PE funds join hands to put money in firms Aug 24, 2008
Kotak Realty fund recently checked into LemonTree Hotels, an upscale mid-market hospitality chain, which also has Warburg Pincus and Japaneses Shinsei for company. A lot of time companies in their agreements with financial investors have a covenant which stipulates that the company cannot sell shares to anybody at a price which is lower than the price at which shares were placed with their first set of investors. (India Times)
Warburg Pincus to enter race for Elan unit Aug 24, 2008
Private equity firm Warburg Pincus is set to enter the race to acquire the drug delivery unit of Ireland's Elan Corp , the Sunday Times newspaper reported ... Warburg Pincus was not immediately available to comment and Elan declined to comment. (International Herald Tribune -- Business)
3i, Kotak, NSR eye stake in Balaji Aug 23, 2008
Some of the sizeable deals include ICICI rgan that picked up 20% stake each in PVR pictures for $30 million and Warburg Pincus 15% stake in Laqshya Media for $64 million, among others. Rupert Murdoch-controlled STAR Group, through Dubai-based affiliate Asian Broadcasting FZ-Llc, bought a 21% stake in Balaji for Rs 123 crore in 2004. (India Times)
Bear's Schwartz Mulling Job Offers Aug 5, 2008
Among the banks in the running are Citigroup and Goldman Sachs, while private-equity suitors include Warburg Pincus and Kohlberg Kravis Roberts, sources said. A key issue for Schwartz, 57, is ensuring that any new gig he gets includes a place for Metrick, who is in his mid-60s. (New York Post -- Business)
Stocks to watch Jul 30, 2008
04 per cent. Among stocks, Moser Baer Entertainment is looking at raising funds for expansion in the movie space and is learnt to be in talks with private equity firms including ChrysCapital and Warburg Pincus. According to media reports, it is likely to raise close to $50 million in equity and debt. (India Times)
Citi,Warburg eye 15% in Ansal API Dadri project Jul 17, 2008
NEW DELHI: Citigroup and Warburg Pincus are in talks with Sushil Ansal-promoted Ansal API to pick up a 15% stake in its Rs 13,000-crore Dadri Megapolis project ... It is understood from company sources that Ansal API is close to finalise the deal with Citigroup and Warburg Pincus. (India Times)
Energy vet refuels with $500 million Jul 16, 2008
" FINDING A FIT Kayne Anderson, with offices in Houston and Los Angeles, launched its first energy fund with $100 million in 1998 and now has $9 billion in assets under management. The firm made its investment in Crestwood from its latest $950 million energy fund. Sinnott says his firm, which typically makes investments of between $25 million and $100 million per transaction, had been looking to make a private equity play in the midstream natural gas space, so the fit with Crestwood was timely.... (Houston Business Journal, TX)
WNS buys Aviva BPO in India for $230 mln - report Jul 13, 2008
WNS will fund the buyout through a $200 million line of credit from ICICI Bank (ICBK.BO: , , ), with buyout firm Warburg Pincus [WP.UL], which owns a majority stake in WNS, contributing around $30 million, the paper said. WNS, which draws about half its business from British and European operations, in April acquired a British auto insurance claims-processing services provider, Call 24/7 Ltd. (Reporting by Rina Chandran; Editing by Ranjit Gangadharan). (Reuters)
UPDATE 1-WNS to buy Aviva BPO in India for $228 mln-source Jul 13, 2008
Mumbai-based WNS, majority-owned by buyout firm Warburg Pincus [WP.UL], will make an announcement later on Thursday, the source said ... WNS will fund the buyout through a $200 million line of credit from ICICI Bank (ICBK.BO: , , , ), with Warburg Pincus contributing around $30 million, the paper said. (Reuters)
THE WEEK'S WINNERS AND LOSERS Jul 13, 2008
Warburg Pincus copresident sees 800M investment in MBIA head south. DORIT BERN. (New York Post -- Business)
Warburg Takes Bath On Mbia Stake Jul 8, 2008
WARBURG PINCUS LOSING MONEY ON MBIA STAKE - New York Post ... Warburg Pincus' 800 million investment in troubled monoline insurer MBIA is teaching private-equity firms and hedge funds alike a valuable lesson: Bottom fishing can be risky business ... The MBIA position accounts for the single-largest investment in Warburg's investment vehicle known as Warburg Pincus Private Equity X.. (New York Post -- Business)
Vringo Bets on Video Ringtones Jul 4, 2008
"Vringo is uniquely positioned to shape and ride the second wave of mobile personalization," says Warburg Pincus principal George Allen, who has also joined the company's board, in a statement. Teaming Up. (BusinessWeek)
Fed to Help Banks with Private Equity Leeway Jun 28, 2008
Officials at the Fed have met with buyout firms J.C. Flowers & Co., the Carlyle Group, Kohlberg Kravis Roberts & Co. and Warburg Pincus to discuss the hurdles they face for investing in banks, according to the Journal. A loosening of investment rules could bring lenders besieged with credit woes closer to the capital they need. (Fox News)
Private equity firms eye banks, as Fed considers rules Jun 28, 2008
The newspaper said J.C. Flowers, Carlyle Group, Kohlberg Kravis Roberts and Warburg Pincus were among those meeting with Fed officials on the matter. In an opinion piece Thursday in The Wall Street Journal, Randal Quarles and Olivier Sarkozy, managing directors at the Carlyle Group, made the case for leeway. (USA Today -- Money)
Fed Reviews Bank Investment Rules to Channel Capital to Lenders Jun 27, 2008
Central bankers have also spoken with J.C. Flowers & Co., Kohlberg Kravis Roberts & Co. and Warburg Pincus, the Wall Street Journal reported yesterday, citing unidentified people familiar with the matter. KKR spokeswoman declined to comment. (Bloomberg)
U.S. and Indian Firms 'Bullish' on India Jun 25, 2008
Speaking about the recent Goldman Sachs' report, titled "Ten Things for India to Achieve its 2050 Potential", former USIBC Chairman, Charles "Chip" Kaye, Co-President of Warburg Pincus and the largest U.S. private equity investor in India, focused on how U.S. firms could be helpful in raising the educational achievement in India and increasing the quality and quantity of universities. CII's leadership seeks to encourage programs in India to raise educational standards and to work towards policy... (PR Newswire)
Hong Kong Plans Commodities Exchange to Trade Oil, Tapping Chinese Demand Jun 25, 2008
Cheung is a former deputy chairman of , the tanker and fuel-storage operator partly owned by Warburg Pincus LLC.. Investments in funds tracking the Standard & Poor's and Dow Jones-AIG Commodity Index rose to $250 billion from $169 billion at the start of the year, Sanford C. Bernstein & Co. said April 30. (Bloomberg -- Europe)
Warburg Pincus to invest Rs2.76bn in Laqshya Media Jun 23, 2008
Warburg Pincus to invest Rs2 ... Laqshya Media, a privately held, leading Out-of-Home (OOH) media advertising company, has announced that Warburg Pincus, a premier global private equity firm, is making an investment of up to Rs2 ... Alok Jalan, MD, Laqshya Media, said, This investment by Warburg Pincus, a leading global private equity investor, comes at a time when the Out-of-Home advertising space is growing dramatically. (India Infoline.com)
Huawei ponders bids for handsets division Jun 21, 2008
The privately held group has sent details of the offer to private-equity firms including Bain Capital LLC, Blackstone Group LP, TPG Inc., Kohlberg Kravis Roberts Warburg Pincus LLC and Carlyle Group, as well as major international carriers. Bidders have until June 23 to submit offers, and according to a spokeswoman , Huawei has appointed Morgan Stanley to handle the potential sale that would help the company raise funds to invest in its main operations of making routers and other network gear... (EETimes)
Huawei May Sell Majority Stake in $4 Billion Mobile-Phone Unit, People Say Jun 19, 2008
The closely held Chinese company sent out invitations in the past month to private-equity firms including Bain Capital LLC, , TPG Inc., Kohlberg Kravis Roberts & Co., Warburg Pincus LLC and Carlyle Group, the people said, asking not to be identified because the matter is confidential ... TPG spokesman , Warburg Pincus spokeswoman and Blackstone spokesman , all based in New York, didn't respond to e-mails seeking comment after office hours. (Bloomberg -- Asia)
Local pharma's shares skyrocket Jun 7, 2008
So Inspire - backed by a from private equity firm Warburg Pincus - has continued to pump cash into research and development in an effort to develop its pipeline. In April, Inspire said it was of a nasal form of its allergy drug epinastine. (Raleigh Triangle Business Journal, NC)
BUSINESS BRIEFS Jun 5, 2008
Oil falls Crude oil fell more than 2 a barrel and gas oline dropped the most in two months as US fuel supplies rose more than expected and new signs emerged that higher prices would (New York Post -- Business)
Lesser of Two Evils Jun 3, 2008
On the private-equity front, and Warburg Pincus both considered investments in NatCity but walked away, paving the way for Corsair to strike its tough deal. Raskind wouldnt get into details about potential suitors, except to say their proposals didnt match up to Corsairs offer. (American Banker)
Linn Energy to Sell Verden Assets in Oklahoma to Laredo Petroleum for $185 Million; Retains the Option to Participate in Future Drilling Jun 3, 2008
Laredo Petroleum, Inc. is a privately held exploration and production company based in Tulsa, Oklahoma, with Warburg Pincus as its equity investor. This press release includes ``forward-looking statements'' within the meaning of the federal securities laws. (Primezone Releases)
The 50 Most Influential Minority Lawyers in America May 31, 2008
His clients have included The Carlyle Group, Warburg Pincus LLC and Soros Fund Management LLC. Mehta left Clifford Chance in 2002 to join Akin Gump's Washington corporate practice. Patricia Menendez-Cambo 42, Greenberg Traurig, Miami. (Law.com)
The Hellion Of Health Care May 31, 2008
An estimated $400 million a year is pouring in from the outside--from the likes of George Soros' Quantum Fund, Warburg Pincus, Avenue Capital Group and Old Lane; and Apax Partners and Bluewater International, in the U.K. There are big bucks to be made in a place where medical care is still a scarce resource. For every 10,000 patients, India has 6 doctors (compared with 19 in the U.S. and 32 in Europe) and 7 hospital beds (25 in the U.S., 64 in the eu). (Forbes -- Business)
* The brighter side of high prices May 22, 2008
Smart people wont shift their efforts to agricultural problems, however, if they think that price increases are only temporary, says Henry Kressel, a managing director at the private equity firm Warburg Pincus and a pioneer in laser research. When you have a sudden blip in prices, Kressel says, it doesnt give rise to entrepreneurial activity. (Taipei Times, Taiwan -- World)
PPD enters picture as possible bidder to acquire Quintiles May 18, 2008
Sources identify three New York-based private equity investors as potential bidders Citicorp Venture Capital, Warburg Pincus and Apax Partners. The Washington, D.C.-based Carlyle Group and New York-based J.P. Morgan Partners, two private equity investors that earlier showed interest, are believed to have dropped out. (Raleigh Triangle Business Journal, NC)
Icahn's Proxy Men May 17, 2008
A veteran portfolio manager, Posner left Warburg Pincus to start hedge fund Hygrove Partners in 2000. His departure from Warburg Pincus set off a flurry in the financial press about talented mutual fund managers leaving for the hedge fund world. (Forbes)
File: India magazine industry thriving, big players moving in May 15, 2008
More recently, private equity firm Blackstone Group put $150 million in regional publisher Ushodaya Enterprises, Warburg Pincus moved $33 million into the Dainik Group and DE Shaw invested $39 million in Amar Ujala Publications, according to research firm Venture Intelligence. News Corp, which has a content alliance for The Wall Journal with HT Media's business daily, is keen on more launches. (India Times)
Investment World Dream Team to Explore Global Investment Opportunity in Los Angeles on May 20, 2008 May 14, 2008
Participants in this candid and unscripted exchange include: -- Mohamed El-Erian: Co-Chief Executive Officer and Co-Chief Investment Officer of PIMCO -- David Fisher: Chairman of the Board of The Capital Group Companies, Inc., Capital Group International, Inc., and Capital Guardian Trust Company -- Joshua Friedman: Co-Chairman and Co-Chief Executive Officer of Canyon Partners LLC -- Kenneth C. Griffin: Founder, President and Chief Executive Officer of Citadel Investment Group, L.L.C. -- Joseph... (PR Newswire)
Credit market woes take toll on MBIA May 13, 2008
MBIA has already sought to raise capital, including from the private equity firm Warburg Pincus, and pulled in $2. 6 billion in the first quarter. (International Herald Tribune -- Business)
Tenaska Power Fund and Warburg Pincus Sell Generating Facilities May 12, 2008
May 12 /PRNewswire/ -- Tenaska Capital Management, LLC (Tenaska Capital), manager of the Tenaska Power Fund, L. P. (TPF), announced today that a subsidiary of TPF and an affiliate of Warburg Pincus LLC (Warburg Pincus) have entered into an agreement to sell APT Generation, a portfolio of three electric generating plants in Pennsylvania, West Virginia and Ohio ... Warburg Pincus is one of the largest global private equity firms, with more than $35 billion of assets under management ... TPF and... (PR Newswire)
International Power to buy U.S power assets May 12, 2008
The firm said it was buying the portfolio from a subsidiary of Tenaska Power Fund, L.P. and an affiliate of Warburg Pincus. (Reporting by Mark Potter; editing by Rory Channing). (International Herald Tribune)
International Power to buy US peaking plants for $856.4 million May 12, 2008
said it will buy U.S.-based portfolio of peaking generation plants with a total capacity 1,857 MW, from Tenaska Power Fund L.P.'s unit and an affiliate of Warburg Pincus LLC, for $856. 4 million. (Hemscott)
MBIA slides to huge 1Q loss on hefty charges May 12, 2008
That included investments by private equity firm Warburg Pincus in an effort to maintain MBIA's "AAA" ratings and demonstrate it would have enough cash to cover a spike in claims. Despite the capital raising efforts, Fitch Ratings cut MBIA's financial strength rating to "AA" from "AAA" in early April. (Rapid City Journal, SD)
Emerging private equity flows despite crunch May 2, 2008
It is following fellow private equity houses Carlyle Group and Warburg Pincus which have been in Asia for more than a decade but are also expanding ... "We have invested $12-billion outside the US, the bulk of that in India and China," said Dalip Pathak, a managing director at Warburg Pincus. (Business Report, South Africa)
Warburg Pincus Closes $15 Billion Global Private Equity Fund Apr 22, 2008
Firm Remains Focused on Global Strategy and Growth Investing NEW YORK, April 22 /PRNewswire/ -- Warburg Pincus, the global private equity firm, today announced the closing of Warburg Pincus Private Equity X, L.P. (WP X), a $15 billion fund. Building on Warburg Pincus' proven track record, the global fund will be invested in core industry sectors, consistent with the firm's growth-oriented strategy to focus on early-stage, growth and late-stage businesses across North America, Europe and Asia ...... (PR Newswire)
Warburg Pincus raises $16b despite credit squeeze Apr 22, 2008
Warburg Pincus expanded internationally before rivals such as Kohlberg Kravis Roberts & Co., making its first international investment in 1983 and opened an office in Hong Kong in 1984. Other investors in the fund include the UK's Universities Superannuation Scheme and the Teacher Retirement System of Texas, Warburg Pincus said ... Warburg Pincus has given investors in its 2001 fund a 22. (Sydney Morning Herald -- Business)
National City Near $6 Billion Cash Infusion Apr 21, 2008
Among private-equity firms, Kohlberg Kravis Roberts & Co. and Warburg Pincus LLC both pondered investments but also pulled out, leaving Corsair, according to the report. (END) Dow Jones Newswires. (SmartMoney)
Warburg Backs Away From Jarden Apr 20, 2008
Warburg Pincus doesn't want to play paperwork games with state casino regulators ... By waiving its rights as an insider Warburg Pincus employees will not have to go through the process. (Forbes -- Markets)
Debt load hobbles Journal Register Co. Apr 17, 2008
E.M. Warburg Pincus, Ingersoll's financier, stepped in when revenue fell, and Robert Jelenic, an Ingersoll executive, became CEO at the successor company, Journal Register Co., which went public in 1997. The company's cash earnings hit their peak the same year, with a 37 percent margin for earnings before interest, taxes, depreciation and amortization. (Albany Times Union)
* Wachovia rushes report, prompting loss speculation Apr 15, 2008
The investors may include New York-based buyout firm Warburg Pincus LLC, the Journal said. Warburg Pincus spokeswoman Sarah Gestetner didnt immediately return an e-mail. (Taipei Times, Taiwan -- World)
Wachovia to get capital infusion: WSJ Apr 14, 2008
One potential Wachovia investor is private-equity firm Warburg Pincus, the newspaper said. Warburg Pincus declined to comment. (ABC News -- Wire)
U.S. Biotechs On Sale Apr 12, 2008
Takeda, Japan's biggest drug company, is buying Cambridge, Mass. -based Millennium Pharmaceuticals for $8. (Forbes -- Business)
National City Falls After Report of Nova Scotia Bid (Update4) Apr 12, 2008
Warburg Pincus LLC has withdrawn from the bidding, according to the report. Corsair Capital is a private-equity firm that has invested in financial services companies since its founding in 1993 by JPMorgan Chase & Co., according to its Web site. (Bloomberg)
Bank of Nova Scotia eyeing National City: report Apr 11, 2008
Buyout firm Warburg Pincus LLC has withdrawn from the bidding process, another person familiar with the matter told the Journal. (Reporting by Ilaina Jonas; Editing by Braden Reddall). (ABC News -- Wire)
Motorola board picks ex-AT&T CEO as non-exec chairman Apr 10, 2008
Dorman is currently a managing director and senior adviser at Warburg Pincus and Co. and serves on the boards of CVS Corp., Yum Brands Inc. and the Georgia Tech Foundation. Motorola has floundered since the second half of 2006 because of flawed pricing and marketing strategies, and the inability to follow up its blockbuster Razr phone with another hit. (Crain's Chicago Business)
Motorola Taps AT&T Vet to Lead Divided Board Apr 10, 2008
Motorola Taps ATto Lead Divided Board (Motorola Inc. (MOT), AT&T Corp. (T), (US00206R), (US620076)) at SmartMoney. Sign up now for FREESmartMoney. (SmartMoney)
Dealbook: The new business of private equity: public equity Apr 8, 2008
Warburg Pincus, a private equity pioneer, learned that the hard way. It invested about $500 million in MBIA, the battered bond insurer, in December. (International Herald Tribune)
Novartis to buy Alcon in two-step $42bn deal Apr 8, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
MBIA Loses AAA Insurer Rating From Fitch Over Capital (Update5) Apr 6, 2008
6 billion in capital through a bond offering and the sale of a stake to Warburg Pincus LLC, eliminated its dividend and stopped guaranteeing asset-backed securities for six months. Those decisions prompted Moody's and S&P to keep their top ratings for MBIA. Fitch continued its review. (Bloomberg)
Sallie Mae makes another boardroom addition Apr 3, 2008
Newman was previously a senior adviser at Warburg Pincus and held investment banking jobs at Morgan Stanley & Co.. Newman's appointment comes one week after Sallie Mae named Michael Martin, president of LLC, and Frank Puleo, a former partner at Millbank, Tweed, Hadley and McCloy, to its board of directors. (Washington Business Journal, DC)
Dubai, Brigdepoint plan $1.4 bln Euromedic bid -report Mar 30, 2008
DIC, an investment agency owned by the ruler of Dubai, and Bridgepoint hired UBS AG to advise on an approach for the European firm, which is owned by private-equity house Warburg Pincus, the newspaper reported, without citing anyone. Top Money stories. (ABC News -- Wire)
Dubai and Brigdepoint reportedly plan Euromedic bid Mar 30, 2008
DIC, an investment agency owned by the ruler of Dubai, and Bridgepoint hired UBS AG to advise on an approach for the European firm, which is owned by private-equity house Warburg Pincus, the newspaper reported, without citing anyone. A sale of Euromedic, which makes diagnostic equipment, would be one of the biggest private-equity deals this year, at a time when the credit crunch has dented mergers and acquisitions volumes, The Times said. (International Herald Tribune)
D-St slide show leaves listed co investors poorer Mar 22, 2008
The list of marquee investors who couldnt anticipate the fall include the likes of Blackstone, Warburg Pincus, Walt Disney, Holcim, Tata Sons and Orient Global-all of whom lost over Rs 100 crore each ... Some other significant loss-making PE deals include Warburg Pincus-Havells (about Rs 136 crore, including the convertibles issue) and Orient Global Tamarind, which picked 4. (India Times)
How to play insurance in a risk-averse world Mar 22, 2008
But the private equity firm Warburg Pincus sees an opportunity here: In just the past few weeks it pledged about $800 million to acquire a minority stake in MBIA. Shares in each of the three bond insurers continue to trade near multiyear lows but have risen fairly steadily in the past month, albeit it to just a small fraction of the high points they reached last year. Investors unwilling to roll the dice to this degree could consider more diversified, multiline insurers, which also face... (International Herald Tribune -- Money Report)
Sony Pictures Television International Promotes Janet Tsai Dargan to Senior Vice President, Business Development Mar 19, 2008
Source: Sony Pictures Television International. March 18 /PRNewswire/ -- Sony Pictures Television International (SPTI) announced today that Janet Tsai Dargan has been promoted to senior vice president, business development. (Yahoo! Wire -- Entertainment News)
America's Great Divide Mar 17, 2008
a managing director and senior advisor at Warburg Pincus and a former CEO of Bank of America, called financial services for the underbanked "an ideal setting for private equity. ...We are looking across the sector broadly. I think there are real growth opportunities there.". 1. (American Banker)
Pfizer names Ringo VP of business development Mar 4, 2008
Ringo currently serves as an executive-in-residence at Warburg Pincus LLC and is on the board of InterMune Inc., which develops, makes and markets products to treat pulmonary, infectious disease and congenital disorders. Shares of Pfizer slipped 10 cents, or 0. (AZCentral -- Business)
Bond insurers step up survival battle Feb 26, 2008
MBIA raised money through selling common shares and warrants to private-equity firm Warburg Pincus LLC and issuing $US1 billion of surplus notes. No one is locked down on a specific option at this point,'' Dilweg said of Ambac in a telephone interview. (Sydney Morning Herald -- Business)
Ghana Discovers More Oil! Feb 25, 2008
With the financial backing of international private equity investors Warburg Pincus and Blackstone Capital Partners, the company possesses significant financial and operational capability to generate and participate in multiple high-impact upstream projects. For additional information, visit www. (Ghana Web, Ghana)
EMC Gets Personal Feb 23, 2008
Seattle-based was founded by 14-year Microsoft veteran Paul Maritz, with help from Warburg Pincus. The company offers software and services for personal information management, helping users organize, share, protect and access their data. (EnterpriseStorageForum)
At Year-End 2007, the Global IPTV Subscriber Base Reached 16m Clients According to New Report Feb 19, 2008
You no longer need to remember symbols. Simply type in a company name or stock symbol for instant results. (Yahoo! Wire -- Entertainment News)
Good Book, Bad Book Feb 17, 2008
MBIA has been raising capital, including a $1 billion injection from Warburg Pincus and via the sale of more than $2 billion in securities. But other insurers haven't been able to raise capital. (Forbes -- Business)
