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Blackrock buys private equity arm of Swiss Re

Posted on 06 July 2012 by admin  |  Email |Print

US investment manager BlackRock is buying Swiss Re’s European private equity arm, marking the second deal for a private equity fund manager in as many days as sellers contend with a new regulatory landscape and tough trading.
Swiss Re’s deal to sell its $7.5 billion private equity and infrastructure fund of funds business follows hot on the heels of HarbourVest Partners’ agreement to buy Amsterdam-listed private equity fund of funds business Conversus Capital. ……………………………………….Full Article: Source

Getty Images auction draws initial bids of around $4 bln

Posted on 06 July 2012 by admin  |  Email |Print

The auction for a potential sale of Getty Images Inc. has progressed to the second round, with several private-equity firms putting in initial bids of around $4 billion, people familiar with the matter said.
Buyout firms KKR & Co. and TPG are among at least five bidders that remain interested in privately-owned Getty, these people said. The Seattle-based photo agency distributes stock photographs, video footage and digital images to media and other organizations around the world. ……………………………………….Full Article: Source

Private equity firm H&F presses on with $4 bln Getty Images sale: sources

Posted on 06 July 2012 by admin  |  Email |Print

Private equity firm Hellman & Friedman LLC is pushing ahead with a $4 billion sale of Getty Images Inc, the largest supplier of stock photos, video and other digital content, to private equity, two people familiar with the matter said.
While several private equity firms, such as Bain Capital LLC, have balked at Hellman’s $3.5 billion to $4 billion price expectations, other buyout groups, including KKR & Co LP and TPG Capital LP, are still in the process, which is now in the second round, the sources said. ……………………………………….Full Article: Source

Wood Mackenzie sold to Hellman & Friedman for £1.1bln

Posted on 06 July 2012 by admin  |  Email |Print

Control of Wood Mackenzie, one of the Scotland’s oldest and most lauded companies, has been sold by Chartehouse to rival private equity group Hellman and Friedman, in a deal valuing the business at £1.1bn.
The deal, which will see Charterhouse retain a 13pc stake, leaving H&F with 63pc overall, will net the private equity group a good profit just three years after buying the company………………………………………..Full Article: Source

EB Private Equity bids $1.67 bln for David Jones

Posted on 06 July 2012 by admin  |  Email |Print

David Jones Ltd. said that a little-known private equity firm, EB Private Equity, had made a 1.65 billion Australian dollar (US$1.67 billion) takeover approach for the company, sending its shares surging.
The upmarket department store chain urged investors to be cautious about the approach and said it had limited information about the bidder or its funding capabilities. A spokeswoman for David Jones said the offer was received via email and did not contain a contact telephone number. “We have responded via email with a request for more information,” she said. ……………………………………….Full Article: Source

EverBank to buy GE Capital unit for $2.51 bln

Posted on 06 July 2012 by admin  |  Email |Print

Private equity-backed EverBank Financial Corp said it would buy GE Capital’s Business Property Lending Inc division for $2.51 billion to boost its ability to lend to small and mid-size companies, driving up its shares more than 4 percent.
EverBank, which went public in May and has a market value of about $1.3 billion, has used acquisitions to diversify its operations and increase its assets. The lender agreed to buy MetLife Inc’s warehouse finance business in February. ……………………………………….Full Article: Source

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