Form PF Could Have Been Worse, Lawyers Say

The latest regulatory requirement for buyout shops appears not to be as onerous as the industry had feared, lawyers who work with private equity firms told sister publication Buyouts Thursday. Smaller registered private equity firms will be required to provide only limited information regarding size, leverage, investor types and concentration, liquidity, and fund performance. For […]

Amalgamated Bank to Get $100 Mln Investment from WL Ross, Yucaipa

Amalgamated Bank said Monday it expects to receive about $100 million in equity investments from two investors, WL Ross & Co. LLC and The Yucaipa Companies. Each are putting in around $50 million. Once the deal closes, which is expected in fourth quarter, Yucaipa (which is led by Ron Burkle) and WL Ross will each own approximately 20% of Amalgamated’s common stock.

Angel Groups Form Angel Syndication Network

Tech Coast Angels, a network of individual investors based in Southern California, has helped form what’s being called the Angel Syndication Network, an affiliation of angel investment groups across the U.S. that have banded together to provide entrepreneurs with more and larger financing rounds before leaving the angel system. PRESS RELEASE: Tech Coast Angels (TCA), […]

H.I.G Buys Halterman Products

H.I.G. Europe said Monday that it has acquired Halterman Products. Financial terms weren’t announced. Haltermann, of Germany, produces refinery products for use in graphic arts, plastics processing, automotive, pharma, fine chemicals, electronics, cosmetics and coatings. H.I.G. Europe is the European PE arm of H.I.G. Capital.

Deal Flow In Loans Is Usually Slow in Q1

This supposed loan slump is looking more and more like a seasonal phenomenon to me, rather than a sign of the apocalypse.

We have seen a fair amount of handwringing in 2011 about the slowdown in lending deal flow since the first of the year, both by Ron Kahn of Lincoln International here at peHUB and also by Randy Schwimmer of Churchill Financial. My colleague Bernard Vaughan has also written about the same issue at sister site Buyoutsnews.com. (Subscribers can see that report here.)

The concern is that, apart from refinancings and recapitalizations, which have been booming, the volume of fresh deal flow in the leveraged lending market has been disappointing …

LPs Play Back-Stage Role In GP Recruiting Trends

If you want to understand sponsor behavior, it’s often a good idea to look at what’s going on with institutional investors. So it is with recruiting. Among the biggest recruitment trends of last year expected to extend well into 2011: a surge in hiring at the junior levels, the beefing up of investor relations and […]

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IPO Check-up: New York

Yesterday, inspired by Bill Gurley’s piece looking at the IPO market in Silicon Valley, I took a closer look at the Massachusetts IPO scene. Now, let’s look at New York.

Unlike MA’s robust public company ecosystem, where I counted 33 public companies with greater than $1 billion in market capitalization, I was shocked to discover how very few similarly situated public companies in the Innovation Economy that exist in NY. If you restrict the geography to 30-45 minutes driving distance and part of the New York City “scene” (which encourages mingling and productive talent and idea sharing), you have to eliminate CA, IBM and Priceline.

Appcelerator Adds $9 Million in VC, Inks Deal with PayPal

Appcelerator, whose software translates code from web-based applications for use on mobile operating systems, has raised $9 million in a second round of funding. Menlo Park, Calif.-based Sierra Ventures led the Series B round, which includes investments from eBay and returning investors Storm Ventures and Larry Augustin. Appcelerator will use part of the funding to develop its technology for use by PayPal merchants. The Mountain View, Calif.-based company announced a $4.5 million Series A round in 2008, which was led by Storm Ventures.

John Sider Joins Ben Franklin Technology Partners

John Sider has joined Pennsylvania-based Ben Franklin Technology Partners as managing director of statewide initiatives. Sider was previously the Deputy Secretary for Technology Investment for the Pennsylvania Department of Community and Economic Development. Ben Franklin Technology Partners provides early stage funding for technology companies located in Pennsylvania.

Triangle Pete Forms Venture with Oppenheimer Global Resource Private Equity Fund

Oil and gas explorer and producer Triangle Petroleum Corp. formed a joint venture with Oppenheimer Global Resource Private Equity Fund I and a related co-investment fund (OGR). Both funds are managed by an affiliate of New York-based Oppenheimer & Co. Inc. OGR made a $25 million commitment to co-invest with Triangle for asset acquisition and development in the North Dakota Bakken Shale play. OGR received a right to participate in up to 25 percent of Triangle activity in the Williston Basin.

3i and TCR buy Trescal

Private equity firms 3i and TCR, along with management led by Olivier Delrieu, will buy Trescal, a European company involved in weights and calibrations, from Astorg Partners, a French private equity firm. 3i and TCR will take a minority stake. Trescal has, since 2007, made eight acquisitions across five countries and grown its turnover from EUR 70 million to EUR 110 million ($91 million to $144 million).

Video: VCs Explain Why They Sit in Clouds

We’ve written a fair amount about how stingy VCs have gotten over the past couple of years, but one area that they continue to invest into is the cloud.

If you want the inside scoop on what VCs are looking for in cloud deals today, check out the video I’ve posted after the jump of a panel I moderated this week for GigaOm’s Structure event. Panelists were Satish Dharmaraj of Redpoint Ventures, Promod Haque of Norwest Venture Partners, Ping Li of Accel Partners; Michael Skok of North Bridge Venture Partners and Glenn Solomon of GGV Capital.

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Sloppy Reporting from The NY Times on Carried Interest Debate

I swore I would go offline for much of Memorial Day Weekend. But I cheated and peeked at my email late Saturday afternoon and discovered an email from a friend saying, “I’m surprised to see you take such a public stance on the capital gains tax rates,” with a link to a New York Times article on the topic.

I read the article in The New York Times on the carried interest debate and was shocked to see my name and a reference to me that read:

“As the Senate Democrats sent signs that they were open to a tax increase, investors and their lobbyists mobilized quickly, warning that the proposal could stifle investments that create jobs. A group of 80 venture capitalists traveled to Boston to urge Senator John Kerry and Representative Barney Frank, Democrats of Massachusetts, to exclude their business from the tax change, according to Jeffrey Bussgang, a partner at the Boston venture capital firm Flybridge Capital Partners.”

Um…here’s the problem. I never spoke to the reporter, David Kocieniewski, who wrote the article (although I later found a voice mail from him). Other than the fact that my name and firm name are accurate, nothing else in that sentence is correct.

SolarEdge Raises $23 Million

SolarEdge Technologies, a stealth-mode maker of solar energy technology, has confirmed a recent $23 million round of funding to several news outlets. The B round was led by Vertex Venture Capital with participation from previous investors including Walden International, Opus Capital and Genesis Partners. Round A was for $11.8 million, according to GreenTech Media.

Focus Financial Buys WESPAC

Focus Financial Partners, a New York-based wealth management group, has acquired WESPAC, an Oakland, Calif.-based registered investment advisor and benefits administrator. No financial terms were disclosed. Focus Financial is backed by Summit Partners.   PRESS RELEASE   Focus Financial Partners, LLC, the first global partnership of independent wealth management firms with over US$29 billion in […]

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