Bain Capital related stories
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peHUB Wire: Wednesday, February 18, 2009Random Ramblings
- Bain Defers Fund Fees, Others Should Follow
This space hasn’t always been too kind toward Bain Capital, in regards to the extraordinary fees it charges its (submissive) limited partners. Today, however, we need to give some credit where it’s due. The Boston-based buyout firm is proposing an amendment to all of its active private equity funds, which would temporarily waive all of its quarterly management fees. Those funds would instead be available for follow-on investment in existing portfolio companies, with the fees to ultimately be paid back out of the fund’s gross profits (assuming there are some). This strategy won’t matter much for relatively-uncalled Bain funds – like its tenth general PE fund or its third European fund – but is a big deal for a vehicle like Bain Capital IX, which is around 98% invested. Rather than using that final $160 million for fee payments, Bain would use it to inject additional equity into select existing investments.
- peHUB Wire: Tuesday, February 17, 2009
Random Ramblings
- peHUB Wire: Tuesday, February 17, 2009
Random Ramblings
- Bain Capital Ventures Secures $475 Million
Bain Capital Ventures has held a $475 million first close on its fourth fund, according to VentureWire. A final close on between $500 million and $550 million in expected within the next six months. www.baincapitalventures.com
- peHUB Wire: Thursday, February 12, 2009
Introducing the peHUB Wire
- peHUB Wire: Thursday, February 12, 2009
Introducing the peHUB Wire
- PE Firm Mergers Are a Bad Idea. Here's Why:
Could the acquirers become the acquirees? I've heard rumblings of private equity consolidation for a few weeks now, stemming from research http://www.ft.com/cms/s/0/31f84b26-f08a-11dd-972c-0000779fd2ac,dwp_uuid=cf8c5ee0-aa15-11da-96ea-0000779e2340.html done by law firm Simmons & Simmons. The study found that 79% of 700 surveyed PE pros expect increased consolidation in 2009. I dismissed this as unlikely, but the topic continues to surface in conversations. There even are some trader rumors that Blackstone and KKR could acquire 3i http://www.telegraph.co.uk/finance/markets/marketreport/4529883/Blackstone-and-KKR-tipped-for-3i-merger-deal.html Would struggling buyout firms really merge with each other? At the very least, the image of PE pros nervously biting their nails in fear of a hostile takeover is ironic, since they're usually the ones inflicting such fear on public company employees. Either way, there are several issues with this idea, which I've laid out in a nice little list.