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Private-equity major KKR is closing in on a deal to acquire a significant stake in FGS Global that will value the financial communications company, which is backed by UK advertising group WPP, at about $1.4 billion, according to a report by The Financial Times.
Unnamed FT sources have revealed the the deal, which could be announced as soon as next week, is expected to see KKR acquire more than 30% of the business from senior employees at both FGS and WPP.
WPP, which currently owns about 57.4 per cent of the company, is expected to retain a majority in the business.
Nadim El Gabbani, a senior managing director and private equity dealmaker at Blackstone, has left the alternative asset management firm. El Gabbani, who was based in the firm’s London office, focused on financial services, business services and technology deals on both sides of the Atlantic.
According to his LinkedIn profile, El Gabbani’s notable deals at Blackstone include investments in BankUnited Inc, Michaels Stores, TeamHealth, Sithe Global Power and Service King.
Blackstone’s Q4 earning disclosures reveal that the firm’s private equity arm had $288.9 billion in assets under management as of 31 December, including $86.7 billion of ‘dry powder’.
Aurelius has acquired Deutsche Lufthansa AG’s integrated airline catering and onboard retail provider the LSG Group. The transaction, which is expected to close in the third quarter of this year, is subject to approval by the relevant competition and regulatory authorities.
The carve-out transaction includes all classic catering, onboard retail and food commerce activities, and the LSG Group’s brands with all 131 LSG Sky Chefs Customer Service Centres in the Americas, Emerging Markets and Asia-Pacific regions. Additionally, the acquisition includes the onboard retail expert Retail inMotion, based in Europe, and SCIS Air Security Services in the US. The LSG Group
LDC, a UK private equity firm focused on investments in mid-sized businesses, has made two senior promotions with the appointment of Jacob Leone and Grant Goodwin as investment directors, effective 1 April, 2023.
Leone joined LDC’s Manchester-based team as an investment manager in 2019 and has been involved in many of the firm’s most significant tech investments, including partnerships with Manchester-headquartered digital transformation business CTI Group, games developer Marmalade, Cheshire-headquartered manufacturer Rhino Products and Alderley Edge-based software company IEG4. Most recently, he led LDC’s investment in Merseyside-headquartered Horsefly, an artificial intelligence-based talent analytics platform, and is now helping the management
Audax Private Equity, a private investment firm focused on North American middle market companies, has acquired specialist distribution platform Krayden, Inc from private equity firm Quad-C Management.
Drawbridge, a provider of cybersecurity software and solutions to private equity, hedge fund, and venture capital firms, has appointed Chris Aronis as chief revenue officer. Aronis will lead the Drawbridge sales, account management and business development teams.
An exodus of investors and investment firms from Hong Kong is threatening the city’s status as a global financial hub. Singapore is ready to step into its place
Private equity fundraising more than doubled in India last year. As it becomes the world’s most populous country, global private equity sees growth in supply chain manufacturing and tech.
Private equity acquisitions surged in Japan last year, driven by long running structural trends. After a two-decade wait, a small group of US buyout firms are preparing for the next wave of domestic corporate carve-outs
International fundraising slumped in China last year as regulatory risk and geopolitical tensions scared away investors. Pan-Asian private equity funds are seeking out alternatives whether those investors return or not.
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