
The Dallas-based company supports House Bill 199, introduced by Rep. Joe Pickett (D-El Paso), opposing Texas electric utilities’ intention to charge higher rates to residential customers with solar systems.

Sunfinity Solar issued a statement in support of House Bill 199, which would prevent Texas electric utilities from charging a higher rate or special fee for residential customers with solar systems.

Share
Categories : Private Equity
Comments (0)

LONDON — The German generic drugmaker Stada Arzneimittel said on Tuesday that its board of directors had recommended that shareholders accept a sweetened takeover bid by the private equity firms Bain Capitaland Cinven, the latest in a series of takeovers in the industry in recent years.

The deal, which valued Stada at $4.8 billion, came after a bid in June by Bain and Cinven was unable to get support from 75 percent of shareholders. The new offer has a lower threshold for acceptance: 63 percent…

Stada Board Recommends Acceptance of Improved Takeover Bid

Share
Categories : Private Equity
Comments (0)
Through a settlement with California environmentalist groups, nearly half of the solar development’s capacity will move to the Imperial Valley as a measure to protect the Panoche valley’s endangered species.

Panoche Valley Solar LLC, a subsidiary of Consolidated Edison Development Inc., entered into a settlement agreement with three environmental groups: the Sierra Club, Defenders of Wildlife and Santa Clara Valley Audubon Society, as well as the California Department of Fish and Wildlife (CDFW) concerning the size and location of a solar project currently underway in California’s Panoche Valley. Specifically, the agreement concerns the relocation of a portion of a contentious large solar project planned for San Benito County at a site in Imperial County close to the border of Mexico.

Share
Categories : Private Equity
Comments (0)
Enel invested approximately $190 million into the development of the 90-megawatt Cristalândia wind farm. The facility has a generating capacity of roughly 350 Gigawatt hours per year.

Enel Green Power Brasil Participações (EGPB), a subsidiary of Enel, began operation of its Cristalândia wind farm. The facility has a total installed capacity of 90 megawatts and is located in the municipalities of Brumado, Rio de Contas and Dom Basilio in Brazil’s northeastern state of Bahia.

Cristalândia’s construction cost roughly $190 million and was awarded to EGPB through the Leilão de Fontes Alternativas (LFA) public renewable energy auction in April 2015. The wind project has 20-year power purchase agreements with a pool of Brazilian electricity distribution companies…

Share
Categories : Private Equity
Comments (0)
The company purchased the 82,024-square-foot asset in the suburb of La Mesa, Calif., free and clear of existing debt from The Abbey Co.

Anchor Health Properties acquired Fletcher Parkway Medical Center, a mission-critical, 82,024-square-foot medical office building in the San Diego suburb of La Mesa, Calif. The company purchased the fee-simple asset free and clear of existing debt from The Abbey Co. HFF represented the seller.

Located at 8881 Fletcher Parkway, just north of the Interstate 8/California 125 interchange in La Mesa, Fletcher Parkway Medical Center is adjacent to Sharp Grossmont Hospital. The class B asset was built in 1985 and is located in an area with a population of 72,293 and average household income of $75,075, according to Commercial Café…

Share
Categories : Private Equity
Comments (0)
  • ‘I’m going to issue a warning today,’ the billionaire says
  • SoftBank fund structure is ‘questionable’; bitcoin ‘not real’

Billionaire Howard Marks, who’s warned of excessive risk in the markets for the past five years, is now sounding the alarm as hazards from red-hot tech stocks to investor confidence in SoftBank’s $100 billion fund converge.

In a 22-page memo Wednesday — longer than most of his missives to clients — the Oaktree Capital Group LLC co-chairman said he sees several phenomena that by themselves seem reasonable but together reveal markets to be heated and risky…

Share
Categories : Private Equity
Comments (0)
IFA will build a 234,000-square-foot manufacturing facility in Summerville, S.C. The company intends to create more than 120 jobs in the coming years.

IFA, a direct supplier of propshafts for passenger cars and light commercial vehicles, is constructing a new manufacturing and distribution facility in Summerville, S.C. The 234,000-square-foot development represents a $69 million investment and is projected to create approximately 120 new job.

Located at 479 Trade Center Parkway, the new facility will provide easy access to Interstate 26. The Coordinating Council for Economic Development approved a $150,000 job development credit related to this Berkeley County project…

Share
Categories : Private Equity
Comments (0)

LONDON — As more people shop online, the race is heating up to grab a slice of the infrastructure that makes e-commerce go.

Financial companies are targeting the firms that process payments over the internet, and on Friday, the private equity groups Blackstone and CVC Capital Partners teamed up to make a 2.9 billion pound, or $3.7 billion, preliminary offer for Paysafe, a British payments processor.

Paysafe is among a growing number of companies that have taken advantage of the increased prevalence of mobile payments and online shopping, jostling with traditional banks, as well as industry behemoths like PayPal…

Share
Categories : Private Equity
Comments (0)
  • Bank lost a third of its equities market share since 2015
  • Executives have pledged to ‘defend and grow’ stocks business

In October 2015, Credit Suisse Group AG Chief Executive Officer Tidjane Thiam and the head of its markets unit, Timothy O’Hara, laid out their vision for a business they said would be key to overhauling one of the world’s biggest investment banks.

“Credit Suisse has consistently been a top-three trader of global stocks since 2010,” O’Hara, a 27-year veteran of the bank, told investors who had gathered in London. “It’s important to us that we invest in our content and execution capabilities to defend and grow our equities franchise.”

Share
Categories : Private Equity
Comments (0)

U.S. stocks climbed as corporate earnings reports pick up steam and investors assess the fallout of the Trump Administration’s embattled health-care bill.

The S&P 500 added 0.3 percent to 2,468 as of 10:10 a.m. in New York after the underlying gauge closed at a record high Tuesday. Small-cap shares rallied as the Dow Jones Industrial average was little changed…

U.S. Stocks Climb as Earnings Season Picks Up; Health Care Gains

Share
Categories : Private Equity
Comments (0)

Few can claim as crucial a role in creating the buyout industry as Henry R. Kravis and George R. Roberts. From a small partnership that began with just $120,000, the two created the colossus now known as Kohlberg Kravis Roberts, the firm that bought RJR Nabisco and defined an era.

Now, more than 40 years after setting up K.K.R., the two billionaire cousins have finally outlined the future of a firm where the K, the K and the R are all gone…

K.K.R. Lays Out a Line of Succession, a Rare Move in Private Equity

Share
Categories : Private Equity
Comments (0)
Magnolia Health Systems sold the assets for $15 million in cash and will lease them back on a triple-net basis for 15 years.

MedEquities Realty Trust Inc. has executed a definitive agreement to purchase two skilled nursing facilities in Indiana from Magnolia Health Systems for $15 million in cash. The company will lease the facilities to Magnolia, pursuant to a 15-year, triple-net master lease at an initial lease rate of 9 percent, with annual escalators. The transaction is expected to close within 30 days, subject to customary closing conditions.

Share
Categories : Private Equity
Comments (0)
The sale of the Class A industrial property marks the fourth industrial building completed in the Clinton Commerce Park and the first sale to a third party.

After leading the global marketing launch of the 3.25 million-square-foot mixed-use development in Eagan, Minn. back in June, Newmark Knight Frank secured the marketing and sale of Clinton Commerce Center I, a 297,200-square-foot industrial space located close to Pittsburgh International Airport. The company represented Clinton Center LLC. PenTrust, a local pension fund advisor, provided the financing for the project which was valued at $26.7 million.

Share
Categories : Private Equity
Comments (0)
Jul
13

Onyx Equities Sells 2 in New Jersey

Posted by: | Comments (0)
The real estate investment firm disposed of two office buildings owned with two separate partners, Russo Development and Rubenstein Partners.

In separate transactions, Onyx Equities, a private value-add real estate investment firm, and its joint venture partners have sold two office properties in New Jersey, including one in Basking Ridge, N.J., that underwent a $40 million repositioning.

Woodbridge, N.J.-based Onyx Equities and Rubenstein Partners sold 211 Mount Airy Road in Basking Ridge, a 307,000-square-foot suburban office property, for a reported $98.5 million. The sellers did not disclose the name of the buyer, but the Wall Street Journalreported Norfolk, Va.-based Harbor Group International paid $98.5 million for the asset…

Share
Categories : Private Equity
Comments (0)
The seven new wind farms constitute the company’s largest wind expansion in upper Midwest, which will increase its regional wind output by roughly 70 percent.

Xcel Energy received approval from the Minnesota Public Utilities Commission for the largest expansion of wind energy in the upper Midwest. The North Dakota Public Service Commission will review the plan later this year.

The new energy plan consists of seven new wind farms for Iowa, Minnesota, North Dakota and South Dakota, and are slated to begin commercial operation by the end of 2020. Combined, the facilities will generate enough energy to power more than 800,000 homes, increasing Xcel Energy’s regional wind output by roughly 70 percent…

Share
Categories : Private Equity
Comments (0)
The 133,951-square-foot build-to-suit project will serve as the new North American headquarters for OCM Inc. and Okabe Inc., two subsidiaries of the Japanese company Okabe Co. Ltd.

Premier Design + Build Group started work at Okabe complex, a 133,951-square-foot distribution facility in Grayslake, Ill. The property will serve as the new North American headquarters for OCM Inc. and Okabe Inc. The two subsidiaries of the Japanese company Okabe Ltd. are relocating from Vernon Hills, Ill. Bridge Development Partners is the developer of the project and Cornerstone Architects is responsible for the design.

Share
Categories : Private Equity
Comments (0)
The buildings will include creative features such as outdoor amenity areas, extensive glass for natural lighting and an overall higher percentage of office space compared to traditional industrial facilities. Delivery is expected in 2018.

RAF Pacifica Group is developing three ground-up creative industrial projects in North County San Diego, totaling more than 500,000 square feet and approximately $110 million. The company recently broke ground on all three and delivery is expected in 2018.

Share
Categories : Private Equity
Comments (0)
  • Strategy of buying stocks with best 12-month gains outperforms
  • BlackRock says strength to continue despite June tech selloff

Call off the search party. Stock market momentum has been located.

As investors chasing trends across asset classes have gotten pummeled over the past few weeks, a smaller subset of asset managers has managed to thrive: market-neutral momentum equity funds. The vehicles employ a quantitative strategy where the market’s greater moves are hedged out, isolating bets around stocks that have gone up the most in the past year…

Momentum Is Rising From the Dead, But Only for Equity Quants

Share
Categories : Private Equity
Comments (0)
LSI Industries Inc. extended its lease at Prologis Park–West by Northwest, in a transaction represented by JLL’s Executive Vice President Jeff Venghaus.

JLL has negotiated a 140,695-square-foot industrial lease renewal at Prologis Park–West by Northwest, 14902 Sommermeyer Street in Houston, on behalf of LSI Industries Inc., a manufacturer of LED lighting solutions.

Built in 1983, 14902 Sommermeyer Street is a 264,461-square-foot industrial building and was the second of 26 buildings completed within Prologis’ West by Northwest industrial park. The asset features front-load dock configuration, ample parking, 24-foot clear heights and convenient access to Beltway 8 and Highway 290…

Share
Categories : Private Equity
Comments (0)
The abandoned Phipps Bend Nuclear Power Plant is now producing CO2-free electricity thanks to a newly built 1-megawatt solar farm.

Birdseye Renewable Energy joined forces with United Renewable Energy to design and construct a solar farm in Hawkins County, Tenn. The 1-megawatt solar power facility was built on the site of the abandoned Phipps Bend nuclear power plant near Surgoinsville, Tenn.

Share
Categories : Private Equity
Comments (0)
The company is the exclusive leasing broker for Skyway Commons, an upcoming 110,221-square-foot facility owned by Silagi Development and Management.
The Phoenix office of JLL has been awarded the leasing assignment for Phase I of Skyway Commons, a fully speculative industrial project that just broke ground in the northwest Phoenix submarket. The project’s owner, Silagi Development and Management, expects to complete the first phase in January next year…
Share
Categories : Private Equity
Comments (0)

The Blackstone Group’s diversification drive is circling home.

Over the years, the group, run by Stephen A. Schwarzman, has expanded far beyond its leveraged-buyout roots. Now it is using capital that had been focused on hedge funds to take a stake in a rival private equity firm, Leonard Green. The return comparisons are too stark to ignore.

Though it started 32 years ago as a merger advisory shop, Blackstone raised its first leveraged buyout fund soon after the October 1987 market crash. With real estate, credit and hedge funds fully in the mix, private equity now accounts for just over a quarter of the firm’s nearly $370 billion under management…

Share
Categories : Private Equity
Comments (0)

Cashing in on rising drug prices often unleashes an outcry from consumers and politicians.

But a little-known private equity investor, Royalty Pharma, has built an unusual investment portfolio valued at $15 billion — it buys up the rights to royalties on future drug sales — while largely avoiding public controversy. By its own count, Royalty Pharma owns partial rights to seven of the 30 top-selling drugs in the United States, including giants like Humira, the arthritis treatment that is the single biggest-selling medication in America. And its deals have been getting larger…

The Private Equity Firm That Quietly Profits on Top-Selling Drugs

Share
Categories : Private Equity
Comments (0)
The disposition of the property comes three years after Lincoln Equities and Real Capital acquired it from Dow Chemical subsidiary Union Carbide.

Lincoln Equities Group and partner Real Capital Solutions just pocketed $57 million on the sale of a 228-acre industrial site in Piscataway, N.J.  The partners sold the fully entitled property to The Rockefeller Group, which plans to invest as much as $250 million to develop the site.

Share
Categories : Private Equity
Comments (0)
The health care provider will open a new community facility within the state-of-the-art condominium complex in order to serve local residents. The 199-unit asset is jointly owned by Rudin Management Co. and Eyal Ofer’s Global Holdings.

Rudin Management Co. signed a 22,000-square-foot lease with Northwell Health, New York City’s largest healthcare network at The Greenwich Lane, a 199-unit residential condominium complex jointly owned by Rudin and Eyal Ofer’s Global Holdings. The tenant will occupy space on the second and third floors, and open in 2018 a new community facility that will offer primary specialty care services to local residents.

Share
Categories : Private Equity
Comments (0)

John C. Malone is solidifying his hold on home-shopping channels — in his own particular way.

His Liberty Interactive, which owns QVC, said on Thursday that it would combine with its longtime rival, the Home Shopping Network, in a $2.1 billion deal.

The deal will put together the two home-shopping television networks at a time of upheaval in the retail world. Amazon’s dominance in selling online has grown seemingly nonstop, while Walmart has made e-commerce a big priority with the purchases of start-ups like Jet and the clothing brand Bonobos…

QVC to Merge With Home Shopping Network in $2.1 Billion Deal

Share
Categories : Private Equity
Comments (0)

Worldpay discovered on Wednesday that a couple of birds in the bush are sometimes worth a bit more than one in the hand.

A day after Worldpay, Britain’s biggest payment processor, said it had been approached by both Vantiv and JPMorgan Chase, the company agreed in principle to Vantiv’s offer of nearly $10 billion in a mix of cash and shares. That took the shine off the share price of both the buyer and its target, perhaps because the deal makes sense only with some very charitable assumptions…

A Price for Worldpay That Will Be Hard to Process

Share
Categories : Private Equity
Comments (0)
The company acquired Clarke County Solar, a 10-megawatt solar array, and plans to purchase the 20-megawatt Cherrydale facility, presently under construction in Northampton County, Va.

Dominion Generation Inc., a wholly-owned subsidiary of Dominion Energy Inc., announced the acquisition of a 10-megawatt solar facility in Clarke County, Va. The project’s developer is an affiliate of Hecate Energy LLC. Moreover, the company announced its intention to purchase another 20-megawatt solar farm, the Cherrydale facility, currently under construction in Northampton County, Va., from the same developer, in the third quarter of 2017.

Share
Categories : Private Equity
Comments (0)

Private equity’s cup runneth over.

Apollo Global Management just accumulated the largest single pool of capital earmarked for buyouts, $23.5 billion. The haul adds to a growing stockpile of dry powder that could make outsize returns harder to come by. With yields so low across most markets, however, it should be easier to make fund investors happy.

Cash is being raised at a rate not seen since 2008. CVC Capital, based in London, raised more than $18 billion for Europe’s largest buyout vehicle earlier this year, Silver Lake pulled together $15 billion for tech deals, and Kohlberg Kravis Roberts set a record in Asia with a $9.3 billion fund while also putting the finishing touches on a $13.9 billion United States fund…

Share
Categories : Private Equity
Comments (0)
Jun
20

Pennsylvania Offices Trade for $23M

Posted by: | Comments (0)
Brookwood Financial Partners LLC disposed of three office buildings totaling 150,000 square feet located in the suburban Philadelphia and Lehigh Valley areas and that are part of a 29-asset portfolio the firm purchased in 2015.
Private equity firm Brookwood Financial Partners LLC sold three properties situated in the western Philadelphia suburbs and Lehigh Valley regions for a combined $22.7 million. The buildings were acquired by three different companies and last traded in 2015, when Brookwood acquired a 29-building office portfolio through its Brookwood Philadelphia I LLC and Brookwood Philadelphia II LLC affiliates…
Share
Categories : Private Equity
Comments (0)
  • Investment firm said to plan starting the fundraise this year
  • Bill McGlashan-led unit got $3 billion for third fund in 2015

TPG, an investor in Uber Technologies Inc. and Airbnb Inc., is seeking $3 billion for its fourth growth-equity fund, according to people with knowledge of the matter.

The private equity firm plans to start raising money for the pool this year and is targeting the same amount it got for its third fund, which finished collecting $3 billion in 2015, said the people, who asked not to be identified because they weren’t authorized to speak publicly. TPG wants to stay at that amount even as client demand is surpassing it, one of the people said.

Share
Categories : Private Equity
Comments (0)
In trying to clean up its own act, Uber Technologies Inc. — the ride-hailing startup whose boys-run-amok corporate culture forced an internal probe over sexual misconduct and gender discrimination — has inadvertently shown a light on another male-dominated corner of the corporate world: private equity.
For this, we can thank David Bonderman, the 74-year-old TPG Capital co-founder also known as “Bondo,” who was a member of Uber’s board. That changed after Tuesday, when at an all-hands meeting to address changes at Uber he made a quip to fellow director Arianna Huffington as she discussed the addition of another woman (Wan Ling Martello) to the board. In case you missed it, the exchange went like this:
Share
Categories : Private Equity
Comments (0)

SAN FRANCISCO — David Bonderman, an Uber board member and partner at private equity firm TPG, is resigning from the board of the ride-hailing company after he made a disparaging remark about women at an Uber meeting on Tuesday.

At an Uber staff meeting earlier in the day, Arianna Huffington, another Uber board member, said one woman on a board often leads to more women joining a board. Mr. Bonderman responded “that it’s much more likely to be more talking.”

Attendees were aghast at the exchange, and Mr. Bonderman later apologized…

David Bonderman Resigns From Uber Board After Sexist Remark

Share
Categories : Private Equity
Comments (0)
This location marks the first standalone location in Colorado, which will be followed by the opening of two others, one in Denver and one in Littleton.

CVS Health held the grand opening of its first standalone store in Colorado, which is the first of three locations set to open in the greater Denver area in 2017.

Located at 16920 E. Lincoln Ave. in Parker, Colo., the store will feature the retailers signature pharmacy, better-for-you food options, expanded beauty section, assortment of health and wellness products, and customer rewards. CVS recently announced the launch of 39 pharmacies within Target stores, but this is the first separate retail location…

Share
Categories : Private Equity
Comments (0)
  • Latest fund comprises $800 million from KKR and employees
  • Pool amassed even as number of megadeals in region falls

KKR & Co. has raised $9.3 billion for its third Asia fund, amassing the biggest ever pool by a private equity firm in the region, as the firm steps up investments in Japan.

About $800 million of the pool comes from the firm’s balance sheet and employees, the company said in a statement. The fund is 55 percent larger than its second Asia fund, which had generated a net internal rate of return of 20.6 percent as of March 31, the New York-based firm said in the statement Friday…

Share
Categories : Private Equity
Comments (0)

The business of publishing newspapers may not be the most obvious thing to set a private equity executive’s heart fluttering.

And yet Wall Street is in a bidding war for Fairfax Media, the Australian company that owns The Sydney Morning Herald and Domain, a real estate portal.

What’s the attraction?

Property. In Sydney and Melbourne, Australia’s two largest cities, prices have been in an extended surge, and investors want a piece of the action through sites like Domain

Morning Agenda: A Newspaper Bidding War?

Share
Categories : Private Equity
Comments (0)

There’s a fascinating exchange buried in Payless ShoeSource’s bankruptcy court documents, one that highlights the increasing ire over private equity firms’ involvement in distressed retailers.

Payless, remember, is the discount shoe retailer that became insolvent earlier this year after being the subject of a leveraged buyout in 2012. Now, suppliers and property owners that are owed money are clearly mad about how private equity firms directed Payless to borrow millions of dollars to pay themselves hefty dividends without improving the company’s viability.

These creditors want to hire an expert to evaluate how much those dividend payments ate into Payless’s value and doomed its fate…

Share
Categories : Private Equity
Comments (0)
  • Unity sees itself as key virtual-reality software developer
  • Funding round values Unity Technologies at $2.6 billion

Private equity firm Silver Lake has agreed to a $400 million investment in Unity Technologies, said John Riccitiello, chief executive officer of the gaming software maker.

The investment values the San Francisco-based company, which makes development tools for video-game creators, at $2.6 billion, according to a person with knowledge of the transaction. Regulators still need to approve the deal, Riccitiello said…

Silver Lake Invests $400 Million in Gaming Toolmaker Unity

Share
Categories : Private Equity
Comments (0)
  • Radian’s Green River says U.S. queries broker price opinions
  • Probe said to examine if industry overassessed property values

U.S. securities regulators are investigating whether bonds backed by single-family rental homes and sold by Wall Street’s biggest residential landlords used overvalued property assessments.

Radian Group Inc.’s Green River Capital unit is among companies that received a request for information from the Securities and Exchange Commission in March about broker price opinions, or BPOs, Radian said in a regulatory filing late Friday. Green River provides BPOs that are used to value real estate in bonds backed by properties…

Share
Comments (0)