peHUB Second Opinion 6.3
The Tale Of Two Buyouts: Further evidence of "how private equity groups are struggling to keep control of companies bought during the credit bubble and providing clues on whether they will succeed." (FT) Buyout Books: Towerbrook Capital doubled its money on its investment in celebrity show company Jimmy Choo. Now there's a book that details how the small couture business rose to become an "international sensation." (WSJ) Backing into it: WSJ breaks down just how big of a deal Delphi is for Platinum Equity: Platinum recently closed on a $2.75 billion private-equity fund. Typically a buyout fund will invest no more than 15% of a fund into a single deal, so not to concentrate its risk. Using that benchmark, Platinum's maximum capital commitment would be about $413 million. (WSJ) Won't Refi Again: Debt refinancings on buyout-owned companies are hitting a brick wall. (DJ) Bankers in Low Wage Jobs? How mortifying. "Carlos Araya used to order lobster, filet mignon and $200 bottles of red wine at the Palm Restaurant in midtown Manhattan. Now, he seats customers at its Tribeca branch." (WSJ)
