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Romney Retains Private Equity Stakes

By Dan Primack — 11 years ago

Presidential candidate Mitt Romney and his wife Anne are worth between $190 million and $250 million, according to personal financial disclosure documents filed yesterday with the Federal Election Commission. This includes a substantial “allocation” to private equity, with most of it going to funds managed by Romney’s former colleagues at Bain Capital. You can download the […]

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What the &*?#@ Happened with KickApps?

By Dan Primack — 11 years ago

A former editor used to refer to what follows as “inside baseball” — and suggested that most readers could care less. So feel free to move on, and assume there is nothing to see here. But for the more voyeuristic… Yesterday I reported that a company called KickApps had raised $20 million in Series B […]

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Answer Key: Golden Gate & Altarock Energy

By Dan Primack — 11 years ago

Last week I asked a pair of quiz questions. Here are the answers: Q: Can you name the West Coast buyout firm that just raised its fundraising target to $5 billion? Hint: It doesn’t do cleantech, but you would be forgiven for thinking that it did. A: Golden Gate Capital, which previously had been considering a […]

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KicksApps Scores $11 Million

By Dan Primack — 11 years ago

Update: The original post incorrectly stated that KickApps had raised $20 million in Series B funding. It seems that the $20m figure — which seemed confirmed by this SEC filing KickApps.pdf — included the Series A, Series B and some venture debt. Apologies for the error.  KickApps, a developer of social networking tools for existing websites, has raised $11 million […]

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Blackstone Reports, You Decide

By Dan Primack — 11 years ago

The Blackstone Group this morning released its first set of quarterly financials since going public. The short story on the private equity front is that revenue was up and investment was down. The context is that all of the data is from a quarter that ended just prior to the credit crunch — so it’s unclear how […]

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Is $21.7 Billion PE’s Answer to 756?

11 years ago

Typical Blackstone, which finally closed on its mega $21.7 billion dollar fund, the same week Barry Bonds broke the most coveted record in American sports. (Did Goldman send a taped video message congratulating them?). Hats of to them and the fact that it is pretty amazing that Blackstone has been able to raise close to $67 […]

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SEIU Continues To Commit

By Dan Primack — 11 years ago

The Service Employees International Union has become one of private equity’s sharpest critics, but nonetheless continues to invest in the asset class. It is hypocritical? Yup. Is it in the best interests of its members? Yup. Oh, and it’s also kind of confusing. When SEIU launched its Behind the Buyouts campaign earlier this year, a […]

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Instant Nostalgia

By Dan Primack — 11 years ago

As the public markets continue to tank, a quick reminder of how much private equity firms overpaid during the good times. Here are the average U.S. take-private premiums for the first half of 2007: Offer price compared to target price 1 week prior to buyout announcement: 22.5% Offer price compared to target price 4 weeks […]

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Tom Lee Gets Served

By Dan Primack — 11 years ago

Remember when everyone was content to lay the blame for Refco’s collapse at the feet of corrupt CEO Phillip Bennett? It was like the age of semi-innocence. Bennett will go on trial next March, but not everyone seems to believe he was a master grifter. Instead, lawsuits are being filed between various parties who believe […]

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Equity Firms Buying Debt?

By Dan Primack — 11 years ago

I was recently asked if the current credit mess would force certain private equity firms out of business — like what’s happening in the hedge fund world. I responded negatively, because private equity firms typically don’t actually hold the leverage on their deals. That’s on the banks and anyone the bank was able to syndicate out […]

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Great Debates: West Coast Edition

By Dan Primack — 11 years ago

Some of you might remember that I moderated something called “The Great Debates” at Buyouts East earlier this year, in which Kevin Conway of CD&R and Andrew Sorkin of the New York Times duked it out. Good times. Well, I’ll be participating in the West Coast version on November 14 at the Fairmont Hotel in […]

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Bush Enters Carried Interest Fray

By Dan Primack — 11 years ago

President Bush today made his first public comments on the carried interest tax debate, during a morning press conference. Other White House officials — including Tony Snow and Hank Paulsen — had previously indicated the president’s opposition to changing carried interest tax treatment from capital gains to ordinary income, but the bossman had stayed mum. Here’s […]

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GreatCall Rings Up $36 Million

By Dan Primack — 11 years ago

Venture capitalists often use their children to help assess new technologies. Maybe some are also using their parents. peHUB has learned that GreatCall Inc. recently raised around $36.6 million in venture capital funding, from Charles River Ventures, Nauta Partners and Steelpoint Capital Partners. The Del Mar, Calif.-based company provides mobile phones and services for people who still […]

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More Auto Parts Acquisitions

By Adrian — 11 years ago

I just read this news: The Carlyle Group and Onex Partners have completed their acquisition of Allison Transmission from General Motors Corp., for $5.575 billion. The $1.5 billion equity tranchewas split evenly between Carlyle and Onex, while current Allison president Lawrence Dewey has become CEO of the newly-independent company. It led me to wonder whether […]

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Blackstone (Finally) Closes Record Fund

By Dan Primack — 11 years ago

The Blackstone Group has completed the largest – and one of the longest – fundraising drives in private equity history, by closing its fifth fund with $21.7 billion in capital commitments. Thank goodness, because my regular queries to Blackstone reps had become a variation of the tiresome “Are we there yet.” Blackstone began raising this fund […]

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AMT Effect on Carried Interest

By Dan Primack — 11 years ago

I suggested a few weeks back that the carried interest tax bill looked dead on arrival, due to near-unified GOP opposition and rapid back-peddling by some key Democrats. This also held true for various hybrid schemes, including one that mimicked the 60/40 rule and another that would consider the length of time a security was […]

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Coworker Promotion Alert

By Alexander Haislip — 11 years ago

Joanna Glasner, VCJ’s awesome Senior Editor, is moderating a panel Wednesday night that promises to be worth watching. She’ll be discussing venture capital trends with four of the nation’s top investors: KP’s Trae Vassallo, DFJ’s Jennifer Fonstad, Canaan’s Maha Ibrahim and Greylock’s Eve Phillips. The event is run by the Girls in Tech, a new […]

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Self-Promotion Alert

By Amanda Palmer — 11 years ago

I will be on CNBC Europe’s Squawk Box program tomorrow morning at 7:30am GMT. We’ll be discussing Thomson Financial’s Mergers & Acquisition Snapshot for July 2007, and how the debt crisis will affect LBOs.  

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