Private Equity firms not losing hope Apr 20, 2009
The losers include the very best of PE fraternity, with names like Citigroup, Temasek, 3i, UTI Venture Funds, CLSA, Warburg Pincus and JP Morgan figuring in the list. Losses suffered by retail investors, who invested in companies with high institutional holdings, could be many times the losses posted by PE firms. (India Times)
Bridgepoint Education Prices Initial Public Offering and Lists on New York Stock Exchange Apr 15, 2009
Warburg Pincus Private Equity VIII, L.P. has granted the underwriters a 30-day option to purchase up to 2,025,000 shares of common stock at the initial public offering price to cover over-allotments, if any. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. acted as joint book-running managers of the offering. (PR Newswire)
Investors cheered by eBay's plan... Apr 15, 2009
The pair have been plotting with a quartet of private equity groups including Warburg Pincus to seize back the business they founded. Related Links. (New York Post -- Business)
IPO Market Goes Back To School To Learn The Art Of Recovery Apr 15, 2009
In 2004, private equity group Warburg Pincus joined several veterans of the for-profit education field to form a venture. Like other commercial schools, they wanted to offer degrees that working adults could afford and fit into their schedules. (Investors Business Daily)
Metavante to be acquired by Fidelity National Apr 2, 2009
Warburg Pincus is expected to own 11 percent of the combined company. The transaction is subject to approval by shareholders of both Fidelity and Metavante. (Jacksonville Business Journal, FL)
Martire to lead new Fidelity Apr 2, 2009
Metavante's largest shareholder, an affiliate of Warburg Pincus that owns 25 percent of Metavante's outstanding shares, has agreed to support the transaction. Warburg Pincus is expected to own 11 percent of the combined company. (Milwaukee Business Journal, WI)
Manitowoc to sell Enodis unit for $160M Mar 29, 2009
Under the transaction, Manitowoc will sell former Enodis subsidiaries Scotsman Group LLC, CastelMAC SpA, and Frimont SpA, together with certain property of another Manitowoc subsidiary that is used in the ice business, to Braveheart Acquisition Inc., a corporation formed by Warburg Pincus Private Equity X LP.. In early March, the Manitowoc-based manufacturer of construction cranes and commercial food service equipment reduced the value of the business, taking a $175 million impairment charge,... (Milwaukee Business Journal, WI)
A free kick for the anti-Chinalco league Mar 20, 2009
These including French food giant Danone, which still retains 23 per cent, and a US private equity firm, Warburg Pincus, with 6. 8 per cent.. (Sydney Morning Herald -- Business)
China blocks Coke's bid for juice company Mar 18, 2009
the French dairy and beverage company Groupe Danone holds 23 percent and Warburg Pincus, a American private equity firm has a 6. 8 percent stake. (International Herald Tribune -- Business)
NEIMAN MARC-DOWN Mar 12, 2009
The results were a black eye for private-equity giants TPG and Warburg Pincus, which together shelled out more than 5 billion to take it private in 2005. The quarterly loss included a 560 million writedown on assets, including stores and brands. (New York Post -- Business)
Candover considers scheme to wind... Mar 6, 2009
Warburg Pincus (WP), the private equity group, is to take a stake in Premier Foods, the Hovis and Mr Kipling group, as part of a 404 million fundraising. Premier, which has 1. (New York Post -- Business)
'N-deal, pathbreaker in India-US ties' Mar 5, 2009
Chip Kaye, co-president Warburg Pincus, sought India's help in building an international consensus on dealing with the economic crisis in a concerted manner, noting "a form of growing financial nationalism is growing not just in emerging market economies, but also developed market economies". Read business stories in. (India Times)
Premier to raise 404m and sell s... Mar 5, 2009
Premier Foods, the Hovis, Mr Kipling and Branston pickle maker, this morning confirmed that Warburg Pincus, the private equity group, is becoming a significant shareholder ... Warburg Pincus will end up with a minimum of 10 per cent of the company as part of its investment but, due to a clawback scheme, could end up with as much as 20 per cent depending on demand for shares from Premier s existing investors ... Mr Schofield said that the involvement of Warburg Pincus which is entitled to a seat... (New York Post -- Business)
Premier Foods to Raise $537 Million Through Share Sale, Private Investment Mar 5, 2009
March 5 (Bloomberg) -- , the U.K. maker of Hovis bread, said it plans to raise 379 million pounds ($537 million) in a share sale alongside an investment from private- equity firm Warburg Pincus LLC. ... Warburg Pincus has also committed to a firm placing of 64 million pounds, or a 10. (Bloomberg -- UK)
Ghana Oil & Gas Update Feb 27, 2009
After hitting oil in Ghana, its backers, Warburg Pincus and Blackstone Capital Partners, an affiliate of the Blackstone Group, injected a further $500 million into the company. Warburg manages more than $35 billion of assets around the world, while The Blackstone Group is responsible for assets of about $119 billion. (Ghana Web, Ghana)
Jailed Billionaires Become New Face of China as Markets Worldwide Unravel Feb 25, 2009
To bring international experience to the board, Huang recruited Chang Sun, who runs the China business of New York- based Warburg Pincus, which owns about 1 percent of Gome stock; American Tom Manning, a former Bain & Co. managing director; and Greaves of Hanson Capital. As they prospered, Huang and Du embraced some of the trappings of wealth. (Bloomberg)
NewStar Financial Announces Change to Its Board of Directors Feb 10, 2009
Mr. Bralver is the Senior Associate Dean for International Business and Finance at the Fletcher School at Tufts University, was a founding partner and Vice Chairman of Oliver, Wyman & Co., and has served as a Strategic Advisor at Warburg Pincus, LLC. Mr. Bralver will also serve on the board's Risk Committee. I would like to welcome Chuck and I am pleased to have him as a member of our Board of Directors. (Primezone Releases)
Cosmos Energy Seeks Buyers For Ghana Oil Assets Feb 10, 2009
Kosmos, which is backed by private-equity firms Warburg Pincus and Blackstone Group (BX), operates the West Cape Three Points block with a 30. 875% stake and has an 18% stake in the adjacent Deepwater Tano block. (Ghana Web, Ghana)
Road warrriors get new home in Tempe - aloft Feb 8, 2009
The new aloft was developed by Triyar Hospitality and Warburg Pincus Real Estate and is managed by Starwood. Triyar also developed the new W Scottsdale. (AZCentral -- Business)
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)
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)
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)
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)
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)
Spheris makes board changes Feb 16, 2008
Joining the board is Tenno Tsai, a principal of private equity investor Warburg Pincus & Co. ... Tsai replaces Warburg Pincus managing director David Wenstrup on the company's board. (Nashville Business Journal, TN)
Early exits prove costly in telecom Feb 16, 2008
Early quitters like telecom firms AT&T and BPL and investment firm Warburg Pincus appear to have lost heavily, while Hutchison struck gold last year by selling 67 per cent stake in its India business to Vodafone for $11 ... For example, Warburg Pincus bought 18 ... But Warburg Pincus walked away with $1. (Times of India)
Bond Insurers' Breakup, Yahoo-MySpace, Level 3's Fall: Timshel Feb 15, 2008
1 billion in a stock sale, completed this week, without the help of a so-called backstop arrangement with Warburg Pincus LLC. The buyout firm had agreed to buy as much as $750 million of preferred shares if necessary. Ambac, based in New York, is also working to raise money after rejecting a bid by Warren Buffett's Berkshire Hathaway Inc. to assume its municipal-bond guarantees. (Bloomberg -- Columnists)
India still reluctant on real estate trusts Feb 13, 2008
The likes of Citigroup, Warburg Pincus and Morgan Stanley have preferred to build and sell housing but could now be tempted into commercial property. Office yields are about 9 to 10 percent in India. (International Herald Tribune -- Business)
PE funds fail to get their exit timing right Feb 13, 2008
Some number crunching by ET shows that although global PE majors like Warburg Pincus, Baring, ChrysCap and Citigroup Venture Capital have made big profits from their Indian investments, they would have pocketed a few billions more had they held on to their shares for a little bit more ... Take Warburg Pincus investments in Bharti Airtel ... As of February 11, 2008, the value of shares that Warburg Pincus held before it started selling them in 2004 works out to Rs 29,094 crore, or around $7. (India Times)
Dow Drops 561 in a Week Feb 9, 2008
Warburg Pincus will acquire $300 million of the new stock, MBIA said. The firm currently has a "AAA" rating from Moody's, Fitch Ratings and CreditWatch, however heightened foreclosure activity has threatened those ratings. (SmartMoney)
MBIA to Raise $750 Million for Insurance Unit Feb 7, 2008
But Warburg Pincus, a private equity firm that invested $500 million in MBIA last month, has agreed to make up for any shortfall in MBIA's target of raising $750 million of capital in public markets. Selling the securities in the public market may not be easy, but it may be possible, said James Ellman, president of Seacliff Capital in San Francisco, which does not have a position in MBIA.. (Reuters)
MBIA plans to raise $750m in equity Feb 7, 2008
The plans, underwritten by JPMorgan and Lehman Brothers and with a backstop from private equity group Warburg Pincus, were announced as MBIA said it had increased its after-tax operating loss for the quarter ending in December by $65m to $472. 8m. (FT.com -- Markets)
MBIA plans sale to save its AAA credit rating Feb 7, 2008
But Warburg Pincus, a private equity firm that invested $500 million in MBIA last month, has agreed to make up for any shortfall in MBIA's target of raising $750 million of capital in public markets ... It issued $1 billion of surplus notes and received $500 million from Warburg Pincus last month ... Warburg Pincus has agreed to buy at least enough MBIA convertible participating preferred stock to make up for any shortfall in MBIA's efforts to sell $750 million common stock. (International Herald Tribune -- Business)
Fund chief warns that two pillars of the markets might crumble. Feb 1, 2008
MBIA, which was scheduled to report fourth-quarter earnings Thursday night, said Wednesday that it had secured $500 million in capital from Warburg Pincus, the private equity firm, as part of a previously announced $1 billion investment. The company also added two representatives from Warburg Pincus to its board and said an executive from Deutsche Bank would be leaving the board. (International Herald Tribune -- Money Report)
MBIA loses $2.3bn on write-downs Feb 1, 2008
It said Warburg Pincus had bought $500 million of new shares at $31 each and the private equity firm had agreed to backstop a future share sale. MBIA believed this "will result in our capital position surpassing rating agency AAA requirements". (Business Report, South Africa)
Bond Insurer Returns Fire, Defends Rating Feb 1, 2008
The chief executive said new investments in the bond-insurance industry by smart investors such as Warburg Pincus and Warren Buffett, who is launching a new bond-insurance business, "speak volumes about the viability of our business model and our market.". Dunton said that, contrary to appearances, the market will improve for the credit protection MBIA and other bond insurers provide. (SmartMoney)
Bond Insurers Need Help--Fast Feb 1, 2008
MBIA, to keep its coveted triple-A rating, has a plan to raise $2 billion in capital, $1 million of it in the form of an investment by Warburg Pincus ... Another option: an injection of capital from an outside investor, and rumors have floated for several days that private equity firms would step in, as Warburg Pincus has already stepped in for MBIA.. (Forbes -- Business)
MBIA loses $2.3-billion on derivatives writedown Jan 31, 2008
The company raise $1-billion through the offering of surplus notes and another $500-million through a direct investment by private equity firm Warburg Pincus, which closed Wednesday. Warburg Pincus has also pledged to backstop an additional $500-million rights offering. (Globe and Mail -- Business)
Warning on bond insurers frays nerves on Wall Street Jan 31, 2008
MBIA, which was scheduled to report fourth-quarter earnings after the market closed, said late Wednesday that it had secured $500 million in capital from Warburg Pincus, the private equity firm, as part of a previously announced $1 billion investment. The company also added two representatives from Warburg Pincus to its board and said an executive from Deutsche Bank would be leaving the board. (International Herald Tribune)
Japan stocks lifted by investment deal Jan 31, 2008
But investor sentiment recovered midmorning on news reports that bond insurer MBIA Inc. and private equity firm Warburg Pincus had closed a previously announced investment deal. U.S. bond insurers have been under scrutiny amid concerns that securities backed by shaky mortgages would lead to a spike in insurance claims. (Anchorage Daily News)
Derivatives Write-Downs Hit MBIA Jan 31, 2008
At the same time, the company said it closed on its $500 million stock sale to private equity investor Warburg Pincus, part of a deal announced earlier this month that will have Warburg invest up to $1 billion in the troubled bond insurer. As part of the. (Wall Street Journal)
Stocks end dire month on brighter note Jan 31, 2008
But stocks recovered ground after MBIA said private-equity firm Warburg Pincus had made a $500 million investment in it. TOKYO, SEOUL GAIN. (ABC News -- Wire)
UTI AMC to sell 10-12% for $200 mn Jan 30, 2008
Half-a-dozen interested parties including Goldman Sachs, Lehman Brothers, Warburg Pincus, Singapores GIC and Japanese Shinsei Bank are vying for the stake. Sources close to the development said the deal is expected to be finalised very soon. (India Times)
Buy-out groups eye monoline moves Jan 25, 2008
Private equity firms that are considering setting up their own credit insurers have been studying the experience of competitor Warburg Pincus, which invested $1bn in troubled MBIA late last year. Many analysts claim that Warburg Pincus made a classic mistake, investing in an ailing company too early, although people familiar with Warburg Pincus would argue that the private equity firm has secured significant downside protection ... It takes decades for the value to build and for revenue to... (FT.com -- Markets)
Nooyi chief of US-India forum Jan 24, 2008
Kaye is co-president of Warburg Pincus, the New York-headquartered private equity firm that has been a consistent and successful investor in India since economic liberalization. Loading. (India Times, India -- Intl Business)
Bausch & Lomb Names New CEO Jan 24, 2008
The company said Zarrella is leaving because he had told B&Ls new parent company, Warburg Pincus, that he planned to retire within the next three years, and Warburg Pincus wanted someone who would be able to stay on for a longer period of time. Zarrella will be replaced by Gerald Ostrov, who retired recently from Johnson & Johnson. (WOKR13 Rochester)
Eye care products maker Bausch & Lomb appoints new CEO Jan 24, 2008
Bausch & Lomb, which makes contact lenses, ophthalmic drugs and vision-correction surgical instruments, was acquired by private equity firm Warburg Pincus for $3 ... Bausch & Lomb's board agreed to a $65-a-share buyout last May by Warburg Pincus, a buyout and venture capital firm in New York. (San Diego Union-Tribune -- Business)
Ambac, MBIA's Lust for CDO Returns Undermined AAA Franchise in Tax-Exempts Jan 23, 2008
Seeking to avert a crippling reduction of its triple-A rating, MBIA, the largest of the companies, said in December that it would raise as much as $1 billion by selling a stake to private equity firm Warburg Pincus LLC. It said Jan. 9 that it will slash its dividend to 13 cents a share from 34 cents, and two days later it paid a yield of 14 percent to sell $1 billion of surplus notes, bonds issued by insurance companies that state regulators consider equity. Shares of the Armonk, New York-based... (Bloomberg)
Make it easier for PE funds to invest Jan 21, 2008
Overall, private equity has played a positive role in Indias economic growth, the poster child being Warburg Pincus investment in Bhartis telecom arm. Its not clear what the policy implications of classifying private equity as portfolio investment would be. (India Times)
Amtek Auto to supply engine parts for Tata Nano Jan 19, 2008
Leading private equity player Warburg Pincus has also recently acquired a 9% stake each in Amtek Auto and Amtek India. Also Read. (India Times)
How Do You Spell 'Crisis'? MBIA Jan 18, 2008
Private equity firm Warburg Pincus has a big stake in the outcome of MBIA's capital raising efforts as well, since it agreed to invest $1 billion in MBIA in December, $500 million of that in the purchase of MBIA common stock at $31 a share. The Dec. 10 closing price of MBIA was $33. (Forbes)
China's budget hotel industry is booming as tourism grows Jan 17, 2008
Big and small Chinese investors, plus foreign heavyweights like Morgan Stanley, Warburg Pincus and Merrill Lynch, are piling into the industry, even though fierce competition and sinking room rates now threaten to hurt profits. Political and social change, as well as China's economic boom, have helped the industry. (International Herald Tribune -- Business)
BofA Bottom Feeding? Jan 15, 2008
MBIA (nyse: - - ), the largest bond insurer, is cutting its dividend by 60%, selling $1 billion in securities and sought $1 billion in capital from Warburg Pincus in an effort to retain its AAA financial-strength credit ratings. Citigroup (nyse: - - ) is also raising capital from outsiders, getting $7. (Forbes)
Who's the winner: Countrywide or Bank of America? Jan 12, 2008
The venerable private equity firm Warburg Pincus invested $1 billion in MBIA, the largest U.S. bond insurer, only to see the company's stock fall 58. 4 percent. (International Herald Tribune)
MBIA cuts dividend and says it will raise $1 billion Jan 10, 2008
Last month, MBIA said the private equity firm Warburg Pincus had agreed to invest $500 million in MBIA common stock and receive warrants to buy additional shares. Fitch and its larger rival, Standard & Poor's, on Wednesday rated the new MBIA debt "AA," their third-highest grade. (International Herald Tribune)
GEORGIA BLUE CHIPS Jan 10, 2008
In conjunction with a $1 billion investment from Warburg Pincus, MBIA said it believes these moves will mollify the major ratings agencies, allowing it to maintain its "AAA" financial strength ratings. Top-caliber ratings from the ratings agencies, which judge how likely MBIA is to cover its insurance claims, are critical for a bond insurer. (Atlanta Journal-Constitution -- Business)
Thain Makes Like Komansky in Pledge to End Mother Merrill's Subprime Orgy Jan 4, 2008
Its stock dropped 75 percent percent in 2007, even after a $1 billion infusion of cash from private equity firm Warburg Pincus LLC.. Semerci left Merrill on Oct. 3, 2007. (Bloomberg)
Cree Appoints Frank Plastina to Board of Directors Jan 4, 2008
Previously, Plastina served as an Executive in Residence at Warburg Pincus LLC, a private equity firm. From 2003 until 2005, he held various executive positions with Proxim Corporation, a provider of wireless infrastructure equipment for wireless fidelity and wireless broadband markets, including Executive Chairman from January 2005 until July 2005, and President and Chief Executive Officer and Director from May 2003 until December 2004. (FOX News)
