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Latest Headlines
The meaning of KKR's brewery deal
Bloomberg takes a look at KKR's $1.8 billion deal for Oriental Brewery Co., which was sold by Anheuser-Busch InBev NV and notes a twist: The seller will have an option to buy back the asset after five years, given certain conditions, at 11 times EBITDA. The deal was struck at a multiple of 8 o
Consumer credit: Banks gain, customer pain
Banks are cutting back on consumer credit at an accelerating pace, says bank analyst Meredith Whitney. Citigroup, Bank of America and JPMorgan Chase, which account for three-fifths of all unused credit lines, cut $320 billion in consumer credit lines in the first quarter, after cutting $308 billio
Pimco sees hiring opportunity in Wall Street crunch
Pimco is making it known on Wall Street that it is hiring. It has apparently approached between five and 10 top banks, presumably via HR, and asked them to inform pink-slipped employees of openings at the big California fund manager, according to the Financial Time s. Clearly, there are a lot
Deal trends not so great in 2008; opportunity?
U.S. private equity deals valued at $520 billion closed in 2007. That's more than double the value of such deals the previous year (Dealogic). But no one is celebrating the record year, for obvious reasons. The current year is off to a really slow start, continuing the slowing pace establishe
Some hedge funds find a niche amid crisis
You've got to hand it to Ambit Bridge Loan Fund and the Stillwater Capital Partners, two hedge funds that have found a way to thrive as credit markets melted. Both are in the business of providing short-term funding to real estate concerns, FINalternatives notes. As traditional lending from b
Hedge fund industry still strong
In the third quarter, hedge funds added $45.2 billion in new assets, says Hedge Fund Research. The good news is that industry is on pace to break last year's annual record of about $130 billion. The bad news is that the flow of new assets is slowing. Still, it hasn't slowed to the point that
Bright spot: European deals for U.S. companies
Most people expect the pace of deals to slow. But here's a bright spot that seems to have been lost in the credit crunch : European companies are taking advantage of the weak dollar to snap up U.S. companies. According to Financial News Online , European companies have so far spent $150 bil
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When will institutions give up on private equity?
The news sounds good on the surface. Buyout funds have raised $139 billion so far in 2007, which puts them on track to beat the $212 billion raised in 2006, according to Private Equity Intelligence. That Blackstone was able to close on a $22 billion fund was some welcome good news in a tough envir
ALSO NOTED: Buyouts, slow IPO pace leaves much fewer stocks; Dow Jones reportedly takes no action on bid; and much more...
Company News: > Blackstone's advisory ambitions are high. Article Industry
