4 min read · 25 November 2008
* Suffer a heart attack? It may be your lousy boss' fault. * Steven Pearlstein: The Citi bailout is steeped in irony. * From the Backed into a Corner Dep't: KKR has cut back its fund-raising expectations. * Collapsing oil prices have Candover over a barrel. * Morning call: Time for profit-taking? U.S. futures point lower, FTSE up a percentage point, European shares up at mid-day, Nikkei and Hong Kong both rise. * What does Sam Zell really think about the newspaper business?
1 min read · 25 November 2008
That line is from Ezra Perlman, a partner with Francisco Partners, during the closing panel of Buyouts West 2008, which was held last week in Los Angeles. At least the generalist panel remains, as they discussed everything from return expectations to when debt might return to how private equity is "misunderstood." Other panelists included: Kelvin Davis, senior partner with TPG Capital; Mark Bradley, Morgan Stanley's global head of financial sponsors for Financial Sponsors Coverage Group, Ajay Shah, managing director and founder of Silver Lake Sumeru and John Romney, director of Levine Leichtman Capital Partners. Video after the jump.
1 min read · 24 November 2008
What follows are ten VC deals culled from recent Regulation D filings with the SEC. They have not been otherwise disclosed: Cogentus Pharmaceuticals Inc., a Menlo Park, Calif.-based developer of antiplatelet therapies for cardiovascular disease, has secured $7.5 million of a $22.5 million Series C round, according to a regulatory filing. Listed backers include Keffi Group, Prospect Venture Partners and Ridgeback Capital. The company had previously raised over $62 million. www.cogentus.net KickApps, a New York-based developer of social networking tools for existing websites, has raised
2 min read · 24 November 2008
Last week we wrote that brand-name private equity firms had begun internal layoff discussions. Now it seems that some of those talks have evolved into action. Financial News is reporting that The Carlyle Group has decided to close its Central and Eastern Europe (CEE) operations, which means pink slips for ten staffers in a Warsaw office opened just last year. It also has killed off an Asia leveraged finance team formed just a few months earlier, which means seven more layoffs. Carlyle spokesman Chris Ullman this morning confirmed the cuts, which include CEE managing directors Ryszard Wojtkowski and Janusz Guy, and Asia leveraged finance chief Eric Mason. He emphasized, however, that the moves are
1 min read · 24 November 2008
teve Steinour is in early talks with The Blackstone Group to raise a fund
1 min read · 24 November 2008
1 min read · 21 November 2008
It’s tough times for older VC-backed drug companies, with a closed IPO market and dwindling cash reserves. But there is a small bit of good news today, which might encourage some existing shareholders to keep fishing instead of cutting bait. According to In Vivo Blog, the FDA appears poised to make 2008 the best year for new drug approvals since 2004. Twenty new molecules have gotten the a-ok so far, and eight more applications could be acted
1 min read · 21 November 2008
1 min read · 21 November 2008
1 min read · 20 November 2008
