Suzanne Weinstock

The private equity mega-firms have agreed to purchase some $8bn in debt from Royal Bank of Scotland in addition to $5bn in debt related to the $18bn buyout of Clear Channel by Bain Capital and Thomas H Lee.

The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.

The boutique investment bank founded by UBS veteran Ken Moelis has added Fortress managing director Greg Share to its private equity team. The firm’s debut fund, which held a first close on $1.8bn last September, will complete fundraising in ‘the next few months’.

The private equity firm’s credit subsidiary, GSO Capital Partners, has closed its most recent mezzanine fund as demand for subordinated debt remains strong. The unit has also raised four CLOs and purchased $7.8bn in leveraged loans.

The publicly listed alternative asset manager will later this year raise private equity funds for US and European developed infrastructure, as well as cleantech and renewable energies as the market for Blackstone’s core private equity business remains challenged.

The longtime head of DLJ Merchant Banking told The New York Times yesterday that he left the firm in part as the result of an online smear campaign’s impact on both the firm and his family. The attack was launched by the ex-husband of Rattner’s former mistress.

Oil sands-related construction services company Voice Construction has been acquired by middle market investor Genstar Capital. The 173 billion barrels of oil tucked away in Alberta’s oils sands have become increasingly lucrative as oil prices skyrocket.

The California-based firm, which invests in seed and early stage healthcare companies, has brought its capital under management to a total of $1.6bn with the closure of its fourth fund after two months in the market.

The buyout firm, set to list on the New York Stock Exchange later this year, has added John Bryson, former Edison International chairman and chief executive, as senior advisor for its infrastructure initiative. KKR announced its infrastructure initiative in May and is reportedly raising a $5bn infrastructure fund.

Despite a string of corporate venture capital arms failing after a late 90s boom, corporations are moving full steam ahead – or in some cases re-entering – into venture investing. Corporate VC arms say they have developed a deeper understanding of portfolio management options.