Bain Capital related stories
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- With HCA IPO, Bain, KKR and BAML Could Triple Their Money--On Paper, Anyway
Who wins with the HCA IPO? The PE firms do, that’s who. Hospital operator HCA is expected to go public early next month (we're hearing the pricing happens on March 9) and the offering represents a boon to its investors. HCA, in case anyone has forgotten, was acquired by an investor group-- comprised of Bain, KKR, Merrill Lynch Global Private Equity (now BAML Capital Partners), and affiliates of HCA founder Dr. Thomas Frist—in November 2006 for about $33 billion. The buyers invested $5.3 billion equity http://www.sec.gov/Archives/edgar/data/860730/000095014406009545/g02699ddefm14a.htm in the deal, according SEC filings.
- PE-backed Dunkin’ Donuts Enters India
Dunkin’ Donuts, which is owned by the buyout shops Carlyle Group, Bain Capital and Thomas H. Lee Partners, is partnering with Indian fast-food operator Jubilant Foodworks to launch its chain in India, Reuters reported. The chain aims to tap into the fast-food sector in India, which is growing at between 25% and 30% per year, Reuters said. Dunkin' has more than 9,700 restaurants in 31 countries.
- PE-Backed HCA Sets Terms for $3.7B I.P.O.
Hospital operator HCA, which is owned by investors including buyout shops Bain Capital and Kohlberg Kravis Roberts & Co., has set terms for an initial public offering, Reuters reported. The company plans to raise $3.7 billion, selling 124 million shares priced between $27 and $30, Reuters said. HCA owns and operates more than 160 hospitals in the United States and England, and was taken private in a $21 billion deal in late 2006.
- Bain Capital Drops Out Of PE Growth Capital Council
Bain Capital, one of the original members of the Private Equity Growth Capital Council, has not renewed its membership for 2011, the council confirmed for peHub. The firm no longer appears on the member list http://www.pegcc.org/about/members/ on the PEGCC website. The departure marks a blow to the annual revenue stream of the council, which has been active of late in Washington D.C. in fights against raising taxes on carried interest and in improving the industry’s image. However, membership has also been growing since the council opened its doors to smaller buyout shops early last year, mitigating the loss. Neither Bain Capital nor the council would comment on the annual dues that the firm has paid (nor would executives at Bain Capital comment on anything related to this story). However, that Bain Capital and its affiliates have an estimated $65 billion under management suggests the firm was paying as much as $750,000 per year, based on information supplied by PEGCC to sister magazine Buyouts in early 2010—see dues levels below.
- Ropes & Gray Adds Kiran Sharma to PE Practice
Law firm Ropes & Gray has added Kiran Sharma as a partner in the firm’s London private equity practice. Sharma joins from DLA Piper, where she was a partner in the corporate group. She worked previously as a senior associate at Allen & Overy.