private equity

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Wall Street Bonuses To Sink
Wall Street Bonuses To Sink
Aug 22, 2007 12:31 AM CDT

Wall Street Bonuses To Sink

Market crisis hits paychecks

(Newser) - The credit crisis, which has surged across the global financial infrastructure like a tsunami, washing away millions of share prices, is about to hit one of Wall Street's most hallowed traditions —the fat bonus. The extra pay for all but an elite few may be cut for the first...

Buffett Turns Wall Street's Frown Upside Down

Star investor hunts for lucrative bargains

(Newser) - Wall Street may be seeing red after weeks of volatility and losses, but Warren Buffett is seeing green as he goes bargain-hunting for the same kind of junk bonds and stocks that have netted him nearly $50 billion, the Journal reports. Downtrodden deal-makers are hoping the star investor will use...

Nasdaq Debuts $100M Fat Cat Exchange

High-rolling private bourse will be free from federal regulation

(Newser) - Nasdaq is launching a regulation-free private stock market for the super-rich, offering those who can pony up at least $100 million access to the first-ever private investment exchange. Any private company can then sell stock to these elite shareholders, without having to worry about making their finances public—or being...

Dow Tumbles Over 380 Points
Dow Tumbles Over 380 Points
Aug 9, 2007 4:47 PM CDT

Dow Tumbles Over 380 Points

Year's second-worst loss falls on heels of solvency fears

(Newser) - The Dow Jones lost nearly 3% of its value today, tumbling 387.18 points to 13,270.68 in the second-worst drumming of the calendar year. Trading curbs were in place early, after BNP Paribas froze funds that took a bath in the US credit market and Chinese exchanges crashed...

Corporate Buyers Muscle In on Private Equity Deals

Credit squeeze puts business-as-usual on hold

(Newser) - Corporations have the upper hand over private equity firms in acquisitions for the first time in years because of chaos in the debt markets, the Wall Street Journal reports. Private equity firms are stalled until the credit situation stabilizes and they can sell off some of their debt. Corporate buyers...

Schumer Bucks Party on Wall St. Tax Hikes

Leading Dem torn between monied base, middle class

(Newser) - Rejecting populist piety, Chuck Schumer is opposing legislation that would double tax rates for private equity and hedge fund executives, arguing that he’s torn over the measures but contending that they unfairly target an industry critical to his constituency. The New York Times reports the senator, the only Democrat...

Big Biz Lobbyists Sit Out Private Equity Tax Fight

Other bankers unmoved to defend their tax advantages

(Newser) - Two big business lobbying groups are sitting out the fight in Congress over increasing taxes on private-equity earnings—in part, the Financial Times reports, because many of their members are threatened by the rise of private equity.  Big firms like Blackstone pay traditional banks hefty fees for the underwriting...

Wall Street Jittery After Drop
Wall Street Jittery After Drop
Jul 30, 2007 4:47 AM CDT

Wall Street Jittery After Drop

Markets jittery after stock drop

(Newser) - Wall Street has a case of nerves. After last week's market drop, the worst in five years, investors shouldn't expect any more "Merger Mondays" for some time to come, the New York Times predicts. Instead opening the week with big new deals, to send the market to new highs,...

Credit Crunch Rocks LBOs
Credit Crunch Rocks LBOs
Jul 27, 2007 6:27 AM CDT

Credit Crunch Rocks LBOs

Fears of risky debt ripples through global markets

(Newser) - Leveraged buyouts, which have fueled Wall Street booms with offers of huge premiums on shares of target companies, are sputtering to a halt, the Wall Street Journal reports. Private equity firms, which just weeks ago were predicting acquisitions worth $100 billion and more, are now finding large-scale borrowing too expensive...

$24B Buyout Buzz Boosts Macy's Shares

KKR and Goldman considering offer

(Newser) - Shares in Macy's soared amid reports of a pending $24-billion buyout plan by KKR and Goldman Sachs, reports Bloomberg. Stock rose $3.06—7.6%—to $43.09 after Women's Wear Daily reported the news. The Wall Street firms would pay $52 a share—a 30% premium on Wednesday's close,...

Private-Equity $$ Flow to GOP
Private-Equity $$ Flow to GOP
Jul 17, 2007 3:36 PM CDT

Private-Equity $$ Flow to GOP

Firms shift money as Dems back higher taxes on industry

(Newser) - As Democrats push higher taxes for private-equity firms, the firms are reciprocating by  funneling more money to the other side of the aisle, the Wall Street Journal reports. Figures for 2008 presidential campaign giving show GOP contenders receiving 53% of donations made by private-equity funds. In 2000 and 2004, Democrats...

Funds Can't Find Friends in Anti-Tax Fight

As Senate starts tax hearings, masters of the universe find they're short on pals

(Newser) - Wall Street's hedge-fund and private-equity titans are looking for allies in their fight to prevent a tax hike on profits—but they're having trouble recruiting, today's Journal reports. As the first Senate hearings on the proposed hikes get under way, representatives from venture capital, public pension funds, and investment firms...

CVC Makes $2B Play for Univar
CVC Makes $2B Play for Univar
Jul 9, 2007 10:52 AM CDT

CVC Makes $2B Play for Univar

Private equity firm sets sights on US market with purchase of chemical supplier

(Newser) - Europe's second-largest private equity fund will purchase Univar, one of the world's biggest chemical distributors, in a deal worth $2.1 billion (€1.52 billion), Bloomberg reports. CVC Capital Partners will pay €53.50 per share, a nearly 40% premium over Friday's closing price, to acquire the largest...

Euro Hotels Hot After Blackstone Deal

Stocks soar on speculation of more private equity buyouts

(Newser) - Investors are snapping up shares of some Europe's biggest hotel chains, the Financial Times reports, as the market bets that more private equity firms will tuck into new cross-Atlantic deals. They're inspired by Blackstone's $26 billion Hilton offer, and a banner year for hotel buyouts more generally.

Blackstone Books Hilton For $26B
Blackstone Books Hilton For $26B
Jul 3, 2007 8:38 PM CDT

Blackstone Books Hilton For $26B

Offer represents 40% premium; chain to stick to hotel management

(Newser) - Blackstone moved to expand its hotel portfolio in a big way late today, making a deal to take Hilton private for $26 billion, including $7.5 billion in debt. The $47.50 per share offer, 40% more than yesterday's close, turned the head of the chain's CEO, who called it...

KKR Makes IPO Official
KKR Makes
IPO Official
Jul 3, 2007 7:34 PM CDT

KKR Makes IPO Official

Private equity behemoth follows Blackstone into the public pool

(Newser) - Undeterred by the possibility of potentially devastatingly tax-law changes, Kohlberg Kravis Roberts firmed up its IPO plans today, filing SEC documents that value the issue at up to $1.25 billion. The private (for now) equity firm said it will list as a partnership, like archrival Blackstone, which went public...

BCE Agrees to Landmark LBO
BCE Agrees to Landmark LBO
Jul 1, 2007 10:24 AM CDT

BCE Agrees to Landmark LBO

Ontario teachers' retirement fund lines up largest Canadian takeover ever

(Newser) - Canada's dominant telecom company will go private in the country's biggest takeover ever, and one of the largest LBOs in the world. A powerful teachers' retirement fund and two American private-equity firms made a deal yesterday for CBE, also known as Bell Canada. The $48.5 billion (C$51.7 billion)...

Wall Street, GOP Team Up on Tax Bill

Proposal would raise tax rate for private-equity profits from 15% to 35%

(Newser) - Wall Street stormed Washington yesterday, as more than 70 lobbyists for financial firms met with GOP lawmakers to organize opposition to a bill that would raise the tax rate on private-equity partners. The proposal would require managers at private partnerships to pay the normal income tax rate of up to...

KKR Joins IPO Party
KKR Joins
IPO Party
Jun 22, 2007 9:05 AM CDT

KKR Joins IPO Party

After Blackstone's triumph, barbarians at the public gate

(Newser) - Corporate raiders Kohlberg Kravis Roberts & Co. have announced an initial public offering, on the heels of a wildly successful $34B IPO by rival Blackstone yesterday. The mammoth LBO group, whose boss Henry Kravis maintains a well known rivalry with Blackstone's Stephen Schwarzmann, waited to make sure Blackstone swam before...

Blackstone IPO Fetches $4.13B
Blackstone IPO Fetches $4.13B
Jun 21, 2007 5:05 PM CDT

Blackstone IPO Fetches $4.13B

Private equity giant enjoys largest US debut in 5 years; Schwarzman enjoys largest share

(Newser) - The Blackstone Group went public today, selling 133.3 million shares at $31 and raking in $4.13 billion, the largest American IPO since 2002. The keenly anticipated issue values the private equity firm, founded by Stephen Schwarzman 27 years ago with $400,000, at $33.5 billion; the price...

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