Henry Kravis, the king of rough-and- tumble leveraged buyouts, picked up a phone at his home in Palm Beach, Florida, and called the chief executive officer of one of Spain’s biggest producers of building materials.
James Tomilson Hill, the Blackstone Group LP vice chairman who runs the company’s $58 billion hedge- fund business, has emerged as a billionaire as the world’s largest private-equity firm and his art collection have surged in value.
Grant Hill and Ares Capital Management Chairman Tony Ressler spent Monday afternoon at the Malibu, California, home of Shelly Sterling, who had something lots of rich folks wanted: the Los Angeles Clippers.
Robert Schaeberle, who led Nabisco Inc., one of America’s leading snack makers, into the 1981 merger with Standard Brands Inc. that set the stage for the defining battle of the leveraged-buyout era, has died. He was 88.
Energy Future Holdings Corp. owners KKR & Co., TPG Capital and Goldman Sachs Capital Partners, which took the company private seven years ago in a record leveraged buyout, will have their investments almost erased under a proposed bankruptcy reorganization plan.
Energy Future Holdings Corp., the Texas power company that plans to leave bankruptcy in less than a year, can’t reduce its $50 billion in debt without fighting junior creditors who face losing their investment.
The failure of Energy Future Holdings Corp., known as TXU Corp. when KKR & Co., TPG Capital and Goldman Sachs Capital Partners acquired it for $48 billion in 2007, and the stumbles of other huge deals of the past decade have reshaped how major buyout firms go about their trade.
The Wall Street bankers behind Comcast Corp.’s $45.2 billion bid for Time Warner Cable Inc., a surprise end-run around veteran media dealmaker John Malone, drew from experience on some of the past decades’ biggest deals, including the RJR-Nabisco buyout made famous in “Barbarians at the Gate.”
Reynolds American Inc., maker of Camel cigarettes, can be sued by the European Union on claims the tobacco company orchestrated a worldwide scheme to launder drug money, a federal appeals court ruled in reviving a suit filed more than a decade ago.