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EQT seeks more time to close €20bn flagship fund. (FS)
Brookfield increased loan to Compass ahead of $5.5bn buyout. (FS)
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Brookfield, a global alternative asset manager, offered to acquire the remaining stake in American Equity Investment Life, an issuer of fixed index annuities, for $4.3bn.
"The Board will carefully review Brookfield Reinsurance's proposal in accordance with its fiduciary duties and in consultation with its independent financial and legal advisors. American Equity will have no further comment on the proposal until the Board has completed its review. It is important to note that there is no guarantee that an agreement will be reached or on what terms," American Equity.
American Equity is advised by Ardea Partners, JP Morgan, Sullivan & Cromwell and FGS Global (led by?Robin Weinberg ?and?Jared Levy ).
Chow Tai Fook Enterprises, a conglomerate with holdings in the jewellery, property development, hotel, department store, offered to acquire a 97% stake in NWS for $4.53bn.?
New World Development is set to bag as much as $2.78bn from the sale of a construction subsidiary to its major shareholder, in a buyout deal that would help it cut debt and pay a special dividend.
Chow Tai is advised by BOCI Asia, HSBC and ING Bank.
Thomson Reuters, a global content and technology company, agreed to acquire Casetext, a provider of technology for legal professionals, for $650m.
"The acquisition of Casetext is another step in our 'build, partner and buy' strategy to bring generative AI solutions to our customers. We believe that Casetext will accelerate and expand our market potential for these offerings - revolutionizing the way professionals work, and the work they do," Steve Hasker, Thomson Reuters President and CEO.
EQT seeks more time to close €20bn flagship fund. (FS)
EQT is seeking more time to close its next flagship buyout fund, amid a difficult fundraising environment for private equity firms,?Bloomberg ?reported.
The Swedish investment firm is planning to extend the deadline for closing the fund from August to February 2024. It has so far raised about €18bn ($19.6bn) for the vehicle, which has a target of €20bn ($21.8bn) and a hard cap of €21.5bn ($23.4bn).
Brookfield increased loan to Compass ahead of $5.5bn buyout. (FS)
A unit of Brookfield Asset Management raised the size of a credit facility to Compass Datacenters shortly before Brookfield and other investors struck a deal to buy control of the Dallas-based company,?Bloomberg ?reported.
Brookfield-managed infrastructure debt funds approved a $400m increase to the facility in early June, taking it to $1.1bn. Then, on June 20, Brookfield Infrastructure Partners announced it had?joined forces with Ontario Teachers’ Pension Plan to acquire the company , which operates data centers in the US, Italy and Canada.
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