Friday, 27 March 2015
Last updated 1 hour ago
Jan 24 2007 | 11:52am ET
If only the Hatfields and McCoys had a $15 billion deal to make amends over.
Wall Street’s version of the gunslinging Appalachian back-country haters is taking an interesting turn, as Goldman Sachs and Morgan Stanley combine their considerable resources (and tame their considerable egos) to win a particularly fat piece of private equity fruit.
The peacemaker? A bid for the oil and gas assets of Dominion Resources, which could be as high as $15 billion. And rather than two old adversaries going it alone, The Wall Street Journal reports that they’ve quietly teamed up with such p.e. heavyweights as Madison Dearborn Partners, Warburg Pincus, First Reserve, The Carlyle Group and Riverstone Holdings.
Goldman and Morgan have worked together in the past, the Journal notes, but not since the heady days of the internet and Asian bubbles. Sometimes, however, working with a hated rival is better than losing: The Blackstone Group, Texas Pacific Group and Kohlberg Kravis Roberts are reportedly considering a joint bid themselves.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…