Private equity powerhouse Blackstone (NYSE: BX ) has agreed to acquire Credit Suisse's (NYSE: CS ) Strategic Partners secondary private equity business for an undisclosed sum, the company announced yesterday.
Strategic Partners has $9 billion in assets under management (AUM). At the rule-of-thumb valuation of 2% of AUM, this would suggest the business might have sold for $180 million or more -- but the parties are keeping mum on the precise dollar value for now.
What is known is that Credit Suisse has been implementing "strategic divestments" of some of its businesses since last summer, Strategic Partners among them.
Strategic Partners' business model involves buying secondary interests in private equity funds from other investors who already hold such interests. Since 2000, Strategic Partners has raised more than $11 billion of capital commitments, completed more than 700 transactions, and acquired more than 1,400 underlying limited partnership interests from other parties. Its performance has been in the top quartile among its peers. Strategic Partners is staffed by 26 secondary investment professionals, and headed by Stephen Can and Verdun Perry.
Top High Tech Stocks To Watch For 2014: Western Copper Corp (WRN.TO)
Western Copper and Gold Corporation, an exploration stage company, engages in the exploration and development of mineral properties in Canada. It holds a 100% in the Casino property located northwest of Whitehorse in Yukon, Canada. The Casino property holds porphyry gold, copper, and molybdenum resources. The company was formerly known as Western Copper Corporation and changed its name to Western Copper and Gold Corporation in October 2011. Western Copper and Gold Corporation was founded in 2006 and is headquartered in Vancouver, Canada.
Top High Tech Stocks To Watch For 2014: RDA Microelectronics Inc.(RDA)
RDA Microelectronics, Inc., a fabless semiconductor company, designs, develops, and markets radio-frequency and mixed-signal semiconductors for cellular, broadcast, and connectivity applications. Its products include power amplifiers, transceivers and front-end modules, FM radio receivers and transmitters, set-top box tuners, analog mobile television receivers, walkie-talkie transceivers, LNB satellite downconverters, and Bluetooth system-on-chips for mobile handsets. The company?s products also comprise GSM/EDGE power amplifier modules, GSM transceivers, TD-SCDMA transceivers, SCDMA transceivers, 3G switch modules, GSM power amplifier and switch modules, PHS transceivers, TD-SCDMA/GSM dual-mode transceivers, and radio frequency switches; DVB-T tuners, DVB-S and DVB-S2 satellite tuners, analog mobile television receiver system-on-chips, and FM radio receivers with radio data system; and Bluetooth + FM system-on-chips for mobile handsets and walkie-talkie transceivers for professional applications. Its products are incorporated into mobile handsets, set-top boxes, MP3 players, and other wireless and consumer electronic devices. RDA Microelectronics sells its products through distributors in the People?s Republic of China, southeast Asia, India, the Middle East, Africa, the Russian Federation, and Latin America. The company was founded in 2004 and is headquartered in Shanghai, the People?s Republic of China.
Advisors' Opinion:- [By Luke Jacobi]
RDA Microelectronics (NASDAQ: RDA) shot up 11.96 percent to $15.54 after the company received a non-binding acquisition proposal.
Finish Line (NASDAQ: FINL) got a boost, shooting up 9.02 percent to $24.41 after the company reported a 6.1 percent rise in its fiscal second-quarter earnings.
- [By Jake L'Ecuyer]
RDA Microelectronics (NASDAQ: RDA) was also up, gaining 11.12 percent to $17.28 after the company announced the receipt of $18.00/ADS acquisition proposal from Tsinghua Unigroup.
- [By Anna Prior]
RDA Microelectronics Inc.(RDA) agreed to be acquired by a unit of Chinese state owned Tsinghua Holdings Co. in a deal estimated at $910 million. RDA Microelectronics shareholders will receive $18.50 per American depositary share, a 5.5% premium to Friday’s close.
Top 5 Value Stocks To Watch For 2014: Aeropostale Inc (ARO)
Aeropostale, Inc., (Aeropostale), incorporated on September 1, 1995, is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men through its Aeropostale stores and 4 to 12 year-old kids through its P.S. from Aeropostale stores. P.S. from Aeropostale products can be purchased in P.S. from Aeropostale stores, in certain Aeropostale stores, and online at www.ps4u.com. As of January 28, 2012, it operated 986 Aeropostale stores, consisting of 918 stores in 50 states and Puerto Rico, 68 stores in Canada, as well as 71 P.S. from Aeropostale stores in 20 states. The Company designs, sources, markets and sells all of its own merchandise. In addition, pursuant to a licensing agreement, it operated 14 Aeropostale and P.S. from Aeropostale stores in Middle East and South East Asia. During March 2011, it announced that it had signed a second licensing agreement. The licensee to this agreement is focused to open approximately 30 stores in stores in Turkey over the next five years. In November 2012, the Company acquired online women's fashion footwear and apparel retailer GoJane.com (GoJane).
P.S. from Aeropostale offers casual clothing and accessories focusing on kids between the ages of 4 and 12. It�� P.S. from Aeropostale products are sold only at its stores and online through its e-commerce Websites, www.ps4u.com and www.aeropostale.com. The Company operates three street level stores in the New York City area. It also has a19,000 square foot Aeropostale store in the Times Square section of New York City. It offers both Aeropostale and P.S. from Aeropostale products in the Times Square store.
Advisors' Opinion:- [By Lisa Levin]
Aeropostale (NYSE: ARO) surged 17.19% to $10.09. The volume of Aeropostale shares traded was 970% higher than normal. Private equity firm Sycamore Partners bought a 7.96% stake in Aeropostale.
- [By Paul Ausick]
DJIA stocks on the move: Lions Gate Entertainment Corp. (NYSE: LGF) hit a new 52-week high of $35.13 on Wednesday. Trina Solar Ltd. (NASDAQ: TSL) rose more than 15% after posting better than expected earnings on Tuesday, Aeropostale Inc. (NYSE: ARO) put up a new 52-week low of $11.40, and another teen retailer, and American Eagle Outfitter Inc. (NYSE: AEO) also put up a new low of $14.33.
- [By Jeremy Bowman]
What: Shares of Aeropostale (NYSE: ARO ) finished down 10% Friday after the teen-focused clothing retailer posted a weak quarterly earnings report.
Top High Tech Stocks To Watch For 2014: Toromont Industrie Com Stk Npv (TIH.TO)
Toromont Industries Ltd. provides specialized capital equipment and customer support to customers and industries in various markets in Canada, the United States, and internationally. The company operates in two segments, Equipment Group and CIMCO. The Equipment Group segment operates as a Caterpillar dealer. This segment sells, rents, and services mobile equipment for manufacturers, engines used in various applications; and sells complementary and related products, parts, and services, as well as distributes replacement parts for Caterpillar products and other equipment lines, and remanufactures and repairs engines and engine components. It offers various products comprising earthmoving and construction equipment, paving machines, mining and forestry equipment, and diesel engines for trucks, products for industrial and marine applications, and power generation equipment. In addition, this segment provides mobile equipment rental and compact construction equipment purchase solutions, including commercial and industrial machines and tools, lift systems, concrete-related building materials, and propane; and engages in the engineering, construction, commissioning, and operation of energy plants fuelled by natural gas, landfill gas, biogas, and diesel fuel in hospitals, district energy systems, and industrial processes. The CIMCO segment is involved in the design, engineering, fabrication, and installation of industrial refrigeration systems for food, dairy, cold storage, and beverage segments; and recreational refrigeration systems for artificial ice surfaces used in various sporting activities, such as hockey, curling, skating, and other unusual ice surfaces. Toromont Industries Ltd. was founded in 1961 and is based in Concord, Canada.
Top High Tech Stocks To Watch For 2014: Alimera Sciences Inc.(ALIM)
Alimera Sciences, Inc., a biopharmaceutical company, engages in the research, development, and commercialization of prescription ophthalmic pharmaceuticals. The company focuses on diseases affecting the back of the eye or retina. The company is developing ILUVIEN, an intravitreal insert in phase-3 clinical trials for the treatment of diabetic macular edema (DME), which is a disease of the retina that affects individuals with diabetes and could lead to severe vision loss and blindness. Its ILUVIEN insert designed to be inserted into the patient?s eye to release a daily dose of fluocinolone acetonide over an anticipated period of 24 to 36 months. The company also conducts phase-2 clinical trials on ILUVIEN for the treatment of the dry form of age-related macular degeneration (AMD), the wet form of AMD, and retinal vein occlusion. In addition, it conducts testing on two classes of nicotinamide adenine dinucleotide phosphate oxidase inhibitors. Further, the company develops I LUVIEN inserter, a custom insertion system for ILUVIEN. Alimera Sciences, Inc. was founded in 2003 and is headquartered in Alpharetta, Georgia.
Advisors' Opinion:- [By John Kell]
Specialty pharmaceutical firm pSivida Corp.(PSDV) said the U.S. Food and Drug Administration didn’t approve a treatment for an eye disease found in patients with diabetes. The company’s stock tumbled 47% to $2 premarket, while shares of Alimera Sciences Inc.(ALIM) were down 39% to $1.66, as the treatment is licensed and sold by Alimera in other markets.
- [By Smith On Stocks]
This note focuses on the implications of the complete response letter (CRL) received by Alimera (ALIM) for Iluvien. This product was developed by pSivida (PSDV) but was partnered with Alimera. This report deals only with the investment significance for pSivida.
Top High Tech Stocks To Watch For 2014: Cobham(COB.L)
Cobham plc engages in the development, delivery, and support of aerospace and defence technology and systems worldwide. The company operates in four segments: Cobham Aerospace and Security, Cobham Defence Systems, Cobham Mission Systems, and Cobham Aviation Services. The Cobham Aerospace and Security segment provides avionics and communication equipment, law enforcement and national security solutions, and satellite communication equipment for land, sea, and air applications. The Cobham Defence Systems segment offers technology for network centric and intelligence operations, as well as enables information to move around the digital battlefield with solutions for people and systems to communicate on land, sea, and air. The Cobham Mission Systems segment provides safety and survival systems; re fuelling and mission systems for jets, transport aircraft, and rotor craft; and remote controlled robots and bomb disposal vehicles for homeland security and military applications. C obham Aviation Services segment delivers aviation services for military and civil customers through military training, mission flight operations, outsourced commercial aviation, and aircraft engineering. The company serves original equipment manufacturers, government agencies, contractors, airlines, and other commercial customers. Cobham plc was founded in 1934 and is based in Wimborne, the United Kingdom.
No comments:
Post a Comment