Dozens of questions continue to swirl around the Bear Stearns collapse, including if Bear could have gotten a better deal, and if Lehman Brothers is next (it says it’s plenty liquid, but so did Bear just last week). Here’s what I want to know:
1. Will Bear honor uncalled capital commitments to independent middle-market buyout firm Bear Stearns Merchant Banking (it had committed around 18% of a $2.7 billion fund that closed in 2006)?
2. Will Bear Stearns Merchant Banking change its name before the week is through? Sure it’s been trying to re-brand as BSMB for a while, but that BS is just toxic.
3. Will Bear maintain its commitment to anchor a $250 million fund from independent venture capital affiliate Constellation Ventures?
4. Will BSMB and Constellation get to stay put in Bear Stearns office space, or will they need to find new digs? And what of all those shared services? Increased management fees? Or decreased take-home pay?
5. Will Bear Stearns complete its previously-announced Au$116 million acquisition of Macquarie Private Capital?
6. Will it maintain its fund placement group, which expanded last year via the acquisition of Crane Capital?
7. Will this deal affect the future of One Equity Partners, a private equity unit of JPMorgan? How about other JPMorgan private equity activities?
8. How many pending buyouts have loan commitments from Bear Stearns? Will JPMorgan honor all of them?