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Moving Down Market

By Dan Primack — 13 years ago

Until quite recently, conventional wisdom was that the best buyout bang came from middle-market bucks. Part of the rationale was that middle-market firms used to get more proprietary dealflow than did their bigger brothers, but the primary justification was found in fund returns data. Unfortunately, much of that data mistakenly used modern standards to determine fund […]

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Voting with Greenbacks

By Dan Primack — 13 years ago

Among those closely watching tonight’s election results will be the National Venture Capital Association, which contributed over $1 million to candidates and causes during the 2005-2006 cycle. The checks were written on behalf of VenturePAC, a political action committee funded by NVCA members. To see how VenturePAC has been spending its money, take a look […]

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Roots of the Problem

By Dan Primack — 13 years ago

Maurice Gunderson is looking to become a roots investor. This is different from a seed investor or early-stage investor, since both of those refer to the age of prospective portfolio companies. What Gunderson wants to do is examine the root causes of an energy industry dilemma, so that the larger market can flourish in the […]

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Mega Funds with Nostalgia?

13 years ago

I’ve heard that TPG is starting a “small buyout fund” or a mid-market fund. We’re not investors, but I would think LPs would be troubled unless they are adding some kind of new team under the TPG brand (which would be a separate issue, and something the Draper folks might have an opinion on). I […]

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Risky Business??

13 years ago

When you look at the classic risk-return charts presented by general consultants, private equity is the proud resident of that top right quadrant – often so far out there it appears lonely. Why does this matter or why should we care? Well, it is this perception of private equity that determines its positioning inside investors’ portfolios. Today, […]

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BFE – Best Flip Ever?

13 years ago

It’s difficult to imagine what the group did to pretty-up Hertz for a public sale in that amount of time. So is this yet another complaint about mega-funds flipping companies while adding little value? No, because as Canada Bill Jones famously said, “it’s immoral to let a sucker keep his money.”

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VCs and the Public Markets

13 years ago

I’ve always thought that entrepreneurs don’t really understand VCs, and I’ve always been SURE that (most) VCs don’t understand investment bankers and the public stock market. So I guess I wasn’t all that surprised when I heard two opposing comments from different life sciences VCs at a recent conference. The first argued that today’s public […]

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Silver Lake, G&H raising new funds

By Lawrence Aragon — 13 years ago

SAN FRANCISCO – I picked up a couple of tidbits moderating a fund-raising panel on the mid-market at today’s Buyouts West conference. During a discussion of tech buyout funds, one panelist who should know said there are about 20 such funds in the market right now. Most notably, Silver Lake Partners is said to be […]

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PCG Loses Another MD

By Dan Primack — 13 years ago

Updated: 11/7, 9:30am When Boston law firm Testa Hurwitz began disbanding in late 2004, I used a dry-erase board to keep track of all the comings and goings. Maybe it’s time to bring the board back for Pacific Corporate Group, which is down yet another managing director. This time it’s Michael Underhill, thus bringing the […]

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Hot Off The Presses…

By Alastair Goldfisher — 13 years ago

This week’s issue of Private Equity Week once again uncovers the news in the private equity and venture capital industry. For example, Dan Primack takes a look inside Charles River Ventures. The VC firm has launched a small loan program that will lend needy startups some dough instead of supporting them in a traditional equity […]

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Apax Co-CEO Quits

By Dan Primack — 13 years ago

Allan Karp has resigned as co-CEO of Apax Partners U.S., according to multiple sources close to the firm. The move comes just two months before a final close is scheduled for Apax Excelsior VII, and will be exacerbated by the simultaneous resignation of U.S. consumer and retail group head Chris Reilly. Apax isn’t commenting publicly (both […]

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Large-cap Buyout Binge Implications

13 years ago

After sorting through about ten potential launch topics, I decided to write my first post on the growing concentration in mega and large-cap leveraged buyout funds in the U.S market. One could make a convincing argument that the returns from this small group of funds will be less variable than the returns from the broader […]

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Open for Business

By Dan Primack — 13 years ago

Four years ago, I launched a daily email publication called the PE Week Wire. It had a development budget of $0, and about 45 minutes of forethought. In fact, my group publisher didn’t even know it existed until a few days later. Today, the PE Week Wire has well over 30,000 subscribers. This website – called peHUB – has taken […]

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LPs Co-Investing

By Jeffrey Walker — 13 years ago

We have found that a number of our limited partners have created very professional groups to co-invest with us in deals. These groups are so responsive that we can approach them quickly, and have them take significant co-invest pieces of our deals — whereas in the previous years we might have brought in another private […]

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North Bridge Moves Into Growth Equity

By Dan Primack — 13 years ago

In yesterday’s PE Week Wire, I asked readers to name the Boston-area VC firm that is launching a sponsored growth equity fund. My hint was to “look up.” OK, apparently not a great hint – since no one got it right. The correct answer is North Bridge Venture Partners, the venerable Waltham, Mass.-based firm that has made […]

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Lagging Indicators

By Dan Primack — 13 years ago

Thomson Financial and the NVCA on Monday released their latest private equity performance numbers, and I’m trying to analyze them in the context of Sevin Rosen’s “VC model is severely damaged” argument.I see some validation for Steve Dow & Co., and also some contradiction (between Dow and the numbers, not between Dow and this company). Dow believes […]

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Random Ramblings: Clear Channel & More

By Dan Primack — 13 years ago

Some quick hits before embarking on the return trip from Portland, Ore. to Boston… *** Today’s big LBO deal news is the possibility that Clear Channel could go private for around $18.5 billion. There are lots of angles of this deal worth discussing – high leverage multiples, family management control but not financial control, a […]

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PE Activity in Central America (CableTV)

By Adrian — 13 years ago

I wanted to share with other fellow readers a recent transaction closed by our investor group ($250M+ EV) in the cable & broadband industry in Central America. There has been some intense activity in this sector with other funds managed by Carlyle, Warburg Pincus, Cinven, Fintech that is worth a look. REsults by public cable […]

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