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Brixmor Property Group, Blackstone Group LP's neighborhood shopping center business, on Monday said it named Michael Pappagallo, the former chief operating officer of rival Kimco Realty Corp, as its president and chief financial officer, potentially setting the company up for an initial public offering. The position will become effective May 20. Pappagallo, who also served as the chief financial officer at Kimco, will play an integral role in executing Brixmor's long-term business and capital markets strategies, the company said in a statement. In addition, he will lead the company's finance and accounting teams, and have some oversight of its property operations, information technology, acquisitions, dispositions and investor relations efforts. The public market currently values these types of shopping centers, which are typically anchored by grocers, 15 percent higher than the private markets, Green Street Advisors analyst Cedrik Lachance said. "The odds of

From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy. Families, some of whom made their money from the consumer sector, have deep pockets and are looking to secure their wealth for future generations. They are willing to wait longer for returns, giving them the edge over private equity funds looking for a quick turnaround.   Joh A Benckiser (JAB), the investment vehicle of the German billionaire Reimann family, bid for Douwe Egberts coffee last month, creating a hot drinks empire to take on the market leaders Nestle and Mondelez International, a goal that may take some time. "Part of the reason for traditional private equity firms not being involved in the D.E. Master Blenders transaction was that the multiples were too high to make the returns work," said Magnus Scadden , Head of EMEA Consumer and Retail at Houlihan Lokey, an investment bank. Family-fu

Betfair has terminated takeover discussions with CVC Capital Partners after the private equity firm said it would not make a revised offer for the online gambling company, it said in a statement on Tuesday. _0"> Betfair said it received a 950 pence per share offer in cash and shares valuing the company at 988 million pound ($1.52 billion) on 12 May which it rejected that evening, but indicated it would consider an improved proposal.   CVC had been given an extra 24 hours to commit a firm bid after a Monday deadline lapsed. Betfair stock, which was trading at 700 pence before CVC said on April 15 it was considering a bid, closed on Monday at 895 pence.

Betfair Group PLC : * Shares fall 5.1 percent after CVC says will not make offer for it _0">

Kenya-based private equity firm Catalyst said it had acquired a 50 percent stake in Ethiopian food and drink maker Yes Brands to tap into the Horn of Africa nation's large population and fast economic growth. _0"> Mauritius-registered Catalyst Principal Partners raised $125 million last year for its Catalyst Fund 1 to be invested in consumer growth-related opportunities in a region with some of the world's fastest growing economies.   Paul Kavuma, Catalyst's chief executive, said it would build on the strength of Yes Brands in mineral water bottling by investing in operational capacity and product distribution. The value of the deal was not disclosed due to confidentiality clauses in the agreement. Officials in Addis Ababa said last year they expected Ethiopia's economy to expand by 11 percent in the 2012/13 fiscal year. Catalyst is also looking to invest in east Africa's property market, Kavuma said last month. (Reporting by Duncan Miriri; Editin

Private equity firm CVC Capital Partners has ended a 1 billion pound ($1.5 billion) attempt to buy online betting exchange Betfair after the two companies failed to agree on price and strategy.   Betfair shares fell 3.5 percent to 864 pence on Tuesday after the company said it had rejected an improved 950 pence a share bid proposal from CVC, the largest shareholder in Formula One motor racing. The Betfair board had been reportedly seeking more than 10 pounds per share. The company, whose shares debuted in 2010 at 13 pounds, said attempts to negotiate a higher bid, after it rejected the proposal made on Sunday, foundered over strategy, without elaborating. The failure of talks which began last month will increase pressure on recently installed Betfair CEO Breon Corcoran to deliver on a plan to cut costs and pull back from markets such as Greece and Germany where regulatory risk is too high or tax rates punitive. "In our view, CVC were stretching the realms of realistically m

The asset management arm of private equity firm CVC Group plans to raise 300 million euros ($389 million) from investors by floating one of its credit funds. _0"> Asset manager CVC Credit Partners said in a statement on Tuesday it is to list CVC Credit Partners European Opportunities Limited, which invests in sub-investment grade debt markets, on the London Stock Exchange. A pullback by historic lenders such as banks from the loan market, combined with company refinancing needs, had created significant opportunities for credit managers to trade loans, the fund's chairman Richard Boleat said in the statement.   CVC Credit Partners was formed when CVC Cordatus Group and Apidos Capital Management combined last year. It has $8.5 billion in assets under management and its funds invest in sub-investment grade credit instruments including loans, bonds, subordinated debt and structured credit. CVC is among several private equity houses including U.S. firms Blackstone and Koh