Sponsors 3i, Allianz seek buyers for ferry operator Scandlines

British private equity firm 3i Group Plc (LON:III) and German peer Allianz Capital Partners GmbH have chosen Goldman Sachs Group Inc (NYSE:GS) and ING Groep NV (AMS:INGA) as advisors on a potential offload of ferry operator Scandlines, Bloomberg reported, citing people in the know.

The banks will also bankroll the proposed transaction, which may garner the attention of infrastructure funds, the insiders, who spoke on condition of anonymity as the discussions were not public, told Bloomberg. The target may have a value of some EUR1.4bn (USD1.8bn), according to the sources.

Scandlines and 3i, as well as the lenders, would not comment on a possible sale, when reached by the news agency, which also was not able to establish immediate contact with Allianz Capital Partners.

3i and Allianz Capital Partners each hold a 49% stake in Scandlines’ parent, Scandferries Group, while the remainder of the company is controlled by its management. The private equity firms, together with Deutsche Seereederei GmbH, bought into the ferry operator in 2007, with the three parties paying an aggregate EUR1.56bn to Deutsche Bahn AG and the Danish government for the takeover. The private investors purchased Deutsche Seereederei’s holding in 2010.

Scandlines has headquarters both in Copenhagen, Denmark and Rostock, Germany. The company served 11.5m passengers, 2.6m cars and 640,000 trucks on its three principal itineraries in 2011.

Allianz Capital Partners GmbH is the private equity arm of German financial group Allianz SE (FRA:ALV).

Carlyle-consortium mulls sale of Turkish hospital operator

US private equity giant Carlyle Group LP (NASDAQ:CG) and its investment partners in Medical Park Saglik Hizmetleri AS have retained the advisory services of Credit Suisse Group AG (NYSE:CS) and Goldman Sachs Group Inc (NYSE:GS) for a possible sale or flotation of the Turkish hospital operator.

Medical Park said that its owners may offload shares through a block sale or opt for an initial public offering as an exit route. The proceeds will go towards financing new projects, the Turkish company added.

Last month, Medical Park said it planned to invest USD300m (EUR238m) in the opening four hospitals within three years. Operating under the name Liv Hospital Group, the facilities will be located in Istanbul, Ankara and Izmir with the first one scheduled to open at the end of 2012. The Istanbul-headquartered company currently owns 16 hospitals and has a workforce of 10,000.

Carlyle became a shareholder in Medical Park three years ago, when it paid USD150m for a 40% interest. ┬áMedical Park’s chairman Muharrem Usta and local company Sancak AS each own 30% of the company.

Carlyle is currently among the shortlisted bidders for a minority interest in Penti Corap Sanayi & Ticaret AS, a Turkish hosiery and swimwear company. In January this year, Carlyle announced the purchase of a 48% stake in education services provider Bahcesehir Kolejleri. In 2008, the US group bought 50% of local shipbuilder TVK Gemi Yapim Sanayii AS.

Goldman Sachs to sell its hedge fund administration arm to State Street

Goldman Sachs Group Inc (NYSE:GS) is negotiating the sale of its hedge fund administration business to State Street Corp (NYSE:STT) and could strike an agreement by the end of June, according to a report today by the Financial Times.

The talks with State Street are nearing conclusion, after Goldman Sachs has been in contact with a number of interested parties over the last several months, informed people told the paper.

First reports on a potential sale of Goldman Sachs Fund Administration came out in April, but over the past few weeks State Street has stood out as the frontrunner in the race, the report said.

The business to be sold manages USD200bn (EUR158.2bn) of assets and the combination with investment manager State Street would create an entity with nearly USD700bn worth of funds under administration.

Goldman Sach’s business, with offices covering most big offshore centres, has a portfolio including over 500 hedge fund clients, with top players such as Och-Ziff and York Capital among them.

Goldman Sachs Fund Administration employes some 250 staff globally.

State Street’s fund administration business manages assets of almost USD500bn.

Its clients count among them mutual funds, collective investment funds, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers.

Goldman Sachs made no comment to the Financial Times.