From their work ethic to their idealism, people in Silicon Valley tend to do things a bit differently. Turns out those differences extend to the way many of Silicon Valley’s newly rich think about generational wealth.
SunGard Data Systems Inc, the computer software maker that was taken private in 2005 for $11.4 billion, is exploring a sale of its data managing operations that could fetch up to $2 billion, sources told Reuters.
Guest columnist Philippe T. Schenk of Grove Street wonders if the uncertainty around taxes in Q4 affected PE investment decisions and led to a misalignment of interests between the taxable GP and the tax-exempt LP.
The Valence Group’s Anton Ticktin, who’s been focused on mergers and acquisitions in the chemical sector since the late 1990s, ranks 2013’s deal prospects as bullish, with major private equity players wading in. “We have a very strong pipeline,” Ticktin said in a phone interview. “We think 2013 will remain pretty robust, maybe not at the peak of 2011, but certainly at a high level—maybe the same as 2012.”
The IPO of HD Supply could provide a way for Bain Capital, the Carlyle Group and Clayton Dubilier & Rice to recoup their investment.
Jobs of the Week: Benchmark Capital, Blackstone’s Park Hill and Coller Capital are Scouting for Talent
This week there are job vacancies at venture veteran Benchmark Capital and secondaries specialist Coller Capital. Buyout behemoth Blackstone is also seeking a deal assistant for its growing Park Hill Secondaries team.
Accel Partners has allocated another $100 million for its Big Data Fund 2, and the firm has added Anthony Deighton, CTO of Qlikview, and Shlomo Kramer, CEO of Imperva, to its advisory council.
General Catalyst says its executive-in-residence program is clicking, pointing to the successful sale of energy startup CLEAResult to General Atlantic.
Digital coupon provider RetailMeNot has raised at least $265 million from venture investors in the past couple years to fund a spree of acquisitions and expand its market. Now, Austin Ventures and other backers are looking for a big return on investment from the company’s upcoming IPO.