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peHUB Second Opinion 2.9
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In Europe its 9.02.10. Ha. (Entertainment Fix)
$140 1BR Affordable Snow Fort Sublet in Capitol Hill: Now available for rent! Includes Wireless internet, doorman with fez, premade snowballs. (Craigslist) Get It While You Can: The Flotation Window could slam shut on PE. (Telegraph) Paranoid optimism: PE firms "shouldn't underestimate the impact on their industry that rising populism and politicians taking whacks at banks and bureaucracies will have." (NY Times) Email Forward of the Day: Rice Student Thinks Jefferies Is "More Courteous" Than Its Counterparts And Has "The Best Corporate Culture In Town" (Dealbreaker) And here's another, more service-y take on the same topic. (Business Insider) RISKY: The key to LBOs is not a lack of risk (that would not be an LBO by nature) but less of it. (NY Times) Read more » |
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Google Buzz Gets Uniformly Pooped On
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Earlier today, Google unveiled Buzz, a Facebook-like platform built into Gmail that allows users to see their contacts' status updates, media, and favorite links -- including via popular applications like Twitter, Picasa, and Flickr -- as well as to "like" them. The social media tool also allows users to let friends know where they are, a la the popular application Foursquare.
The announcement, which came at 10 a.m., was eagerly awaited. Reactions to it since have been downright ugly. Read more » |
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Where Should We Hold The Next peHUB Shindig?
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Last week, more than 400 New York readers attended our first peHUB Shindig of 2010. Now we want you to help us decide where to go next.
Below are ten cities we're considering for the next peHUB Shindig. Our plan is to follow your wishes, so long as we're able to secure sponsors (to pay for the open bar, etc.). You also can add alternate suggestions in the comment section (we've recently done them in NYC, Chicago and Dallas -- but plan to return to each later in the year). Vote after the jump... Read more » |
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Q&A On M&A: Roark’s Steve Romaniello Talks Restaurant Deals
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 The Atlanta-based buyout firm looking both for new restaurant acquisitions and add-on to its FOCUS Brands platform, which already includes Carvel, Cinnabon, Moe's Southwest Grill, Schlotzsky's, Seattle's Best International and McAlister's Deli. Roark's $1 billion fund, which closed in 2008, is 30% deployed. I spoke with Steve Romaniello, a managing director with the firm, on being "on-trend," bidding for cheese, deal multiples, and zigging while everyone else is zagging. What's the firm's outlook for restaurant performance this year? Will sales improve? We think its going to be another difficult year. Not quite as bad as last year, but we don't expect to see meaningful improvement in many segments until we start seeing employment growth again. And no one has any idea when that will be. Read more » |
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“The Bachelor” Dumped by Facebook Employee
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 It was a devasting turn in the “journey” of limo-business-owning pilot, Jake Pavelka, who stars in the show’s seventh season. Fedotowsky was among the final four contestants chosen by Pavelka. In fact, she broke the news to him on the ... |
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Invision Capital is raising up to $50 million for its debut fund, according to a regulatory filing. The Chicago-based firm plans to focus on buyout investments in the lower middle-markets. Invision’s principals include: Robert Castillo, a founder partner of Valor Equity Partners; Thomas Harrison, a co-founder of Diamond Creek Capital; and John Devaney, also a co-founder of Diamond Creek Capital. The firm already has secured more than $15 million in commitments. www.invisioncapitalgroup.com Read more » |
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New Fund Performance Data from UTIMCO
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 But Oregon and Washington are not the gold standard. That would be the University of Texas Investment Management Co. (UTIMCO), which seems to operate on one of those calendars that begins being sold around Halloween. You know, the ones with November, December and then all of next year… Yesterday I asked UTIMCO for its most current PE performance data, and it sent a file that includes numbers through the end of November 2009. That makes it the most current sheet out there, and I’ve posted it after the jump. I’ve also posted UTIMCO’s performance data through November 2008, for the sake of comparison. Read more » |
NEWS |
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Banks are certainly not lending “with all the bells and whistles… that we saw in 2007 and before”, Black said, at one of the private equity industry’s largest conferences, Super Return International. He was referring to the little or no covenant features seen in past deal |
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NEWS |
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LONDON (Reuters) - Pension fund ATP, which manages 609 billion Danish crowns ($112 billion), is set to invest 1 billion crowns a year in hedge funds as part of a plan to create an “all weather” portfolio, the fund’s chief executive said. Lars Rohde told Reuters on Monday the Danish Labour market pension scheme also planned to double its exposure to private equity. From 2012, the scheme, which returned 8.5 percent in 2009, will increase its hedge fund and private equity allocation as it implements a long-term strategy aimed at achieving returns independent of market conditions — what Rohde described as an “all weather portfolio.” “We have a plan that going forward we should contribute approximately one billion a year,” |
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MUMBAI (Reuters) - Indian conglomerate GMR Infrastructure (GMRI.BO) is in advanced talks with private equity firms to raise about 15 billion rupees ($322 million) for its power unit, the Economic Times reported, citing the group’s chairman. G.M. Rao told the newspaper the deal would be closed in the next two weeks, but did not disclose the names of the private equity firms that would provide the funds. The group is also talking to some funds to raise $400 million for its airports division, the paper said, citing Rao. In December, sources told Reuters GMR is in advanced talks with Singapore investment firm Temasek [TEM.UL] to raise $150 million by selling shares in its power unit. [ID:n |
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LPs’ $400 Million Vote of Confidence: Redpoint Ventures Raises Fund IV
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 No one is complaining about Yang’s favorite pastime anymore. Tonight, Redpoint announced it has just closed a $400 million fund, reward in part for a number of the envy-inducing exits it saw last year, at the height of the worst recession in d... |
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Afraid to Lose Money? Congratulations, You Have a Healthy Amygdala (or You’re a VC)
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 Published by scientists at the California Institute of Technology in Pasadena and at University College of London, the research centered on two women with Urbach-Wiethe, a disease that damages the amygdala, an almond-shaped part of the brain linked to feelings of fear and aggression. While it’s generally the case that Read more » |
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NEW YORK (Reuters) - A U.S. bankruptcy judge on Monday said Champion Enterprises Inc (CJHBQ.PK), a maker of factory-built homes and modular buildings, could go ahead with an auction of its assets next month. Champion, which sought bankruptcy protection in November, has said it wants to complete the sale process no later than March 18. Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware in Wilmington, on Monday approved bid procedures for an auction, according to court papers. A group of the company’s secured creditors including its bank lenders and investment firms Ce |
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peHub Second Opinion 2.8
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Wall Street's Rising Stars: Ten to watch in ‘10. (Barron's)
Q&A: View from the top with Tony James. (FT) New Investors Topple Masters of the Universe: Asian sovereign wealth funds and venture capitalists, rather than big firms of the past, were the most active investors last year (Wealth Bulletin) Update: The Kleen Energy plant explosion has claimed five identified casualties. The company, backed by Energy Investors Fund, won Goldman Sachs a Deal of the Year award from Project Finance. (Courant.com) Watch Your Backs Guys: Four pensioners have appeared in a German court charged with kidnapping a financial adviser they blamed for making rotten US property investments. (BBC) Tired of Complaining Customers? Ban them! That's what Tim Horton's did! (CBC News) Read more » |
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