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BizBuyer Auctions Second Round to CMGI

19 years ago

BizBuyer.com of Los Angeles raised $5 million last month from @Ventures, the venture arm of CMGI, in its second round of venture capital financing. The company operates an online marketplace for small businesses that currently handles auctions for telecommunications connectivity and phone system services – long distance and cellular. Chief Executive Bernard Louvat said the […]

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Pfingsten Closes Fund I With Shift to Fund II

19 years ago

Pfingsten Partners LLC has shuddered its first fund by recapitalizing portfolio company Barjan Growth Products through the $100 million Pfingsten Executive Fund II LP and a co-investment from Allstate Private Equity, a limited partner in the Pfingsten fund. The two groups collaborated to take out the existing investors in East Moline, Ill.-based Barjan in a […]

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Venture-Backed IPOs Fly Past Year Ago

19 years ago

Interest rate worries and the accompanying volatility in the public equity markets have created reams of speculation on when the initial public offering market will slow down. However, the filings just keep on coming and venture-backed companies are leading the charge with bigger offerings and higher post-offer valuations. During the first half of 1999, 96 […]

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Venture Capital Streaming into Content Services

19 years ago

If Marshall McLuhan were reincarnated as a venture capitalist, he would likely bet the house on companies that stream video and audio over the Internet. The late media critic argued that the content of any new medium is always derived from existing media. So, the streaming industry’s use of traditional media to enhance the Internet […]

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Jobs.com Grabs $10M First Round from Idealab

19 years ago

Online recruiting is increasingly common, but compatibility problems continue to be a stumbling block. Dallas-based Jobs.com thinks it has the answer. Idealab Capital Partners (ICP) of Los Angeles invested $10 million in the Web-based job service’s first round of institutional financing. The company bought the jobs.com domain name from a San Diego-based webmaster, after idealab!, […]

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Unity Calls Down $71M Growth Financing

19 years ago

Responding to the need for telecommunications services in secondary markets, Unity Communications Inc. raised $71 million in growth financing last month. The Jackson, Miss.-based company received $20 million in equity from several investors and $51 million in subordinated debt from Newcourt Capital. The equity component came from Harbert Management Corp. of Birmingham, Ala., BB&T Capital […]

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Doughty Hanson Snags Big LBO Public Listing –

19 years ago

Doughty Hanson, the U.K.-based buyout firm, has floated Geberit on the Swiss stock exchange. Shares in Geberit, Europe’s largest sanitary installation systems company, closed at Sfr375 ($243.75) on their first day of trading, after the IPO price was set at Sfr330 per share. Doughty Hanson claims the float is the largest initial public offering of […]

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Investcorp to Boost Funding with Bond Offer –

19 years ago

Global private equity firm Investcorp International has launched a euro 200 million ($207 million) bond through the European medium-term note program in order to supplement its traditional fund raising avenues-private placements and syndicated bank loans. It is the first time the Bahrain-based firm has issued publicly traded bonds that will be used for general corporate […]

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Joseph Littlejohn Rides Bus Purchase to Mexico –

19 years ago

Signaling an increasingly cross-border investment strategy, New York buyout firm Joseph Littlejohn & Levy (JLL) will move production operations of its latest acquisition, a bus manufacturer, to Mexico to cut costs. The firm also has been scouting for deals in Europe. Last month, JLL acquired an approximately 61% stake in MCII Holdings (USA)-the motor coach […]

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Hicks Muse Giddy On Champagne Deal –

19 years ago

Inking its first platform deal in France, Hicks, Muse, Tate & Furst Inc. last month agreed to acquire the Mumm and Perrier-Jout champagne houses from Canadian drinks conglomerate Seagram for $310 million. The Dallas buyout firm will put $100 million in equity into the deal, and bring on board Jean-Jacques Frey, a local businessman in […]

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Dorset Capital Nears Close For Debut Vehicle –

19 years ago

A group formed this winter by three investment bankers with no direct investing experience quickly has rounded up $65 million, which includes capital commitments from three buyout firms. Dorset Capital Management, LLC has scheduled a June 30 first closing on $65 million for its debut private equity fund, said Mark Saltzgaber, a principal. The San […]

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Fund Raising Cools Off as Summer Heats Up –

19 years ago

The favorite expression industry observers have used to describe fund raising for the last three years was that the rising tide lifts all boats. Today, however, G.P.s suddenly are finding more constricted flows of capital, and, as a result, some of their partnerships are experiencing a slack tide in the fund-raising waters. Firms raised $9.674 […]

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G.P.s Shrug Off Slow Deal Volume In Second Quarter –

19 years ago

It’s the case of the missing deals. Most second-quarter indicators pointed to a robust deal market, with general partners claiming strong flow and lenders expressing eagerness to finance. The buyout industry, sources say, has been confidently emerging from last September’s credit market “blip,” and activity has since been stabilizing. So where were the deals? The […]

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Lazard Freres Places Buyout Fund on Hold –

19 years ago

In the midst of a bitter legal battle over the ouster of its real estate fund chief, Arthur Solomon, Lazard Freres & Co. has postponed efforts to launch its new leveraged buyout fund, according to people close to the situation The LBO fund, which featured a target between $500 million and $750 million, originally was […]

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Chase Capital Forays Into Third-Party Funds –

19 years ago

With one fund targeting third-party capital currently on the market, another that saw a final closing last month and more in the works, private equity giant Chase Capital Partners is in the midst of expanding its business to include managing money other than that of its parent, Chase Manhattan Corp. Partners at Chase Capital currently […]

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Endowment Enters Alternatives Arena –

19 years ago

The California Endowment, Woodland Hills, Calif., a $2.5 billion fund established in 1996, after its July board meeting likely will begin searching for buyout fund and venture capital firms to begin fulfilling its 5%, or $125 million, allocation to alternative investments, said Alex Hsiao, senior investment manager. The searches were originally slated to begin in […]

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Landmark Launches $500 Million Fund IX –

19 years ago

Landmark Partners this month is coming to market with its ninth private equity fund even as one of its partners has noted that there are too many buyers in the secondaries market. Landmark Private Equity Fund IX, like its predecessor, will have three components. The fund will target primary partnership investments-focusing particularly on first-time funds-direct […]

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Mercantile Markets Consumer Products Effort –

19 years ago

Mercantile Capital Partners, LLC has joined a growing list of new firms launching private equity funds targeting the consumer industry. The Mercantile Capital offering has an interesting hook as Antoine Treuille, the firm’s executive managing director, led the 1988 buyout of Loehmann’s Holdings, one of the biggest biggest retail industry buyouts of the 1980s. The […]

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