August 25, 2008 |
The economy is soft and the credit markets are tight, but that hasn't stopped Triton Pacific Capital Partners from making deals. The Century City-based private equity firm is completing the purchase of two companies and is on the prowl for other acquisitions. "We're able to go and continue to find very attractive investment opportunities even in a constrained financing environment," said Craig Faggen, Triton's managing partner. At a time when the biggest players in the private equity industry are suffering through a bruising downturn, smaller firms such as Triton Pacific that invest in mid-size -- or "middle market" -- companies have emerged as a rare bright spot.
May 3, 2007 |
As Hollywood gears up for an expected blockbuster summer season, two of the biggest movie theater chains are offering a rare double feature: themselves. In an initial public offering last week, exhibitor Cinemark Holdings Inc. sold shares worth $532 million. AMC Entertainment Inc. plans to launch an even bigger IPO this week, estimated at as much as $789 million.
September 7, 2007 |
Investment executives said Thursday that proposals to raise the taxes paid by private equity and hedge fund managers would harm the economy and financial markets. "There is no justification" for changing the way managers are taxed, said Bruce E. Rosenblum, chairman of the Private Equity Council and managing director of the Carlyle Group, in testimony before the House Ways and Means Committee.
June 23, 2007 |
Shares of Blackstone Group rose 13% in their first day of trading Friday, as investors rushed to latch onto the private equity boom that has swept corporate and financial America. Given the fanfare surrounding the company, the event seemed more like the coronation of a new Wall Street monarch than the public debut of an up-and-coming company.
May 15, 2007 |
The deal that gives control of auto giant Chrysler Group to private equity firm Cerberus Capital Management may be a defining moment for the new "masters of the universe" -- the buyout chieftains who are sweeping large chunks of corporate America into their portfolios. How Cerberus handles Chrysler also could shape, or reshape, the public image of buyout firms at a time when their growing power has raised concerns about their long-term effect on the health of the U.S. economy.
May 20, 2007 |
The website of his private equity firm notes that Pat Haden graduated Phi Beta Kappa from USC, was a Rhodes scholar and earned his law degree at Loyola. Absent is any mention of his standout college and professional football careers. That's the way Haden likes it. "I try to distance myself to a certain extent from my athletic career," he says. "We've all seen athletes who hang on to their glory days a little too long."
May 26, 2008 |
A year ago, private equity executives were Wall Street's new masters of the universe, riding an era of easy money to unparalleled success by pulling off record-setting buyouts and pulling down monstrous paydays. The industry became so synonymous with making money that buyout giant Blackstone Group, a specialist in taking companies private, itself went public in June in a multibillion-dollar stock offering. And the firm's chief executive, Stephen A.
March 9, 2006 |
VNU, Dutch owner of research company ACNielsen, accepted a $9-billion cash takeover offer by private equity firms, but the deal looked doomed to failure after an icy reception from investors. The private equity firms, in an agreement announced Wednesday, raised their bid slightly to $34.23 a share, but VNU shares were trading at a 4.8% discount to the value of the offer -- signaling market doubts that the takeover would succeed.
July 21, 2007 |
In a new age of fabulous fortunes, the tax rate paid by a breed of financial billionaires is fueling a Wall Street-versus-Washington dispute over fairness in the U.S. economy. Leaders of private equity firms such as Blackstone Group and Kohlberg Kravis Roberts & Co. are reaping huge paydays as they buy and sell some of America's biggest companies. But much of the money they pocket is considered investment income, and taxed at the 15% rate for capital gains.
March 26, 2011 |
It's the name behind some of the most recognized brands around, including Carl's Jr. restaurants, Norwegian Cruise Lines and Smart & Final warehouse stores. It's also the name that came up, again and again, in a recent independent report about corruption inside the nation's largest public pension system. Apollo Global Management, a New York private equity investment firm, was not accused of wrongdoing in its dealings with the California Public Employees' Retirement System. But the report detailed how Apollo had paid tens of millions of dollars to a former CalPERS board member who helped it land billions of dollars of investments from the massive pension fund.