Key Points
Brookfields private equity division is in active discussions with Blackstone, the worlds largest alternative asset manager to buy into PGP Glass, formerly Piramal Glass...
The auction process -- that had earlier seen interests from a variety of PE marques like GIC of Singapore, PAG, Alpha Wave, Apollo Global Management among others in earlier rounds was initially for a minimum 50% stake in the company along with joint control as Blackstone the current owners of the company was looking to part sell and unlock value from their 3 year old investment, said people familiar with the matter...
Geographically, Asia-Pacific -- China, Japan, South Korea, and India -- continues to be the largest market for glass and glass products for the cosmetics and perfumery glass bottle markets with a 41% market revenue share in 2023, as per industry estimates..
Brookfield Private Equity recently elevated Anuj Ranjan, their former India head as the new chief executive officer of its private equity business that manages about $140 billion in assets globally as the Canadian firm wants to expand private equity vertical to the same scale as its other flagship businesses, like infrastructure and real estate...
The firm raised $12 billion for its largest PE fund in 2023 in the middle of a dislocated market and has since been revving up on dealmaking agreeing to mega buyouts like US annuity provider American Equity Investment Life Holding Co, Middle Eastern payments processor Network International Holdings..
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