SWFI First Read, January 17, 2017


Carlyle Group to Become Largest Shareholder in Global Credit Ratings

The Carlyle Group is poised to acquire nearly half of the equity of Johannesburg-based Global Credit Ratings (GCR), making the private equity firm the largest shareholder in the company. GCR is a ratings agency focusing on Africa. The sellers are Deutsche Investitions und Entwicklungsgesellschaft (DEG) and management at GCR – both will remain investment in the company.

Reduce Need for Bags of Cash, Venezuela Issues New Bank Notes

In a bid to lower the weight of carrying around bags of cash to buy goods, Venezuelan President Nicolás Maduro mandated the government to issue new bank notes. These new bank notes were released on January 16, 2017 to replace the 100-bolívar bill. The old 100-bolívar bill will remain in circulation till February 20, 2017. The new notes released by the Central Bank of Venezuela are between 500 to 20,000 bolívars.

Elliott Management Encircles NRG Energy

Paul Singers’ Elliott Management Corporation and private equity firm Bluescape Energy Partners LLC combined forces to acquire a 9.4% ownership stake in NRG Energy Inc. Elliott Management has a 6.9% stake in NRG Energy. Bluescape Energy Partners was founded by John Wilder, the former CEO of TXU Corporation.

Oman-India Joint Investment Fund Launch Second Fund

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