May 11, 2007 |
Goldman Sachs Group this month plans to launch a market that would allow private investment firms to offer stock in themselves to well-heeled investors -- without going public. The first firm stepping up to try the brokerage's market: Oaktree Capital Management, one of the largest private investment outfits in Southern California. Los Angeles-based Oaktree is best known as an investor in "distressed" assets, including bonds of struggling companies.
April 8, 2000 |
Prison Realty Trust Inc., a struggling developer and owner of prisons and other detention facilities, said Friday it has agreed to a $200-million restructuring plan with shareholder Pacific Life Insurance Co. of Newport Beach. Under the agreement, Pacific Life, which owns about 4.5 million of Prison Realty's 118.4 million outstanding shares, will receive warrants to buy either 10% of Prison Realty common stock or 20 million shares, whichever is greater.
June 16, 2007 |
Blackstone Group on Friday warned potential investors in its initial public offering that a tax bill before Congress could reduce its earnings substantially in coming years. The tax measure, which would tax publicly traded private equity firms as corporations rather than partnerships, was introduced late Thursday by the Democratic and Republican leaders of the Senate Finance Committee. Some form of the bill is widely expected to be adopted.
June 27, 2007 |
Blackstone Group's shares slid 5.2% on Tuesday, closing below the $31 price the private equity giant fetched in its initial public offering last week, as investors worried that the private equity boom might have peaked. "There's some people who think the top of the private equity binge was marked when Blackstone became public," said Elliot Spar, market strategist with Ryan Beck & Co. in New York. Blackstone shares traded as low as $30.32 before closing at $30.75, down $1.
January 8, 2010 |
A long-delayed real estate development on the site of the former Ambassador College in Pasadena has been revived by the sale of a 10-acre portion of the campus to a builder that plans to start construction on housing in 2011. City Ventures bought the property on New Year's Day for about $15 million from New York hedge fund Fortress Investment Group, which had foreclosed on the previous owners in 2008. Santa Ana-based City Ventures plans to develop the site following plans previously approved in principle by the city.
June 21, 2007 |
In the opening pages of the document outlining its initial public stock offering, private equity giant Blackstone Group attributes its success to investing "at the right time and at the right prices." For investors who are mulling over whether to buy Blackstone stock, which is expected to begin trading publicly Friday, that investment philosophy is worth keeping in mind.
October 5, 2010 |
Thomas Tull is taking control of Legendary Pictures. The chairman of the film financing and production company has quietly led a buyout of its original investors in order to more directly steer an expansion into video games, digital media and other businesses. Under the deal that closed last week, Tull brought on two new investors to acquire nearly all the stake held by investors who backed the company's founding in 2004, according to several people familiar with the situation.
April 20, 2007 |
Money, money and more money. Investors poured more than $60 billion into hedge funds in the first three months of the year, or nearly half of the record $126 billion that flowed into the private investment pools for all of 2006, according to data released Thursday. Some naysayers have predicted that the hedge fund wave will crest. "We haven't reached that point yet," said Ken Heinz, president of Hedge Fund Research Inc. of Chicago, which released the report.
November 22, 2011 |
Oaktree Capital Management took another step forward in its planned initial public offering, but analysts believe volatile economic conditions could stall its market debut until next year. The Los Angeles investment giant filed more paperwork Monday with the Securities and Exchange Commission as it moves toward an IPO that could total more than $100 million. It is one of the world's largest money managers, with $73 billion of assets under management. The regulatory filings did not specify when Oaktree might pursue a public listing.
December 21, 2005 |
Advisors to Michael Jackson spent Tuesday negotiating to keep the once self-proclaimed "king of pop" from defaulting on $200 million in loans guaranteed by the singer's stake in the Beatles' song catalog. People familiar with the negotiations expected Jackson's representatives to secure a six-month extension to repay Fortress Investment Group, which owns loans that came due Tuesday. Fortress purchased the debt from Bank of America Corp. in April.