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US bank capital changes opposed

Private equity investors have objected to a new rule proposed by regulators that would require them to inject nearly four times the minimum capital normally required into troubled banks in which they invest

Actis in $244m buy-out deal in Africa

Egypt’s banking sector has growth potential

Private equity deals are ‘not riskier’

Finding could help battle against planned rules

Europe pushes for code for placement agents

Response to corruption scandal at US fund

Buy-out groups face conditions on bank deals

Strict capital rules to acquire US lenders

Related content and features

Dealing with the squeeze

FT series

Private Equity

In a five-part series, the FT looks at how buy-out firms are finding new ways to put their capital to work, one year on from the start of the credit squeeze

Investors critical of stakebuilding

When 3i floated its £400m Quoted Private Equity investment company in June 2007, some observers saw it as a poorly timed move

Concern over debt purchases

TPG’s profit on its share of Alltel’s debt illustrates a potential conflict of interest when private equity groups purchase debt at discounted prices in buy-out deals

Escaping the financial lock of bolt-ons

The Emap acquisition by Apax Partners and GMG highlights the difficulties of pursuing a buy-and-build strategy

Reward is worth risk for emerging market gurus

Western private equity executives monitor the situation in South Ossetia with particular concern after a $2.7bn spending spree in Russia

Perfect partners find matches blocked

Buy-out bosses say there are political and financial obstacles to investing in the financial services sector

Comment and Analysis

Private equity set to become a weapon of mass destruction

Tony Jackson

Logic suggests a lot of companies owned by private equity must be on the point of expiring under the weight of their debt. But the bankruptcy rate, though rising, is still historically low

PAI confident of strength as Monier slips away

Chief executive Dominique Mégret argues that, while some PAI companies are being buffeted by the recession, it is protected through dividend refinancing

‘Go-shop’ clauses ease investors’ deal concerns

The ‘go-shop’ clause in the $4.2bn sale of iShares to CVC Capital Partners allowed Barclays to sign a deal with one bidder and then solicit alternative buyers during a 45-day period to determine if iShares could be sold at a higher price

KKR / Oriental Brewery

The first big non-financial leveraged buy-out to be struck outside of Japan, post-Lehman, shows the formerly swaggering heroes of private equity in a new light

Private equity: bombed-out
buy-out

Image

As firms take writedowns while battling to prop up acquisitions, investors are seeking their money back from the one-time ‘masters of the universe’

McCreevy caught in the middle

The Commission’s financial package looks more like a crowd-pleaser than a serious attempt to grapple with the causes of the global banking crisis or encourage lending after the credit bubble’s collapse

Sheila Bair on proposed failed bank buy-out rules

Nearly 75% of buy-out exits end with receiver

Carlyle raises $1bn for Asia growth fund

Candover ends talks with potential buyers

Private equity to take more minority stakes

Sweden rides to defence of hedge funds

Private equity attacks EU plan

KKR rethinks plan for New York listing

Asian companies eager to tap capital markets

Asia set for buy-out revival