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Why Large-Cap LBO Shops Shouldn’t Get Capital from Little InvestorsCarlyle Group boss David Rubenstein said, in the wake of his company's successful IPO, that he'd like to see smaller investors back PE funds through 401(k) investments. But they shouldn't--at least, not for private equity firms that are listed.
Reuters - 3i-Led Group Kicks Off Sale for LabcoA consortium led by private equity firm 3i has kicked off the sale process for its majority stake in French medical-diagnostics company Labco, Reuters reported Wednesday. Paris-based Labco, in which management and a group of laboratory doctors also own a stake, could fetch around 1 billion euros ($1.3 billion), which would see troubled 3i make a profit on its 2008 investment in the firm, the sources said. The consortium, which also includes investors TCR Capital, Natixis Investment Partners and CIC Finance, has hired Rothschild to handle the sale process which started this week.
- Bruce Rauner Says Public Sector Needs PE Pros
Bruce Rauner, an early partner with Chicago-based GTCR LLC, is widely believed to be weighing a bid http://www.suntimes.com/news/politics/6905395-418/investor-bruce-rauner-mulls-gop-gov-bid.html for governor of Illinois in 2014 on the Republican ticket. For years he's been deeply involved in public service in Chicago, most notably in helping to push education reform in 2011 and, recently, criticizing http://chicagoist.com/2012/09/20/emanuel_ally_continues_post-strike.php the Chicago Teachers Union over the recent strike there.
- BMC Software Weighs Sale
(Reuters) - BMC Software Inc is exploring a potential sale of the company and has retained Bank of America Merrill Lynch to assist with the strategic review, people familiar with the matter said on Monday.
- Goldman Waiting To Launch New Fund
Goldman Sachs’ 2007 fund is almost fully deployed, but the investment bank is waiting on regulation before it makes its next move. Richard Friedman, global head of merchant banking, sister Web site peHUB reported.
- Deal Appeal Of Card Processing May Be Fading
Card-payment processors, long a darling of the buyout business, may be losing their luster, market watchers tell Buyouts.
Audax Co-CEO Rehnert: Romney Speaks The Truth About the 47% And Has A Big HeartMitch Romney gets some love from Geoff Rehnert, the co-CEO of Audax Group, who helped Romney start Bain Capital in 1984. Rehnert tells peHUB that Romney said nothing untrue about the 47% and that he supports the presidential candidate.
- Goldman Waits on Regs to Make Next Move with $20B ’07 Fund Nearly Deployed
Goldman Sachs' 2007 fund is almost fully deployed, but the investment bank is waiting on regulation before it makes its next move. Richard Friedman, global head of merchant banking, had some returns figures to discuss this morning, as well.
- Reuters - Bain Nears Deal to Buy Apex Tool Group
Bain Capital is in final discussions to buy Apex Tool Group - a joint venture between Danaher Corp and Cooper Industries - for more than $1.5 billion, according to Reuters. Bain is expected to pay between $1.5 billion and $1.8 billion for the business, writes Reuters.