Carlyle Raises $1.1 Billion for LBO Firm’s First Financial Services Fund Carlyle Group, the world’s second- largest private equity firm, raised $1.1 billion for its first fund targeting investments in the financial-services industry.
LBO Capital Raising Plummets 81% in Quarter From ’08 Peak as Returns Slump Carlyle Group, the world’s second- largest buyout firm, needs more time to raise $3 billion. So does Chicago-based Madison Dearborn Partners LLC, even after cutting its target by 25 percent to $7.5 billion.
Goldman, Morgan Stanley Fault Lehman’s Plans for Asset-Management Business Goldman Sachs Group Inc., Morgan Stanley, Credit Suisse Group AG and other banks objected to Lehman Brothers Holdings Inc.’s plan to build its real estate unit into an asset-management business.
Cedar Fair Abandons Apollo Takeover as Park Operator’s Shareholders Resist Cedar Fair Entertainment Co., the operator of Kings Island and Knott’s Berry Farm amusement parks, and Apollo Global Management called off a $2.4 billion takeover after shareholders resisted the offer.
State Street Beats BlackRock to Manage $2.1 Billion in Massachusetts Funds State Street Corp. won two mandates to invest a total of $2.1 billion for Massachusetts’ public pension fund, beating BlackRock Inc. in each case.
Wilbur Ross Buys $152 Million Virgin Money Stake, Backs RBS Branches Bid Billionaire investor Wilbur Ross agreed to buy a stake in Sir Richard Branson’s Virgin Money financial-services unit for 100 million pounds ($152 million), backing the division’s acquisition strategy.
Ontario Teachers’ Pension Fund Posts 13% Gain on Surge in Stocks, Bonds Ontario Teachers’ Pension Plan, Canada’s third-biggest retirement-fund manager, posted a 13 percent return on investments in 2009 because of gains in fixed income and a surge in Canadian stocks.
Allen Stanford Allowed by Judge to Switch Defense Attorneys One Last Time R. Allen Stanford, the Texas financier accused of leading a $7 billion fraud scheme, may switch criminal defense lawyers, a federal judge said.
Hedge-Fund Assets to Hit $2 Trillion by Year-End, Credit Suisse Group Says Global hedge fund assets may return to the pre-financial crisis peak of almost $2 trillion by year- end, boosted by investment profits and capital inflows, according to a Credit Suisse Group AG survey of investors.
TARP Bank Bailouts Earn U.S. $10.5 Billion for 8.5% Return, Analysis Shows The U.S. Treasury Department has made $10.5 billion, or an 8.5 percent return, on its bailout of financial firms, a private analysis shows.
Rise in Treasury Yields Slowed as Currency Reserves Grow Fastest Since ’08 The fastest growth in global currency reserves since the credit crisis is blunting a rise in Treasury yields even as concern increases about record U.S. borrowing to finance an unprecedented budget deficit.