Deals

The Los Angeles-based fund, tied to basketball legend Magic Johnson, will partner with a developer to build a 266-unit project as part of an urban revitalization in the city’s Southeast quadrant.

The Virginia-based firm has agreed to buy limited-service operator Jameson Inns for $371m, gaining a bigger foothold in the hotel sector in the Southeast and Midwest.

Travel and real-estate company Cendant announced plans to sell its travel distribution services subsidiary Travelport—which includes its Orbitz and CheapTickets businesses—to The Blackstone Group for about $4.3bn in cash.

Brentwood Associates will sell the consumer-product company to Carlyle after a hotly contested auction.

Shares of KKR Private Equity Investors, listed on the Euronext Amsterdam exchange, closed today at $22.39 per share, down nearly 9 percent since the vehicle went public on May 3.

Standard Chartered Private Equity has invested HK$370 million in a Chinese real estate development company, its second investment in a mainland China property in less than two months.

The US and UK-based investor has paid £571m for 290 managed pubs from Punch Taverns, its largest deal in Europe to date.

European mezzanine provider Intermediate Capital Group also put a record amount of capital to work in the fourteen months to 2005, arranging or providing £899m of debt financing.

Leisure parks in Europe attract customers from across the world. US and European private equity firms, it seems, are also along for the ride. By Robert Venes.

A new set of private equity valuation guidelines have been endorsed in the farthest corners of the world - but not in the US. By Judy Kuan.