peHUB First Read

* William Cohan: Bruce Wasserstein's last surprise * Sarah Lacy advances the Elevation Partners story, reporting that the firm quietly bought around $90 million worth of Facebook shares on the direct secondary market. * Adam Lashinsky digs deeper into Terralliance, the high-tech wildcatting company that has become a legal morass for both its venture capitalists and former founder. * Morning Call: U.S. futures point higher, London slips early, European shares rise, the Nikkei hits 18-month high and Hong Kong shares rebound. * Hey MBAs: Wall Street is hiring again * Anthony Rodriguez on the state of academic entrepreneurs * Four children's gizmos that inspired scientific breakthroughs * The FT checks in with some of China's private equity princelings