• Sep 20, 2006

    Park Hill Adds New Hedge Fund Unit

    New York/London; September 20, 2006: Park Hill Group, the global alternative asset placement agency, has announced the establishment of a new hedge fund unit to complement its existing private equity business. This new hedge fund unit will be headed by Alexander Moomjy and Patrick Daly in New York and Peter Mayer in London, all formerly of Credit Suisse’s Private Fund Group. They are joined by senior distribution executive, Annie Belanger, formerly of Conquest Capital, in New York. Also joining are Paul Hudson, Bradley Barr and Michael Prasad.
  • Sep 18, 2006

    Travelport Second Quarter 2006 Results

    NEW YORK, September 18, 2006 — The India Fund, Inc. (NYSE: IFN; the “Fund”) announced the expiration of the Fund’s semi-annual repurchase offer for its shares of common stock. The repurchase offer and withdrawal rights expired on Friday, September 15, 2006. The Fund offered to repurchase up to 5% of its outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 22, 2006. As of Friday, September 15, 2006, 44,902,187.0328 Fund shares were outstanding.
  • Sep 15, 2006

    Freescale Semiconductor Reaches Agreement with Private Equity Consortium in $17.6 Billion Transaction

    AUSTIN, Texas--(BUSINESS WIRE)--Sept. 15, 2006--Freescale Semiconductor, Inc. (NYSE: FSL) (NYSE: FSL.B), a global leader in the design and manufacture of embedded semiconductors for wireless, networking, automotive, consumer and industrial markets, announced today that it has entered into a definitive merger agreement to be acquired by a private equity consortium in a transaction with a total equity value of $17.6 billion. The consortium is led by The Blackstone Group, and includes The Carlyle Group, Permira Funds and Texas Pacific Group.
  • Sep 11, 2006

    Travelport Appoints Steve Barnhart President of its Orbitz Worldwide Online Travel Business as Mitch Truwit Departs to Join Apax Partners

    NEW YORK, September 11, 2006 — TDS Investor (Bermuda) Ltd., the parent company of the Travelport group of companies, a global leader in travel distribution services, today announced that Steve Barnhart, chief financial officer of its Orbitz Worldwide unit, has been appointed as president of Orbitz Worldwide, which includes Travelport’s online businesses such as Orbitz and Cheaptickets in the Americas, ebookers and Octopus Travel in Europe and HotelClub.com and RatesToGo.com in the Asia Pacific region. Barnhart will report to Travelport President and CEO, Jeff Clarke, and will continue to serve as CFO of Orbitz Worldwide.
  • Aug 23, 2006

    Blackstone Group Completes Acquisition of Cendant’s Travelport Subsidiary

    PARSIPPANY, N.J. and NEW YORK, August 23, 2006 — The completion of the sale of Cendant Corporation’s (NYSE: CD) Travelport business today to an affiliate of The Blackstone Group for $4.3 billion in cash, subject to closing adjustments, represents the leading private equity firm’s largest equity investment in the technology sector to date. Blackstone has agreed to sell 14% of the new entity to Technology Crossover Ventures (TCV) on completion. First announced on June 30, 2006, the sale of Travelport to Blackstone has taken less than 60 days to close, making it one of the fastest closing M&A transactions of its size and scope ever.
  • Aug 23, 2006

    VNU Names David L. Calhoun Chairman Of The Executive Board And Chief Executive Officer

    Haarlem, the Netherlands – VNU Group B.V., a leading global information and media company, today announced that David L. Calhoun, Vice Chairman of General Electric Company, has been named Chairman of the Executive Board and Chief Executive Officer of VNU by the company’s Supervisory Board. He succeeds Rob Ruijter, who has served as interim CEO since June 13 and who will continue as VNU’s Chief Financial Officer.
  • Aug 23, 2006

    Cendant Completes Sale of Travelport to The Blackstone Group

    Realogy Corporation and Wyndham Worldwide to Receive Proceeds of $1.4 Billion and $760 Million, Respectively New York August 23, 2006 – Cendant Corporation (NYSE:CD) today announced it has completed the previously announced sale of its Travelport business to affiliates of the Blackstone Group for $4.3 billion in cash subject to closing adjustments.
  • Aug 15, 2006

    Hosiery Industry Leaders Gold Toe and Moretz To Combine

    NEW YORK, N.Y. and NEWTON and BURLINGTON, N.C – August 15, 2006 – Two of the hosiery industry’s leading companies, Gold Toe Investment Corp. and Moretz Inc., will combine in a transaction announced today, creating one of the largest global sock companies. The deal is backed by an investment from The Blackstone Group, a global private investment and advisory firm, which is acquiring Gold Toe and simultaneously facilitating a merger between the two companies.
  • Aug 01, 2006

    Strategic Hotels & Resorts Announces Agreement to Acquire Marriott London Grosvenor Square

    Chicago, IL – August 1, 2006 – Strategic Hotels & Resorts, Inc. (NYSE: BEE) today announced that the company has signed an agreement to acquire the Marriott London Grosvenor Square from an affiliate of Blackstone Real Estate Partners for a purchase price of £103.0 million ($192.0 million). The acquisition, which is expected to close in the third quarter of 2006, remains subject to customary closing conditions.
  • Jul 13, 2006

    The Blackstone Group Agrees to Buy the Real Estate of 7 Villages Managed by Center Parcs Europe

    The Blackstone Group and Pierre & Vacances today announced that The Blackstone Group has reached a formal sale and purchase agreement with the owners of the real estate of seven Center Parcs resorts located in the Netherlands, Germany and Belgium.
  • Jul 11, 2006

    Blackstone Private Equity Fund Closes on $15.6 Billion

    New York, July 11, 2006: The Blackstone Group today announced the closing of its latest global private equity fund, Blackstone Capital Partners V (BCP V), with total commitments of $15.6 billion, creating the world’s largest private equity fund. BCP V, like its predecessor funds, will be invested across a broad range of sectors and geographical locations.
  • Jul 10, 2006

    Blackstone to Invest $50 million in Emcure Pharmaceuticals Limited

    New York/Pune, July 10, 2006: Emcure Pharmaceuticals Limited (“Emcure” or the “Company”) and The Blackstone Group, announced today that Emcure’s Board of Directors has approved an agreement as part of which The Blackstone Group and its affiliates (“Blackstone”) would invest U.S. $50 million in the Company. No further terms were disclosed. This transaction represents Blackstone’s first investment in India after the launch of its private equity business in India in the middle of last year. The transaction is expected to close by August 2006.
  • Jun 30, 2006

    Cendant Agrees to Sell Travelport to an Affiliate of The Blackstone Group

    NEW YORK, June 30, 2006 — Cendant Corporation (NYSE: CD) today announced that it has entered into a definitive agreement to sell Travelport, the Company’s travel distribution services subsidiary, to an affiliate of The Blackstone Group for approximately $4.3 billion in cash. The completion of the transaction is subject to satisfaction of customary conditions to closing, including the receipt of applicable regulatory approvals, and is expected to close in August 2006.
  • Jun 30, 2006

    Michaels Stores announces Recapitalization Agreement with Bain Capital and The Blackstone Group

    Irving, TX, June 30, 2006 – Michaels Stores, Inc. (NYSE: MIK) today announced that, following a comprehensive review of strategic alternatives that began on March 20th 2006, its Board of Directors has approved a transaction to recapitalize the Company with investment by two leading global private investment firms, Bain Capital and The Blackstone Group.
  • Jun 30, 2006

    Encore Medical Enters Into Agreement With Blackstone

    June 30, 2006 Austin, Texas — Encore Medical Corporation (“Encore”) (Nasdaq: ENMC) today announced that it has entered into a definitive merger agreement with a company newly formed and controlled by Blackstone Capital Partners V L.P. (“Blackstone”) in a going private transaction. Under the terms of the agreement, Encore’s stockholders will receive $6.55 in cash for each share of Encore common stock they hold, a 36% premium to the Nasdaq closing price of $4.81 on June 30, 2006. The transaction will be financed through a combination of equity contributed by Blackstone and debt financing. The total value of the transaction is approximately $870 million. It is expected that members of Encore’s existing senior management team will retain their current positions after the transaction closes and will participate in the ownership of the ongoing entity.
  • Jun 30, 2006

    Sale of Travelport Affirms its Recognition as One of the World's Largest Networks of Travel Brands

    Parsippany, NJ, June 30, 2006 — An announcement today by Cendant Corporation (NYSE: CD) that it has agreed to sell its travel distribution services subsidiary, Travelport, to an affiliate of The Blackstone Group, marked Travelport’s prominence as one of the world’s largest and most geographically dispersed competitors in the $6 trillion global travel industry.
  • Jun 23, 2006

    Blackstone Closes Eighth CDO Vehicle on $500 million

    Purpose of the Repurchase Offer – The repurchase offer is intended to provide Fund stockholders who wish to have their shares repurchased based on net asset value (“NAV”) with the opportunity to have at least a portion of such shares repurchased.
  • Jun 15, 2006

    Blackstone Strengthens Corporate Debt Team

    New York, June 15, 2006: The Blackstone Group today announced that David Petrucco will be joining the firm’s Corporate Debt Group as Managing Director, Capital Markets, to aid the team’s interaction with underwriters seeking to arrange debt for mid-market companies. Mr. Petrucco was formerly with RBS Securities where he was Managing Director, Head of Loan Syndicate/Capital Markets for North America.
  • Jun 08, 2006

    Blackstone Real Estate Partners V Closes on $5.25 Billion

    New York, June 8, 2006: The Blackstone Group today announced the closing of Blackstone Real Estate Partners V (BREP V) with capital commitments totaling $5.25 billion creating the largest real estate opportunity fund ever raised. With BREP International II, which closed on €1.55 billion at the end of last year, Blackstone now has over $7 billion of available capital, the world’s largest pool of capital for real estate opportunity investing. The firm has raised a total of seven real estate funds since inception, five for general investing and two with a specific focus on Western Europe, with total capital of approximately $12.7 billion.
  • Jun 08, 2006

    Valcon Obtains More Than 97% of VNU Share Capital

    Haarlem, The Netherlands, 8 June 2006 – VNU N.V. ("VNU") and Valcon Acquisition B.V. ("Valcon") hereby jointly announce that per 8 June 2006 at 15:00 hours, Amsterdam time (09:00 hours, New York time), more than 97% of the share capital of VNU has been tendered for acceptance or otherwise committed in connection with the Offer.