NEW YORK: Blackstone Group LP, Carlyle Group LP, Onex Corp and Canada Pension Plan Investment Board have joined forces in a bid to acquire aluminum products maker Arconic Inc, according to sources.
Such alliances, referred to as “club deals” in the private equity industry, lost much of their allure following the 2008 financial crisis, as some high-profile leveraged buyouts either ended up in bankruptcy or underperformed financially.
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