PE Hub Staff

Get The Wire in your inbox each morning! Just send us an email. Alan Austin has agreed to join buyout shop Silver Lake Partners as managing director and chief operating officer. He had spent the past three years in a similar position with early-stage venture firm Accel Partners. Most of Austin’s duties at Accel will […]

Get The Wire in your inbox each morning! Just send us an email. Doug Brown, former president and CEO of Advent International, has been elected president and chief executive of water treatment and purification company Ionics Inc. (NYSE:ION). Brown stepped down from his lofty Advent post late last year when the firm abandoned its hierarchical […]

Get The Wire in your inbox each morning! Just send us an email. Rocket Network Inc., a San Francisco-based provider of online recording studios, has run out of cash and will shut its doors on March 31. The company had received just over $44 million of venture capital funding since being launched in early 1995. […]

Get The Wire in your inbox each morning! Just send us an email. UK retailer WH Smith has teamed up with private equity firm Cinven for a possible bid on the book publishing division of AOL Time Warner. No specifics were available, but the eventual sale could net AOL upwards of $400 million (although probably […]

Get The Wire in your inbox each morning! Just send us an email. Masergy Communications Inc., a Dallas-based network service provider focused on the business market, has raised $31 million in Series B venture capital financing from existing backers Meritage Private Equity Funds and Centennial Ventures. The company had previously raised $67.6 million in a […]

Get The Wire in your inbox each morning! Just send us an email. Daniel Akerson, former chairman of XO Communications and a former partner with Forstmann Little & Co., will join The Carlyle Group on March 3 as a Washington DC-based managing director. He will focus on venture and buyout deals in North America. Prior […]

Thursday 2/20Get The Wire in your inbox each morning! Just send us an email. BattellePharma, a Columbus, Ohio-based pharmaceutical company focused on respiratory and systemic diseases, has completed a private placement of Series B Preferred Stock for $22 million. TL Ventures led the funding round that included new investors Merlin BioMed Group, Fletcher Spaght Ventures, […]

Get The Wire in your inbox each morning! Just send us an email. 3i Group likes to talk about its global private equity presence, but it seems to have decided that it can do without Japan. According to various reports, the London-based firm will shutter its Tokyo office, thus ending the 3i Asia Pacific Japan […]

Get The Wire in your inbox each morning! Just send us an email. The Phoenix Companies Inc. as agreed to sell off a $53.5 million portfolio of its venture capital limited partnership interests (approx. one quarter of its portfolio), along with unfounded commitments of $28.1 million. Half of the sale will go to unnamed third […]

Get The Wire in your inbox each morning! Just send us an email. Illinois Governor Rod Blagojevich yesterday began making good on his promise to launch a $200 million venture capital program (named the Illinois Opportunity Fund) for small local businesses. The man running the show will be new state economic affairs director Jack Lavin, […]