peHUB Second Opinion 12.8

Ten Years of M&A: It is like walking through the tombstones on a battlefield. WSJ takes a comprehensive look at the past decade of dealmaking. (WSJ)

Hmmm: Goldman’s M&A fees are a lot higher than that of other firms. (WSJ)

Searching For Alternatives! Good news-pension fund allocations to alternatives are increasing, despite what it seems like. (Reuters)

PE is BACK! I write this phrase around thrice a week, it seems, so here’s another pile-on. Private equity is back-with a vengeance-and doing things that were “unthinkable” six months ago. (Seeking Alpha)

Target Time: PE Firms continue to salivate over Dubai World Assets. (Maktoob Business) Starting with the New York W Hotel in Union Square. (Dealbook)

We Didn’t Start the Fire: I love Epicurean Dealmaker for posts like these; this one plainly states that buyout barons didn’t cause the country’s financial collapse, but contributed to it:

While it is true that many of these would-be Captains of Industry did purchase companies at preposterously high valuations in 2006 and 2007 at the orgiastic climax of the Sino-Greenspan credit bubble, the most the majority of these hapless boobs can be accused of is getting their wee-wees caught in the woodchipper of mistaken opportunity

Like many other participants in the Great Financial Clusterf*** of 2008, private equity professionals helped make things worse for everybody through the unholy combination of personal greed, institutional incentives toward excessive debt, and general shortsighted arrogance, but they did not cause the crisis. (Epicurean Dealmaker)

Listicles: This list of “The 10 Strangest Mutual Funds” seems innocent and clever enough, except number ten, The Women’s Leadership Fund. It’s a fund that will focus on companies that have significant female representation in their leadership teams. What’s so “strange” and even “oddball” and “eccentric” about that? I don’t know. I’m particularly annoyed by the rando “expert” they brought in to talk down the fund’s potential returns. Irresponsible. (US News & World Report)

Deal Professor: More Excerpts from the Deal Professor’s new book, “Gods at War: Shotgun Takeovers, Government by Deal and the Private Equity Implosion.” (Dealbook)