Private Equity
Here are some potential M&A ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. For prior lists, see below. Bachrach Acquisition LLC, a New York-based men's clothing company, was seeking a buyer for the company. The company is being advised by Clear Thinking Group LLC. L-1 Identity Solutions, Inc., a Stamford, Conn.-based supplier of identity solutions and services, retained Goldman Sachs & Co. and Stone Key Partners LLC as financial advisors to explore strategic alternatives. First Uranium, a Canadian mining company, continues to review strategic alternatives, and "has been engaged in negotiations with several potential strategic investors who have been invited to submit investment proposals," none of which has been acceptable so far, the company said. Liberty Media is evaluating strategic alternatives for Overture Films, a division of Liberty Starz. Intrawest Corp. of Canada, a unit of Fortress Investment Group LLC, was seeking a buyer for its Sandestin Golf and Beach Resort.
2 min read · 02 March 2010
Tricky TXU: The New York Times tackles KKR's TXU in a long story which opens with Henry Kravis negotiating with Jamie Dimon in 2007. Story ends with the phrase "debtholders are getting hosed." You get the drift. (NYT) Servicey: How to avoid getting burned in China and India. (BusinessWeek) Lehman's Desperate Housewives: There's a book out about what it was like "being married to Lehman." Deal Journal thinks it reminds him of Goodfellas. (DJ) Golden Era Rusting: We've been saying it for awhile-that whole bit about how PE firms are going to have amazing vintages in 2009 and this is the golden era for PE bargains is simply not the case. Prices just haven't come down low enough. (Bloomberg) However: The Credit Crunch is easing for private equity. (FT)
1 min read · 01 March 2010
Bain Capital may be the next mega-buyout firm to raise a renminbi-denominated private equity fund, in order to better facilitate Chinese transactions. Bain managing director Mark Nunnelly explained his firm is considering such a move "in the medium term," while speaking today at the Reuters Private Equity and Hedge Fund summit. When asked if the planning process was already underway, Nunnelly said, "I'd be very surprised if we were if we this conversation in 18 months from now and we are not actively managing an RMB fund." Most of Bain Capital's peers have already begun the raising an RMB fund or are preparing to do so. Blackstone Group said last week it had received three commitments for its RMB fund, including one from China's national pension fund, National Social Security Fund . Blackstone said the fund will be capped at around $730 million because of a Chinese law limiting fund size.
2 min read · 01 March 2010
In case you've been hibernating since Groundhog day, here’s a rundown of February’s 11 biggest private equity news stories. Get them after the jump...
4 min read · 01 March 2010
Here's a look at the last week's worth of scoops, data, and analysis from the peHUB team. Catch up on what you missed before it goes behind our paywall... All First Reads | All Second Opinions Reid Hoffman Explains Putting His Angel Days Behind Him Why VC Bloat is Bad for Everyone Yelp Gets Sued for "Extortion" Q&A on Navigation Capital's Smart Grid Roll-Up One (Tech Analyst) Parent on Google's Buzz and Keeping Her Kids Safe Online SecondMarket Goes Illiquid in Asia Are Bankers' "Bizarre" Choices Spoiling the IPO Market? Fundraising Updates: Snow Phipps, Baird, Northern Trust, Thayer Hidden Creek, Rockland, Maranon Mezz Processing Computer Science DAG Ventures Hits $500m Target Dumb Terminals, Redux Cell Phone Recycler Rings Up Some Cash Intel Announcement: Much Ado About Nothing Blackstone Q4 Earnings: "One Way or Another" PE Pro Turns to Banking Citibank Blocks Bank Account of Gay Social Network Tom Perkins Tells Off Washington (Today, for Some Reason)
2 min read · 27 February 2010
Romancing the Stone, On Wall Street. The curling stone, that is. (Dealbook) Media Crit: The Journal is getting more sensationalist every day. (Felix Salmon) Meet the New Pit Bull: A choir boy battles Wall Street. (BusinessWeek) The Secretive Steven Cohen: Bloomberg enters his inner circle with an incredibly long feature on the head of SAC Capital. (BW) Blackstone's Killer Whale: The Seaworld tragedy isn't good for its PE owners, either. (Crain's)
1 min read · 26 February 2010
2 min read · 26 February 2010
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies by Moody’s Investors Service Standard & Poor’s Ratings Services. Company: Rafaella Apparel Group Sponsor: Cerberus Capital Management LP Action: S&P lowered its corporate credit rating on Rafaella to 'CC' from 'CCC' and its issue-level rating on the senior secured notes to 'C' from 'CCC-'. Highlight: The company commenced a modified Dutch auction tender offer to purchase up to 51% of its outstanding 11.25% senior secured notes due 2011.
1 min read · 26 February 2010
3 min read · 26 February 2010
Breaking Up: Are VCs no longer brothers in arms? Palm Reading: Enthusiasm around the palm phone hasn't exactly translated into sales. (Reuters) That's a step down... Would Jon Corzine, the former CEO of Goldman Sachs and former New Jersey governor, really join CNBC? (HuffPo) Taking on the B-School Boys Club: Interest in business programs is growing at women's colleges. (BusinessWeek) How Tos: The art of the meet-and-greet. Tapping the "hidden job market" through informational interviews in the world of finance (FINS)
1 min read · 26 February 2010
