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DFJ IX Closes: $600M

By Alexander Haislip — 12 years ago

Draper Fisher Jurvetson’s ninth fund has hit its $600 million target, according to a regulatory filing. peHUB had reported last month that the close had been expected to occur at the end of Q1. DFJ IX is 50% larger than its predecessor, and the firm’s largest raise since the $640 million. DFJ had nine of its […]

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The Right Way to Right Size?

By Kelly DePonte — 12 years ago

Though I find myself usually agreeing with Professor Primack, this time I think he has it wrong on the middle market carry issue, both on a couple of points he made as well as some items he passed over. Mega Funds as a threat? In Dan’s hypothetical discussion he has the middle market GP arguing […]

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Sequoia Continues Summit Poaching

By Alexander Haislip — 12 years ago

Sequoia Capital has quietly added former Summit Partners Associate Patrick W. Grady to its team, the third low-ranking Summit employee in the past nine months. Patrick Grady joins former coworkers Alexander Harrison and Scott Carter at Sequoia and will focus on software and services investments. The new Sequoia investor should not be confused with the […]

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Dow Chemical: Dubai Ports World Redux?

By Dan Primack — 12 years ago

Dow Chemical Co. is downplaying buyout rumors, after a UK tabloid reported that KKR and several Middle Eastern investors are prepping a $50 billion bid. A company spokesman says that Dow has “no interest” in a leveraged buyout, because it believes it can provide the most shareholder value by remaining a public entity. Now there […]

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Self-Promotion Alert

By Dan Primack — 12 years ago

Hey Canada: I’ll be on BNN’s SqueezePlay program this afternoon at 5:10 ET, for a conversation about the mega-LBO market. We’ll talk Dow Chemical, fund sizes and more…

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VC Keeps Appealing for Help

By Dan Primack — 12 years ago

Why does Kaj-Erik Relander of Accel Partners look so glum? Probably because he lost an appeal to remove “convicted felon” from his resume. But don’t get too down yet Kaj – you’ve still got one more shot with Finland’s Supreme Court.  Relander, you might remember, was convicted in 2005 of having violated Finnish privacy laws while […]

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The Wrong Way to Right-Size

By Dan Primack — 12 years ago

Buyout firms have begun horse-trading size caps and carried interest on new funds, according to Buyouts Magazine. The article – which I’ve since confirmed independently with several LPs – alleges that numerous firms have raised carried interest on new funds from 20% to 25% (which LPs hate), in a de facto exchange for keeping fund […]

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Sunday Night Silliness

By Dan Primack — 12 years ago

60 Minutes typically closes its segments with a profound statement, or at least one that makes you think. But tonight it ended with a red herring. The source was Anne Lauvergeon, chairwoman of French nuclear energy giant AREVA. She commented that those worried about carbon emissions have just four primary energy technologies from which to […]

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Off For Judging Duty

By Dan Primack — 12 years ago

Apologies for the light posting today, but I’m heading off to judge the semifinals round of a cleantech business plan competition sponsored by MIT. I and two other judges will get pitched by three different companies, includes ones that claim to have: (1) Developed a new process for producing solar-grade silicon; (2) Developed an onsite renewable generation system; […]

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Romney’s Money Men

By Dan Primack — 12 years ago

If there’s one thing that private equity pros know how to do, it’s raise money. So it shouldn’t have been too surprising when former Bain Capital chief Mitt Romney announced that his presidential campaign committee had scored $23 million in Q1 donations. This puts him well ahead of GOP rivals like McCain and Giuliani, and […]

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Stable Returns, Through Good Times And Bad

By David M. Toll — 12 years ago

When it comes to charting U.S. buyout market fund-raising, think Mount Everest. Back in the 1990s, spike-booted U.S. buyout firms raised more and more money every year, almost without exception. By 1998, they raised $55.5 billion, nearly ten times as much as they had raised six years before, in 1992. The year 2000 saw a […]

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Trading Places

By Dan Primack — 12 years ago

Tons of top-level personnel moves in the LP arena this week. The most notable is that Mel Williams of UNC and Edwin Poston of the Rockefeller Foundation have teamed up to form a new shop called TrueBridge Capital. The Chapel Hill-based shop already has begun marketing a VC fund-of-funds with a target of around $250 […]

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Apollo Follows Blackstone’s Lead?

By Dan Primack — 12 years ago

CNBC is reporting that Apollo Management is working with Goldman Sachs on a possible IPO. The New York Times, on the other hand, says it’s all a bunch of hooey. So who’s right? I don’t have a conclusive answer, except to say that I also had heard the “Apollo is meeting with Goldman” story, from a […]

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Document Dump

By Dan Primack — 12 years ago

Just cleaning off the desktop… Goodwin Procter and ACC America recently held a seminar called What’s Behind Door #3: Avoiding Traps When Buying & Selling Companies. Here are the event’s presentations: acc_3_29_07.pdf An advanced materials and energy tech valuation review from WR Hambrecht: energy_tech_review.pdf A whitepaper on Successful Windown and Exit Management, by Bruce Erickson […]

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OBWC Portfolio Sale Nears End

By Dan Primack — 12 years ago

Ohio could certainly use some good news, after the locals got tossed again by Florida in a national championship game. So here it is: The Ohio Bureau of Workers’ Compensation is just weeks away from exiting the private equity market. Hoorah! Ok, I know what some of you are thinking: “Isn’t this a bad thing, given […]

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Tuesday Talkback

By Dan Primack — 12 years ago

The sky is gray, Schilling’s arm was less useful yesterday than Gredenko’s and David Tom is the big winner of our March Madness Extravaganza. In other words, it’s time for some Tuesday Talkback. Today’s edition is entirely devoted to The Blackstone Group IPO, since I haven’t done one of these since they filed. Tons of […]

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SRF GP Shops Around

By Alexander Haislip — 12 years ago

Sevin Rosen Fund General Partner Nick Sturiale is actively looking for a new job and has interviewed with at least one other Palo Alto, Calif.-based early stage venture firm, sources told PE Week. Sturiale’s job search comes about six months after Sevin Rosen halted fund-raising for its 10th fund and proclaimed in a letter to […]

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Q1 ’07: Record Buyout Dealflow

By Dan Primack — 12 years ago

Buyouts Magazine is reporting that Q1 2007 was the busiest quarter on record for leveraged buyouts, with 283 control-stage transactions at a disclosed value of $102.6 billion. The data includes only closed transactions that involve U.S. sponsors and/or U.S. targets. The same period last year saw 248 deals for a disclosed value of just $50.7 […]

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