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Unions Get Their Say

By Dan Primack — 11 years ago

Organized labor is making itself heard in private equity quarters today. First, the United Auto Workers have rejected a new wage offer from Delphi Corp., General Motors and the private equity firms seeking to take Delphi out of bankruptcy. A UAW executive called the latest proposal “insulting,” and vows to strike if Delphi makes good on […]

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TPG Lures TD Ameritrade Exec

By Dan Primack — 11 years ago

Private equity’s siren song has captivated yet another senior financial executive. Asiff Hirji today announced that he has resigned as president of TD Ameritrade’s Client Group, in order to “relocate his family to San Francisco and return to the private equity industry.” Hirji’s destination is Texas Pacific Group, as first reported by Private Equity Insider and […]

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Private Equity Activity Down?

By Dan Primack — 11 years ago

Private equity has been the hot business story on Q1, with everything from Forbes cover stories to Newsweek columns to an upcoming feature on female PE pros in the inaugural issue of Conde Nast Portfolio. I’ve even covered it from time to time (i.e., Mondays through Fridays). But here’s a dirty little secret: Private equity […]

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5 Questions for Roger Kafker

By Dan Primack — 11 years ago

TA Associates today announced that it has acquired a minority stake in K2 Advisors, a $5.5 billion hedge fund-of-funds manager. So we’ve got 5 Questions for Roger Kafker, a TA managing director who will sit on the K2 board: 1. Could this deal be a precursor to TA Associates launching its own hedge fund products? Kafker: […]

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Lawsuits, Letters & Loathing at EGL

By Dan Primack — 11 years ago

Update: Shareholder lawsuits are commonplace in public-to-private buyouts, as someone is always convinced that they’re getting short shrift. But I don’t believe I’ve ever seen a buyout firm sue its acquisition target for choosing the other guy. But that’s what happened yesterday in Texas, when Apollo Management sued EGL Inc. (Nasdaq: EAGL) and its chairman […]

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Self-Promotion Alert

By Dan Primack — 11 years ago

I’ll be appearing on CNBC’s Power Lunch program at 1:30pm ET, to discuss the Q2 outlook for M&A and private equity deals. My snapshot opinion? Expect increased activity, particularly if public market bears can help drive down prices… Update: Link to the video

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White House Cancels Red Planet Mission

By Dan Primack — 11 years ago

Update after jump Two weeks ago, secondary firms began introducing themselves to Jason Rottenberg, managing director of U.S. Army-affiliated venture fund OnPoint Technologies. “We’ve heard that you’re losing your funding in the 2008 budget,” the firms said. “And we might be interested in purchasing your investment portfolio.” Rottenberg politely responded that OnPoint still has plenty […]

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VC-Backed IPOs End Q1 with a Bang

By Joanna Glasner — 11 years ago

This week is shaping up as a busy one for venture-backed IPOs, with three offerings set to get out the door before the end of the quarter.  Aruba Networks, which develops switching technology for large-scale Wi-Fi networks, is looking to raise up to $72 million in an offering on Nasdaq. The Sunnyvale, Calif., company, founded […]

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Blackstone’s Missed Opportunity

By Dan Primack — 11 years ago

The Blackstone Group has a love/hate relationship with the press. It loves seeing its name in print, but often hates the other words surrounding it (particularly things like “locust,” “collusion,” etc.).  But Blackstone had a perfect opportunity to get even with its media critics – if only it had been creative (and perhaps mean) enough. […]

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Sevin Rosen: Still Thinking

By Alexander Haislip — 11 years ago

Sevin Rosen Funds pulled the plug on fundraising for its 10th fund by sending a letter to its limited partners saying there was too much money chasing too few deals last October. At the time, pundits said the firm needed to rethink its strategy and adapt. Some people close to the firm told PE Week […]

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Israeli VCs to Pick up Pace

By Alexander Haislip — 11 years ago

Regional tension surrounding the Israel-Hezbollah conflict last year may have created political turmoil in the Middle East, but investors apparently made the distinction between the violence on the ground last summer and the fundamental stability of Israel’s tech industry. Greylock Partners, for example, announced it raised a $150 million fund dedicated to Israel just as […]

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Bisgaard-Frantzen To Leave ATP

By Dan Primack — 11 years ago

Jens Bisgaard-Frantzen has resigned as managing partner of ATP Private Equity Partners, one of Europe’s largest investors in private equity funds with more than Euro 3 billion in capital under management. A formal statement is expected later this morning. Bisgaard-Frantzen describes the split as amicable, and says that the primary issue was a disagreement over […]

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Top 10 Trouble Signals about Environmental Due Diligence

11 years ago

I’ve been pretty quiet lately, doing what the collective “we” do: Working on a deal. In the 38th day of due diligence, I started having visions and found new clarity on a number of issues (starting with, “I forget why I do this”). So I decided to use the time creatively, and ventured into top 10 territory: […]

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Blackstone IPO: An AOL-Time Warner Moment?

By Dan Primack — 11 years ago

Earlier this week, I detailed several storylines related to The Blackstone Group going public. Now that we’ve passed that Rubicon, the story has evolved into a larger question of whether or not the IPO represents a private equity peak. Or, as Rob Cox of BreakingViews suggested earlier today on CNBC, could this be private equity’s […]

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Blackstone IPO: The Morning After

By Dan Primack — 11 years ago

Ok, we’ve all had about 18 hours to digest the Blackstone IPO filing – and I accelerated the process last night with a few Red Stripes. So, what have we learned? Not much, except that Goldman Sachs didn’t have the inside track it had been reported to have. Almost all of the information in Blackstone’s […]

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More on March Madness and VC

11 years ago

Yup, my bracket is officially busted. Wisconsin going to the final game? What was I thinking?! Texas riding Kevin Durant’s slim shoulders all the way into the Final Four? Not going to happen! My B-school alma mater Stanford upsetting Louisville in the first round? Not even close! So many of those “reasonable assumptions” (except for Stanford) now seem incredibly ill-conceived in […]

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In Memoriam: Wayne Harber

By Dan Primack — 11 years ago

Wayne Harber of Hamilton Lane Advisors passed away last Friday from an apparent heart attack, at the age of 53. He had joined the firm nine years ago, and focused on business development outside of the United States. I did not know Wayne, but those who did say that he was known for his sense […]

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Blackstone Files for $4 Billion IPO

By Dan Primack — 11 years ago

The Blackstone Group has filed for a $4 billion IPO. It did not disclose the number of shares or a propsective price range. Download the filing here: Blackstone.pdf I’m still skimming through the document, but one thing jumped out first: The complete absence of Goldman Sachs. The original CNBC report last week said that Blackstone […]

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