• Nov 20, 2001

    AXIS Specialty Limited Begins Operations with over $1.6 Billion in Capital

    Pembroke, Bermuda, November 20, 2001 – AXIS Specialty Limited announced today that it has raised more than $1.6 billion through a private placement of its equity securities and has been authorized in Bermuda under The Insurance Act of 1978 to underwrite specialty lines of insurance and reinsurance. Axis Specialty, a global insurance and reinsurance company, was formed in response to a significant market dislocation following the World Trade Center disaster. The founding investor in AXIS Specialty is Trident II, L.P., a private equity fund managed by MMC Capital. Other lead investors include private equity funds managed by JPMorgan Partners, Thomas H. Lee Partners, The Blackstone Group and Credit Suisse First Boston.
  • Nov 20, 2001

    Security Capital Sells Homestead Village to Blackstone Affiliate for $740 Million

    CHICAGO, Nov 20, 2001 /PRNewswire via COMTEX/--Security Capital Group Incorporated (NYSE: SCZ) announced today that it has sold Homestead Village, its extended-stay lodging company, to an affiliate of Blackstone Real Estate Advisors for a total value of $740 million. The consideration received in the transaction includes $480 million in cash, the assumption of $145 million of liabilities, and the issuance to Security Capital of a five-year $115 million note. The note carries an initial coupon of 12% that increases by 100 basis points annually. Net cash proceeds from the transaction, excluding the five-year note and after transaction costs, are expected to be approximately $462 million.
  • Oct 30, 2001

    Blackstone Alternative Asset Management Increases European Presence

    New York; October 30, 2001: The Blackstone Group today announced that Blackstone Alternative Asset Management (BAAM) has established a physical presence in Europe with the hiring of Nicola Marie Meaden as Managing Director and Valerie Benard as Director. Ms. Meaden and Ms. Benard will serve BAAM’s European institutional investor clientele and assist in BAAM’s efforts to identify alternative investment managers.
  • Oct 29, 2001

    LIFFE Board Recommends Euronext Deal to Its Shareholders

    LONDON, Monday, 29 October, 2001 -- The Board of the London International Financial Futures and Options Exchange (LIFFE) announces that it will be unanimously recommending to its shareholders that they accept an offer of £18.25 per share from Euronext. The highlights of the offer and the proposed combination of LIFFE and Euronext include:
  • Oct 22, 2001

    The Blackstone Group and Its Employees Donate $1 Million to September 11th Relief Funds

    New York: October 22nd, 2001: The Blackstone Group, a private investment bank with offices in New York and London, together with its 400-plus employees through a matching donations scheme, has contributed a total of $1 million to a variety of funds that provide relief to those people impacted by the September 11th terrorist attacks.
  • Sep 27, 2001

    Premcor Inc., Files Registration Statement for Initial Public Offering

    ST. LOUIS, September 27, 2001---Premcor Inc. announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission in connection with a proposed initial public offering of a new issue of its common stock.
  • Aug 29, 2001

    Airgate PCS to Combine with iPCS for $900 million to Create the Premier Sprint PCS Network Partner

    ATLANTA and SCHAUMBURG, IL (August 29, 2001) – AirGate PCS, Inc. (Nasdaq/NM: PCSA), a Sprint PCS Network Partner serving the Southeast, and iPCS, Inc., a privately held Sprint PCS Network Partner serving the Midwest, today announced that their Boards of Directors have unanimously approved an agreement under which AirGate and iPCS will combine in a tax-free, stock for stock transaction for 13.5 million shares of AirGate common stock, which includes 1.1 million shares reserved for issuance upon the exercise of outstanding iPCS options and warrants. Based on AirGate’s closing stock price of $59.47 on August 28, 2001, the transaction has an equity value of $803 million. AirGate will also assume approximately $97 million of iPCS net debt.
  • Aug 16, 2001

    American Axle & Manufacturing Prices Follow-On Offering

    Detroit, Michigan, August 16, 2001 -- American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) (AAM) announced that yesterday, after the markets closed, it priced a follow-on offering of 3,000,000 shares of common stock by AAM and 4,500,000 shares of common stock by Blackstone Capital Partners II Merchant Banking Fund L.P. at a price of $20.50 per share, before underwriting discounts and commissions. The underwriters have an option to purchase an additional 1,125,000 shares to cover over-allotments.
  • May 15, 2001

    CalPERS Taps Blackstone Alternative Asset Management as Advisor to $1 Billion Hedge Fund Program

    SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) has selected Blackstone Alternative Asset Management (BAAM) as the strategic advisor for the pension fund’s $1 billion hedge fund program. New York-based BAAM, a business unit of the Blackstone Group, was selected from a pool of 24 firms that responded to CalPERS search. Under the hedge fund program, BAMM’s responsibilities will include working with CalPERS staff to:
  • Apr 02, 2001

    Republic Technologies International Announces Plans to Reorganize Under Chapter 11

    FAIRLAWN, Ohio – April 2, 2001 – Republic Technologies International, LLC, the nation’s largest producer of special bar quality steel, today announced that it has filed to reorganize under Chapter 11 of the Bankruptcy Code. Republic filed a voluntary petition today in the U.S. Bankruptcy Court in Akron, Ohio.
  • Mar 06, 2001

    Blackstone Signs Up Citigroup Hedge Fund Director

    New York; March 06, 2001: The Blackstone Group has selected Stephen W. Sullens, a former Director with Citigroup’s hedge fund investment center, to join Blackstone Alternative Asset Management Group (BAAM) as Vice President within its investment team. BAAM is one of the world’s leading fund-of-funds with over $2 billion under management investing in select hedge fund managers.
  • Mar 06, 2001

    Xerox to Sell Half of Fuji Xerox Stake to Fujifilm for More Than $1.3 Billion

    STAMFORD, Conn., March 6, 2001 – Xerox (NYSE: XRX) has agreed to sell half of its stake in Fuji Xerox Co. Ltd. to Fuji Photo Film Co., Ltd. for 160 billion Yen in cash, more than $1.3 billion based on recent exchange rates. The transaction brings to nearly $2 billion the amount Xerox has raised in asset dispositions since December, representing a critical milestone in the company’s turnaround plan.
  • Feb 01, 2001

    Blackstone Continues Implementation of Marriott Portfolio Strategy

    BETHESDA, MD; February 1, 2001 — Host Marriott Corporation and The Blackstone Group reported today that Blackstone Real Estate Partners has converted [15,000,000] operating partnership units into common shares, which were sold in a block transaction. These units represented approximately one third of Blackstone’s total investment in Host Marriott OP, which was obtained in connection with Host Marriott’s purchase of the Blackstone luxury hotel portfolio in 1998.
  • Jan 30, 2001

    ABN Amro Adds to North American Wholesale Clients Operation

    Amsterdam, 30 January 2001 ABN AMRO announces that it has reached agreement with ING Group to purchase the prime brokerage, corporate finance, domestic equities, and futures and options businesses of ING Barings in North America. The acquisition will enable ABN AMRO’s Wholesale Clients business to further strengthen the service it offers its chosen clients worldwide and to accelerate its plans for the North American market.
  • Jan 12, 2001

    Collins & Aikman Announces Heartland Investment and Fourth Quarter Update

    TROY, Mich.--(AutomotiveWire)--Jan. 12, 2001--Collins & Aikman Corporation (NYSE:CKC) announced today that Heartland Industrial Partners, L.P. (Heartland) has agreed to purchase 25 million newly issued primary shares from the Company at a price of $5.00 per share, representing a cash investment in the Company, before fees and expenses, of $125 million. The purchase price also gives the Company a profit participation right of up to $.25 per share on certain future stock sales by Heartland.