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Private Equity

Sun Capital Buys ScS Unit

July 3, 2008 - Sun European Partners, a European investment affiliate of Sun Capital Partners, has acquired the trading subsidiary of UK retail sofa seller ScS Upholstery, as the parent company has gone into administration.

Another Rough Month For Financial-Services Jobs

July 3, 2008 - For professionals on Wall Street, the June jobs number confirmed what many already knew: The financial-services segment of the US economy lost jobs last month.

Huntsman, Hexion Saga Continues

July 3, 2008 - The tango between Hexion Specialty Chemicals and Huntsman, a process tght started about a year ago, goes on.

Carlyle, Crown Wrap Up Real Estate Buy

July 2, 2008 - The Carlyle Group and Crown Acquisitions said Wednesday they have completed their $525 million joint venture purchase of a controlling interest in the retail segment of 666 Fifth Avenue from the building’s owner, Kushner Cos.

Needham Appoints Private Placements Head

July 1, 2008 - Peter Bennett, formerly head of private placements at Deutsche Bank, Piper Jaffray and Lazard Middle Market, has been tapped to lead the private placement group at Needham & Co.

CIT Exits Mortgage Business

July 1, 2008 - CIT Group will sell its home lending business and manufactured housing portfolio in a move to reduce mortgage exposure as the global finance company redirects its focus on commercial finance.

BSMB, Arlander Split

July 1, 2008 - Bear Stearns Merchant Banking, the former PE arm of Bear Stearns, said that upon its spinout as an independent group it will no longer maintain a San Francisco office, effectively cutting free senior managing director and founding partner Bodil Arlander.

Hicks Seals $3.2B Plastics Packaging IPO

June 30, 2008 - Hicks Acquisition Co., a SPAC established by private equity financier Thomas Hicks, said Monday that it has reached an agreement to go public with Graham Packaging Holdings in a $3.2 billion transaction with The Blackstone Group, marking potentially the largest deal to be executed between a blank check entity and an industrial company.

Spain's Restructuring Pull

June 30, 2008 - Spain may be on top of the soccer world after its recent win in the European Cup, but it’s apparently just as proficient at something else: luring restructuring pros.

Carlyle Boosts Financial Services Group

June 27, 2008 - The Carlyle Group has added a tenth professional to its global financial services team, which aims to recapitalize distressed players in the sector. James Burr, most recently corporate treasurer of Wachovia, will join Carlyle as a managing director on Aug. 1.

Morgan Stanley Seals Learning Care Deal

June 26, 2008 - Morgan Stanley Private Equity has completed its $700 million acquisition of children’s education provider Learning Care Group. The transaction is Morgan Stanley Private Equity's third US investment.

Energy Investors Secures $985M For Power Plant Operator

June 26, 2008 - Energy Investors Funds, a New York private equity energy investment firm, said Thursday it has secured $985 million in new financing for power plant operator Kleen Energy Systems.

Barclays Raising $9 Billion From Foreign Investors

June 25, 2008 - Barclays said on Wednesday it plans to raise $8.9 billion through the sale of 1.6 billion shares to buttress its capital base and boost its capital ratios.

Korean Court Reverses Lone Star Verdict

June 25, 2008 - After years of battling South Korean prosecutors, Lone Star Funds finally got some good news after an appeals court reversed a guilty verdict against the firm and Paul Yoo, who headed its operations in the region. Regulators had charged Lone Star with manipulating stock prices ahead of its majority-stake investment in Korea Exchange Bank.

Former Bear Exec Named CEO Of Modern Bank

June 24, 2008 - Modern Bank, a private bank that caters to high net-worth clients, said Tuesday it hired the former chairman and chief executive of Bear Stearns' asset management group, Jeffrey Lane, as its new chief executive.