PE HUB Wire Highlights, 4.9.18


Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

PEI Media buys PE HUB; Delos Capital Fund II closes on $275 mln; Shore Capital Fund III targets $250 mln

It’s a brave new world at PE HUB. Again.

Some of you may have noticed yesterday that Leeds Equity, our owner since December 2016, sold Buyouts Insider to PEI Media Group. Financial terms weren’t announced. PEI is owned by Bridgepoint Development Capital. 

The deal includes PE HUBBuyoutsVenture Capital Journal, PartnerConnect events,Regulatory Compliance Watch and Credit Union Leadership Convention. Yours truly remains with PE HUB as part of the sale.

Yesterday, I met with the PEI executives, who were all very nice. They explained to me what will come next in the sale and I realized I already knew. I’ve done this three times so far with PE HUB. Reuters in late 2014 offloaded Buyouts to UCG, which then sold the company to Leeds in 2016. Now, we’re joining PEI.

I’ve often asked, hubsters, if there are companies more suited to PE ownership. Could we be one of them? This time around, we have owners who understand private equity and the demands of reporting on the industry as journalists. There’s also free bagels on Monday. What more could we want?

Onto the news.

John Oliver, on his HBO show “Last Week Tonight,” ripped into private equity and its ownership of mobile homes, according to The Guardian. Around 20 million Americans live in mobile homes because they cost half of traditional, site-built homes, the story said. Investors in the segment include Warren Buffett and Carlyle Group.

Oliver, on his show, said “mobile homes may be a terrible investment for people buying them, but they’ve been an incredible investment for Warren Buffett.” The comedian pointed to the billionaire’s Clayton Homes, which generated pre-tax earnings of $911 million in 2018.

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