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Healthcare

Perella Weinberg Expands Restructuring Practice

February 26, 2010 - Perella Weinberg Partners hired Sebastien Maurin to join as a managing director in its corporate advisory group where he will concentrate on restructuring and distressed M&A.

Walgreen Will Buy Duane Reade

February 17, 2010 - Walgreen Co. has agreed to buy Duane Reade's 257 New York City area stores from a group of investors including Oak Hill Capital Partners for about $1.075 billion, which includes the assumption of debt.

B of A Merrill Names Global Corporate Banking Chief

February 17, 2010 - Bank of America Merrill Lynch has named Paul Donofrio head of its global corporate banking business.

HY Primary Market Stumbles as Issuers Pull Deals

February 16, 2010 - The high-yield bond primary market saw five deals pulled last week, bringing the total yanked so far this year to eight. This leaves $835 million in potential junk bond deals in the pipeline.

Hedge Funds Fall Slightly in January

February 8, 2010 - Hedge funds declined in January as the rally in equity markets reversed in mid-month, according to the Hennessee Group, a hedge fund advisory firm.

TLC Vision Goes to Charlesbank

February 7, 2010 - Charlesbank Capital will purchase TLC Vision Corp. via a reorganization plan in which the private-equity firm will provide $25 million in debtor-in-possession financing.

DeCode Genetics Leaves Bankruptcy in the Arms of Venture Group

January 25, 2010 - DeCode Genetics, a biotech research and development company based in Iceland, has exited bankruptcy.

Clearlake Exceeds Target

January 20, 2010 - Clearlake Capital Group wrapped up its follow-up fund, closing Clearlake Capital Partners II LP with $410 million in commitments. The final tally came in above the firm's original $350 million target.

Lincoln International Turns to Health Care

January 19, 2010 - Lincoln International is the latest to target health care, tapping three veterans from boutique investment bank GCA Savvian Advisors to spearhead the new effort.

Bankers Think PE Will Fuel IPOs, Survey Says

January 12, 2010 - Investment bank executives expect a strong increase in initial public offerings from private equity-owned companies in 2010, according to a survey by financial advisory firm BDO Seidman.

Moody’s Default Measure Falls for First Time Since January 2008

January 11, 2010 - A measure of corporate defaults tracked by Moody’s fell in the fourth quarter to 12.5% from 12.6% in the third quarter, the first time the measure has declined since January 2008.

HIG Capital Buys Surgery Partners

January 8, 2010 - HIG Capital has agreed to purchase ambulatory surgical center operator Surgery Partners Holdings, its first health-care investment in 15 months.

Greyrock Capital Closes $122M Fund

January 7, 2010 - Greyrock Capital Group closed GCG Investors II, a $122 million mezzanine and junior capital investment fund. The fund will be used to provide debt and equity to finance LBOs, recaps and internal growth needs of companies through investments ranging in size from $5 million to $15 million.

Largest Banks Gamble on Stronger Corporate Banking

January 7, 2010 - With loan defaults surging, Bank of America, Citigroup and JPMorgan Chase relied heavily on revenue from fixed-income and equity trading to offset credit-related losses in 2009. But there is growing concern that such sources of income will be weaker this year, putting more pressure on corporate finance to fill the void.

Jefferies Further Expands Health-Care Banking Team

January 7, 2010 - Jefferies & Co. has further expanded its global health-care investment banking group, hiring three professionals. The additions give Jefferies more than 50 specialists in its global health-care investment banking group in the U.S., Europe and Asia.