In its latest assessment for the infrastructure in the US, the American Society of Civil Engineers' (ASCE) assessment had given the nation's roads, bridges, rail, drinking water, waste water, solid waste and others an aggregate almost flunking grade.
Finance/Venture
Citigroup Inc sells private equity unit to abide by Volcker Rule
To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.
Six firms place bids for Spain's rescued NCG Banco
Spain's bank restructuring fund FROB on Monday announced that it had received six binding offers for a majority stake in bailed-out bank NCG Banco. Banks and private equity firms from Spain, Venezuela and US reportedly eye the NCG stake.
Legg Mason Inc's Bill Miller to run mutual fund under family name
Citing a December 13 filing with the US Securities and Exchange Commission, Bloomberg reported that Legg Mason Inc's Bill Miller will be starting a mutual fund under his own name together with his son.
Atlas Holdings secures $900M for second private equity fund
Greenwich, Connecticut-based Atlas Holdings raised $900 million for the first and final close of its second private equity fund known as Atlas Capital Resources II.
Latest News
In the European Central Bank's launch of a new 10 euro note, the Euro Zone's central bank launched an online competition wherein top-scoring players get the chance to win exclusive prizes for playing a Tetris-like game that unlocks information about the new note's security features.
Crowdtilt, a San Francisco, California-based crowdfunding platform, secured $23 million for its Series B funding in a round led by Andreessen Horowitz and was participated by venture capitalists and angel investors.
A report on VentureBeat explained why the country of Ireland is not an attractive investment only for its low corporate tax rate, which many US tech companies with offices in the region had taken advantage.
Glasgow, Scotland-based growth equity and venture capital firm Scottish Equity Partners (SEP) said it will boost its total portfolio investment from £40 million last year to £60 million this year.
US insurer AIG said it will be selling International Lease Finance Corp to Netherlands-based AerCap Holdings for $5 billion, Bloomberg reported. The deal will be for cash and shares.
PA Group, the parent company of UK's national news agency Press Association, is to sell its weather unit MeteoGroup to private equity group General Atlantic in a deal valued at £160 million (€190 million).
The Wall Street Journal reported more employers are offering loans to their workers from non-bank lenders. There are currently 100,000 employees who can avail of employer-based loan programs, but that number is set to increase in the coming years, said the Journal.
Power Assets Holdings Ltd. will spin off its subsidiary Hongkong Electric Company Ltd. to HK Electric Investments, a single-investment trust. Power Assets was said to be aiming for a HK Electric Investments listing early next year to raise $5.7 billion.
Gottex Fund Management Holdings on Monday announced that it is purchasing Swiss hedge fund EIM Group for $35.4 million in stocks. EIM shareholders will own 30% of the merged group, while Gottex owners will own the remaining 70% stake in the company.
