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First Round Closes “Second” Fund

By Dan Primack — 11 years ago

First Round Capital has closed a new fund with $125 million in capital commitments, from limited partners like Princeton University, The University of Notre Dame and The Investment Fund for Foundations. There had been speculation that this fund’s size was an indication that it was moving toward later-stage investing, but First Round co-founder Josh Kopelman […]

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peHUB First Read

By Dan Primack — 11 years ago

Some links to kick off your Friday: * CalPERS has sold a legacy portfolio of private equity fund interests valued at around $3 billion, to a group of secondaries buyers. The pension giant had retained UBS last year to manage the sale. * Mike Arrington says today is D-Day (decision day) at Yahoo. Seems they’ve given […]

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Plaxo Not Sold (Yet)

By Dan Primack — 11 years ago

There’s a new blog rumor that social networking company Plaxo has been sold to Google for approximately $200 million, but peHUB has learned that no such agreement has been signed. A source close to the process says that Plaxo is in advanced negotiations with several suitors — including Google — and that a final decision […]

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It’s Not About Sector

By Dan Primack — 11 years ago

I just got off the phone with a reporter, who wanted some comments for a piece she’s writing about the private equity market, post-credit crunch. So we talked debt availability, debt terms, deal sizes and return expectations. Then she asked the following question: “What specific areas are private equity firms most likely to invest in […]

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Wall Street Started The Fire

By Dan Primack — 11 years ago

Last December marked the release of Here Comes Another Bubble, a Web 2.0 parody sung to the tune of Billy Joel’s “We Didn’t Start the Fire.” Apparently it inspired someone to do something similar for Wall Street. It’s not as technically-skilled (natch), but it’s still worth a minor chuckle:[youtube=http://www.youtube.com/w/?v=dE-LDfroa1w home=true]

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Mitt Quits: Nooooooooooo

By Dan Primack — 11 years ago

Bain Capital founder Mitt Romney has decided to quit the race for president, according to Time. This must come as disheartening news to the private equity pros who plugged around $480k into his campaign. On the other hand, at least they get to realize this loss quickly — it’s going to take much longer for […]

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The Take-Private Watchlist

By Dan Primack — 11 years ago

I was supposed to discuss the five buyout deals most likely to fail this morning on CNBC, but WalMart reported earnings in the middle of our conversation. Plus, Jim Cramer was the loquacious guest host, which meant we were already a bit behind schedule (but he expressed sympathy for us getting cut off, which has […]

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peHUB First Read

By Dan Primack — 11 years ago

Some links to kick off your Thursday: * Congress is holding another hearing on the supposed dangers of sovereign wealth funds. * VCs may support Obama, but he lost Silicon Valley. On the upside, he did get San Francisco… * Will the BBC partner with private equity firms? * The Northern Rock “rescue” plan could […]

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5 Questions for Roddy Swire

By Angela Sormani — 11 years ago

peHUB has 5 Questions for Rhoddy Swire, senior partner and founder of Pantheon Ventures, a UK firm that engages in both funds-of-funds and secondary investing: 1. Take us back 25 years, to when you joined GT Management and started sowing the seeds for what we know as Pantheon today. What were the challenges you faced? […]

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Self-Promotion Alert!

By Dan Primack — 11 years ago

I’ll be on CNBC Squawk Box tomorrow morning, to discuss take-privates that may bite the dust. We were originally supposed to do this last week, and in the interim lost Reddy Ice. At least we still have Alliance Data to kick around… Also, just a reminder that I’ll be participating in next Wednesday’s Dealmakers 2008 Outlook […]

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Dawn of Reckoning

By Dan Primack — 11 years ago

The buyout market is at the beginning of its first writeoff cycle in years, as portfolio companies are suffering from the dual dangers of overleveraged balance sheets and recessionary macro trends. The latest dead pool jumper is Silver State Helicopters, a Las Vegas-based flight training school that filed for Chapter 7 bankruptcy protection just five […]

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peHUB First Read

By Dan Primack — 11 years ago

Some links to kick off your Wednesday: * Chuck Grassley says his bill to raise taxes on publicly-traded PE firms is stalled, but he’s moving ahead will efforts to raze offshore tax shelters. * European buyout bigs form their own lobbying group. * Steven Davidoff doesn’t have much sympathy for Blackstone’s position in the ADS […]

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Is the Exit Window Closing?

By Jeff Bussgang — 11 years ago

Microsoft’s unsolicited $44.6 billion bid for Yahoo is an exciting, bold move for the Redmond, WA software giant who is desparately trying to compete with Google for the $800 billion in global advertising dollars, of which only $24 billion will be spent online in 2008 (a rate that is growing at over 20% per year). […]

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5 Questions for David Panton

By Dan Primack — 11 years ago

Navigation Capital Partners today announced that it has acquired a majority stake in Exeter Finance Corp., a Dallas-based company that buys and services nonprime auto installment sales contracts. So we’ve got 5 Questions for David Panton, a partner with Navigation: 1. Exeter describes itself as a “nonprime” auto finance company. Is there any difference between that […]

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Schwarzman Party: One Year Later

By Dan Primack — 11 years ago

Next Wednesday, Steve Schwarzman turns 61 years old. That means it’s been nearly a year since his sixtieth birthday celebration became the symbol for private equity industry excess, and Schwarzman its human face. Anniversaries are a time for reflection, so let’s grab a mirrror… There were basically two groups of critics: Those who considered a […]

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peHUB First Read

By Dan Primack — 11 years ago

Some links to kick off your Super Tuesday: * Marc Andreesen goes contrarian on what MicroHoo would mean for VC-backed startups. * French bank Natixis is suing UK private equity firm Terra Firma: “The pressure-cooker working environment of Guy Hands’ Terra Firma may have driven two executives to conceal a critical error in the cash flow […]

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Mike Makes Mitt Mistake

By Dan Primack — 11 years ago

Mike Huckabee has not gotten much love from conservative talk radio hosts, who instead have leaned toward GOP rival Mitt Romney. And he seemed to offer up a theory as to why, during a recent press conference: Huckabee: “Some suggest that the fact that Bain Capital owns a major stake in Clear Channel… maybe there’s a […]

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VCs Believe in Obama

By Dan Primack — 11 years ago

Leveraged buyout pros may favor Mitt Romney for president, but venture capitalists are supporting Barack Obama. The Illinois senator raised more campaign contributions from VCs in the fourth quarter than did any other candidate, according to a peHUB.com analysis of Federal Election Commission records. It helped boost Obama’s 2007 tally to nearly $157,000, which also […]

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