Cerberus Capital Management LP is seeking more than $3 billion for its latest flagship private equity fund to invest in distressed assets such as non-performing loans and ailing companies that need to be restructured, people familiar with the matter said.
Funding
Podcast platform Acast raises $5 million from Bonnier Growth Media
Swedish podcasting platform Acast has raised $5 million from Sweden's Bonnier Growth Media as it targets further expansion in Europe and the United States, it said in a statement on Monday.
Startup NerdWallet raises $64 million in first round of funding
NerdWallet said it had raised $64 million in its first round of funding, far more cash than it needs to run the personal finance startup, in part to underscore its growth and show it has the potential to one day be valued at over $1 billion.
Russian tycoon to fund restoration of ancient Roman basilica
Russian tycoon, Alisher Usmanov, is to finance the restoration of one of ancient Rome's biggest public buildings, topping up the funding that Italy urgently needs to prop up its crumbling monuments after three years of recession.
Spotify nears deal to raise $400 mln, valuing it at $8.4 billion: WSJ
Spotify AB is nearing a deal to raise $400 million, valuing the music streaming service provider at $8.4 billion, the Wall Street Journal reported, citing people familiar with the matter.
Latest News
William Shakespeare's Globe theaters is taking on a new role as a financial trail-blazer by seeking to tap into a form of funding dominated to date by social enterprises and charities.
The International Monetary Fund has granted Guinea, Liberia and Sierra Leone debt relief of about $100 million in total, the first time a global institution has provided such relief to the three West African nations hardest hit by the Ebola outbreak.
International donors pledged $7.5 billion on Tuesday to immunize 300 million children in poor countries against deadly diseases such as diarrhea and pneumonia.
Worldwide child deaths will be halved over the next 15 years, polio, guinea worm and river blindness will be eradicated, and there will be a single-dose cure for malaria.
Space Exploration Technologies (SpaceX), founded by Elon Musk, said it has raised about $1 billion in a financing round with two new investors, Google Inc and Fidelity.
China's Xiaomi Inc [XTC.UL], one of the world's fastest-growing smartphone makers, has raised $1.1 billion in a round of funding that cements its status as one of the world's most valuable private technology companies at a valuation of $45 billion.
Afghanistan does not have enough money to pay salaries this month and has asked aid donors for a bailout before the end of the year, the treasury chief told Reuters on Thursday.
Uber is in talks to sell more than $1 billion in convertible debt, a source familiar with the matter said, soon after the U.S. taxi service said it raised $1.2 billion in its latest funding round.
An Italian white truffle, reportedly the largest in the world, will be sold at an in-house and online auction in New York on Saturday where bidding is expected to start at $50,000 and could go much higher, Sotheby's said on Thursday.
