Slideshow: In Good Health

Healthcare buyouts accounted for 65% of the value of the top ten global private equity deals in 2011, according to a report by Bain & company. This top ten takes a look at who paid the highest price and for what deals.

Roux, Silver Lake’s Chairman, To Join Audubon Society Board

David Roux, a Silver Lake co-founder and chairman, was named to the National Audubon Society’s board of directors. Audubon connects people with birds, nature and the environment. PRESS RELEASE David Roux, co-founder and Chairman of Silver Lake, has been named to the Board of Directors of the National Audubon Society. Roux’s work as Silver Lake’s […]

Yahoo Sale Process Heats Up as TPG, Other PE Firms Sign NDAs

(Reuters) – Yahoo has signed confidentiality agreements with several parties interested in buying all or part of the Internet company, according to people familiar with the matter. The Sunnyvale, Calif.-based Internet pioneer said potential buyers had to sign an agreement by Friday to be allowed a close look at Yahoo’s finances. The Friday deadline could […]

Exclusive: Microsoft Weighs Yahoo Bid

(Reuters) – Microsoft Corp is considering a bid for Yahoo Inc, resurfacing as a potential buyer after a bitter and unsuccessful fight to take over the Internet company in 2008, sources close to the situation said on Wednesday. Microsoft joins a host of other companies looking at Yahoo, which has a market value of about […]

Slideshow: PE-Backed M&A Jumps in Q3 and Here’s the Top 5 Deals

The value of U.S. announced M&A transactions dropped 9.4% in third quarter, while PE-backed deals showed gains, according to data from Dealogic.

There were 2,662 U.S. M&A deals in third quarter, totaling $239.7 billion. This compares to 2,344 transactions valued at about $264.6 billion for the same time period in 2010, Dealogic says. Third quarter’s deal values were also off about 6% from Q2 when 2,614 transactions totaled $254.5 billion, Dealogic says.

PE-backed deals showed increases in both deal value (up 14.2%) and the number of deals (up 11%). Private equity was involved in 162 transactions in Q3, valued at $21.7 billion. This compares to 146 deals in third quarter of 2010 that totaled about $19 billion. But the value and number of PE-backed deals declined from second quarter when 151 transactions totaled $23.8 billion.

Here’s the top 5 U.S. announced PE deals for third quarter.

Yahoo Readies Books for Potential Buyers

Goldman Sachs and Allen & Co. are readying Yahoo’s books and preparing to provide potential buyers with financial information about the company, Reuters reported Tuesday. Potential buyers include buyout shop Silver Lake Partners and Chinese e-commerce giant Alibaba.

Yahoo weighs up options

Yahoo is considering inquiries from various parties about its future, but expects to take months make any decision, Reuters wrote. Yahoo has retained Allen & Co to help it conduct a “strategic review” after it fired Chief Executive Carol Bartz earlier this month. Private equity firm Silver Lake Partners is among the parties that have been in touch with Allen & Co, according to a Reuters source.

Reports: Silver Lake Looking to Buy Yahoo

(Reuters) – Private equity firm Silver Lake is considering a bid for Internet firm Yahoo Inc, according to media reports late Thursday.

As part of a deal, Silver Lake would sell off Yahoo’s Asian assets and then attempt to turn around the main operations or find a buyer for that business, two people involved in the deliberations told Bloomberg.

Separately, the Wall Street Journal, citing one of the people familiar with the matter, said that Yahoo has not met with Silver Lake and it was not clear precisely what the private equity firm proposed.

Avaya Holding to List on NYSE

Telecom equipment maker Avaya Holding Corp., which is owned by Silver Lake Partners and TPG Capital, plans to list its shares on the New York Stock Exchange under the symbol “AVYA,” Reuters reported Thursday. The company filed in June for a $1 billion IPO. Avaya was taken private in 2007 in an $8 billion deal.

“Go-Shop” Ends for SMART Modular

Publicly traded Smart Modular Technologies Inc. has announced the expiration of its “go-shop period,” which followed Silver Lake Partners’ buyout offer in April. Buyout shop Silver Lake Partners will acquire the Newark, Calif.-based Smart Modular Technologies in a cash deal that values the company at roughly $645 million. Smart Modular is a maker of memory chips. Silver Lake has roughly $14 billion under management.

Avaya Files $1B IPO

(Reuters) – Private equity-backed Avaya Holdings Corp, a telecom equipment maker, on Thursday became the latest in a rush of IPOs and filings by technology sector companies. The Basking Ridge, New Jersey-based company was taken private by Silver Lake Partners and TPG in 2007 for just over $8 billion. On Thursday, it filed to raise […]

Avaya Holdings Files for IPO of up to $1B

Avaya Holdings Corp., a telecom equipment maker backed by Silver Lake Partners and TPG Capital, has filed to raise up to $1 billion in an initial public offering, Reuters reports. Basking Ridge, New Jersey-based Avaya was taken private by the two private equity firms in 2007 for just over $8 billion.

Canadian Pension Reaps Skype Bounty

Some Canadian pensioners can retire a little easier knowing that the $146 billion Canada Pension Plan Investment Board stands to gain a huge 3x-plus return of about $930 million from the sale of its direct stake in Skype Technologies to Microsoft. The investment seems to be a major validation of the strategy of several large Canadian pensions to take large, direct stakes in private companies.

CPPIB was one of three investors that together bought a 65 percent stake in Skype from Ebay in 2009, the others being buyout shop Silver Lake and venture firm Andreessen Horowitz. Skype’s founders and Ebay retained the rest of the company, about 35 percent.

Silver Lake Buys Smart Modular

Buyout shop Silver Lake Partners will acquire Smart Modular Technologies in a cash deal that values the company at roughly $645 million, Reuters reported. Smart Modular is a maker of memory chips. Silver Lake and its unit Silver Lake Sumeru will pay $9.25 for each Smart Modular share, a premium of 13% over the chipmaker’s Monday close. Silver Lake has roughly $14 billion under management.

Who Cares About HCA? Silver Lake, KKR Make Five Fold Gain on Avago Investment

With all the fuss about the HCA IPO last week, I thought it would be fun to look at a company that has performed well under its PE ownership and still produced a generous gain.

For your consideration, Avago Technologies.

Silver Lake, KKR and Temasek Capital acquired Avago, which makes chips used in products like cell phones and computer servers, in 2005 for $2.7 billion. They invested roughly $1 billion of equity.

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