Catalyst Investment Managers could complete the sale of its packaging business Aperio Group to a trade buyer by February, according to a source.
The phenomenon is known as “loan to own.” Investors buy up companies’ debt on the secondary market and negotiate with the boards to secure what are in effect controlling positions.
TPG has acquired NZ$70 million ($54.1 million) worth of debt in New Zealand-based MediaWorks from lender Commonwealth Bank of Australia (CBA), accounting for approximately 20% of the company’s full debt load.
A lender of Ironbridge Capital-owned MediaWorks, the New Zealand-based owner of TV and radio channels, is selling its NZ$70 million ($54.1 million) of senior debt in the asset for NZ$0.50 on the dollar.
New Zealand-based Pencarrow Private Equity has held a first close of its fourth private equity fund on NZ$77 million ($59 million).
The New Zealand Venture Investment Fund (NZVIF) is making plans to invest up to NZ$8 million ($6 million) in New Zealand-based start-up firms.
Australia and New Zealand-focused Advent Private Capital has held the first close of its Advent 6 fund, and has confirmed commitments of nearly A$100 million ($102.3 million).
Blue Star, the New Zealand printing firm owned by CHAMP Private Equity, has hired Unitas Capital's Phillip Bower as its new managing director.
Australian PE firm Gresham has reportedly appointed Macquarie Group to advise on the sale of New Zealand appliance retailer Noel Leeming Group, an asset that it has owned for seven years.
Summerset Group, the New Zealand retirement village operator owned by Quadrant Private Equity, saw its stock open above the IPO price of NZ$1.40 on Tuesday, although it closed marginally below it. The price slumped a further 2.84% to NZ$1.37 on Wednesday.
Quadrant Private Equity-owned Summerset Group, New Zealand’s third-largest retirement village operator, has raised NZ$123.6 million ($99.5 million) in the largest IPO seen in the country in two years. The company sold 88.3 million shares at NZ$1.40...
It's a good time to be targeting turnarounds in Australasia. Private equity firms, hedge funds and investment banks are pursuing a host of opportunities in the consumer segment where companies have been hit hard by the seize-up in spending that followed...
Affinity Equity Partners has ramped up its consumer portfolio in Australia through a 70% stake acquisition in top deli meats producer Primo Smallgoods, for a price that values the company at A$740 million ($758 million).
Paul Costello, who stepped down as general manager of Future Fund late last year, has been appointed The Blackstone Group’s non-executive chairman for Australia and New Zealand. He will report to Tony James, the private equity firm’s president, and...
The Blackstone Group has agreed to buy Antares Restaurant Group, which operates the Burger King franchise in New Zealand, from Anchorage Capital Partners. Terms of the transaction were not disclosed.
Quadrant Private Equity plans to list Summerset, New Zealand’s third-largest retirement village company, in November but is likely only to exit 30% of its 97% stake in the company following recent market volatility.
Pacific Equity Partners (PEP) will approach potential buyers for Griffin’s Foods in the next week or two, setting up a deal that has been valued at up to A$750 million ($735.7 million) including debt.