Kevin Ley

The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.

As LPs increasingly push back on deal terms, GPs may want to consider some relatively low cost moves to mitigate their concerns, writes Kevin Ley.

The New York State Common Retirement Fund committed $300m to a fund managed by Franklin Templeton Real Estate. It came as the state’s comptroller called for more flexibility in potentially increasing alternative investments.

US firms that live in fear of registering as an investment advisor may find that it's not as painful as they thought – provided they are well prepared for random audits

The New York-based private equity firm will purchase the outstanding shares of PharmaNet Development Group for $5 a share in a deal valued at close to $100 million.

Profits in the fourth quarter for the New York-based firm, which manages more than $1tn in assets, were hit especially hard by hedge fund and real estate losses.

The distressed buyout firm’s acquisition of nearly 70% of First Bank & Trust could lead to further banking asset purchases in the future.

The UK private equity firm sold its stake in trucking company Transports Alloin to a Swiss logistics group that is looking to expand in France.

Catalyst Investors and RIT Capital Partners have exited their 19 percent stake in the UK online security group following its sale to Symantec.

Federal Capital Partners’ $238m fund will help the firm expand its operations and increase its investments in the mid-Atlantic region of the US. The vehicle focuses on equity and debt investments in residential and commercial properties as well as land investments.