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Trending this week on peHUB: the secrets to a successful PE career, funds offering 0 percent management fees, the most sought European buyout funds on the secondary market, and more.


Vantiv to buy Mercury Payment Systems for $1.65 bln

Vantiv has agreed to buy Mercury Payment Systems for $1.65 billion. Silver Lake, which owns a majority of Mercury, is the seller. Durango, Colo.-based Mercury, a payment technology company, generated net revenue of $237 million in 2013. Mercury, which had filed for an IPO, said it will withdraw its registration statement filed with the SEC. Credit Suisse and BofA Merrill Lynch provided financial advice to Vantiv. Morgan Stanley was lead M&A advisor to Mercury, which was also advised by J.P. Morgan, Barclays and FT Partners.


Silver Lake-backed Mercury Payment Systems files for IPO

Mercury Payment Systems, a portfolio company of Silver Lake, has filed for an IPO. The number of shares that will be offered as well as the stock’s pricing terms have yet to be set. J.P. Morgan Securities, Barclays Capital and Morgan Stanley & Co. are serving as lead underwriters. Based in Durango, Colorado, Mercury Payment Systems is a provider of payments solutions for small and medium-sized businesses in the U.S. and Canada.

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Trending on peHUB this week: CalPERS, OMERS, JP Morgan Chase, Russell Investments, HGGC, MassPRIM, Cambridge, TPG Capital, dry powder, VC returns, PE jobs and direct investing.


LACERA to focus on ‘top tier’ venture funds

From the looks of it, the Los Angeles County Employees Retirement Association could be one of the busiest limited partners in the industry this year, with the potential to commit up to $1.8 billion. Its investment focus will include building exposure to smaller buyout managers, as well as ‘top tier’ venture funds.

Serena Software auction continues as Attachmate exits – Reuters

Private equity firm Silver Lake is proceeding with an auction for its information technology management company Serena Software after talks aimed at selling Serena to its technology peer Attachmate Corp ended, writes Reuters. Silver Lake is now in talks with a small number of specialist buyout firms, including Veritas Capital Fund Management and Platinum Equity about selling its majority stake in Serena.

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Blackstone Ends Bid for Dell – Sources

(Reuters) – Blackstone Group LP has ended its pursuit of Dell Inc., three people familiar with the matter said on Thursday, easing the way for founder Michael Dell and his private equity partner Silver Lake to go ahead with a $24.4 billion deal to acquire the world’s No. 3 PC maker.

Silver Lake Collects $10.3 Bln for Latest Fund

Silver Lake said Thursday it closed its latest large-cap technology investment fund at $10.3 billion. The target for Silver Lake Partners IV was $7.5 billion. The firm, which is bidding for Dell, said it received $10 billion in LP capital commitments. The $10.3 billion is the largest amount ever raised for technology investment focused PE fund, Silver Lake said.

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