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Blackstone eyes private credit expansion. (FS)
Middle East's Hades Financial raises $1.6bn for crossover fund. (FS)
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KKR , an American global investment company, and Dragoneer Investment Group , an investment firm, agreed to acquire Instructure , an educational technology company, for $4.8bn.
"Given its unique positioning at the center of academic life, Instructure has a distinct opportunity to be a true end-to-end partner to students, teachers and administrators. Instructure has evolved into an expansive platform focused on delivering strong student outcomes under Thoma Bravo's stewardship. We look forward to working with Steve and the Instructure management team to accelerate growth and continue scaling its global portfolio of products," Webster Chua, KKR Partner.
Instructure is advised by J.P. 摩根 , 麦格理集团 and Kirkland & Ellis . KKR is advised by Moelis & Company , 摩根士丹利 , 瑞银集团 ?and Simpson Thacher & Bartlett LLP .
Standard General L.P. -backed The Queen Casino & Entertainment Inc. , a company operating casinos and gaming points, agreed to merge with Bally's Interactive , a gambling, betting, and interactive entertainment company, in a $4.6bn deal.
"Our team is well positioned to continue to execute on our initiatives to drive growth across all our segments including in our International Interactive business, North America Interactive and our Casinos & Resorts ("C&R") segments, while proceeding with our development pipeline, including construction of our permanent casino resort in Chicago, for which we recently announced a comprehensive financing plan. The addition of four complementary properties through this merger to our existing 15 domestic casino properties will add further geographic and market diversity to our portfolio. With QC&E's development pipeline recently completed or already well underway, we see a path toward additional revenue and EBITDAR growth and value accretion as those projects are completed in 2025. We look forward to bringing our ultimate vision to bear and to working closely with the Standard General team to execute on that vision," Robeson Reeves, Bally's CEO.
The Queen Casino & Entertainment is advised by Citizens M&A Advisory , Fried Frank , and Richards, Layton & Finger . Bally's is advised by 麦格理集团 , Nixon Peabody LLP , Potter Anderson , Sullivan & Cromwell LLP , and JCIR (led by Joseph Jaffoni ).
Helmerich & Payne , a petroleum contract drilling company engaged in oil and gas well drilling and related services, agreed to acquire KCA Deutag , a provider of drilling and engineering contractor services with a focus on onshore and offshore worldwide, for $1.97bn.
"This announcement represents a significant milestone in the strategic transformation journey of KCA Deutag and delivers benefits to all stakeholders: our employees, customers, shareholders and the communities where we live and work. We look forward to joining H&P, combining the strengths of our people together with our geographical footprint, to create an organization with an unrivalled global network, service capability and technology offering. The size, scale and financial strength of the combined organization will provide a stable foundation for long-term growth and diversification to safeguard a sustainable and prosperous future for our people. With similar customer-centric cultures, focused on safety and delivering incident-free, quality services and innovative technology, we will leverage H&Ps operational processes and practices to accelerate efficiencies and optimize operational excellence for our customers. Once completed, this transaction is expected to deliver multiple growth opportunities for our people and customers while facilitating value realization for our investors," Joseph Elkhoury, KCA Deutag CEO.
Helmerich & Payne is advised by 摩根士丹利 , Kirkland & Ellis (led by Sean T. Wheeler , Debbie Yee , Camille Walker Meissner , and Stuart Boyd ), Joele Frank , and Veriten . KCA Deutag is advised by Moelis & Company , PJT Partners , and A&O Shearman .
Blackstone eyes private credit expansion. (FS)
Blackstone is intensifying its focus on international credit opportunities, and is aiming to grow its portfolio to include a wider range of debt, including local-currency investments.
Blackstone is targeting the private investment-grade credit market, which includes asset-backed financing beyond corporate debt, and is estimated to be worth between $25tn and $50tn. “We see substantial growth potential in Europe and Asia. Our goal is to ensure we achieve the same scale and diversity globally as we have in the US,” Gilles Dellaert, Blackstone Global Head of Credit and Insurance.
Middle East's Hades Financial raises $1.6bn for crossover fund. (FS)
Hades Financial Private Capital Group Holdings (HFPCG) , a global asset manager headquartered in Riyadh, has closed a crossover fund at $1.6bn as it looks to invest in North America, Europe, and the APAC markets, DealStreetAsia reported.
"We are thrilled to announce the closing of the fund, and it is a significant milestone for HFPCG. We believe that our expertise in both private and public markets will ensure that HFPCG remains at the forefront of investment opportunities across multiple sectors," Feroz Al Fakeih, HFPCG Co-CEO.
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