Hints and tips:
...Jig is up for ‘Texas two-step’ A landmark court decision could jeopardise Johnson & Johnson’s bankruptcy scheme to manage billions of dollars of legal claims from cancer sufferers, the FT reports....
...The letter, organised by Levi Strauss & Co. and gun control advocacy group Everytown, was signed by CEOs of companies including DICK’S Sporting Goods, Lyft, Bloomberg LP and Bain Capital....
...The Texas-based group, whose investments include Spotify, Uber and Airbnb, has $109bn in assets....
...It had been weighed down by several disastrous bets, most notably its buyouts of Texas utility TXU and casino empire Caesars Entertainment....
...Bonderman, 79, and Coulter, 62, co-founded TPG in 1992 after cutting their teeth as dealmakers working under Texas oilman Robert Bass....
...In the first instance, a pair of private equity firms, KKR and Global Infrastructure Partners, announced that they would acquire Texas-based data centre operator CyrusOne for $15bn....
...Since being ousted he has landed at Goldman Sachs as its new Asia co-president....
...But it stumbled in the crisis, weighed down by bad bets like the buyout of Texas utility Energy Future Holdings and casino empire Caesars Entertainment, as well as the rescue financing of Washington Mutual...
...The private equity firms buying into each other’s deals DD has told you before about the close relationship between KKR co-founder George Roberts and Egon Durban, co-head of Silver Lake....
...BMG has built an eclectic catalogue of artists since it sold its original business to Sony including a number of heritage acts including Texas, Iron Maiden and Boy George and new musicians such as Mabel,...
...The PWP reverse merger, which may be announced in December, will help the company reduce the debt it took on when it acquired Texas boutique Tudor, Pickering, Holt & Co in 2016, as well as give liquidity...
...The deal will see Epicor, which is based in Austin, Texas, pass into its third set of private equity hands in less than a decade....
...faces legal action for pulling out of Cineplex deal (FT) Warburg Pincus-backed group nears 58.com buyout deal (BBG) David Cameron pushes ahead with troubled $1bn China fund (FT) Investor’s attack on Texas...
...Some of the most unsuccessful leveraged buyouts in history have fallen into that category, such as the 2007 deal by a consortium including TPG and KKR to buy Texas power company TXU, which filed for bankruptcy...
...The group, which has made billionaires of David Bonderman and James Coulter since they co-founded it as Texas Pacific Group in 1992, opened an office in London ahead of many US rivals and has been behind...
...Texas-based TPG is soliciting money for a second impact fund after its first, known as the Rise Fund and which closed in 2017, drew $2bn....
...Geller & Co is run by Mr Bloomberg’s longtime accountant and financial adviser Martin Geller, who sits on the board of Bloomberg LP, Mr Bloomberg’s eponymous financial data company....
...Kathleen McCarthy, co-head of real estate at Blackstone, said “property valuations today mean we have to work hard to find good deals” but she was confident her unit would continue to deliver attractive...
...Dave Butler, co-chief executive of Dimensional, says Austin was chosen at a time when the company needed space....
...So far, results from Evercore, Lazard, Greenhill & Co and Houlihan Lokey are out....
...Brent crude was 1.1 per cent higher at $81.34 a barrel and West Texas Intermediate was up 1.1 per cent at $72.08 a barrel....
...These include 2007’s $45bn takeover of Texas utility company TXU by private equity companies led by Kohlberg Kravis Roberts and TPG....
...Hockey stick returns David Bonderman, being the founder of Texas Pacific Group (now known as TPG), is big in both San Francisco and Fort Worth....
...In 2014, investors, including Paulson & Co, suffered paper losses after US pharmaceuticals group AbbVie walked away from its £32bn deal to buy Shire....
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