What's happening in the private equity world? The plunderers remain busy:
Private equity firms Advent International, Bain Capital and TPG are reportedly looking to team up to place a bid for Subway, which is expected to sell for up to US$10bn.
Carlyle Group Inc (CG.O) is considering bringing in fresh backers for its investment in McDonald's Corp's (MCD.N) China operations.
The Carlyle Group, a US investment firm, wants a minority stake in Manchester United.
Private equity major Carlyle Group closed its latest Asia focused buyout fund at $950 million.
IMG Academy in Bradenton, Florida,
has been sold by Endeavor Group Holdings to private equity group BPEA
EQT for a total of $1.25 billion.
First Republic Bank lost a wealth management team to Cresset Asset Management. Cresset's founders came from private equity.
Financial worries are spreading from banking to insurance companies. Boaz Weinstein believes the credit crisis is just starting in earnest. He believes life insurance companies could be at risk for financial upheaval.
McKinsey noted last year "All five of the largest private equity (PE) firms by assets have holdings in life insurance, representing 15 to 50 percent of their total assets under management."
Former Biden Chief of Staff Ron Klain returned to his former law firms and will assist O'Melveny's private equity clients. Satisfaction guaranteed!
Biden Domestic Policy Advisor Susan Rice announced she would step down in the next month. She will spend her summer pondering her next act. Might private equity be her future?
A leading private equity firm claimed to be a climate leader (under the leadership of the current Governor of Virginia) while increasing emissions.
