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David Rubenstein: Published Author?

By David M. Toll — 11 years ago

I’ve never really liked those lists of recommended books that Amazon.com, based on my past purchases, conveniently supplies on my log-in page. Hey, maybe I’ve moved on from my obsession with model trains to a passion for medieval English gardens, OK? But some good came from the feature this week when the online retailer figured out […]

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Kravis Wraps Up CVCA Conference

By Alastair Goldfisher — 11 years ago

Canada’s Venture Capital & Private Equity Association (CVCA) ended its annual conference today and President Rick Nathan is already looking forward to next year’s gathering, which will be held in Montreal. One of the bright spots at this year’s event, held in Halifax, Nova Scotia, was the amount of investors the conference attracted. More than […]

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Index Looks Smart (Again)

By Alexander Haislip — 11 years ago

Index Ventures has turned its $5 million investment in social-networking/music site Last.fm into a $280 million acquisition by CBS — yet another proof point that the European firm is knocking the cover off the ball. Index did well on its last two funds, recording returns of more than 30% for each vehicle, according to data from the California […]

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“Why Don’t You Cover Us?”

By Dan Primack — 11 years ago

I get asked that question all the time, and the usual answer is that I didn’t see the news item or it doesn’t fall within my editorial balliwick. For example, it’s great that Johnny Johnson got promoted to manager of the Chuck E. Cheese in Toledo, but it’s really more appropriate for someone else. But this post is […]

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Self-Promotion Update

By Dan Primack — 11 years ago

I was on CNBC’s Squawk Box this morning to discuss Alan Murray’s new column, on how SEIU president Andy Stern is bashing private equity firms in public, and cozying up to them in private. It’s really spot-on, and worth a read if you can get behind the WSJ firewall. Unfortunately, Alan had some sort of […]

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Compensation at VC-Backed Companies

By Dan Primack — 11 years ago

Fresh off the rousing success of their Term Sheet series, the guys at AskTheVC have begun tackling the issue of compensation at VC-backed companies. This is must-read stuff for any entrepreneur in the process of raising venture capital, or who already has raised venture capital. After all, who else are you going to ask if you’re […]

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Ares Sells a Piece of Itself

By Dan Primack — 11 years ago

Three weeks ago, peHUB broke news that Ares Management was in the process of selling part of its management company via a private placement. Now it’s done. The Los Angeles-based firm announced today that it has sold a minority ownership position to an undisclosed overseas investor for $375 million. No additional terms were disclosed, but […]

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Self-Promotion Alert

By Dan Primack — 11 years ago

I’ll be on CNBC’s Squawk Box program tomorrow morning just after 8am EST, to discuss the multi-faceted relationship of private equity and organized labor. Regular readers know my general thoughts: Unions – particularly SEIU — are asking for various legislative items that are inherently unenforceable (post-deal labor plans, for example), while PE firms ignore unions at […]

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They Don’t Mean It

By Dan Primack — 11 years ago

The Wall Street Journal today asks if the private equity deal frenzy is nearing its end, and then quotes private equiteers who answer affirmatively. But it neglects to add a colossal qualifier: They don’t mean it. In most cases, it’s just lip service. Like when Red Sox players say that they’re still worried about the Yankees […]

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Firm Future Is Childs’ Play

By Dan Primack — 11 years ago

Mid-market buyout firm J.W. Childs lost a pair of top execs last week, when president Dana Schmaltz and partner Ted Yun announced their resignations. The moves follow last year’s departure of co-founding partner Steven Segal, and really seems to put the firm’s future in the hands of 65-year-old John Childs. The Boston-based firm pre-marketed its […]

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A Swift Exit

By Dan Primack — 11 years ago

Late last year, Swift & Co. made national headlines after federal immigration agents conducted a six-state, simultaneous raid on six of the company’s beef and pork processing plants. Around 95% of the arrested workers were charged with some form of immigration violation – either in the U.S. illegally or unable to produce proper documentation — […]

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From the Colbert Report to Attributor

By Marco DeMiroz — 11 years ago

In a recent New York Times article, Viacom CEO Philippe Dauman sounded exasperated: “Every day we have to scour the entirety of what’s available on YouTube, so we have to look for our stuff,” and added, “It is very difficult for us and places an enormous burden on us.” This overt frustration is not limited […]

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North Bridge Looks West

By Dan Primack — 11 years ago

Running out of here to begin enjoying the long weekend (really, why are you even reading this?), but a quick personnel note of interest: Basil Horangic has left Austin Ventures, in order to help launch a Silicon Valley office for North Bridge Venture Partners. Horangic has been with AV for around six years, including the […]

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Adderton: “I’m Still CEO”

By Dan Primack — 11 years ago

Reports of Peter Adderton’s demise have been greatly exaggerated. In an exclusive interview with peHUB, the Amp’d Mobile CEO says that he remains in charge of the company, despite numerous blog reports suggesting otherwise (see here, here, here and my piece from this morning). He does, however, also acknowledge that the company is in the […]

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Compliance Trumps Complaints

By Dan Primack — 11 years ago

David Toll took some time earlier this morning to discuss fair-value accounting, which is something that private equity firms have assiduously avoided for years. Instead, most firms just carried portfolio companies at cost until liquidity – believing that conservatism was the most responsible course of action. Plus, low expectations are easier to exceed. Last September, […]

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The Adderton Rumor

By Dan Primack — 11 years ago

Three weeks ago, I got a tip that Peter Adderton was out as CEO of Amp’d Mobile, a mobile virtual network operator that has raised over $350 million in venture capital. I made two calls. First to Adderton himself, who told me that the rumor was untrue. “If I’m leaving, no one told me,” he […]

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Asia Cash Moves Down Under

By Amanda Palmer — 11 years ago

Private equity houses are planning to invest an estimated £25bn in Asia, but some have found it difficult to do major transactions in China and India. Both countries have proven resistant to advances from buyout funds, largely restricting their involvment to minority stakes in unimportant companies. As they look further afield for better deals, Australia […]

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Buyout Firms Finally Confront Fair Value

By David M. Toll — 11 years ago

Say a recession comes, slashing the value of portfolio after portfolio. How long will it take limited partners to see blood spilt on their financial statements? Unfortunately, it could take quite a long time. Many buyout firms still hold investments at cost for at least a year or more unless a subsequent financial transaction justifies […]

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