Centerbridge Partners

EQS-News: Atlantic BidCo launches public tender offer to initiate the delisting of Aareal Bank – Shareholders can tender remaining shares from today

Retrieved on: 
Thursday, October 26, 2023
Frankfurt Stock Exchange, Aareal Bank, TEL, FGS Global, FGS, 2021 German federal election, Centerbridge Partners, Software, CPP Investment Board, Advent International, CET, Bidding, Federal Financial Supervisory Authority, Holding company, Cryptocurrency, Automotive industry

Upon the delisting, Aareal Bank shareholders will no longer have access to a regulated market for Aareal Shares.

Key Points: 
  • Upon the delisting, Aareal Bank shareholders will no longer have access to a regulated market for Aareal Shares.
  • Frankfurt, 19 October 2023 – Atlantic BidCo GmbH (“Atlantic BidCo” or the “Bidder”) today published a public delisting tender offer (the “Delisting Offer”) for all remaining outstanding shares of Aareal Bank AG (“Aareal Bank”).
  • During this time, Aareal Bank shareholders can accept the Delisting Offer and tender their shares to the Bidder.
  • Upon the delisting, Aareal Bank shareholders will no longer have access to a regulated market for Aareal Shares.

Title Resources Group Appoints New Board Members

Retrieved on: 
Monday, October 23, 2023
Digital, Insurance, Invitation Homes, HomeServices of America, Pacific Gas and Electric Company, Celebrity board director, Private equity, Assurant, CFO, Centerbridge Partners, Forecasting, The Electric Company, Management, TRG

DALLAS, Oct. 23, 2023 /PRNewswire/ -- Title Resources Group (TRG), one of the nation's leading title insurance underwriters, announced today that they have welcomed two members to their Board of Directors – Alex Seavall and Charles Chacko.

Key Points: 
  • DALLAS, Oct. 23, 2023 /PRNewswire/ -- Title Resources Group (TRG), one of the nation's leading title insurance underwriters, announced today that they have welcomed two members to their Board of Directors – Alex Seavall and Charles Chacko.
  • "I'm pleased to welcome Alex and Charles to our board," said Alan Colberg, Board Chairman of TRG.
  • "Alex and Charles are both leaders in their respective companies who bring great value to our board.
  • Mr. Chacko has over 20 years of experience in the title insurance industry and has held many senior leadership roles.

Barclays appoints Michael Del Giudice as Chairman of Financial Sponsors Group

Retrieved on: 
Thursday, October 12, 2023
Professional Services, Payments, Technology, Finance, Fintech, Internet, Banking, Partnership, Warburg Pincus, Corporation, Onex, Investment banking, Financial sponsor, J. P. Morgan, Head, JPMorgan Chase, Crédit Agricole Corporate and Investment Bank, EQT, Blackstone, Security (finance), Barclays, Centerbridge Partners

Barclays today announces the appointment of Michael Del Giudice as Chairman of Financial Sponsors Group.

Key Points: 
  • Barclays today announces the appointment of Michael Del Giudice as Chairman of Financial Sponsors Group.
  • Mr. Del Giudice will be based in New York and report to Jean-Francois Astier, Global Head of Financial Sponsors Group.
  • Mr. Del Giudice will work closely with Christian Oberle, who last month was announced as Head of Americas Financial Sponsors Group at Barclays, to further drive the bank’s strategy and coverage of financial sponsor clients.
  • Mr. Oberle joined Barclays from J.P. Morgan Chase & Co.
    “We are delighted to welcome Mike to Barclays and to our Financial Sponsors practice.

Centerbridge Partners and Wells Fargo Enter Strategic Relationship Focused on Direct Lending to Middle-Market Companies

Retrieved on: 
Tuesday, September 26, 2023
Professional Services, Business, Finance, BCI, Partner, Wells Fargo, Centerbridge Partners, Marketplace, WFC, ADIA, Crown corporations of Canada, Growth, Entrepreneurship, Abu Dhabi Investment Council, Abu Dhabi Investment Authority, NYSE, Bank, Financial services

Centerbridge Partners (Centerbridge) and Wells Fargo & Company (NYSE: WFC) announced they are entering into a strategic relationship focused on direct lending to non-sponsor North American middle market companies.

Key Points: 
  • Centerbridge Partners (Centerbridge) and Wells Fargo & Company (NYSE: WFC) announced they are entering into a strategic relationship focused on direct lending to non-sponsor North American middle market companies.
  • Overland represents a transformative new business model for direct lending to middle-market companies, diversifying the market of clients served by private credit and direct lending.
  • The Centerbridge and Wells Fargo strategic relationship includes differentiated origination sourcing from Wells Fargo’s extensive middle market customer base, and an equity investment from Wells Fargo.
  • Overland Advisors will be controlled by Centerbridge Partners, and Wells Fargo will be a minority investor.

Paul, Weiss Enhances Private Equity Capabilities With Arrival of Market-Leading Transactional Teams in London, New York and Los Angeles

Retrieved on: 
Monday, September 11, 2023
Finance, Consulting, Banking, Professional Services, Legal, TDR Capital, Partnership, H.I.G. Capital, GTCR, Altor, Head, KKR, Lawyer, Sale, Ares Management, Lone Star, Blackstone, Warburg Pincus, Lowe, HPS, EQT, Court Square Capital Partners, Acquisition, Income Tax Department, Corporation, Searchlight Capital, Thoma Bravo, Capital, Canadian Tire, Growth, Madison Dearborn Partners, Paul, Weiss, Rifkind, Wharton & Garrison, The Carlyle Group, CHF, Credit, BC Partners, Financial services, Investindustrial, Centerbridge Partners, Triton

Paul, Weiss announced today that 13 prominent private equity transactional partners are joining the firm to significantly expand its global private equity practices, led by Neel V. Sachdev and Roger Johnson in London and Eric J. Wedel in New York and Los Angeles.

Key Points: 
  • Paul, Weiss announced today that 13 prominent private equity transactional partners are joining the firm to significantly expand its global private equity practices, led by Neel V. Sachdev and Roger Johnson in London and Eric J. Wedel in New York and Los Angeles.
  • Roger has long advised global private equity firms and financial sponsor clients on all forms of cross-border leveraged M&A and portfolio assistance, including restructuring advice.
  • Will regularly advises on the most complex cross-border private equity transactions in the region, including private M&A, buyouts, carve-outs, co-investments, consortium deals and distressed acquisitions.
  • His clients include TDR Capital, Hillhouse Investment, I Squared Capital, and numerous other major private equity firms.

Banc of California Names Debora Vrana as Executive Vice President & Chief Communications Officer

Retrieved on: 
Tuesday, September 12, 2023
Banking, Asset Management, Professional Services, Finance, Columbia University, Banq, Communication, Executive, Partnership, PacWest Bancorp, Banc of California, Marketing, Weeping Angel, BANC, City National Bank, Warburg Pincus, Growth, Bank, SVP, Centerbridge Partners, NYSE, Management

Banc of California, Inc. (NYSE: BANC) (the “Company”) announced today that Debora Vrana has joined its wholly owned subsidiary, Banc of California, N.A.

Key Points: 
  • Banc of California, Inc. (NYSE: BANC) (the “Company”) announced today that Debora Vrana has joined its wholly owned subsidiary, Banc of California, N.A.
  • (the “Bank”), California’s premier relationship-focused business bank, in the newly created role of Executive Vice President and Chief Communications Officer.
  • Samantha Haugh, SVP of Marketing for Banc of California, will continue to lead marketing and report to Ms. Vrana.
  • “Debora brings to Banc of California a strong track record of leadership and demonstrated ability to work strategically with business lines to support growth,” said Jared Wolff, Chairman, President and Chief Executive Officer of Banc of California.

EQS-News: TAG Immobilien AG reports good operating rental results and increased sales results in H1 2023; extensive repayments made on financial liabilities

Retrieved on: 
Monday, August 14, 2023
Housing, ICR, TAG, Centerbridge Partners, USD, Sale, LTV, FFO, EBITDA, Acquisition, CFO, Rest, Environment, Credit, Clothing, Real estate, Property management, Film industry, Renewable energy, Bank, P.A. Semi, EUR

TAG Immobilien AG reports good operating rental results and increased sales results in H1 2023; extensive repayments made on financial liabilities

Key Points: 
  • TAG Immobilien AG reports good operating rental results and increased sales results in H1 2023; extensive repayments made on financial liabilities
    The issuer is solely responsible for the content of this announcement.
  • Higher financing costs of EUR 9.6m from newly signed or renewed financial liabilities led to this development despite a EUR 4.2m increase in the operating result (adjusted rental EBITDA).
  • Despite higher operating results in rentals and sales, group consolidated net profit for H1 2023 was negative at EUR -304.7m (after a net profit of EUR 301.8m in H1 2022).
  • This was due to the losses from property valuation of EUR 455.5m recognised in the first half of the year.

KBRA Affirms Ratings for Banc of California, Inc. and Maintains Watch Developing Status for PacWest Bancorp

Retrieved on: 
Friday, July 28, 2023
Professional Services, Finance, Warburg, NIM, Banq, Maintenance, General counsel, PacWest Bancorp, Banc of California, SFR, KBRA, AFS, BANC, CCO, Sale, Centerbridge Partners, Outlook, Organization, BBB, Warburg Pincus, CFO, BB, NYSE, Security (finance), Bank, K2, K3

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Banc of California, Inc. (NYSE: BANC).

Key Points: 
  • KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Banc of California, Inc. (NYSE: BANC).
  • Additionally, KBRA affirms the senior unsecured debt and deposit ratings of BBB+, the subordinated debt rating of BBB, and the short-term debt and deposit ratings of K2 for its subsidiary, Banc of California, N.A.
  • Continuation of the Watch Developing status for PACW during the period prior to merger close is considered most appropriate at this juncture.
  • The successful completion of the merger would result in a resolution of PACW's Watch Developing status, maintaining BANC's current ratings and Outlook for the combined company.

Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge

Retrieved on: 
Tuesday, July 25, 2023
Banking, Professional Services, Finance, Slate, Simon Borrows, Banq, LLP, Wachtell, Lipton, Rosen & Katz, PacWest Bancorp, Banc of California, Education, BANC, PacWest, ID, Sale, Organization, Warburg Pincus, Simpson Thacher & Bartlett, Oliver Cromwell, Jefferies Group, Federal Reserve, Skadden, Arps, Slate, Meagher & Flom, Risk, SBA, Webcast, Sullivan & Cromwell, Growth, EPS, NYSE, Economics, Bank, Security (finance), Management, Video game, Centerbridge Partners, HOA

Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, PacWest will merge into Banc of California, and Banc of California, N.A.

Key Points: 
  • Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, PacWest will merge into Banc of California, and Banc of California, N.A.
  • Under the terms of the merger agreement, PacWest stockholders will receive 0.6569 of a share of Banc of California common stock for each share of PacWest common stock.
  • Jared Wolff, President and Chief Executive Officer of Banc of California, will retain the same roles at the combined company.
  • The webcast, along with related slides, will be available on both the Banc of California website ( https://investors.bancofcal.com/news-events-and-presentations/event-cale... and the PacWest website ( https://www.pacwestbancorp.com/news-market-data/presentations/default.aspx ).

Centerbridge Partners and GIC Complete Acquisition of INDUS Realty Trust, Inc.

Retrieved on: 
Thursday, June 29, 2023
Banking, Architecture, Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Urban Planning, Building Systems, REIT, Finance, Landscape, Interior Design, Slate, LLP, Standard Chartered, Morgan Stanley, J.P. Morgan & Co., Latham & Watkins, Simpson Thacher & Bartlett, Acquisition, ADIA, Skadden, Arps, Slate, Meagher & Flom, Growth, Abu Dhabi Investment Office, Abu Dhabi Investment Authority, GIC, Real estate, Cryptocurrency, Centerbridge Partners

Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) will act as a strategic investor alongside Centerbridge in the ownership of INDUS post-closing.

Key Points: 
  • Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) will act as a strategic investor alongside Centerbridge in the ownership of INDUS post-closing.
  • “We are excited to have closed this transaction and look forward to the Company’s next phase under Centerbridge, GIC and ADIA’s ownership,” said Michael Gamzon, President and CEO of INDUS.
  • Morgan Stanley & Co. LLC served as exclusive financial advisor to INDUS and Latham & Watkins LLP served as legal counsel to INDUS.
  • Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to GIC.