Private equity giant KKR has withdrawn from a multibillion-pound recapitalisation deal for Thames Water, casting fresh doubt over the future of the UK’s largest water utility and putting renewed focus on distressed infrastructure investment opportunities, according top a report by Reuters.
Abu Dhabi’s National Central Cooling Company PJSC, also known as Tabreed, backed by Engie, and global private equity firm CVC Capital Partners have entered exclusive negotiations to acquire PAL Cooling Holding (PCH), the district cooling subsidiary of Multiply Group, in a transaction expected to exceed $1bn, according to a report
TPG Angelo Gordon has emerged as one of the latest entrants in the court-supervised auction of Citgo Petroleum’s parent company, PVD Holding, as creditor claims against the Venezuelan government fuel interest in the high-profile asset sale, according to a report by Bloomberg citing sources familiar with the matter.
Italian private equity firm Nextalia has welcomed two new shareholders as the Moratti and Gavio families invest via their respective family offices, reinforcing the firm’s position as an independent platform for private markets in Italy, according to a report by Reuters.
A shareholder in Skechers USA has filed suit in the US District Court for the Central District of California, seeking to block the footwear giant’s $9.4bn take-private transaction with 3G Capital until further disclosures are made, according to a report by Reuters.
German chemical giant BASF SE has officially kicked off the sale process for its coatings business, with the unit expected to fetch up to €6bn ($6.8bn), drawing attention from a growing roster of global buyout firms including Carlyle Group, according to a report by Bloomberg.
HSBC Asset Management is making a major commitment to private credit, with Europe’s largest bank set to invest $4bn of its own capital into its alternative credit funds, as part of an ambitious strategy to build a $50bn credit platform within five years, according to a report by Reuters.
Chinese energy giant Sinopec has unveiled a RMB5bn ($690m) hydrogen-focused venture capital fund, marking the largest such vehicle dedicated to the sector in China to date, according to a report by Reuters.
PAG, an Asia-Pacific focused alternative investment firm, has appointed Nikhil Srivastava, Partner and Head of India Private Equity, to the role of Co-Head of PAG’s Private Equity business, effective immediately.
Mid-market private equity firm ECI Partners has appointed Simona Everts as an Associate, to further strengthen the company’s ability to support its portfolio to expand internationally, with a focus on European growth.
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