First read march 11

peHUB First Read

Today, First Read brings you news of KKR’s Infrastructure II fund, myths about Asian venture capital, New York State Insurance Fund hiring for a special investment officer and buyout shops that are preferring to spread the wealth amongst themselves.


Neuberger Berman boosts Asia team

Neuberger Berman has appointed Clifford Chiu, a former partner member at KKR, as senior adviser to Neuberger Berman Asia, effective immediately. Chiu will work across the Asia Pacific region to help Neuberger Berman build its Asian client base.

First read sunrise

peHUB First Read

Catch up on the latest after the weekend including Unicredit divesting more of its PE holdings, Carlyle topping $550 mln on its latest Japan fund and proof that Silicon Valley is in a venture capital bubble.


KKR-owned First Data names CIO

First Data, which is owned by KKR, has hired Christopher Augustin as chief information officer. Previously, Augustin worked at Marked Private where he served as chief information officer and senior business advisor. He was also co-founder and chief information officer for Javelin Capital Markets. First Data is a provider of electronic commerce and payment processing solution.

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Top 10 posts

Trending on peHUB this week: Job openings at GE Capital and Fortress, keynote video of MDB’s John Canning, and Tim Draper’s big breakup plan.

Jay Carney gives his final briefing at the White House in Washington

peHUB Second Opinion

In Second Opinion, Microsoft may announce its biggest round of job cuts in 5 years this week, Yahoo Q2 earnings come in low, KKR is getting a $400 mln dividend from Capsugel and Twitter gets hit with an age discrimination suit.


KKR and Riverstone to launch Trinity River Energy

KKR and Riverstone have agreed to form Trinity River Energy, a new oil and gas company headquartered in Fort Worth, Texas. The newly combined firm merges the assets held by KNR with the assets of Riverstone’s Legend. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of this year. Chris Hammack, president and CEO of Legend, will lead Trinity.


Archer Daniels buying Wild Flavors for $3.1 bln

Archer Daniels Midland Company said Monday it was buying Wild Flavors GmbH in a deal valued at approximately €2.3 billion (US$3.1 billion). Sellers include KKR and Dr. Hans-Peter Wild, WILD Flavors chairman. Wild Flavors, of Zug, Switzerland, supplies natural ingredients to the food and beverage industry. Archer Daniels is assuming about €0.1 billion of net debt. The deal, contingent on regulatory approvals, is expected to close by year end. Barclays provided financial advice to ADM.

KKR-owned First Data hires CMO

First Data Corp, which is owned by KKR, has hired Gretchen H. Garrigues as chief marketing officer. Previously, she worked at GE Capital where she most recently served as senior managing director of global strategic marketing. First Data Corp. is a provider of electronic commerce and payment processing solutions.

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