Warburg Pincus related stories
All articles and analysis
- The Junk Bonds of Magical Thinking
It's not as if finance is at a loss for mysteries these days: We're having trouble explaining everything from last week's flash crash to the subprime crisis of 2007. But even among the chaotic tentacles of financial mysteries, there is one conundrum that I find particularly vexing: Current pricing of junk bonds and leveraged loans. Leveraged loans have returned 5.25% this year, according to Standard & Poor's LCD loan index. Bloomberg says junk-bond underwriting has quadrupled http://www.bloomberg.com/apps/news?pid=20601087&sid=anQNxxSm8VyU so far this year compared to the same time in 2009, to $91.8 billion. Since the Freeze of 2008, demand for leveraged loans jumped nearly 70% http://www.businessweek.com/news/2010-04-16/cerberus-taps-banks-for-lbo-as-leveraged-loan-rally-spurs-m-as.html the resurgence of big buyout talk shows the willingness of banks to lend to private equity firms. Silver Lake and Warburg Pincus will borrow $2 billion of IDC's $3.4 billion pricetag http://www.businessweek.com/news/2010-05-07/loans-backing-lbos-rise-as-buyout-costs-approach-two-year-high.html Financing is so easy that even the much-maligned dividend recap is back http://www.leveragedfinancenews.com/news/handicapping_the_dividend_recap-204875-1.html S&P Leveraged Commentary and Data shows that LBO financing increased by 15 times this year so far compared to the same time in 2009.
- peHUB First Read
* Sarah Lacy: Brazil's slumdog entrepreneurs http://techcrunch.com/2010/05/12/coming-up-from-the-favelas-brazils-slumdog-entrepreneurs/ * Are family offices the new face of venture capital? http://www.institutionalinvestor.com/investment_strategies/Articles/2477304/The-New-Face-of-Venture-Capital-Family-Offices.html * Breaking up (a buyout) has gotten much more expensive http://www.businessweek.com/news/2010-05-12/cerberus-faces-20-fee-as-lbo-targets-demand-backstop-update1-.html * Morning Call: U.S. futures point lower http://www.reuters.com/article/idUSTRE6341EA20100513 London rises early http://www.reuters.com/article/idUSLDE64C0GQ20100513 European shares retreat http://www.reuters.com/article/idUSLDE64C0O320100513 the Nikkei hits 1-week closing high http://www.reuters.com/article/idUSTOE64C04F20100513 and Hong Kong shares climb http://www.reuters.com/article/idUSTOE64C01020100513 * Jon Corzine starts small in bid for redemption Corzine Starting Small in Bid for Redemption * Will Warburg Pincus play spoiler on the Fidelity National buyout? http://online.wsj.com/article/SB20001424052748704247904575240811133598580.html?mod=wsj_share_twitter * Beverly Hills Austerity? California is now one of the world's top 10 government default risks http://www.businessinsider.com/wow-california-is-now-in-top-ten-for-highest-government-default-probability-in-the-world-2010-5 * The winner of MIT's $100k business plan competition is an entrepreneur who's PhD is in concrete http://www.xconomy.com/boston/2010/05/12/c-crete-wins-mit-100k-for-making-cleaner-concrete/ * John Carney joins CNBC, a network at which he's thrown more than a few rhetorical punches http://www.mediaite.com/online/john-carney-joins-cnbc-corporate-environments-dont-frighten-me/ : "The folks at CNBC never seemed to hold a grudge about it. So I won’t hold one against them either."
- VC-Backed IPO Pipeline Remains Full
Chipmaker Wintegra filed for an IPO on Friday, making it the sixth VC-backed company to do so since we last looked /68783/vc-backed-ipo-pipeline-keeps-growing/ at the VC-backed IPO pipeline. The other newbies were Ellie Mae, RealPage, Tangoe, Amysis Biotech and Neophotonics). There also have been five VC-backed companies that went public during that time period -- Convio, Alpha & Omega, Codexis, Alimera Biosciences and SPS Commerce -- and one that canceled its offering (Telegent). That means the VC-backed IPO pipeline remains static with 42 registrants, although the net targeted raise increases by $36 million. Overall, VC-backed companies in registration to go public are aiming for more than $4.6 billion. Get full pipeline after the jump...
- Silver Lake, Warburg Pincus to buy IDC for $3.4B
The sale of IDC is the largest LBO so far this year
- peHUB Wire: Tuesday, May 4, 2010
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