Stocks slumped Thursday morning, as investors eyed record high oil and gold prices, the dollar at an all-time low versus the euro, weak retail sales and the potential collapse of mortgage bond fund Carlyle Capital.
Blackstone's meager quarterly earnings is just the latest example of the stunning reversal of fortune suffered by the private equity shops that once dominated Wall Street's food chain.
Throw a heavy user of short-term financing into an increasingly fearful market, and you have the makings of a disaster - as investors in Carlyle Capital learned this week to their dismay.
Stock futures fell early Friday as a weak monthly job report and mounting credit worries took a toll on sentiment and investors.
An investment executive who paid more than $20 million for an original, handwritten copy of the Magna Carta presented the ancient paper Monday to the media and plans to loan it to the National Archives.
The only copy of the Magna Carta in the United States, regarded as the earliest declaration of human rights, will be returned to the National Archives by the man who purchased it for more than $21.3 million.
Despite turmoil in the credit markets, a string of broken deals, and a dramatic slowdown in M&A this quarter, the private equity deal machine is still humming, says a report released Friday.
Private equity firms were pressed to disclose more information about their businesses Tuesday after the publication of an industry code of conduct aimed at allaying criticism of the buyout industry.
The golden age of private equity may be over, but don't count on the new kings of Wall Street to relinquish their throne easily.
While U.S. and European markets try to gauge the bottom of the sub-prime lending crisis, government-controlled funds in the Persian Gulf have been on a spending spree, investing billions of dollars in companies around the world.
Stocks slumped Thursday morning, as investors eyed record high oil and gold prices, the dollar at an all-time low versus the euro, weak retail sales and the potential collapse of mortgage bond fund Carlyle Capital.
Blackstone's meager quarterly earnings is just the latest example of the stunning reversal of fortune suffered by the private equity shops that once dominated Wall Street's food chain.
Throw a heavy user of short-term financing into an increasingly fearful market, and you have the makings of a disaster - as investors in Carlyle Capital learned this week to their dismay.
Stock futures fell early Friday as a weak monthly job report and mounting credit worries took a toll on sentiment and investors.
An investment executive who paid more than $20 million for an original, handwritten copy of the Magna Carta presented the ancient paper Monday to the media and plans to loan it to the National Archives.
The only copy of the Magna Carta in the United States, regarded as the earliest declaration of human rights, will be returned to the National Archives by the man who purchased it for more than $21.3 million.
Despite turmoil in the credit markets, a string of broken deals, and a dramatic slowdown in M&A this quarter, the private equity deal machine is still humming, says a report released Friday.
Private equity firms were pressed to disclose more information about their businesses Tuesday after the publication of an industry code of conduct aimed at allaying criticism of the buyout industry.
The golden age of private equity may be over, but don't count on the new kings of Wall Street to relinquish their throne easily.
While U.S. and European markets try to gauge the bottom of the sub-prime lending crisis, government-controlled funds in the Persian Gulf have been on a spending spree, investing billions of dollars in companies around the world.
Private equity firms have been battered by the credit crunch on all sides, but the biggest hit of all may come when they attempt to unwind the billions of dollars worth of investments they have made in recent years.
Private-equity firm the Carlyle Group said Thursday it sold a 7.5 percent stake in its general partnership operations for $1.35 billion to an investment arm of the government of Abu Dhabi.
Picking off land from over-leveraged homebuilders during crashing real estate markets was once the purview of local developers. This time, however, global players, including D.E. Shaw, Apollo Real Estate Advisors, and the Rockefeller Group, are eyeing land in Florida, Colorado, California, and other subprime-ravaged states.
In the latest sign of problems in the credit markets, private equity firm Carlyle Group has indefinitely postponed the sale of a cable company because bidders did not meet its price, according to a published report.
The private-equity spigot hasn't turned off completely.
When the hordes of spectators, dignitaries, corporate sponsors, and other assorted visitors descend on Beijing next summer for the Olympic Games, some might be surprised to discover how many locals speak good English.
Carlyle Capital Corp Ltd., a unit of private equity firm Carlyle Group, said on Wednesday it hopes the worst of the credit crunch has passed, allowing it to resume paying a dividend.
Home Depot said on Tuesday that it would sell its wholesale supply business to buyout firms for $8.5 billion - nearly 18 percent less than previously agreed upon - as the U.S. housing slump and recent credit crunch forced renegotiation of the deal.
The trio of private-equity firms buying Home Depot's wholesale supply unit decided to stay with the deal, but they could have walked away from the negotiations - for a modest fee.
Home Depot Inc agreed to cut the price of its supply division sale to buyout firms by $1.8 billion as a housing market drop and a credit crunch forced all sides to renegotiate.
Home Depot was close to taking $1.2 billion less for the sale of its wholesale distribution unit Thursday night, but the deal with three private-equity firms is still uncertain according to a published report citing people familiar with the matter.
A private equity-led buyout of home-improvement retailer Home Depot's wholesale supply division, due to close Thursday, could be in trouble because investment banks involved are reluctant to fund the transaction even at a lower price, the Financial Times reported, citing people familiar with the negotiations.
General Motors Corp. will record a gain of $5.1 billion to $5.4 billion in the third quarter, on the sale of its Allison Transmission unit, the automaker said in a filing with regulators Monday.
Home Depot said Thursday it was in talks with private equity buyers of its HD Supply unit about lowering the original purchase price of $10.3 billion.
British cable operator Virgin Media on Tuesday postponed the sale of the company after it became apparent buyers would not have access to the debt needed to do a deal right away.
U.S. media mogul John Malone is considering entering a $23 billion auction for Virgin Media, joining several potential suitors for the British cable operator, sources familiar with the matter said Monday.
GM's plans to sell its Allison Transmission unit have hit hit a roadblock due to an increasingly difficult market for corporate debt, according to a published report.
The U.S. rental-car business has long had two rulers. Hertz, with 2006 revenues of $8.1 billion, has dominated the airport business ever since it started serving Chicago's Midway in 1932. Enterprise, with revenues of more than $9 billion, has virtually had a lock on the off-airport business, with a 55% market share.
Stocks struggled Monday, resting after a big runup last week and weary as traders eye the upcoming earnings reports, which begins after the closing bell.
Private equity firm The Carlyle Group announced a $2.7 billion deal to buy diversified manufacturer Sequa Group early Monday, agreeing to pay a premium of 54 percent to Friday's closing price.
While Wall Street cleared out for the July 4 holiday, two of the leading names in private equity made blockbuster announcements - flexing their might at a time when buyout deals are coming under increasing pressure.
As the benign market conditions that have fueled the buyout boom come under pressure, the swelling ranks of private equity firms are likely to be winnowed, leaving only the strongest and sharpest players.
Carlyle Capital Corporation Ltd. began trade on Amsterdam's stock exchange at $20 per share Wednesday, after a trimmed initial public offering that raised $303.5 million for the affiliate of Carlyle Group.
Nursing home operator Manor Care Inc. said Monday it has agreed to be taken private by private equity firm Carlyle Group for $6.3 billion, including assumed debt.
Virgin Media said Monday it has received a takeover offer, but the British cable company, whose largest investor is Richard Branson, declined to name the bidder and said it isn't negotiating about a possible buyout.
DECONSTRUCTING THE DOW: Nice second quarter, right? S&P up 5.8 percent, best tally since Q4 of '06. Naz up 7.5 percent, best since Q4 '04. And as for the Dow, it truly rocked! Up 8.5 percent, best since way back in '03. Why did the big daddy index rule? You would think the answer would be one simple phrase: Sheer energy! (I love energy - tee hee.)
Stocks turned higher Thursday as investors brushed aside a lackluster reading on the economy and turned their attention to the impending Federal Reserve interest rate statement, due this afternoon.
Stocks struggled Thursday as investors weighed a lackluster reading on economic growth and awaited the closely watched Federal Reserve interest rate statement due later in the day.
Troubled U.S. automaker General Motors announced a deal Thursday to sell subsidiary Allison Transmission to private-equity firms The Carlyle Group and Canada-based Onex Corporation for $5.57 billion.
Stocks struggled early Thursday as investors weighed a lackluster reading on economic growth and exercised caution ahead of the closely watched Federal Reserve interest rate statement due later this afternoon.
Carlyle Group, a U.S. private equity firm, is considering a stock market listing similar to last week's initial public offering by rival Blackstone, Dow Jones Newswires reported Wednesday.
When you first meet Mohamed El-Erian, 48, who heads up Harvard University's $30 billion endowment, two things immediately strike you: First, he's incredibly sharp, particularly when it comes to highbrow things like geo-political economics; second, despite being one of the world's most respected money managers, he's the antithesis of a hubristic hedgie or swaggering Wall Streeter: the Oxford and Cambridge-educated Egyptian is enormously polite and charming.
Private equity titan TPG may sell part of itself to some of its large investors, according to a report Tuesday.
Private equity's power players may be basking in their riches, but one thing their money can't buy is more time.
Big deals - many of them by private equity buyers - have helped power the stock market's recent rally, but the best days of the buyout boom may be over.
Big deals have helped power the stock market's recent rally, but the best days of the buyout boom may be over.
Carlyle Group has been considering a plan to go public, but such a move would present certain challenges, co-founder Daniel D'Aniello said Tuesday.
If you haven't been paying attention to private equity - now's the time to study up.
Dubai Aerospace Enterprise (DAE) is nearing a deal to buy a series of aviation businesses from U.S. private equity firm Carlyle Group for more than $1.5 billion, a source familiar with the matter said on Monday.
Here are some of the stocks actively trading on Monday:
Private equity firms are making a bigger push to go global, underscoring just how crowded the market has gotten for buyout deals in the United States.
With buyout firms raising record amounts of cash and taking companies private at a frenetic pace, the once clubby world of private equity is getting thrust into the public spotlight - and a backlash is brewing.
One of private equity's most lauded dealmakers said he regrets not being more aggressive the last few years.
Wall Street rivals Goldman Sachs Group and Morgan Stanley are quietly collaborating on a massive private-equity play for the oil and gas assets of utility company Dominion Resources, according to a published report.
In the months before its Nov. 15 IPO, Hertz hit the road. The company had an ambitious plan to pitch to investors: extend its dominance in airport car rentals to the leisure market while slashing c...
Every generation of MBA students has its dream job.
Vacuuming fat from more than 455,000 patients - and some $1.2 billion out of their wallets - made liposuction the No. 1 cosmetic-surgery procedure in the U.S. in 2005. Like many operations, standar...
If you want to get to the bottom of today's historic boom in private equity, just follow Tom von Krannichfeldt around.
IPOs are back in style, and private owners are putting some of their biggest names up on the block.
Hardly a day goes by without another marquee-name public company being bought out by one of Wall Street's private-equity goliaths. You've seen the headlines: HCA, Harrah's, Albertson's - they're ju...
Here are some of Monday's late-moving stocks:
An ongoing battle between South Korean prosecutors and a U.S. private-equity fund looking to cash out a $4 billion profit appears to be making foreign firms skittish about doing M&A deals in Korea.
In what is expected to be one of the largest IPOs of the year, Hertz Corp., which was bought from Ford late last year by three private equity firms, is said to be preparing registration papers for its market debut, according to The Wall Street Journal.
There are plenty of good commercial ventures that with the right management and funding, have returned high returns to investors well before they made it onto the stock market.
The Grand Ballroom at the Pierre Hotel in New York City is an unlikely place to hear people talk about "clubbin'," particularly when they're Wall Streeters wearing expensive suits. But that was the...
The grand ballroom at the Pierre Hotel in New York is an unlikely place to hear people talk about going clubbin', particularly when they're a bunch of Wall Street types wearing expensive suits.
A deal is near for three private-equity firms to buy Dunkin' Brands for about $2 billion, according to a published report.
Ahead of a possible initial public offering, Hertz Corp. is drawing interest from several private-equity firms, a newspaper report said Monday.
Donald Trump and a consortium of Hong Kong investors agreed to sell some prime Manhattan real estate to a private-equity firm and a real-estate development company for $1.8 billion, according to The Wall Street Journal.
NEW YORK (CNN/Money) - Parachute pants. Pac-Man. Madonna...before she went cuckoo for Kaballah.
The other night I went to a screening of the new version of The Manchurian Candidate, a timely and spine-tingling--if slightly jumbled--passion play of present-day political paranoia. I was pleasan...
Buyout firms have been reaching for the skies--literally. In December, Apax Partners and Permira Advisers acquired Inmarsat. In April, Thermo Capital bought the bankrupt Globalstar satellite phone ...
Some of the most memorable moments in the film are also the most contested. A sampler:
Shares in Japan's second-largest mobile operator KDDI are higher Thursday after confirmation it is negotiating to sell part of its business in a deal worth up to $2.1 billion.
I had this dream the other night. I'm interviewing Lou Gerstner. We're in his office in Manhattan, and he's in a good mood. Why not? He bailed out of IBM at the right time, and he's now chairman of...
In December, President Bush named Thomas Kean, the former Republican governor of New Jersey, chairman of an independent commission examining the Sept. 11 terrorist attacks. But FORTUNE has learned ...
Think before you e-mail
Malcolm Gambill, CEO of conglomerate Harsco (1990 sales: about $1.7 billion), recalls meeting Frank Carlucci, 60, at a Washington embassy party, but doesn't think the former Defense Secretary remem...
Frederic Malek, 52, the former Marriott Hotels president, has set up shop as a merchant banker -- and how. In April he brought together a disparate group of investors, which includes Sumitomo Bank,...
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