May 2003
Investment Dealers' Digest;5/5/2003, Vol. 69 Issue 18, p20
Trade Publication
The news of Saudi Binladin Group, a 5 billion dollar per year construction conglomerate founded by the late father of terrorist ringleader Osama bin Laden, being a limited partner in funds managed by San Francisco-based private equity firm Fremont Partners was reported by the 'New Yorker.' Fremont is a former subsidiary of global construction and engineering company Bechtel, which was recently awarded a 600 million dollar-plus contract for reconstruction in of Iraqi infrastructure by the U.S.The private equity backers of luxury hotel chain Le Meridien hove been forced to write off their investment as the campany faltered under the weight of its debts.A consortium led by Great Britain-based private equity firm BC Partners cnme up with the winning bid in the battle for control of Deutsche Bank's TeleColumbus cable W business, fending off competition from Apax Partners and Goldman Sachs, among others. Tabular information about private equity fundraising as of April 30, 2003 is presented. The article also presents information about the U.S. fundraising for the first quarter of 2003.


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