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peHUB Second Opinion 9.22

At Work, Are You Trustworthy?

A Financier Peels Back the Curtain: More from Guy Hands, on attrition in the buyout industry, the problem with EMI, and a number of other PE-related thoughts. (NY Times)

Dealscape isn’t as jazzed about the article as others seem to be, and I kinda agree (as, for those frequenting the conference circuit, the interview is no wild revolution in thought leadership. Not to say I don’t think Guy Hands is an interesting guy.) (Dealscape)

Pessimism in private equity: Almost half of private equity chiefs believe their investors will refuse to meet legally binding commitments to supply the cash for new deals at several high-profile buy-out houses, according to a survey published on Wednesday. (FT)

Fooled By Fees: Is it possible that some investors are “fooled” into investing in buyout funds?  (All About Alpha via Abnormal Returns)

Sorry Felix: But stop already! In a blog, Mr. Salmon once again rants over how ridiculous and horrible the debt on the Warner Chilcott deal is, when in reality it is a delevering deal. The refi will be used to pay down debt! In terms of the deal gathering excitement for the lending world to begin gathering steam again, it’s a red herring. (Reuters)

Wall Street: Obama should have criticized the ratings agencies more than just “Wall Street.” (New Yorker)