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Blackstone’s Schwarzman tops 2014 private equity earnings
(Reuters) – Blackstone Group Chief Executive Stephen Schwarzman took home $690 million in 2014, more than any other private equity executive, as his firm and the wider industry benefited from the...
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Exclusive: TPG raises $6.5 billion for new buyout fund
Private equity firm TPG Capital is expected to inform investors that it has held a first close of around $6.5 billion for its seventh flagship fund, Fortune has learned. Sources say that the close...
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KKR mum on David Petraeus plea deal (updated)
Former CIA director David Petraeus has reached a plea agreement with federal prosecutors, related to the alleged sharing of classified information with his former mistress. Under terms of the deal,...
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Ex-CCMP Capital CEO Steve Murray passes away
Steve Murray, the former president and CEO of private equity firm CCMP Capital, has passed away at the age of 52. Murray left CCMP last month due to what the firm referred to as “health-related”...
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6 small bites on the giant Heinz/Kraft merger
Today’s big deal is that H.J. Heinz Co. is returning to the public markets via a massive reverse merger with Kraft Foods Group KRFT . The combined company would have around $28 billion in annual...
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Case against ‘Diva of Distressed’ exposes problems in a hot Wall Street market
Lynn Tilton seemed like the right kind of person to manage one of Wall Street’s hottest and most opaque investments, so-called collateralized loan obligations, or CLOs. She had a reputation for letting...
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Private equity is changing slower than you’ve heard
There is a burgeoning narrative about how private equity is reconsidering its traditional model, with eyes toward raising long-dated funds that would allow them to hold portfolio companies for 20 years...
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M&A mania: Deal activity hits 8-year high
We have just a few hours left in the first quarter of 2015, which will go down as the richest first quarter for mergers and acquisitions since Q1 2007. According to preliminary data from Thomson...
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GoDaddy CEO talks IPO, Google and Janet Yellen
GoDaddy GDDY is known for its risque advertisements, but actually sells fairly boring web hosting and management services to small businesses. It sometimes is referred to as a Silicon Valley tech...
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Private equity ‘Diva’ Tilton: SEC violated my rights
Lynn Tilton, the private equity executive and loan fund manager who was sued earlier this week by the Securities and Exchange Commission, went on CNBC on Wednesday to defend herself. And at least some...
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Carlyle raises $1 billion for mid-market buyout fund
The Carlyle Group CG has held a $1 billion first close on its second middle-market private equity fund, Fortune has learned. The Washington, D.C.-based firm is seeking to raise between $2 billion and...
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Ex-TPG exec alleges partner said he wanted to ‘smack’ him against a wall
TPG Capital was sued on Thursday by its former head of public affairs, who accused the private equity giant of ignoring his warnings that the firm may have violated securities regulations and defrauded...
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Macy’s, Nordstrom in the market to buy Belk? Don’t kid yourself
Belk has put out feelers to see if anyone might be interested in buying the regional 297- department store chain that is a de rigueur destination for Southeastern fashionistas. But Belk’s brass...
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Ex-TPG spokesman to TPG: You can’t sue me in Texas
Adam Levine has a message for TPG Capital: If you want to sue me for leaking classified information, you had better do it in California. Levine is TPG’s former managing director for public affairs, who...
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Warren Buffett’s deal for Axalta could impact public pensions
Berkshire Hathaway BRK.A this morning announced that it will purchase an 8.7% stake in Axalta Coating Systems Ltd. AXTA from The Carlyle Group CG via a private placement. The deal is valued at $560...
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SEC’s private equity watchdog is leaving government
Andrew Bowden is leaving the Securities and Exchange Commission at the end of April, in order to “return to the private sector.” Bowden has been with the SEC since Nov. 2011, serving as director of the...
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Exclusive: Lion Capital buying Canada’s Spence Diamonds
Private equity firm Lion Capital has quietly acquired Spence Diamonds, a 27 year-old Canadian diamond retailer known for an inventory-light business model in which most of the showroom goods are...
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NYC pensioners didn’t really lose money on private equity
Yesterday I expressed shock at a NY Times report that New York City’s $160 billion pension system had “reported the performance of many of their investments before taking fees to money managers into...
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Blackstone reminds us that it’s really a real estate firm
During a Blackstone Group BX media call in 2012, a reporter used the term “private equity firm” when asking a question. Firm president Tony James quickly interjected, to say that Blackstone really is...
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Cogent Partners co-founder launches private equity ‘restructuring’ shop
Colin McGrady co-founded Cogent Partners back in 2002, as an investment bank dedicated to a private equity “secondaries” market that was still very much in its infancy. But when Cogent was sold off to...
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