Warburg Pincus related stories
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Berkery's Shea Bullish on Information Sector MultiplesPrivate equity is hot, hot, hot for companies in the information sector. That's according to John Shea, COO of BerkeryNoyes, a New York investment bank which advises on and tracks deals in the information sector. Berkery targets the lower middle market, focusing on deals with a $25 million to $500 million enterprise value. What are information companies? Berkery defines them as a “marketplace of companies focused on the provision, management, or creation of data.” Or, more easily, all internet, media, and software businesses, Shea says.
- Protox Therapeutics Adds Rohm, Sobti to Board
Publicly traded Protox Therapeutics Inc. has added William Rohn and Amit Sobti to its board of directors. Rohn is a former chief operating officer for biotech company Biogen-Idec. Sobti is a principal with Warburg Pincus, where he focuses on investments in healthcare. He worked previously at Rhone Capital, a mid-market private equity firm.
- Oh, No! PE Firms May Lowball Citi for OneMain
Citi is finally getting some traction in its sale of OneMain Financial. Several PE firms are interested in the unit, which lends money to low-income borrowers. Blackstone, the Carlyle Group, WL Ross & Co., Thomas H. Lee and Brysam Group Partners are part of a large group that are pursuing a bid, according to The Wall Street Journalhttp://online.wsj.com/article/SB10001424052748703313304576132702772260720.html Warburg Pincus and J.C. Flowers & Co. are also exploring a deal separately, the story says.
- peHUB Second Opinion
Biggest Givers: Slate comes out with its list of top 60 philanthropists and Facebook's Mark Zuckerberg places No. 10 http://www.slate.com/id/2283782/ ♥ Nagler: Blackstone PR guy, who also runs CheeseheadTV.com, didn't go to Dallas http://dealbook.nytimes.com/2011/02/07/checking-in-with-wall-streets-cheesehead/ so he could watch the Super Bowl with his daughters. Awwww! Star Trek Tech: HP is introducing http://venturebeat.com/2011/02/07/hp-designs-a-cool-reclining-touchscreen-display-for-star-trek-style-experience/ a touchscreen computer that can recline at 60 degree angle and be used for different applications. Zucker: NBC tried to buy http://www.poynter.org/latest-news/top-stories/118266/zucker-nbc-tried-to-buy-huffington-post-for-18-months-couldnt-agree-on-price/ HuffPo for 18 months but could never agree on a price. Up For Sale: Big Lots hires Goldman http://www.bloomberg.com/news/2011-02-07/big-lots-is-said-to-explore-options-including-possible-sale-shares-jump.html to look at strategic options, including a sale.
- Sequella Adds John Friedman to its Board
Sequella Inc., a clinical-stage company focused drugs to treat infectious diseases, has added John Friedman as an independent director. Friedman is the founding and managing partner of Easton Capital Investment Group. He was previously a founder and managing general partner of Security Pacific Capital Investors, a $200-million private equity fund. Sequella is based in Rockville, Maryland.
- Bain Capital Buys Stake in Hero Honda
Private equity shop Bain Capital and the Government of Singapore Investment Corp. are close to buying a minority stake in Mumbai-based motorcycle maker Hero Honda, Reuters reported, citing an article in the Financial Times. The deal could be valued as high as $1.75 billion, Reuters said.
- Pine Brook Road Partners Promotes Gary Levin to VP
New York-based buyout shop Pine Brook Road Partners has promoted Gary Levin to the post of vice president. Levin joined the firm in 2006 as an associate, and has worked with portfolio companies including Asia Pacific Exploration Consolidated, Comet Ridge Resources and Stonegate Production Company. Levin previously worked at Warburg Pincus as a member of its energy group.
- Warburg’s Laredo Wraps $350M Private Placement
Laredo Petroleum, the Oklahoma-based oil and gas company in which PE firm Warburg Pincus invested in 2007, completed a sale of $350 million in senior unsecured notes. Bank of America Merrill Lynch, J.P. Morgan, and Wells Fargo Securities acted as joint book running managers for the sale. BMO Capital Markets was lead manager and Tudor, Pickering, Holt & Co. were co-managers.
- HP Appoints Five New Board Members, Including AXA Private Equity’s Senequier
Hewlett Packard Co. of Palo, Alto, Calif., named five new board members. The new directors include Booz & Co. CEO Shumeet Banerji, General Atlantic LLC’s Special Advisor Gary Reiner and Alcatel-Lucent’s former CEO Patricia Russo. AXA Private Equity’s CEO Dominique Senequier and eBay Inc.’s former president and CEO Meg Whitman were also appointed as board members. All five new directors will stand for re-election at the next annual meeting in March. The additions raised the director count to 17. The size will be reduced to 13 members after the shareholder meeting.