An unnamed private equity insider filed a complaint with the US Securities and Exchange Commission claiming that private equity firms KKR, TPG and Goldman benefited from the leveraged buyout of Texas-based utility TXU by acting as unlicensed brokers and collecting massive transaction fees in the process.
United States
Square 1 Bank provides $4.5M loan to Chicago-based Sittercity
A USD 4.5 million credit facility was granted to Chicago-based online provider for in-home care Sittercity by Square 1 Bank, a bank that exclusively caters to the needs of entrepreneurs and the venture capital community.
Wal-Mart keeps Bank of America to run $18 bln 401(k) plan
Wal-Mart Stores Inc is sticking with Bank of America's Merrill Lynch unit to run its 401(k) program with $18 billion in assets, Wal-Mart confirmed on Tuesday.
DataSift obtains USD42 million in new funding led by Insight Venture Partners
The new Series C funding worth USD42 million received by DataSift, a social data platform for enterprises and brands, was said to be used for expansion in international markets and verticals, and strategic acquisitions.
Startup's biggest funding comes from family, friends - Fundable
Friends and family of startups were found to be its biggest supporters, shelling out USD23,000 in a business on average, totaling USD60 billion in fresh capital annually, based from data collected by online crowdfunding platform Fundable.
Latest News
Columbus Nova, a New York-based multi-strategy investment firm, announced today that it will acquire a controlling interest in the CIFC.
U.S. stock index futures fell on Tuesday, indicating the S&P 500 may fall for a third consecutive day on concerns a reduction in stimulus by the Federal Reserve may be on the horizon earlier than some had anticipated.
Spotify, a popular music-streaming service, confirmed its receipt of a USD250 million investment in a recent funding and also said it paid around USD500 million in royalties to artists this year.
According to sources interviewed by Bloomberg, private equity firm KKR & Co has hired Goldman Sachs Group Inc to assist them in the sale of UN Ro-Ro Isletmeleri, a Turkish shipping company.
Top credit ranking Johnson & Johnson reportedly sold USD3.5 billion in a six-part bond issue, its first offering in the last two years. Proceeds from the deal will be used to pay the health care product manufacturer's outstanding debt.
Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.
Latin America's largest investment bank, Grupo BTG Pactual, has applied with the commercial licensing bureau of Michigan to manage a commodities warehousing business in the US.
Illinois intends to sell USD350 million in general obligation bonds in a sale initially slated on December 12. Illinois legislators are set to vote on a pension reform bill that could save the state around USD160 billion in 30 years.
Cool Japan Fund is looking to invest in TV channels and retail properties in the US and Southeast Asia to promote the country's culture. Cool Japan is backed by the government as well as Japanese companies and is led by a former Carlyle Group executive.
