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peHUB Second Opinion 7.30
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Nokia Talks to PE: Nokia Siemens Networks is in talks with several buyout shops--including TPG, Silver Lake and Bain-- for a $1 billion cash infusion.
Mouse House Gets New Entertainment Chief: Walt Disney Co. on Friday named Paul Lee, the head of its ABC Family cable-television channel, to fix its ailing ABC network. Toyota Docs Blocked: Department of Transportation has temporarily blocked release of findings by auto-safety regulators that could favor Toyota. NJ May Say No to Advisors: New Jersey, the third-most indebted U.S. state, is considering handling future bond sales without financial advisers. Goldman Comes in 2nd: Goldman Sachs isn't the best place to work but the second best place, from Dealbreaker. Cuban Bidding for Texas Rangers: A bankruptcy judge rules that auction for Texas Rangers may proceed. Mark Cuban, owner of the Dallas Mavericks, exptected to bid. Mergers Crawl to Close: Deals are taking longer to forge and longer to get regulatory approval. Apple files Patents: Apple has filed patents to cover travel- and shopping-related apps, from CNET. Read more »
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Charterhouse Raising Up To $600 Million for New Fund
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 New York-based Charterhouse, a middle-market buyout shop, focuses on consumer, healthcare and business services. It typically invests about $30 million to $60 million equity per transaction. Read more »
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The Rangers’ bankruptcy court-appointed chief restructuring officer, William Snyder, said at a court hearing on Friday that he supports the new offer, according to a person who attended the hearing by telephone. The source did not want to be identified because of this person
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Healthcare M&A Get Strong Prognosis
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 On Friday, THL Partners said it was buying Intermedix, a provider of emergency billing services, from Parthenon Capital Partners. Water Street Healthcare Partners also announced its purchase of Medical Specialties Distributors. Other recent examples Read more »
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Charterhouse Surprises Itself with NewPath Sale
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 Crown Castle, a Houston cellular tower operator, is buying all of NewPath, including stakes held by Charterhouse, NewPath Chairman Bill Marraccini, and Meritage. The deal is expected to close in roughly 60 days. Read more »
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(Reuters) Oaktree Capital, a senior debtholder in German aluminum company Almatis, ratcheted up its fight against Almatis’s equity owner, Dubai International Capital, over the best way to restructure the bankrupt company, according to court documents. Oaktree objected to Almatis’ continued use of cash collateral, which companies need to cover operating costs and other expenses while in bankruptcy. Oaktree also said it is in talks with Almatis on an alternative restructuring plan. Oaktree, a major investor in financially hobbled companies, helped develop Almatis’ original restructuring plan, which was abandoned last week when Almatis inked a replacement financing deal with Dubai International Capital LLC [DUBAHP.UL]. Under the new plan, Dubai
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(Reuters) - The auction for Italian business management software group TeamSystem will conclude within weeks, with Sage (SGE.L) heading the field with a bid of up to 650 million euros, people familiar with the matter said. British accountancy-software group Sage is vying with private-equity groups Cinven and HgCapital to buy the business from U.S private equity firm Bain Capital, the people said, with bids expected from all three on Friday. Buying TeamSystem would be the first major deal for Newcastle-based Sage for a number of years, and would fill the in-tray of incoming CEO Guy Berruyer. Sage has a history of acquisitions and analysts have said TeamSystem, which provides tax, payroll and budgeting software for small and medium sized businesses, would be a good f
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Mike Maples Raises New Fund, Dave McClure Next in Line
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 First up is Floodgate, the firm formerly known as (Mike) Maples Investments. It has raised $73.5 million for its third fund, which more than doubles the $33 million raised for Fund II back in 2008. Read more »
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Online Gambling: Where VC and PE May Come to Play
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 Such it is with Internet gambling. No, not because both VCs and LBO pros like to play online poker, but rather because the House Financial Services Committee this week passed a bill that would lift the ban on (non-sports) Internet gambling...
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About That Blackstone “Final” Fund Close…
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 Seems I heard the first part (final closing for BCP VI) and not the contradictory second part. But I got kind of curious, when the Oregon Investment Council approved a $200 million commitment to BCP VI this week. And then an LP source noted that Oregon was not the only LP that hadn’t made a final decision as of James’ pronouncement. Read more »
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Would DST IPO Reveal Facebook Financials?
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 Matthew Ingram described DST as a “mutual fund of hot startups.” He's largely right, except that mutual funds disclose financial information on underlying portfolio companies (or at least it's easy to find, since the companies are publicly-traded). DST, on the other hand, may not be required to tell shareholders much more than company name and date of investment. In other words, a DST IPO won't open the Pandora's Box that worried so many VCs during the public pension transparency debatse of 2002 and 2003. Read more »
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Silver Lake Partners and Warburg Pincus have completed their take-private buyout of financial information provider Interactive Data Corp. The $22.86 per share deal valued IDC at approximately $3.4 billion. Read more »
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peHUB First Read
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 * Lee Hower: Social games have been institutionalized (deal with it) * SEC charges the Wyly brothers with insider trading fraud that reaped $550 million * Morning Call: U.S. futures slip ahead of GDP data, London falls early, European shares keep slipping and the Nikkei loses 1.6%. * For Apple followers, it's a matter of faith * Tony Hayward is a narcissistic nutjob * Ratings agencies voice concerns about take-privates * Paul Graham says that traditional VC round structures are going way. In related news, Paul Graham seems to keep forgetting that not every startup is an IT startup. * Ben Smith: "Peter Orszag may have had the shortest tenure of any member of the Obama Cabinet, but in an administration dominated by a powerful White House staff, he left as deep a mark as almost anyone in it." Read more »
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The move may give Chief Executive Mark Zuckerberg more time to gain users and boost sales, but Zuckerberg could still push for a stock sale at any time, the agency said. Jonathan Thaw, a spokesman for Facebook, declined to comment, Bloomberg said. Facebook could not immediately be reached for comment by Reuters outside regular U.S. business hours. Zuc
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(Reuters) - The central figure in a New York public pension corruption case will be tried on some of the most serious charges brought against him by the attorney general, including felonies, a judge ruled on Thursday. Henry Morris, the former state comptroller’s top political aide, was charged in March 2009, along with David Loglisci, the pension fund’s ex-top investment officer, who one year later became the sixth person to plead guilty in the scheme. New York Supreme Court Judge Lewis Bart Stone dismissed some of the 90 counts Morris faced, but ruled he could be tried on charges including money laundering, bribery and violating the state securities law, the Martin Act. Attorney General Andrew Cuomo, the Democratic candidate in November’s gubernat
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LOS ANGELES/BANGALORE (Reuters) - Walt Disney Co (DIS.N) said on Friday it had sold film studio Miramax for about $660 million to an investor group, ending months of talks between the media group and various bidders. The sale of Miramax Films to a group including construction magnate Ron Tutor and investment firm Colony Capital includes rights in over 700 movie titles including Academy Award winners such as “Chicago”, “Shakespeare in Love” and “No Country for Old Men,” Disney said. While Miramax has continued to pump out critically acclaimed films such as “Doubt” it has lacked big commercial hits like its earlier “Pulp Fiction” and “Chicago.” The sale underscores Disney’s plans to focus it
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A Good Hand Suddenly Looks Even Better for Betfair
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 Yesterday, the House Financial Services Committee approved a bill that would lift the ban on Internet gambling enacted four years ago. Democratic aides told the Wall Street Journal that to become law, it would likely have to be added to a “must-pass” piece of legislation later in the year. Given that the bill aims to bring many of the online gaming Websites to the U.S. — where they could ultimately produce tax revenue for the government in the tens of billi...
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