Bloomberg News reports that private equity is on track for a record year of fees paid to Wall Street. LBO firms paid investment banks $8.4 billion during the first half of 2007, putting the buyout industry on pace to exceed 2006's $12.8 billion. If the current pace continues -- and that's a big if given the financing challenges they have been facing -- LBO firms would pay $16.8 billion to Wall Street by the end of 2007, a 31% increase over 2006.

Who's paying the fees? Here are the top four:

• Blackstone Group LP (NYSE: BX): $685.4 million
• KKR: $334.8 million
• Apollo Management: $407.5 million
• CVC Capital Partners Ltd.: $309.1 million

Continue reading Private equity lays a bigger golden egg on Wall Street

Private equity lays a bigger golden egg on Wall Street originally appeared on BloggingStocks on Thu, 12 Jul 2007 10:27:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Carl Icahn has predicted that the private equity market has peaked at the Wall Street Journal's Deal and Deal Makers Conference, reported the Wall Street Journal.
• Imperial Tobacco Group plc (NYSE: ITY) and CVC Capital Partners, a private equity firm, are both looking at Altadis, the leading maker of cigarettes in Spain and France, with a final price of over $17B expected, reported the Wall Street Journal.

• Ford Motor Company (NYSE: F) is set to launch a new national incentive program today featuring no-interest financing for 36 months on all 2007 Ford, Lincoln and Mercury vehicles, signalling pressure for the company to sell vehicles, reported the Detroit Free Press.
• Bear Stearns Companies Inc (NYSE: BSC) has appointed Tom Marano, a leading executive and highly regarded mortgage-bond trader, to oversee the bailout of its hedge fund collapse, reported the New York Post.
• Bharti and Wal-Mart Stores Inc (NYSE: WMT) appear to be close to finally sealing a partnership, reported the Economic Times.

Newspaper wrap-up 6-28-07: Ford launching incentive program originally appeared on BloggingStocks on Thu, 28 Jun 2007 09:15:00 EST. Please see our terms for use of feeds.