Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The TCW Sale is Almost Done Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 22, 2013

The TCW Sale is Almost Done

News summary by MFWire's editors

There’s a lot going on at TCW [profile] now that the deal is almost done.

P&I reports that now the deal with Carlyle is pretty much completed, there are number of things to square away now, including the resolution of a hefty chunk of debt.

The paper reports that in the last six weeks alone, the firm acquired one alternatives investment manager, formed a partnership with a second and announced the hiring of new senior officials. At the same time, some other top employees and an investment team have left.

Moreover, the biggest change should be coming in a matter of days: completion of Societe Generale SA's $780 million sale of TCW to The Carlyle Group and TCW employees. P&I reports that the leveraged buyout, announced in August and scheduled to close on Jan. 31, is based on the premise that TCW will be able to handle doubling its debt load by bringing in more investment fees as it builds assets under management.

For instance, a December report from Standard & Poor's Corp., New York, said TCW expects to take on $355 million in new debt after it pays off $152 million in existing obligations.

Read more in P&I.  

Edited by: Tommy Fernandez


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use