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Blackstone raises $22bn in new direct lending fund. (FS)
Aeromexico sells $1.1bn of bonds to refinance debt.
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A consortium led by Stephan Crétier and HPS Investment Partners, LLC , and including Oak Hill Advisors, L.P. and OneIM, agreed to acquire a majority stake in GardaWorld , a Canadian private security firm, from BC Partners , a global private equity firm, at CAD13.5bn ($9.7bn) valuation.
“In an increasingly complex world, I have discovered that prominent organizations aspire to partner with a vetted entrepreneurial success story. GardaWorld is more than one entrepreneur. It is a group of truly aligned like-minded leaders committed to doing what is best for clients, employees and stakeholders. I am humbled by the professionalism and dedication of my international group of colleagues and the unique DNA we have developed. This is what I call a winning team. We have come a long way since our modest beginnings when I started this company with a CAD25k-second mortgage on my home almost 30 years ago," Stephan Crétier, GardaWorld Founder, Chairman, President and CEO.
GardaWorld is advised by Langlois Avocats ?(led by Pierre-Hubert Séguin) and Simpson Thacher & Bartlett LLP (led by Sebastian Tiller and Ryerson Symons). HPS is advised by Latham & Watkins ?(led by Stelios Saffos ) and Stikeman Elliott LLP . BC Partners is advised by Kirkland & Ellis (led by Adam Clifford ).
SBA Communications , a real estate investment trust, agreed to acquire a portfolio of approximately 7k towers in Guatemala, Honduras, Panama, El Salvador and Nicaragua from Millicom (Tigo) , a provider of fixed and mobile telecommunications services in Latin America, for $975m.
"We are happy to join Millicom in announcing this transaction, which significantly enhances the longstanding relationship enjoyed between our companies. As a result of this transaction and the strength of our existing portfolio, SBA Communications will be the leading tower company across all of Central America and we are excited to support Millicom as a leading mobile network operator in advancing their network goals and enhancing connectivity throughout the region," Brendan Cavanagh, SBA Communications President and CEO.
SBA Communications is advised by 高盛 and Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Michael Vogel and Sal Gogliormella ). Millicom is advised by J.P. 摩根 , Lazard and Winston & Strawn LLP .
Enterprise Products Partners, a provider of midstream energy services to producers and consumers of natural gas, completed the acquisition of Pi?on Midstream LLC , a gas company, from Black Bay Energy Capital, a private equity firm, for $950m.?
“Congratulations to the Enterprise team on a smooth and successful transaction. We were pleased to have acquired an approximate 19% ownership interest in the parent company of Pi?on in connection with our recent Ameredev acquisition that closed in September 2024. We look forward to working with Enterprise going forward as we develop our assets in southern Lea County, New Mexico. We plan to use the approximate $113m in sales proceeds to pay down our $980m in current outstanding borrowings under our $2.25bn credit facility,” Joseph Wm. Foran, Matador?Founder, Chairman and CEO.
Pi?on Midstream was advised by Piper Sandler and Kirkland & Ellis (led by Alec Manzer and Bill Benitez ). Enterprise Products was advised by Locke Lord LLP ?(led by Joe Perillo , Rachel Fitzgerald and Terry Radney ) and Sidley Austin LLP (led by Corey Roush ).
Blackstone raises $22bn in new direct lending fund. (FS)
Blackstone amassed about $22bn of capital, including anticipated leverage, for a new direct lending fund targeting institutional investors,?Bloomberg?reported.
The structure of the fund is essentially a hybrid between drawdown funds, where investors agree to lock up capital for a certain number of years, and traditional evergreen funds, which have no set maturity but let investors buy in and out periodically. The fund is focused on lending in large-cap and middle-market transactions.
Aeromexico sells $1.1bn of bonds to refinance debt.
Airline holding company Grupo Aeromexico sold $1.1bn of bonds via international markets that the air carrier will use to refinance debt due in the coming years.
Aeromexico issued $500m of five-year notes and $610m of seven-year securities. Proceeds will be used in part to pay down $663m in senior secured notes due in 2027, Bloomberg reported.?
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