Latest news with #TPG
Yahoo
2 days ago
- Business
- Yahoo
TPG revives Debenhams links with £175m Boohoo debt deal
The London-listed fashion retailer Boohoo Group is close to securing a £175m refinancing boost in a deal that will revive memories of one of Britain's most notorious private equity takeovers. Sky News has learnt that Boohoo, which has been embroiled in a tussle to rename itself as Debenhams, is in advanced talks to secure a significant chunk of debt from TPG, the US-based investment giant. The discussions are said to be close to an agreement, although precise details, including the ultimate size of the refinancing package and the extent of TPG's contribution, were unclear on Wednesday evening. Money latest: If confirmed, it will re-establish TPG as a Debenhams stakeholder more than 20 years after the buyout firm was part of a consortium which delisted it from the London Stock Exchange. In 2003, TPG, CVC Capital Partners and Merrill Lynch Private Equity paid £1.7bn to take the department store chain private in a deal which saddled the retailer with over £1bn of debt. They then relisted it three years later in a flotation which proved to be lucrative for the private equity firms but became a poster-child for the financial engineering adopted by the industry. Debenhams' financial performance deteriorated over the following decade, however, amid rapidly shifting consumer behaviour. In 2019, the company fell into administration for the first time, before collapsing again soon after the start of the COVID pandemic the following year. Boohoo, which saw its own valuation soar as consumer and investor demand soared for online fashion retailers, snapped up the Debenhams brand in 2020. That deal infuriated the Frasers Group tycoon Mike Ashley, who had fought a running battle with the Debenhams board as he attempted to buy the company. Earlier this year, Mr Ashley used Frasers' big minority stake in Boohoo to vote down its plans to change its legal name to Debenhams - although the company is now using the name as its corporate brand. The group's refinancing needs saw it appoint Interpath Advisory earlier this year. In May, the Telegraph reported that Boohoo was talking to expensive high-yield lenders about providing a £50m chunk of debt to the company. TPG and Interpath declined to comment, while Boohoo did not respond to an enquiry from Sky News.
Sky News
2 days ago
- Business
- Sky News
TPG revives Debenhams links with £175m Boohoo debt deal
The London-listed fashion retailer Boohoo Group is close to securing a £175m refinancing boost in a deal that will revive memories of one of Britain's most notorious private equity takeovers. Sky News has learnt that Boohoo, which has been embroiled in a tussle to rename itself as Debenhams, is in advanced talks to secure a significant chunk of debt from TPG, the US-based investment giant. The discussions are said to be close to an agreement, although precise details, including the ultimate size of the refinancing package and the extent of TPG's contribution, were unclear on Wednesday evening. If confirmed, it will re-establish TPG as a Debenhams stakeholder more than 20 years after the buyout firm was part of a consortium which delisted it from the London Stock Exchange. In 2003, TPG, CVC Capital Partners and Merrill Lynch Private Equity paid £1.7bn to take the department store chain private in a deal which saddled the retailer with over £1bn of debt. They then relisted it three years later in a flotation which proved to be lucrative for the private equity firms but became a poster-child for the financial engineering adopted by the industry. Debenhams' financial performance deteriorated over the following decade, however, amid rapidly shifting consumer behaviour. In 2019, the company fell into administration for the first time, before collapsing again soon after the start of the COVID pandemic the following year. Boohoo, which saw its own valuation soar as consumer and investor demand soared for online fashion retailers, snapped up the Debenhams brand in 2020. That deal infuriated the Frasers Group tycoon Mike Ashley, who had fought a running battle with the Debenhams board as he attempted to buy the company. Earlier this year, Mr Ashley used Frasers' big minority stake in Boohoo to vote down its plans to change its legal name to Debenhams - although the company is now using the name as its corporate brand. The group's refinancing needs saw it appoint Interpath Advisory earlier this year. In May, the Telegraph reported that Boohoo was talking to expensive high-yield lenders about providing a £50m chunk of debt to the company.
The Hindu
4 days ago
- Business
- The Hindu
India's listed startups raised over ₹44,000 crore from public markets in FY25: report
Venture-backed Indian startups raised over ₹44,000 crore ($5.3 billion) in FY25 from public markets via IPOs, FPOs, and QIPs, marking a structural shift in startup fundraising lifecycle in India. According to investment bank Rainmaker Group's RainGauge Index FY25 Annual Update, public markets outpaced private capital for late-stage fundraising, solidifying their role as the dominant source of growth capital. The money raised from public markets was two times more than private late-stage capital. The year also saw a record ₹20,000+ Crore in secondary exits as PE/VC firms like Peak XV and TPG harvested early bets through block and bulk deals. 'FY25 didn't just test India's startup listings, it matured them,' said Kashyap Chanchani, Managing Partner, The Rainmaker Group. 'The public market has become the preferred playground for India's breakout companies. We've now seen the full arc - the IPO frenzy, the valuation winter, and now a clear re-rating driven by fundamentals. This is the age of seasoning. The market is no longer listening to stories, it's pricing in substance. India's innovation economy has hit a new gear, one where companies with predictable earnings, durable moats, and institutional-grade governance will dominate,' he added. The report also noted that despite the early-year correction and record FII outflows [around ₹78,000 Crore in Q1], foreign investors returned strongly by Q4, driven by rate-cut expectations and India's steady macro indicators. The year witnessed Zomato joining the NIFTY50 and SENSEX, Swiggy entering the NIFTY Next 50, and Nykaa, PB Fintech, Ola Electric inducted into the NIFTY MidCap150. 'With IPOs no longer delivering inflated valuations or easy exits, startups will have to align with public market expectations much earlier in their lifecycle,' said a statement from the company. 'Sector-specific valuation guardrails are firmly in place with two-year forward EV/EBITDA multiples now providing structured lenses across internet, SaaS, BFSI, and consumer brands. Analyst-grade metrics, unit economics, transparency, and sustainable growth stories will need to be baked in from day one. Startups must now build with capital efficiency, narrative credibility, and governance readiness and not just valuation hype,' it further read.
Yahoo
16-07-2025
- Business
- Yahoo
Brighthouse Financial Stock Pops on Report of Buyout Talks With Aquarian
Key Takeaways Brighthouse Financial shares took off Wednesday following a report that private equity firm Aquarian Holdings could be close to striking a deal to buy the insurer. The two sides could come to an agreement in the coming weeks, according to The Wall Street Journal. The paper said several firms have shown interest in acquiring Brighthouse, including Financial (BHF) shares took off Wednesday following a report that private equity firm Aquarian Holdings could be close to striking a deal to buy the insurer. Shares of Brighthouse were up close to 9% over $51 in recent trading, bringing them back into positive territory for the year. An agreement could be reached in a matter of weeks, The Wall Street Journal reported. Several other private equity investors have also shown interest in buying Brighthouse, including TPG, the report said. Aquarian already owns several insurance assets, and in March announced it established the Aquarian Insurance Holdings division. Aquarian said the new unit would 'provide a shared structure for the company's reinsurance and retail insurance businesses that optimizes growth and synergies amongst the organization.' Brighthouse and Aquarian did not immediately respond to Investopedia requests for comment. Read the original article on Investopedia Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
Brighthouse Financial stock surges after WSJ report on potential Aquarian deal
-- Brighthouse Financial (NASDAQ:BHF) stock surged 10% in after-hours trading Tuesday following a Wall Street Journal report that investment firm Aquarian Holdings is in exclusive talks to acquire the U.S. life insurance company. According to people familiar with the matter, a deal could be finalized in the coming weeks, barring any last-minute complications. The report indicates this development marks the conclusion of a competitive bidding process that had attracted interest from several major private-equity firms. TPG, reportedly the other finalist in the acquisition process, had been pursuing a structured deal involving only certain parts of Brighthouse rather than a complete purchase. However, according to a source familiar with the situation, TPG was unable to reach an agreement and did not submit a final bid. Related articles Brighthouse Financial stock surges after WSJ report on potential Aquarian deal Clients buying into summer rally, bracing for later pullback, says BofA's Hartnett These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia Sign in to access your portfolio
