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lbo
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Latest Headlines
How can private equity regain its luster?
The private equity business stands at a crossroads as the industry pioneers eye retirement and the need to go public, as the top firms struggle to diversify, and as returns to limited partners continue to flag.
The Golden Era has passed. What does the future hold?
There are lots of opinio
Morgan Stanley facing suits in Tribune buyout case?
The Tribune Co. has hired law firm Novack and Macey to counsel whether it should sue Morgan Stanley, which was advising a special committee of the Tribune's board. At issue are charges by junior creditors that the assets were fraudulently conveyed during the two-step buyout in 2007, which was led
Freescale to follow NXP to IPO?
NXP's initial public offering ( IPO news) didn't exactly wow the market. So what does that mean for Freescale? It was purchased in 2006 by Blackstone Group ( Blackstone Group news) and other private equity firms, and like NXP, it has been struggling ever since with high debt levels. Now, man
Recovery in leveraged loan market?
IDD reports that the syndicated loan market is still struggling. A big part of that is the on-going drought in leveraged loan issuance, which reflects largely the slowdown in LBO activity. New issuance of loans backing buyouts fell 86 percent in the second quarter to $7.9 billion. That compare
Oaktree raises massive distressed debt fund
We've noted that valuations have improved for some on-the-brink debts as of late, notably leveraged loans and some credit default swaps. The trading psychology seems to be improving in part because of the massive bets that private equity firms and hedge funds seem to be making on distresse
Pressure on at Citigroup
Citigroup  reports earnings on April 18. So it was imperative that they got a deal for those LBO loans they just sold, notes a Seeking Alpha item. Still, you have to wonder how much this will really help. Most assume it is a step in the right direction, but Citigroup continues to have a l
When Dimon gets involved, JP Morgan gets sued
Portfolio chides Jaime Dimon for his take-charge approach, which has led to two suits recently. The news that Amaranth has sued JP Morgan certainly generated some buzz. The suit argues that JP Morgan interfered with Amaranth's deal to sell some assets to Goldman Sachs, a "devastating" blow. A
More on the bank bridge loan problem
The fact that top banks are on the hook for about $300 billion in bridge loan commitments to finance buyouts has been discussed ad nauseam. Barron's adds to the discussion by offering some specific examples of how the banks made themselves putty in the hands of sponsors. "Vivid" examples:
Would be targets breathing easier?
Just what are the silver linings in all this credit turmoil? Well, there have been some hedge funds that bet correctly , as we've noted. Equities look better in general. Treasury yields have dipped. And you can almost hear the sigh of relief from would-be targets. As financing dries up, compani
