First Read

* Jenny Anderson on the inevitable privatization of U.S. infrastructure. Lex, on the other hand, expects a “great unwinding of infrastructure funds,” particularly when it comes to granddaddy Macquarie.

* The latest public pension to create a private equity allocation? The Tennessee Consolidated Retirement System.

* Arianna says VC-backed Huffington Post is not for sale.

* WSJ on how individual partners at Insight Venture Partners made a fortune off the sale of Photobucket to News Corp., while the firm’s investors made nothing. I like nothing more than a good scandal, but this just doesn’t seem to be one. If a growth/later-stage firm like IVP had been making lots of seed-stage investments, on the other hand, that might have been worthy of outrage.

* Lehman asks three PE firms to stay in the bidding for its asset management arm. They are: KKR, Bain and Hellman & Friedman.

* China is creating its own version of CFIUS, but Heidi says it will rarely be used.

* Winning Cubs brings more value to Sam Zell.
* Wallstrip on microlending:[youtube=http://www.youtube.com/w/?v=ISUq5k-jJ-g]