Christopher Witkowsky
Lehman Brothers Private Equity, which is not part of Lehman Brothers bankruptcy, said the turbulent markets contributed to the decrease. Meanwhile, the rebounding US dollar helped Princess Private Equity's NAV increase in September.
The energy-related company will change private equity sponsors for the third time. New York-based Harvest Partners bought Aquilex from First Reserve last March and grew the company into a $550m industrial service provider.
The contract award is part of the US government’s experimental program to privatise five US airports. Details of the investor group’s development plans for Chicago Midway Airport were not disclosed.
The investment by India's largest infrastructure-focused private equity firm will help create a parts-manufacturer for the wind energy industry in India. The IDFC manages three private equity funds.
Lehman's private equity real estate arm is not part of the $2.1bn deal by Bain Capital and Hellman & Friedman to acquire the investment bank's prized asset management business, Neuberger Berman. Lehman's private equity funds of funds and secondaries units will be sold.
Singapore’s largest sovereign fund has increased its investments in private equity and real estate in recent years – a trend likely to continue owing to the turmoil in the financial markets. The change was revealed as part of its first performance report, which also shed rare light into the GIC’s structure.
The selection of John Koskinen to lead the seized mortgage giant brings to three the number of private equity pros asked this month to head up troubled financial services companies.
The investment firm, which counts the National Commercial Bank of Saudi Arabia as one of its stakeholders, plan to invest $2bn in the region.
The private equity firms are reportedly in discussions to buy Lehman’s investment management unit, which includes its $30bn private equity portfolio. The price of the investment management arm, around $5bn last week, may come down after Lehman’s bankruptcy filing yesterday.
The New York-based firm has hired Gene Wolfson, former head of Citi's distressed equity trading group.