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November 17, 2018

HgCapital Selects iLEVEL for Portfolio Monitoring

NEW YORK–(BUSINESS WIRE)–

iLEVEL, the leading portfolio monitoring, analytics and transparency platform for the global private capital markets, has been selected by European private equity firm HgCapital to support the optimization of their portfolio data management and reporting processes.

HgCapital has assets under management of over £5 billion, serving over 100 highly regarded institutional investors, including private and public pension funds, endowments, insurance companies and fund of funds. A staff of more than 100 people in investment offices in London and Munch manage three investment funds.

Amanda Good, Head of the Portfolio Projects team at HgCapital said: “iLEVEL will streamline our reporting process, enabling us to create reports faster and automate many of the tasks that previously had to be performed manually.”

Melissa Ferraz, Vice President, EMEA Client Development of iLEVEL said: “We are delighted a firm of the calibre of HgCapital has selected iLEVEL. With our recent expansion into the European market, we’ve experienced an overwhelmingly positive reception to the iLEVEL platform, with firms like HgCapital recognizing the value of leveraging data flows more efficiently.”

In 2014, iLEVEL launched their London-based operations and opened a European data centre in the United Kingdom.

The number of firms on iLEVEL has doubled in the past year and includes alternative investment firms of varying sizes that employ a wide range of investment strategies including Private Equity, Real Estate, Credit and Venture Capital. Leading LPs and Funds of Funds are also adopting iLEVEL. More than 5,500 iLEVEL users span the globe, tracking over a billion data points across 11,500 portfolio companies.

About HgCapital

HgCapital is a sector expert private equity investor, supporting management teams to grow industry champions. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established market position, and which have the potential to grow faster than their market, create employment and become the leader in their industry. HgCapital’s dedicated portfolio management team provides practical support to management teams to help them realise their growth ambitions. HgCapital invests in expanding segments of the TMT, Services, Industrials and Renewable Energy sectors across Western Europe. Based in London and Munich, HgCapital manages over £5 billion for some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com.

About iLEVEL

iLEVEL is the leading portfolio monitoring, analytics and transparency platform for the global private capital markets. iLEVEL’s SAAS, cloud-based platform empowers fund managers and investors to harness their data and gain insights and transparency never before possible in private markets. Investors in iLEVEL include Blackstone (BX), The Carlyle Group (CG), Duff & Phelps, Hamilton Lane, Swift River Investments, and Egis Capital Partners. For more information, visit www.ilevelsolutions.com.

Contact:
iLEVEL

Lauren Weiner

Director of Marketing, +1-646-747-9817


lweiner@ilevelsolutions.com

Link – 

HgCapital Selects iLEVEL for Portfolio Monitoring

Willis Tower sold for $1.3 billion to Blackstone Group

Blackstone Group, a private equity real estate investor with about $81 billion under management, has reached an agreement to buy Chicago’s iconic Willis Tower, the company announced Monday.

The purchase price is $1.3 billion, according to a source.

The deal for the formerly named Sears Tower, said to have been reached over the weekend, would be the highest price ever paid for a U.S. office tower outside of New York. It would also shatter the Chicago record, $850 million, set by last year’s sale of 300 N. LaSalle.

“We are bullish on Chicago as companies expand within and move into the city and look for first-class office space,” Jacob Werner, a managing director in Blackstone’s real estate group, said in a statement. “Moreover, we see great potential in further improving both the building’s retail operations and the tourist experience for one of the most popular destinations for visitors to Chicago.”

The Wall Street Journal, which first reported the agreement on MarketWatch, said Blackstone plans to invest heavily in the retail portion of the nation’s second-tallest building and in upgrading its 103rd-floor Skydeck, in hopes the deck will become a cash cow like those of other skyscrapers.

Jonathan Gray, Blackstone’s head of real estate, told MarketWatch that the company hopes “to really make this more of a comprehensive tourist attraction” as well as an office building.

The Skydeck is among the tower’s regular revenue streams. It reaped about $25 million in admissions revenue in 2014, an amount that has been climbing annually. Its broadcast antennas brought in more than $13 million in the 12 months ended in November.

The Tribune reported Friday that Blackstone was in talks to buy Willis Tower and has previously reported that commercial real estate broker Eastdil Secured, which is handling the Willis Tower sale, was not marketing the property because of ongoing negotiations with a potential buyer.

Blackstone is best known in Chicago for buying a portfolio of properties assembled by Chicago real estate mogul Sam Zell. Blackstone’s purchase of Equity Office Properties Trust for $39 billion in 2007 was the largest private equity deal in history, according to The New York Times.

Real estate magnate Joseph Chetrit, developer Joseph Moinian and Skokie-based American Landmark Properties bought the tower for $840 million in 2004, a record then. Last year, 300 N. LaSalle sold for $850 million.

Eastdil had advertised untapped revenue streams for Willis’ new owners, including selling naming rights to the Skydeck and building a hotel on the property’s southwest corner at South Wacker Drive and West Jackson Boulevard.

The tower, completed in 1973 as the Sears Tower, is 84 percent leased, down 1 percentage point from March 2009, when Willis announced it had acquired naming rights.

Blackstone’s real estate business was formed in 1991. Among its holdings is the Hilton hotel chain. The firm’s seventh real estate fund will own Willis Tower.

mmharris@tribpub.com

Twitter @chiconfidential

Copyright © 2015, Chicago Tribune

Original article: 

Willis Tower sold for $1.3 billion to Blackstone Group

iLEVEL Releases Private Capital Data Platform 7.0

NEW YORK–(BUSINESS WIRE)–

iLEVEL, the leading portfolio monitoring, analytics and transparency platform for the global private capital markets, announces today the release of iLEVEL 7.0.

This latest release to the iLEVEL cloud-based, SaaS platform includes significantly improved design and usability, along with dramatic functionality enhancements across all asset classes and firm types. Together, these improvements make iLEVEL 7.0 the premier solution for any private capital firm or investor wanting to control their data, and realize the results.

“We’ve been blown away by the positive reaction of our clients to iLEVEL 7.0. It represents a quantum leap forward in user experience, flexibility and functionality, and dramatically extends and enhances our ability to add value throughout the private capital ecosystem,” said Kevin Black, CEO of iLEVEL. “For investment firms and their limited partners – across all private asset classes – nothing else comes close.”

New and enhanced features include:

  • Portal and iPad app redesign. A new navigation and analytics system enables users to easily access portfolio-level, asset-level, and fund-level reports, as well as company- or industry-specific KPIs and analytics.
  • Enhanced data visualization. New display options for data presentations enable users to choose from document lists, Google Maps™, and waterfall charts. Presentations can be printed or saved as images and used to enrich reports.
  • Data validation tools. New business rules and exception reports minimize the risk of invalid data entering the system even further, and facilitate the data approval process (e.g., restatement notifications, etc.).
  • Integrated Document Library. Data cited within a specific report or presentation can now be tied directly to the source document in the iLEVEL Document Library or displayed directly on the portal.

“iLEVEL has continued to evolve the platform over the years, and the newly redesigned portal continues to push the envelope of what’s possible,” said Bill Murphy, Senior Managing Director and Chief Technology Officer at The Blackstone Group. “The latest enhancements will enable us to identify and report on trends with even greater visual flexibility and detail.”

The number of firms on iLEVEL has doubled in the past year and includes alternative investment firms of varying sizes that employ a wide range of investment strategies including Private Equity, Real Estate, Credit and Venture Capital. GP clients use iLEVEL to track over 11,500 assets while leading LPs track over 62,000 assets across more than 7,000 fund investments. In aggregate, iLEVEL users track over 1 billion data points across their investment portfolios.

About iLEVEL

iLEVEL is the leading portfolio monitoring, analytics and transparency platform for the global private capital markets. iLEVEL’s SaaS, cloud-based platform empowers fund managers and investors to harness their data and gain insights and transparency never before possible in private markets. Investors in iLEVEL include Blackstone (BX), The Carlyle Group (CG), Duff & Phelps, Hamilton Lane, Swift River Investments, and Egis Capital Partners. For more information, visit www.ilevelsolutions.com.

Contact:
iLEVEL

Lauren Weiner, +1-646-747-9817

Director of Marketing


lweiner@ilevelsolutions.com

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iLEVEL Releases Private Capital Data Platform 7.0

Chicago’s Tallest Building Breaks Record With $1.5B Agreement



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Willis Tower, Chicago’s tallest building, is about to break another record. When the world’s largest private equity real estate owner, Blackstone Group, pays $1.5 billion for the 110-story Windy City icon, it will shatter the $850 million record price tag for Chicago set in 2014 with the sale of a nearby 60-story tower across the river.

Blackstone, the New York-based firm, has had its representatives visiting Willis Tower to perform due diligence, Crain’s Chicago Business reported on Friday.

The purchase is significant, even for a firm with $81 billion of real estate assets under its management, according to Crain’s report. Real Capital Analytics, a New York-based research firm, says it would be the 24th office deal in the U.S. to surpass the $1 billion mark, but only the fourth outside of the Big Apple. The 1,451-foot-tall property, formerly known as the Sears Tower, earns about $10,000 of income every hour.

At its projected sale price, Willis Tower is almost $400 per square foot for 3.8 million square feet of office space. For New York investors Joseph Chetrit and Joseph Moinian and the Illinois-based American Landmark Properties, who purchased the tower for $840 million in 2004, there is a hefty profit to be made on the agreement with Blackstone, Crain’s reports.

Willis Tower, which completed construction in 1973, doesn’t command the rent prices of newer Chicago buildings. Only 84 percent of it is leased, and a new owner would need to spend money to attack new leasers to the empty spaces. Also, because the building is more than 40 years old, maintenance and modernization will require significant capital.

The observation deck on the 103rd floor provides a steady cash flow, in addition to retail and restaurant space, broadcast space and antennas, and building naming rights managed by Willis Group Holdings, a building tenant. Skydeck, the building’s popular tourist attraction, generates more than $25 million in revenue annually, according to Crain’s report. Total building operating income for 2015 is estimated at $88.6 million – that breaks down to $48.7 million for office, retail and restaurant space, $11.1 million from broadcasting, and the revenues from the Skydeck.

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Chicago’s Tallest Building Breaks Record With $1.5B Agreement

Hilton Worldwide Acquires the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek

ORLANDO, Fla.–(BUSINESS WIRE)–

Hilton Worldwide has acquired the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek from a consortium including affiliates of GEM Realty Capital, Farallon Capital Management and Blackstone. The closing follows an announcement last week that Hilton Worldwide signed agreements to acquire the two hotels.

Opened in October 2009, the 498-room Waldorf Astoria Orlando and 1,000-room Hilton Orlando Bonnet Creek together form a 482-acre resort that is surrounded by a private nature preserve and is conveniently located on three sides by Walt Disney World®. The resort features a 3-acre Florida-style lazy river pool, Rees Jones-designed championship golf course, Waldorf Astoria Spa, fitness center and nearly a dozen dining and lounge options, including the Hilton Orlando Bonnet Creek’s award-winning La Luce® and Waldorf Astoria Orlando’s signature restaurant, Bull and Bear®.

“These two properties are a great addition to our portfolio of owned assets and a testament to the power of strong partnerships, teamwork, vision and devotion,” said Christopher J. Nassetta, President and CEO, Hilton Worldwide. “The previous ownership has played a pivotal role in the success of the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek, and we will continue to build on their legacy of providing guests with outstanding experiences.”

“GEM has had a longstanding relationship with Hilton Worldwide through both GEM Realty Securities and GEM Realty Properties,” said Norman Geller, Senior Managing Partner of GEM Realty Capital. “Over more than a decade, we have worked with Hilton Worldwide’s exceptional management team, and we are thrilled that Hilton Worldwide will own and continue to manage this world-class resort.”

The Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek have achieved a number of firsts and extensive awards. The Waldorf Astoria Orlando was the first newly built Waldorf Astoria property since the original Waldorf was opened on the same day 82 years before. Since then, the properties have received 62 “best” awards including Conde Nest Traveler Gold List, Travel & Leisure World’s Best, US News & World Report on Travel, Trip Advisor Certificate of Excellence and Hilton’s own Connie Award.

The property’s ownership entities have worked closely together and focused on ensuring the hotel team had the tools they needed to maintain the highest standards. “Built during difficult global economic times, ownership persevered and continued the commitment to stay on course, delivering on time and on budget,” said Peter Kacheris, managing director of the resort. “They always responded to the ever-changing needs of our customers by reinvesting into the property.”

“We are gratified by this result,” said Rocky Fried, Managing Member at Farallon. “This is an excellent outcome for our investors, with credit to our patient approach and collaborative work with our partners at GEM and Blackstone as well as the management team at Hilton Worldwide.”

About Hilton Worldwide

Hilton Worldwide (HLT) is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. For 95 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. The company’s portfolio of twelve world-class global brands is comprised of more than 4,300 managed, franchised, owned and leased hotels and timeshare properties, with more than 715,000 rooms in 94 countries and territories, including Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio – A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®. Visit news.hiltonworldwide.com for more information and connect with Hilton Worldwide at http://www.facebook.com/hiltonworldwide, www.twitter.com/hiltonworldwide, www.youtube.com/hiltonworldwide, http://www.flickr.com/hiltonworldwide, and www.linkedin.com/company/hilton-worldwide.

About GEM Realty Capital

Founded in 1994, GEM Realty Capital, Inc. (GEM) is a Chicago-based real estate investment company that invests in private-market real estate assets and publicly-traded real estate securities through two lines of business, GEM Realty Properties and GEM Realty Securities. GEM has approximately $4 billion of assets under management on behalf of pension plans, endowments, foundations, financial institutions and private clients. GEM is currently investing capital for its fifth discretionary private real estate fund, GEM Realty Fund V, L.P.

About Farallon Capital Management

Farallon Capital Management, L.L.C. is a global institutional asset management firm founded in 1986. Farallon manages approximately $19.5 billion for institutions, including college endowments, charitable foundations and pension plans, and for high net worth individuals. Farallon employs approximately 180 employees. Farallon is headquartered in San Francisco and has offices in London, Singapore, Hong Kong, Tokyo and Sao Paulo. Farallon is currently investing capital for Farallon Real Estate Partners, which targets income-producing office, multifamily, retail and industrial properties. More information about Farallon may be found at www.faralloncapital.com.

Contact:

Lisa Cole

Hilton Worldwide

+1 305 866 3646


lisa.cole@hilton.com

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Hilton Worldwide Acquires the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek

At Davos, it's not all about money

Read MoreBold-facers to talk crises at Davos

“It is a combination of networking, understanding the scope of views with respect to markets and the economy, and some out-of-the-box idea generation,” explained the manager of a multibillion dollar firm who is avoiding media interviews.

“Going to Davos helps generate investment ideas and manage risk by giving attendees a better understanding of the global dynamics driving markets,” added a handler for one of the prominent hedge fund managers in attendance but who is not speaking.

Of course, selling funds to the many huge institutions in Davos also factors in. There are chief investment officers from sovereign wealth funds, public pensions, insurance companies, charitable foundations and more floating around, potentially looking to allocate billions of dollars to so-called “alternative” investment funds.

At least one firm is hosting a formal event. Hedge fund investor SkyBridge Capital is putting on its annual “Wine Forum” tasting this week at the Hotel Europe’s Piano Bar, a popular Davos after-hours hangout. The event is both for client purposes and charity; this year proceeds will go to the Andrea Bocelli Foundation, whose namesake sang at Davos on Tuesday.

Speaking on stage can also help brand managers as astute economic thinkers.

Dalio, for example, will participate on a panel Thursday on the looming end to U.S.-style quantitative easing, “Ending the Experiment.” Singer will be part of a debate Wednesday on whether markets are “mispricing” geopolitical risks. And Rubenstein will talk Wednesday on the “New Growth Context” in the global economy.

Others speaking include George Soros of Soros Fund Management (now a family office) on Europe; Anthony Scaramucci of SkyBridge on economic volatility; Kenneth Hersh of NGP Energy Capital Management on fossil fuels; and Colin Teichholtz of Pine River Capital Management on shadow banking.

But the majority of managers in Davos aren’t speaking, many opting to keep a lower profile.

Hedge fund managers at WEF include Dan Loeb of Third Point, Kyle Bass of Hayman Capital Management, Frank Brosens of Taconic Capital, Alan Howard of Brevan Howard Investment Products, Andreas Halvorsen of Viking Global Investors, Mitch Julis and Josh Friedman of Canyon Partners, Andrew Law of Caxton Associates, Michael Martino of Mason Capital Management, Eric Mindich of Eton Park Capital Management, and David Harding of Winton Capital Management, according to WEF materials.

Private equity investors include Stephen Pagliuca of Bain Capital, Scott Kapnick of Highbridge Capital Management, Mitch Truwit of Apax Partners and Tom Speechley of Abraaj Group.

See more here: 

At Davos, it's not all about money

At Davos, it's not all about money

Read MoreBold-facers to talk crises at Davos

“It is a combination of networking, understanding the scope of views with respect to markets and the economy, and some out-of-the-box idea generation,” explained the manager of a multibillion dollar firm who is avoiding media interviews.

“Going to Davos helps generate investment ideas and manage risk by giving attendees a better understanding of the global dynamics driving markets,” added a handler for one of the prominent hedge fund managers in attendance but who is not speaking.

Of course, selling funds to the many huge institutions in Davos also factors in. There are chief investment officers from sovereign wealth funds, public pensions, insurance companies, charitable foundations and more floating around, potentially looking to allocate billions of dollars to so-called “alternative” investment funds.

At least one firm is hosting a formal event. Hedge fund investor SkyBridge Capital is putting on its annual “Wine Forum” tasting this week at the Hotel Europe’s Piano Bar, a popular Davos after-hours hangout. The event is both for client purposes and charity; this year proceeds will go to the Andrea Bocelli Foundation, whose namesake sang at Davos on Tuesday.

Speaking on stage can also help brand managers as astute economic thinkers.

Dalio, for example, will participate on a panel Thursday on the looming end to U.S.-style quantitative easing, “Ending the Experiment.” Singer will be part of a debate Wednesday on whether markets are “mispricing” geopolitical risks. And Rubenstein will talk Wednesday on the “New Growth Context” in the global economy.

Others speaking include George Soros of Soros Fund Management (now a family office) on Europe; Anthony Scaramucci of SkyBridge on economic volatility; Kenneth Hersh of NGP Energy Capital Management on fossil fuels; and Colin Teichholtz of Pine River Capital Management on shadow banking.

But the majority of managers in Davos aren’t speaking, many opting to keep a lower profile.

Hedge fund managers at WEF include Dan Loeb of Third Point, Kyle Bass of Hayman Capital Management, Frank Brosens of Taconic Capital, Alan Howard of Brevan Howard Investment Products, Andreas Halvorsen of Viking Global Investors, Mitch Julis and Josh Friedman of Canyon Partners, Andrew Law of Caxton Associates, Michael Martino of Mason Capital Management, Eric Mindich of Eton Park Capital Management, and David Harding of Winton Capital Management, according to WEF materials.

Private equity investors include Stephen Pagliuca of Bain Capital, Scott Kapnick of Highbridge Capital Management, Mitch Truwit of Apax Partners and Tom Speechley of Abraaj Group.

View the original here – 

At Davos, it's not all about money

Construction Almost Finished on Germantown Condo Community

Construction Almost Finished on Germantown Condo Community

River Lane Holdings, LLC is almost finished with their new community, The Glen at Blackstone Creek Condominiums

Germantown, WI (PRWEB) November 02, 2014

Germantown, WI River Lane Holdings, LLC is nearing completion on their new Southeastern Wisconsin condo community, The Glen at Blackstone Creek Condominiums. Construction will soon be wrapping up and these Germantown condos are available for move in between now and spring of 2015.

The Glen at Blackstone Creek Condominiums has already garnered a lot of attention, and any interested buyers need to act soon to claim one of the units. This condo community offers both detached and side-by-side units, creating a neighborhood carefree lifestyle. Each unit has its own entrance and private outdoor area, whether a patio, deck, or both. Each home will also have its own private entrance with driveway and garage.

These condos are being built with a ranch style floor plan, offering open living areas, gourmet kitchens, and basements in some units. They are customizable condos, provided buyers act fast and claim their new home early in the construction process. Design options are available for owners to choose from, along with flooring, cabinetry, and countertop personalization. One of the amenities that has brought about the most attention is the maintenance crew, meaning that residents will get the luxury of owning a home, but without having to worry about shoveling snow or maintaining the landscaping around the home.

The Glen at Blackstone Creek Condominiums is located in Germantown, a few miles from Highway 41/45. The sales center can be found at N114 W17844 Blackstone Court, and is open from 11 AM – 4 PM Wednesdays, Sundays, and by appointment. Contact Bailey Copeland for more information at 262-893-1720.


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Construction Almost Finished on Germantown Condo Community

First Reserve Selects iLEVEL to Monitor Portfolio

NEW YORK–(BUSINESS WIRE)–

iLEVEL, the cloud-based software provider to the private capital market, announced today that First Reserve has selected the iLEVEL Private Capital Data Platform to streamline their portfolio data collection process, and to manage the performance data of their large and diverse portfolio of energy assets. First Reserve is the largest global private equity and infrastructure investment firm exclusively focused on energy, with operations spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services, and infrastructure.

“We have been in the market for a long time for a system that could handle our complex and vast portfolio of energy-related companies. Our investment process relies on numerous data points, so we need portfolio information in a single reliable platform which allows us to focus on investing and not on organizing our data,” said Jennifer Zarrilli, Managing Director and CFO of First Reserve. “As we continue to pursue investment opportunities throughout the energy value chain, we expect iLEVEL to streamline our internal process and ultimately result in an optimized process for our investors.”

General Partners on iLEVEL track portfolio performance data, including financial and operating metrics, and company-specific indicators in a single, centralized repository. This single source of the truth enables a higher level of performance reporting and increases the efficiency of both investment decisions and operations in a diverse, active portfolio like First Reserve’s.

“First Reserve is an extremely prominent energy investment firm, and their selection of iLEVEL further validates the platform’s suitability across industry groups and for funds of all sizes,” said Kevin Black, CEO of iLEVEL. “The year 2014 has been one of rapid growth across different types of private capital clients for iLEVEL, and we are excited to have First Reserve as one of those new clients.”

The number of firms on iLEVEL has doubled in the past year and includes alternative investment firms of varying sizes that employ a wide range of investment strategies including Real Estate, Credit and Venture Capital. Leading LPs and Funds of Funds are also adopting iLEVEL. 4,000 iLEVEL users span the globe, tracking over 700 million data points across 7,000 portfolio companies.

About First Reserve

First Reserve is the largest global private equity and infrastructure investment firm exclusively focused on energy. With over 30 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised more than USD $30 billion of aggregate capital since inception. First Reserve has completed more than 475 transactions (including platform investments and add-on acquisitions), and its portfolio companies have significant operations on six continents. These operations span the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services and infrastructure. First Reserve has offices in Greenwich, CT; Houston, TX; London, U.K. and Hong Kong. Please visit www.firstreserve.com for more information.

About iLEVEL

iLEVEL offers a market-leading cloud-based Private Capital Data Platform that empowers fund managers and investors to control information and gain actionable insights by taking data collection, investment analysis and performance reporting to a whole new level. Investors in iLEVEL include Blackstone (BX), The Carlyle Group (CG), Duff & Phelps, Hamilton Lane, Swift River Investments, and Egis Capital Partners. For more information, visit www.ilevelsolutions.com.

Contact:

View this article – 

First Reserve Selects iLEVEL to Monitor Portfolio

EU mergers and takeovers (Sept 23)

BRUSSELS, Sept 23 (Reuters) – The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— Private equity firms KKR & Co LP and Riverstone Holdings LLC to form an oil and natural gas joint venture Trinity River Energy LLC (approved Sept. 19)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 24

— Hungarian oil and gas group MOL to acquire Italian company Eni’s Czech, Slovak and Romanian units (notified Aug. 20/deadline Sept. 24)

SEPT 29

— German publisher Postdam and German postal services provider PostCon Deutschland to acquire joint control of post services company Advo (notified Aug. 25/deadline Sept. 29/simplified)

— Restructuring specialist Droege International Group to acquire German bookseller Weltbild (notified Aug. 25/deadline Sept. 29/simplified)

— German consumer goods company Henkel to acquire French household cleaner maker Spotless (notified Aug. 25/deadline Sept. 29)

— Chinese grain trader COFCO Corp to buy a majority stake in Dutch trader Nidera (notified Aug. 25/deadline Sept. 29/simplified)

SEPT 30

— U.S. agricultural commodities company Archer Daniel Midland Co to buy Swiss-based food flavours and specialty ingredients company Wild Flavors (notified Aug. 26/deadline Sept. 30/simplified)

OCT 2

— French food group Danone and ID Logistics to form a joint venture (notified Aug. 28/deadline Oct. 2/simplified)

OCT 3

— U.S. fruit firm Chiquita Brands and Irish rival Fyffes to merge (notified Aug. 14/deadline extended to Oct. 3 from Sept. 19 after the companies offered commitments)

— U.S. social network Facebook to buy mobile messaging startup WhatsApp (notified Aug. 29/deadline Oct. 3)

— U.S. drugmaker Eli Lilly to acquire Swiss peer Novartis’s animal health business (notified Aug. 29/deadline Oct. 3)

— U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified Aug. 29/deadline Oct. 3)

— China’s Huayu Automotive Systems and German car parts maker KSPG Ag to set up a joint venture (notified Aug. 29/deadline Oct. 3/simplified)

OCT 6

— U.S. private equity firm Warburg Pincus to acquire joint control of custody services company Santander Securities, which is part of Spanish bank Banco Santander (notified Sept. 1/deadline Oct. 6/simplified)

OCT 7

— Swiss insurer Helvetia to acquire Nationale Suisse (notified Sept. 2/deadline Oct. 7/simplified)

OCT 8

— Private equity firm the Blackstone Group to aquire life insurer Lombard (notified Sept. 3/deadline Oct. 8/simplified)

OCT 9

— The Ortner Group and Strauss, which is a subsidiary of Austrian construction company PORR, to jointly acquired Austrian property developer UBM (notified Sept. 4/deadline Oct. 9/simplified)

— Areva Energies Renouvelables and Gamesa Energia to set up a joint venture (notified SEpt. 4/deadline Oct. 9/simplified)

— U.S. film and TV company 21st Century Fox and private investment firm Apollo Management to acquire joint control of a joint venture (notified Sept. 4/deadline Oct. 9)

— Dubai’s Dnata, part of the Emirates Group, to buy Britain’s Stella Travel Services UK Ltd, which is jointly owned by private equity firm CVC Capital Partners and Swiss bank UBS AG (notified Sept. 4/Oct. 9/simplified)

OCT 13

— U.S. household appliances maker Whirlpool to buy a 60 percent stake in Italian peer Indesit (notified Sept. 8/deadline Oct. 13)

OCT 14

— Petrochemicals group Ineos to buy BASF’s 50 percent stake in German plastics maker Styrolution (notified Sept. 9/deadline Oct. 14/simplified)

OCT 15

— Private equity firm Advent International to buy aluminium producer Corialis (notified Sept. 10/deadline Oct. 15/simplified)

OCT 16

— U.S. drugmaker AbbVie to acquire Irish peer Shire Plc (notified Sept. 11/deadline Oct. 16)

— U.S. aluminium group Alcoa to buy parts aerospace company Firth Rixson from private equity firm Oak Hill Capital Partners (notified Sept. 11/deadline Oct. 16)

OCT 17

— Private equity firm EQT Infrastructure and Spanish building manager Onmomutua to acquire joint control of Spanish car operator Acvil, which is now solely controlled by EQT (notified Sept. 12/deadline Oct. 17/simplified)

OCT 20

— Japan’s Mitsubishi Heavy Industries and German engineering group Siemens to set up a joint venture (notified Sept. 15/deadline Oct. 20)

OCT 23

— OFI InfraVia, GDF Suez and PensionDanmark Holding to acquire joint control of gas pipeline operator Noordgastransport B.V. (notified Sept. 18/deadline Oct. 23/simplified)

— French insurer Axa and British property developer Hammerson plc to acquire joint control of a British property portfolio which is now jointly owned by Hammerson and Land Securities Group plc (notified Sept. 18/deadline Oct. 23/simplified)

NOV 3

— U.S. cable company Liberty Global to acquire Dutch peer Ziggo (notified March 14/deadline extended to Nov. 3 after Liberty Global provided further details of concessions)

FEB 3

— Belgian telecoms group Telenet to acquire 50 percent stake in Belgian broadcasting company De Vijver Media (notified Aug. 18/deadline extended to Feb. 5 from Sept. 22 after the European Commission opened an in-depth probe)

GUIDE TO EU MERGER PROCESS

DEADLINES:

The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that by 10 working days to 35 working days, to consider either a company’s proposed remedies or an EU member state’s request to handle the case.

Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.

SIMPLIFIED:

Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified — that is, ordinary first-stage reviews — until they are approved.

(Editing by Foo Yun Chee)

Original article:

EU mergers and takeovers (Sept 23)