• Apr 29, 2005

    Blackstone Confirms Distribution of Premcor Shares

    New York, April 29, 2005: Blackstone Capital Partners III today confirmed that it is effecting a distribution to its investors of all of the 19.1 million shares of Premcor common stock held by Blackstone and its affiliates.
  • Apr 25, 2005

    Valero to Acquire Premcor in $8 Billion Transaction

    OLD GREENWICH, Connecticut, April 25, 2005 – Valero Energy Corp. (NYSE: VLO) and Premcor Inc. (NYSE: PCO) announced today that the companies have executed a merger agreement for Valero to acquire Premcor in an $8 billion transaction. As a result, Valero will add four refineries and 790,000 barrels per day (BPD) of throughput capacity to its system, making it the largest refiner in North America.
  • Apr 18, 2005

    The Blackstone Group Completes Major Investment in Global Tower Partners

    NEW YORK, NY. – April 18, 2005 – Global Tower Partners (the “Company” or “GTP”) announced that affiliates of The Blackstone Group (“Blackstone”) have purchased a majority equity interest in GTP from Great Hill Partners.
  • Apr 12, 2005

    WinWholesale Announces Agreement to Acquire Noland Company

    DAYTON, Ohio, April 12 /PRNewswire/ – WinWholesale, one of the nation's largest industrial wholesale distributors, announced today that it has signed an agreement of merger with Noland Company (Nasdaq: NOLD - News), an industry-leading wholesale distributor of plumbing, electrical, HVAC, mechanical equipment and supplies. Under the terms of the agreement, which was unanimously approved by both companies' boards of directors and by a special committee of the board of directors of Noland Company, WinWholesale will pay $74.00 in cash for each Noland Company share. The acquisition, which is subject to certain conditions, is anticipated to close within 45 days. Shortly after the transaction closes, WinWholesale will take Noland Company private and it will be de-listed from the NASDAQ. WinWholesale expects combined 2005 revenues will exceed $2 billion.
  • Mar 31, 2005

    Blackstone Grows Distressed Debt Expertise

    New York; March 31, 2005: The Blackstone Group announced today the appointment of Jeremiah E. Keefe and Il J. Lee as Principals in the firm’s recently formed Distressed Debt group. The group, established at the end of last year, is headed by John Dionne, Senior Managing Director and Chief Investment Officer, who has many years of experience in the distressed debt sector.
  • Mar 30, 2005

    NDCHealth Board Votes to Consider Sale of the Company

    ATLANTA, March 30 /PRNewswire-FirstCall/ – NDCHealth Corporation (NYSE: NDC - News) today announced that its Board of Directors has voted to pursue the potential sale of the company. The decision follows the completion by the Board, acting with the assistance of The Blackstone Group L.P., of an evaluation of strategic alternatives with the objective of maximizing stockholder value over a reasonable period of time. The Blackstone Group and Goldman, Sachs & Co. will act as the company's financial advisors.
  • Mar 28, 2005

    Sungard Data Systems to be Acquired by Private Equity Group

    Wayne, PA and New York, NY - March 28, 2005 - SunGard (NYSE:SDS), a global leader in integrated software and processing solutions primarily for financial services and the pioneer and leading provider of information availability se together with a consortium of seven leading private equity investment firms, announced today the execution of a def agreement under which the consortium will acquire SunGard in a transaction valued at approximately $11.3 billion. T acquiring consortium was organized by Silver Lake Partners and includes Bain Capital, The Blackstone Group, Goldm Sachs Capital Partners, Kohlberg Kravis Roberts & Co. L.P., Providence Equity Partners and Texas Pacific Group.
  • Mar 28, 2005

    Katonah Capital Proposes Replacement Portfolio Manager for Funds

    NEW YORK – March 28, 2005 – Katonah Capital, L.L.C. announced today that it has sent proposals for replacement portfolio managers for the various Katonah Capital collateralized debt obligations (CDO) funds to JPMorgan Chase Bank, National Association (formerly known as JPMorgan Chase Bank), the funds’ trustee. Katonah Capital has proposed that Sankaty Advisors, LLC and certain of its key employees will become the replacement portfolio managers for Katonah II, Ltd., Katonah III, Ltd., and Katonah IV, Ltd. Katonah Capital has also proposed that the corporate debt group within Blackstone Debt Advisors L.P., an affiliate of Blackstone Group Holdings L.P., will act as replacement portfolio manager for Katonah I, Ltd. and Katonah VI, Ltd. Additionally, Katonah Capital has proposed INVESCO Senior Secured Management, Inc. as replacement portfolio manager for Katonah V, Ltd.
  • Mar 18, 2005

    Railpen Appoints New Hedge Fund Managers for £600 Million Portfolio

    Railpen, the industry-wide pension scheme for the UK rail industry, has appointed three investment managers to oversee its hedge fund programme. The three managers, all based in the USA, are appointed after extensive research and investigation by the in-house investment team at Railpen.
  • Mar 10, 2005

    Nordic Capital Acquires a Major Shareholding in Nycomed from DLJ Merchant Banking and Blackstone

    Nordic Capital Fund V has agreed to acquire a controlling interest in the European pharmaceutical company Nycomed from a group of investors led by DLJ Merchant Banking, part of CSFB’s Alternative Capital Division, and The Blackstone Group. In connection with the transaction, Nycomed is valued at € 1.8 billion.
  • Mar 02, 2005

    Hovnanian Enterprises Acquires Town & Country Homes

    RED BANK, NJ, March 2, 2005 – Hovnanian Enterprises, Inc. (NYSE: HOV) announced today that it has acquired the operations of Town & Country Homes, a privately held homebuilder and land developer headquartered in Lombard, Illinois, for an undisclosed purchase price, paid in cash. Hovnanian believes that this is the largest private homebuilder acquisition ever consummated. Concurrently, Hovnanian entered into a joint venture agreement with affiliates of Blackstone Real Estate Advisors in New York to own and develop Town & Country’s existing residential communities.
  • Mar 02, 2005

    France Telecom joins the Consortium formed by The Blackstone Group, CVC Capital Partners and Providence Equity Partners Inc. to Participate in the Tender Process for Cesky Telecom

    Paris, March 2 , 2005 - France Telecom and the consortium of The Blackstone Group, CVC Capital Partners and Providence Equity Partners Inc. have announced today that they will join forces to participate in the tender process of the National Property Fund (NPF) of the Czech Republic for the sale of its 51 per cent equity interest in Cesky Telecom.
  • Feb 24, 2005

    NDCHealth Board Retains The Blackstone Group to Help Evaluate Strategic Alternatives

    ATLANTA, Feb. 24 /PRNewswire-FirstCall/ – The Board of Directors of NDCHealth Corporation (NYSE: NDC) today announced that the independent directors of the Board have approved the engagement of The Blackstone Group L.P. to assist the Board in its evaluation of strategic alternatives with the objective of maximizing stockholder value over a reasonable period of time.
  • Feb 14, 2005

    Blackstone Alternative Expands Senior Investment Team

    New York; February 14, 2005: The Blackstone Group today announced that Blackstone Alternative Asset Management (BAAM) has expanded its senior investment team with the addition of Vineet Kapur as Managing Director. Mr. Kapur, who has been with Morgan Stanley since 1995, has held a variety of senior positions in prime brokerage, alternative investment management, and investment management. BAAM invests approximately $9 billion in select hedge fund managers through several multi-manager programs on behalf of institutional investors.
  • Feb 08, 2005

    Robert Krakoff and Blackstone to Pursue Opportunities in Business to Business Communications

    New York, NY, February 8, 2005 – Robert Krakoff, former Chairman and CEO of Advanstar, Inc. and former Vice Chairman of Reed Elsevier Inc., and The Blackstone Group announced today that they have entered into a formal collaboration to pursue investment opportunities in the business-to-business communications and media industry. The relationship between Krakoff, through his Blantyre Partners firm, and Blackstone combines Krakoff’s outstanding expertise in building and operating business-to-business media platforms with Blackstone’s successful track record as a leading media and communications investor. The capital for investments will be provided by Blackstone Capital Partners IV, a $6.5 billion fund and the largest institutional private equity fund ever raised, and Blackstone Communications Partners I, a $2.0 billion fund focused on investments in the media and communications industries.
  • Feb 03, 2005

    Bally Total Fitness Retains The Blackstone Group as Financial Advisor to Assist with Turnaround Strategy

    CHICAGO, February 3, 2005 – Chairman and CEO Paul Toback of Bally Total Fitness Holding Corporation (NYSE: BFT) today announced that the Company has retained The Blackstone Group, a leading financial advisor and investment bank, to assist in its turnaround strategy. Blackstone will work with the Company on evaluating and refining its business plan and developing a long-term financial strategy to improve the Company’s capital structure and maximize free cash flow, enabling Bally to focus its financial resources on its operations. Actions taken by the Company may also include the possible divestiture of non-core assets.
  • Feb 02, 2005

    Feldman Mall Properties Inc., Announces Acquisition of Colonie Center in Albany, New York

    February 2, 2005 – Great Neck, NY – Feldman Mall Properties, Inc. (NYSE: FMP), a real estate investment trust focused on the renovation and repositioning of retail shopping malls, today announced the acquisition of Colonie Center, a 1.2 million square foot mall in Albany, New York. The property was purchased on an all-cash basis for $82.2 million.
  • Feb 01, 2005

    The Mills Corporation To Acquire Portfolio of Two Regional Malls in Midwest

    Acquisition of Highly Productive Mall Portfolio with Redevelopment Opportunities Fits Growth Strategy Arlington, Va., (February 1, 2005) – The Mills Corporation (NYSE: MLS) announced today that it has entered into a merger agreement to purchase a portfolio of two regional shopping malls, Southdale Center in suburban Minneapolis, Minn., and Southridge Mall in suburban Milwaukee, Wis., and related development components from a joint venture comprised of Blackstone Real Estate Advisors affiliates and Polaris Capital. The total consideration is approximately $452 million before transaction costs.
  • Jan 04, 2005

    Conversent Communications and FiberNet Announce Merger

    January 4, 2005 (Marlborough, MA and Charleston, WV) – Conversent Communications, LLC and FiberNet, LLC, two of the nation’s leading facilities based Integrated Communications Providers (ICP), today announced their intent to merge in a stock transaction. Upon completion of the merger, the companies will serve 51,000 customers and employ more than eight hundred people in ten states throughout the Northeast and Mid-Atlantic regions.
  • Jan 03, 2005

    Vanguard Completes Acquisition of Three Massachusetts Hospitals From Tenet Healthcare

    NASHVILLE, Tenn. – January 3, 2005 – Vanguard Health Systems, Inc. (“Vanguard” or “Company”) announced today that on December 31, 2004, its subsidiaries completed the acquisition of three acute care hospitals and related health care businesses in Massachusetts from subsidiaries of Tenet Healthcare Corporation. The hospitals are 348-bed Saint Vincent Hospital at Worcester Medical Center in Worcester and 420-bed, two-campus MetroWest Medical Center, consisting of Leonard Morse Hospital in Natick and Framingham Union Hospital in Framingham. Vanguard’s purchase price for the assets acquired from the sellers was $100.3 million for the property, plant and equipment. In addition, Vanguard acquired from the sellers and will build from operations net working capital for the hospitals at a cost to it of approximately $26.4 million.