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PE Performance Matches the Hype

By Dan Primack — 12 years ago

Private equity has historically outperformed the S&P 500, but critics often argue that the advantage disappears once fees are taken into account. In other words, it’s a narrow edge that might not justify the risk. Over the past year, however, private equity firms have been doing their darndest to remove risk from their equations — […]

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My Conference is Bigger Than Yours

By Larry Aragon — 12 years ago

VCs have always frequented conferences. Now they’re getting into the conference business themselves. Sequoia Capital is teaming up with TechCrunch to do a conference (Jason Calacanis is spearheading it). Now comes word from Matt Marshall that David Hornik of August Capital (pictured on the cover of VCJ) is organizing a nonconference – conference in Hawaii […]

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No Choice But to Sell

12 years ago

“Sell.” This is often my first thought when I see take-private offers announced (strategic or financial), and that was again the case with this week’s big deal. In an offer clearly designed to discourage any competition, News Corp. bid for Dow Jones the way the Rangers bid for A-Rod. It made me think of the old […]

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U.S. Foodservice Deal Details

By Dan Primack — 12 years ago

Royal Ahold NV today announced that it has (finally) agreed to sell its U.S. Foodservice distribution unit to KKR and Clayton, Dubilier & Rice for $7.1 billion. What it didn’t announce, however, were any other financial details. So here they are: The total transaction price includes $2.6 billion in equity and $4.5 billion in funded debt, […]

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Fred Anderson = George Tenet?

By Dan Primack — 12 years ago

Is Fred Anderson the financial equivalent of George Tenet? I think he might just be. For the uninitiated, Anderson is the former Apple CFO who currently is a managing director with Elevation Partners. He recently agreed to pay back the SEC a few million dollars to settle an options backdating suit (without admitting guilt), and […]

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How To Make Murdoch/DJ Story Relevant?

By Dan Primack — 12 years ago

For the first time in a long time, the day’s big financial story has nothing to do with private equity. That story, of course, is Rupert Murdoch’s $5 billion (opening) bid for Dow Jones. But could it have something to do with private equity? Could there be rival bidder? The smart money says “no,” given […]

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Segway Series C Stalls

By Alexander Haislip — 12 years ago

Joanna covered Segway, the personal transportation company, in January, reporting that the company was seeking to raise $20 million in its Series C. It had raised $10.2 million at that point. In the three months since then, the company has only managed to add $5.5 million to its coffers, leaving it still nearly 25% away […]

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The News is News

By Larry Aragon — 12 years ago

Old media is getting a fresh look from private equity investors. Today, Rupert Murdoch’s News Corp. made an unsolicated bid of $5 billion for Dow Jones. The family that controls DJ said it rejected the bid, but that doesn’t diminish the significance of the offer. It comes as Internet billionaire Mark Cuban appears on the […]

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Back in Boston by BIO

By Dan Primack — 12 years ago

Apologies for the light posting today and (preemptively) tomorrow — but I’m stuck in New York for a variety of biz meetings. But I do plan to be back in Boston for the start of the 2007 BIO Convention, which is taking place just down the street from my spacious cubicle. I expect to be […]

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Stub Secondaries?

By Dan Primack — 12 years ago

The proposed Harman buyout has prompted lots of nattering about “stub equity” and other such incentives designed to prompt shareholder approval of public-to-private buyouts. One possible ramification I haven’t seen mentioned yet, however, is that such deals could help spur further growth of the direct secondaries market. After all, I don’t quite see mutual funds […]

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The Unspoken Risk In Private Equity: Part II

By David M. Toll — 12 years ago

Most institutional investors, I imagine, are sympathetic to the plight of buyout professionals facing the prospect of paying higher taxes on carried interest. They recognize that a big reason so many bright people have migrated to private equity is that no where else (other than the hedge fund business, perhaps) can they get so wealthy […]

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Right Media Does Right by Redpoint

By Joanna Glasner — 12 years ago

Redpoint Ventures is the latest VC firm to profit nicely from media acquirers’ seemingly bottomless appetite for digital advertising assets. The Silicon Valley firm is the sole venture stakeholder in Right Media, the developer of an exchange for buying online ads that just sold its remaining shares to Yahoo for approximately $680 million in cash […]

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VeriVue Sees Way to $25 Million

By Dan Primack — 12 years ago

The last time Paul Ferri and Todd Dagres backed Jim Dolce, they hit a homerun with communications equipment provider Redstone Communications. So it’s no surprise that the pair is back on board for Dolce’s latest startup – a stealthy endeavor known as VeriVue Inc. Ferri is still a general partner with Matrix Partners, while Dagres […]

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Anne Gordon Goes from Newsroom to Boardroom

By Dan Primack — 12 years ago

I often get asked why I haven’t jumped over to the investing side of things, where the pay is better and… Well, where the pay is better. My response is usually a variation of Woody Allen’s line about never joining a club that would allow a person like him to become a member. After all, […]

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Document Dump

By Dan Primack — 12 years ago

Just cleaning off the desktop… * A sizable minority of private equity firms are not paying much attention to internal management issues, according to survey results from RHR International and MergerMarket. For example, a stunning 15% of firms do not regularly assess the performance and development of their own staff (I know that 85% do so, but anyone not […]

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Five Myths of Being Small

By David Tom — 12 years ago

My employer, VCFA Group, was the first firm formed to purchase private equity interests on a secondary basis and has raised approximately $750 million over the course of its 25-year history. At a time when other secondary firms are closing on multi-billion dollar funds (Goldman’s latest secondary private equity fund was in excess of $3 […]

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Venture Capital Returns to Form

By Dan Primack — 12 years ago

Venture capital performance showed modest improvement through year-end 2006, according to new data released this morning by the National Venture Capital Association and Thomson Financial (publisher of peHUB). In particular, five-year performance moved from negative to positive territory (-1.2% to +1%), over data through the end of Q3 2006. No specific explanation is given for […]

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The Quick & Dirty on Cleantech

12 years ago

More than a year in the making, the team at Lux Research this morning released the key findings for The Cleantech Report, its 600+ page authoritative study on energy and environmental technologies (Full disclosure: I’m a founder of Lux Research and my venture firm Lux Capital is an investor). Some quick highlights from the study:Cleantech’s undiscovered gem […]

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