Wednesday, 1 April 2015
Last updated 8 hours ago
Jun 12 2014 | 10:55am ET
Bain Capital Partners and Goldman Sachs will pay more than $100 million to settle allegations that they and other big private-equity companies colluded to keep takeover prices down.
The settlement, which leaves just five of the original 11 p.e. firms still facing the lawsuit, was disclosed yesterday in court papers. The class-action lawsuit brought by shareholders of companies bought out by p.e. firms over the past decade, alleging that the firms agreed not to bid on eight companies sought by competitors, is set to go to trial on Nov. 3.
Bain will pay $54 million and Goldman $67 million. Their deals could bring the remaining respondents, Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts, Silver Lake Partners and TPG Capital, to the negotiating table.
“It is harder to settle multi-defendant lawsuits in one fell swoop, and this may portend breaking the logjam,” Christopher Burke, a lawyer for the plaintiffs, told Reuters.
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…