Friday Document Dump

Just cleaning off the desktop…

* Thomson Financial has published two short reports of interest. The first one is about private equity investment in the biotech sector, and how both VC and buyout firms have significantly increased their recent investments. The second is about how strategic buyers actually pay higher premiums for public companies than do private equity firms.
Biotech: VC BioTech.pdf 
Strategic Premiums: M&A- overpaying.pdf

* Not quite a doc, but Jim Cramer’s take on this morning’s WSJ story about how recent buyout deals are going sour. He notes that three deals out of more than a thousand does not a trend make. Oh, and peHUB gets cited, which almost always will get you a link in return… 

* Coller Capital recently released its quarterly Private Equity Barometer, which is always one of the best resources for judging market sentiment. The big news is more of the same — a majority of limited partners plan to increase their private equity exposure: Barometer Summer07.pdf

* CalPERS just launched a $700 million healthcare private equity initiative. Here is the flowchart for how it works:
VC BioTech.pdf