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Private Equity

Deutsche Takes Control of Sal. Oppenheim

March 16, 2010 - Deutsche Bank has completed its $1.3 billion (€1 billion) acquisition of German private bank Sal. Oppenheim.

Sterling Group Rounds Up $820M for New Fund

March 16, 2010 - The Sterling Group said Tuesday that it raised $820 million for its third investment fund, exceeding its initial target of $600 million.

New Investment in Hedge Funds Seen Topping $220B

March 16, 2010 - Hedge fund inflows are expected to top $220 billion this year as asset levels return to near pre-crisis levels.

Dodd Releases Details of Reform Bill

March 15, 2010 - Senate Banking Committee Chairman Chris Dodd on Monday released a broad outline of his regulatory reform bill, which heavily reflects input from Republicans who still say they oppose the bill.

Phillips-Van Heusen Buys Hilfiger

March 15, 2010 - British clothing company Phillips-Van Heusen will acquire Tommy Hilfiger Corp. for about $3 billion.

KKR IPO Filing Raises Succession Question

March 15, 2010 - Kohlberg Kravis Roberts is planning to go public, raising the question of who will eventually succeed Henry Kravis and George Roberts in running the firm.

Firefly Energy to Submit Chapter 7 Filing

March 15, 2010 - Lead-acid battery technology developer Firefly Energy Inc. will soon file for Chapter 7 bankruptcy. The Peoria, Ill.-based company was founded in May 2003 as a spin-off of Caterpillar.

EnviroSolutions Files Prepackaged Chapter 11 Plan

March 15, 2010 - EnviroSolutions Holdings, a portfolio company of Investcorp, has filed its prepackaged Chapter 11 petition with the U.S. Bankruptcy Court for the Southern District of New York.

KKR Revamps Asset Management Debt Team

March 12, 2010 - Kohlberg Kravis Roberts has promoted four professionals in its asset management department to run the firm's asset management global special situations strategy, which includes distressed debt, debtor-in-possession and rescue financing, as well as other structured investments.

HY Fund Inflows Set Record

March 12, 2010 - High-yield bond funds took in more than $1 billion for the week ended March 10, research firm EPFR Global announced today. The total marks the highest weekly inflow since the firm began tracking fund flows.

Cerberus Backs GeoEye

March 11, 2010 - Cerberus Capital Management will back GeoEye Inc., providing up to $100 million in debt and buying stock. Private equity began making consolidation plays in the government services space late last year.

Senators to Introduce Bill to Enact Volcker Rule

March 10, 2010 - Two Senate Democrats announced Wednesday they will introduce legislation that would restrict commercial banks' ability to engage in proprietary trading, the first step by lawmakers to implement the Obama administration's so-called "Volcker Rule."

Greentech Grows Private Placement Effort

March 10, 2010 - Greentech Capital Advisors has nabbed Deutsche Bank private placement veteran Heather Smith to spearhead its efforts in the market.

Houlihan Launches Fin Tech Group

March 10, 2010 - Houlihan Lokey hired Robert Hyer Jr. as a managing director in charge of its new financial technology banking group.

Lone Star to Sell Korean Bank Stake

March 10, 2010 - Lone Star Funds is selling its majority interest in Korea Exchange Bank. This isn’t Lone Star’s first attempt at a sale.