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5 Questions for Austin Beutner

By Dan Primack — 11 years ago

I-banking botique Evercore Partners today announced that it has hired Jim Matthews, formerly with Welsh Carson Anderson & Stowe, as its new co-head of private equity. The private equity group currently manages over $1.2 billion, which it invests in both venture capital and buyout transactions. So let’s play 5 Questions with Austin Beutner, Evercore’s co-CEO, […]

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MySpace & YouTube Are Tools, Not Gold

11 years ago

Bambi Francisco wrote several months ago: “Those who dig for gold rather than those who supply the picks and shovels make the most money. That observation holds true if you just take a look at MySpace and YouTube.” Separately, she notes that Steve Case made a similar comment years ago. Few would disagree that the content […]

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Friday FeedBack

By Dan Primack — 11 years ago

The sky is gray, we finally have a nickname for private equity pros and my Sunday will include three hours of the Pats pounding the Chargers, and two more of Jack Bauer pounding the bad guys (plus some misguided good guys). In other words, it’s time for Friday Feedback. Most correspondance this week concerned Monday’s […]

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“Private Equiteers”

By Dan Primack — 11 years ago

Fortune yesterday published its 2007 private equity outlook, and I’m already crowning it Most Influential Private Equity Article of the Year. No, not because of its actual analysis – which mostly comes courtesy of Carlyle’s David Rubenstein and Quadrangle’s Steve Rattner – but rather because it has introduced a clever new term to the financial […]

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More 2006 Data: Healthcare VC

By Dan Primack — 11 years ago

Venture capital commitments to healthcare companies rose for the fourth straight year, according to a new report out today from Healthcare Corporate Finance News. The final tally represented an 18% increase with $8.6 billion from 463 deals, with a median deal size of $12.5 million. Here’s the data: Healthcare.htm

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Record Year for Cleantech Investing

By Dan Primack — 11 years ago

Venture capitalists pumped $2.9 billion into North American cleantech companies last year, according to a new report from the Cleantech Venture Network. This is a 78% increase over the 2005 tally of $1.6 billion, and a 140% increase over the $1.2 billion invested in 2004. Expect yet another rise in 2007, at least judging by […]

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Self-Promotion Alert

By Dan Primack — 11 years ago

I’ll be on CNBC’s Squawk Box tomorrow morning at 8am ET. Topics will include the GE Plastics transaction (see below), club deals in general and the possibility that Cerberus could top Blackstone’s bid for Equity Office. UPDATE: It got a little heated on the GE Plastics issue. See the video here

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GE Plastics: Let’s Go Clubbing

By Dan Primack — 11 years ago

Goldman Sachs is not prohibiting club deals in the $10 billion auction for General Electric’s plastics unit. Moreover, it could care less about the sleepy Department of Justice “inquiry” into private equity collusion. Forgive my declaratives, but something needed to be said after the Wall Street Journal incorrectly published the following in yesterday’s edition (sorry for the delayed […]

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Lesson for 2007: Tech ≠ IP ≠ VC = Cashflow * Leverage Multiple (Bank$$$) = LBO = PE

11 years ago

Remember all those venture-backed companies that promised to turn dreams written on the back of napkins into real businesses (my erstwhile colleagues at Robertson Stephens earned many shiny nickels supporting those arguments)? As you PE professionals correctly predicted, most of them went under or were absorbed into more established entities.  However, the most amazing thing has happened over […]

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A Greener Golden Gate?

By Dan Primack — 11 years ago

Golden Gate Capital is running low on dry powder in its $1.8 billion second fund, and is hitting up LPs for a $600 million bridge vehicle (as first reported yesterday by LBO Wire). Why raise a small amount of interim capital instead of just raising Fund III? Because sources say that Golden Gate is going […]

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FoF Slowdown

By Alexander Haislip — 11 years ago

Fund of funds faced a tough time raising capital in 2006. Fundraising dropped 15% as 77 funds raised $20.8 billion during 2006, down from the 94 funds that raised $24.5 billion during 2005, according to Thomson Financial (publisher of PEHub.com). But a lack-luster reception for fund of funds isn’t the only thing plaguing the asset […]

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Acuity Mobile Gets $250,000

By Alexander Haislip — 11 years ago

Acuity Mobile, a startup based in Potomac Md. Building location-based advertising and applications for mobile phones, raised $250,000 of a $1 million investment round, according to a regulatory filing. The startup is founded by Barry Glick, the former CEO of MapQuest, Alan R. Sultan and Chuck Rieger. Its technology could allow advertisers to send rich […]

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Wiki Wetpaint raises $9.5M

By Alastair Goldfisher — 11 years ago

Wikis are no longer solely the domain of software developers who used the collaborative technology to write code. As evidence to that is the funding announcement today that Seattle-based Wetpaint has raised $9.5 million in Series B funding led by new backer Accel Partners and from existing investors Trinity Ventures and Frazier Technology Ventures. You can read the […]

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Quiz Time

By Dan Primack — 11 years ago

Can you name the former Pacific Corporate Group pro who just agreed to join Altius Associates? And no, it’s not Mike Russell (we’re looking for an unannounced hire)? First person to email me with the correct answer gets to write a Vox Populi post here at peHUB. This can include anything from a market analysis […]

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New PE Firm: PurePay

By Dan Primack — 11 years ago

A new year often is accompanied by new private equity firms, and 2007 looks to be no different. One of the latest is PurePay, a Columbus, Ohio-based firm focused on the payment industry. It raised $100 million for its inaugural fund from a handful of regional commercial banks, which believe PurePay’s industry focus and “acquire […]

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PE Firms Sued by Biomet Shareholder

By Mark Cecil — 11 years ago

A Biomet Inc. shareholder has sued four private equity firms — Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and Texas Pacific Group — and the company’s board of directors over a proposed $10.9 billion buyout. You can read the complaint here: Lawsuit against Biomet and Four PE Funds.pdf The lawsuit’s claims are typical […]

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Managing M&A Expectations (Updated)

By Dan Primack — 11 years ago

Now updated with ACG/Thomson press release and underlying data Last month, I asked PE Week Wire readers (become one here) to participate in the Bi-Annual ACG/Thomson DealMakers Survey. The official results come out tomorrow, but since everyone was so generous with their time, we got a sneak peak: Ninety-three percent of respondents (1,230 in all) believe that the current […]

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More Ethical: VCs or Bloggers?

By Alexander Haislip — 11 years ago

Wallstrip, an online business video blog, asks its investor Fred Wilson: “Do venture people have groupies?” It’s one of a series of silly, softball questions the show’s moderator, Lindsay Campbell, asks one of the investors in the company she works for. The questions aren’t objectionable in and of themselves, but asking them to an investor […]

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