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PCG Trio Still Leaving

By Dan Primack — 12 years ago

Update-A-Palooza  There will be no last-minute reconciliation between Pacific Corporate Group and the three managing directors who resigned last week over compensation concerns. The two sides spent much of the weekend in negotiations, but to no avail. I can’t say whether the salary demands of Monte Brem, Tara Blackburn and Steve Moseley were appropriate or […]

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Thursday ThrowBack

By Dan Primack — 12 years ago

The sun is shining, oil prices are sinking and Yankee fans get two weeks to gloat/celebrate before getting smacked in the playoffs (Me bitter? You bet). In other words, it’s time for some Thursday ThrowBack. First up is yesterday’s lament that former Gillette chief Jim Kilts got a plum private equity gig. Specifically, I oppose […]

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Scandal (and I don’t mean HP)

By Dan Primack — 12 years ago

The SEC has received a temporary restraining order against AA Capital Partners, after alleging that the Chicago-based private equity firm had misappropriated at least $10.7 million from its six union pension fund clients. More specifically, the SEC charges that AA Capital used the fraudulent guise of capital call-downs to cover such expenses as private jet […]

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Just Linking Around…

By Dan Primack — 12 years ago

I spent yesterday stuck first in the hand-me-down VW, and then in meetings. So just some reading suggestions to begin your day…  *** Brad Feld and Jim Lejeal continue their Board Meeting series, by asking “How many board meetings should a VC-backed company have?”  *** Lots of buzz around Yahoo’s disappointing online ad sales results, […]

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Land Rover In Play

By Dan Primack — 12 years ago

Ford today announced a giant restructuring, with the big news being voluntary buyouts of hourly workers. It also said that it would not sell off any brands until new CEO Alan Mulally had been given a chance to review potential offers. Well, I can tell you that San Francisco-based Citron Capital has made a formal […]

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More PCG Trouble

By Dan Primack — 12 years ago

Private equity consultancy Pacific Corporate Group is volcanic. It and its leader Chris Bower erupt from time to time, with senior managers flowing away like hasty lava. Boom.  Sources tell me that PCG this week has lost three top pros from its asset management group, which advises public pension systems on private equity fund commitments. They […]

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Publicly-Funded Art?

By Dan Primack — 12 years ago

The following column contains a number of synonyms and euphemisms, for the purpose of getting through your “canned ham” filters. Apologies for the inconvenience…  Earlier this week, the producer of “Women Gone Wacky” pled guilty to violating federal laws related to the exploitation of children (he didn’t keep proper records of his booze-impaired actresses). He […]

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Just Linking Around…

By Dan Primack — 12 years ago

Today’s column just fell apart, which led to yelling (at no one in particular) that startled a dog walker outside of the home office in Framingham. So I’ll let others pick up the slack until tomorrow…  *** CalPERS is using a two-year-old private equity disclosure law to withhold information about political contributions from venture capital […]

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Random Ramblings: Cortina, Cilion & More

By Dan Primack — 12 years ago

Cortina Systems yesterday announced that it had raised $132 million in fourth-round venture funding, in order to help finance its $115 million acquisition of Intel Corp.’s optical network components business. Since this is the third-largest VC deal of the year — following ClearWire and Cilion — a few notes are in order:  I initially assumed that […]

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More NYC Pension Changes

By Dan Primack — 12 years ago

A couple of quick New York City pension system updates. Two sources tell me that Horatio Sparkes – who recently resigned as deputy comptroller for pensions – will be taking an investor relations gig with Yucaipa Cos. He will be succeeded by Joseph Haslip, who had been his number two. Still no word on who […]

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Intel Capital Cuts Coming

By Dan Primack — 12 years ago

Corporate employees are rarely fired. They get laid off, become redundant or accept voluntary (wink, wink) buyouts. For Intel Capital, the operative euphemism is “efficiency.” Want me to use it in a sentence? Ok, the “efficiency program” at Intel Capital likely will result in between 15% and 20% of its investment directors being fired.  This […]

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Random Ramblings: NYC, Oris Capital & More

By Dan Primack — 12 years ago

Seven weeks ago, I devoted a column to the New York City pension system’s appalling lack of qualified private equity managers. Specifically, the system – a collective of five separate systems – had just two dedicated managers overseeing $3.09 billion in commitments. One was Timothy Kelly, while the other apparently just had an X on […]

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Thursday Throw-Back

By Dan Primack — 12 years ago

The sun is shining, the entire HP board should have followed Tom Perkins’ lead and the hand-me-down Volkswagen has decided to mimic the once-trusty Pontiac. In other words, it’s time for Thursday Throw-Back.  First up was yesterday’s discussion of the lawsuit filed by two co-founders of Rapt Inc., against venture capital firms Accel Partners and […]

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Will Accel & Levensohn Get Rapt?

By Dan Primack — 12 years ago

It’s an age-old story: Entrepreneurs meet VCs. VCs fund entrepreneurs. Entrepreneurs’ get washed out. VCs get sued by entrepreneurs.  The latest chapter is being written by two co-founders of Rapt Inc., a San Francisco-based provider of price optimization and profitability management solutions. They are suing Rapt backers Accel Partners and Levensohn Venture Partners – plus […]

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Random Ramblings: Draper Atlantic, Apax & Ben Stein

By Dan Primack — 12 years ago

Just some notes as I combat jetjag, following a weekend wedding in Los Angeles…  *** Draper Atlantic Ventures seems to have lost its Draper. The firm just began marketing for its $200 million-targeted third fund, under the name New Atlantic Ventures. It also has launched a new website that contains no mention of its original […]

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Want To Buy Ford?

By Dan Primack — 12 years ago

Now that the silly Microsoft buyout talk is behind us, let’s move on to another target: Ford Motor Co., which began trading today at just $8.25 per share. For context, Toyota opened exactly $100 per share higher. The most basic problem is that Ford poured too much R&D into its gas-hungry truck and SUV division, […]

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Random Ramblings: Embryonic & “Cancer” Stem Cells

By Dan Primack — 12 years ago

Venture capitalists have been unfairly maligned by those who oppose federal funding for embryonic stem cell research. Such criticism was particularly harsh in California, where many notable VCs helped lead passage of a $3 billion bond bill that will provide around $300 million per year for in-state stem cell research. The basic whine goes like […]

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Monday Mouth-Off

By Dan Primack — 12 years ago

The sky is gray, the beloved Red Sox are done (in Theo we blame) and I’m refreshed after a weekend on Cape Cod. In other words, it’s time for some Monday Mouth-Off.  Today’s edition is devoted to last Wednesday’s discussion of James Surowiecki’s latest New Yorker column. In short, Surowiecki had argued that management buyouts are fundamentally […]

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