Monday, Aug 25, 2008
Paragoing......
FT: TPG drops move for Paragon
TPG Capital, the US private equity group, has dropped out of the bid process for Paragon, the troubled buy-to-let lender, just weeks after it pulled out of a £179m rescue of Bradford & Bingley, the UK's biggest lender to property landlords.
Posted by whostolemyendowment @ 10:04 AM (312 views) Add Comment
3 Comments
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1. bystander said...
"TPG's decision not to progress comes as property market conditions continue to deteriorate and with landlords more pessimistic about rents than at any point in the past 18 months, according to research by the Royal Institution of Chartered Surveyors."
........but, but, but we have been bombarded by headlines telling us yeilds are going to go up th 7%, rents rising at fastest pace for ages, those who cannot or won't sell for reasonable prices tempted to become landlords because of all of the above etc. etc. etc. Who to believe?????????
2. mark wadsworth said...
What happened to the 'Texas Pacific Group to invest in Taylor Wimpey' story?
3. drewster said...
I thought most of these private equity deals ultimately depended on bank funding? Where are TPG getting the cash from, and do those investors know how far (Para-)gone the UK housing market is?