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Israel Cleantech Inches Forward

By Alexander Haislip — 12 years ago

Israel Cleantech Ventures held a $20 million first close toward its purposed $60 million fund, making it the first Israeli VC firm to raise money for the emerging cleantech industry, co-founder Glen Schwaber told PE Week. Subscribers can read the whole story here. Schwaber, Jack Levy and Meir Ukeles, each of whom is under the […]

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In Praise Of The No-Fee Approach

By David M. Toll — 12 years ago

Deal fees, monitoring fees and exit fees have become big business for buyout firms. Case in point: The Blackstone Group recently paid itself a $200 million deal fee for the $39 billion buyout of Equity Office Properties Trust, keeping half for itself per its deal with limited partners. Surprisingly, a handful of buyout firms decline […]

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The Blackstone IPO Story

By Dan Primack — 12 years ago

I was in New York when Fortress went public, and it easily supplanted the weather as small talk du jour. One of my Buyouts Magazine colleagues kept calling out trading price updates, while most every phone call began with, “Well, whaddya think about that Fortress valuation?” One such call, however was more memorable. A fund-of-funds […]

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Blackstone IPO: Irony, Not Hypocrisy

By Dan Primack — 12 years ago

One of the big storylines to the (possibly) pending Blackstone IPO is that the private equity giant is being hypocritical. Specifically, it is going public while simultaneously telling other public companies that they’d be better off by going private. What’s good for the goose… But this analysis leaves out an important addendum to the “go […]

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Self-Promotion Alert

By Dan Primack — 12 years ago

Update: Video here. I’ll be on CNBC’s Power Lunch program at around 1:30 ET this afternoon, to discuss a report that Blackstone Group is prepping an IPO. Goldman Sachs would be the lead underwriter, and a filing could come within the next several weeks. Assuming this would be an actual IPO of the management company instead of […]

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Big Trouble in Little Delaware

By Dan Primack — 12 years ago

Last November, Bessemer Venture Partners and Insight Venture Partners agreed to acquire enterprise software company Netsmart Technologies Inc. (Nasdaq: NTST) for $115 million. It looked like a typical public-to-private buyout – save for the semi-oddity of venture capital firms doing the buying. No big deal. But certain Netsmart shareholders believed that the $16.50 per share […]

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Secondaries Survey

By Dan Primack — 12 years ago

Apologies, but Almedia Capital has asked us to remove the survey… I’ve written a lot about the difficulties faced by first-time fund managers when raising inaugural funds, and spoke with two such managers yesterday. The gripes were familiar: “Most LPs would rather do follow-on funds with longtime general partners. Why don’t they want to take […]

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Of March (and other forms of) Madness

12 years ago

Every year around this time, I take note of the similarities between the NCAA basketball tourney and the brand of Madness that we like to call Venture Capital. Here’s what I mean. Right now (Tuesday afternoon), I’ve made my hoops selections, and the games themselves have yet to commence. My diligence was extensive, my bracket is now […]

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First Reserve Prez Steps Down

By Dan Primack — 12 years ago

First Reserve president Ben Guill has resigned, peHUB has learned. The move takes effect in April, and comes just seven months after First Reserve closed its eleventh energy-focused fund with $7.8 billion. No successor has been named. “It was really quite stunning to hear,” said one limited partner in the new First Reserve fund. “He’s […]

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Is This New York? No, It’s Iowa

By Dan Primack — 12 years ago

Last week, this space reported that Sen. Chuck Grassley (R-IA) was considering legislation that would result in increased taxes for the private equity industry. Part of the pretext was that Grassley has particular leverage because such a move was unlikely to ruffle any feathers in his home state of Iowa. After all, how often have […]

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Have Breakfast with Tom Peters

By Dan Primack — 12 years ago

Tom Peters, author of legendary biz book In Search of Excellence, has just agreed to give a keynote address at Buyouts Symposium East. And now you and your team can spend some 1-on-1 time with him. If you register for Buyouts Symposium by March 30, you will be entered into a random drawing to have […]

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peHUB Presidential Survey

By Dan Primack — 12 years ago

The presidential season has arrived on Wall Street, with candidates rushing to prostrate themselves in front of financial powerbrokers. You can find out who Henry Kravis, etc. are backing in this New York Observer piece. But we want to know who YOU are supporting. So we’ve put together a nifty little survey that asks three quick questions: (1) […]

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AA Capital Story Gets Stranger

By Dan Primack — 12 years ago

The strange case of AA Capital Partners has gotten stranger – and this time it’s a limited partner that appears to be acting badly. For those who don’t remember, AA is the Chicago-based private equity firm that last September was accused of misappropriating at least $10.7 million from its six union pension fund investors. Specifically, […]

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Apple Doesn’t Need VC

By Alexander Haislip — 12 years ago

Apple, Apple, Apple. It’s a drum the business/tech press loves to beat because it supplies a veritable treasure trove of page views. People love reading about Apple. So it’s no surprise that journalists have taken to speculating on what the iconic company should do with its $12 billion cash stash. BusinessWeek’s Arik Hesseldahl dismisses buybacks […]

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Sun Capital’s 4x Return

By Mark Cecil — 12 years ago

LPs in Sun Capital’s next fund are looking at a different kind of 4x return. Return 4x what you committed to Sun’s last fund. Sun Capital’s latest fund will close on $6B in early April, rocking its $4B target and quadrupling what it raised in 2005. With that, the firm has just joined the illustrious ranks, along […]

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The Uncharitable Rudy Giuliani

By Dan Primack — 12 years ago

In early February, my corporate overlords sent word that Rudy Giuliani had agreed to deliver a keynote address at the Buyouts Symposium East conference in April. It was a big get for us, particularly considering that he was a de facto presidential candidate and had become a near-mythological hero after 9/11. It also was a bit […]

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Europe’s Class War Takes to the Streets

By Amanda Palmer — 12 years ago

Surprisingly, I managed to avoid the protesters last night at Claridge’s for the BVCA Chairman’s dinner in London. But my deputy editor was not so fortunate in Frankfurt at the Superreturn conference where delegates faced around 300 protestors with leaflets that read: “Texas Pacific Group is behind the aggression on female workers and employees of […]

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Cisco Plans VC in Russia

By Alexander Haislip — 12 years ago

Cisco Systems is preparing to invest in Russia and Eastern Europe this year as a limited partner and, potentially, as a direct investor, PE Week has learned. The San Jose, Calif.-based networking giant, which has ramped up international venture activity for the past year-and-a-half, is evaluating funds with Eastern European expertise to potentially invest as […]

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