Soap Opera Edition: Desperation, power grabs, money hoarding, name changes, and tired jokes.
Reuters: Lehman’s Neuberger sales “smacks of desperation,” an analyst suggests.
FT: Meanwhile, the private equity arm of another bank that’s already failed, Bear Stearns, is staying intact, albeit with a new name. Introducing JPMorgan Private Equity.
The Deal: We’ve talked about niches, and specializations, and even exotic new investment opportunities like water rights or film royalties. Buyouts even made a joke about mid-sized Russian infrastructure funds in its cover story last month. But The Deal’s story on wine-industry focused mezzanine lending takes the cake.
Dealscape: Further proof of Dan’s theory that LPs are capitalizing on their situational advantage over GPs. I disagreed with this, since I don’t see LPs as hungry for the power grab at every chance they get, but it seems more proof is showing up against my image of altruistic LPs. Naïve, I know. As reported by Dow Jones.
Dealscape: Speaking of the ball being in anyone but an LBO shop’s court, ya’ll are sitting on a pile of cash right now.
Wall Street Folly: Goldfinger’s back.
Dealbreaker: That crab hands joke never gets old for these guys.
Deal Professor: On the Hexion/Huntsman trial, the longest (and possibly smartest) liveblog I’ve ever read. I thought these things were supposed to be able to fit in a Twitter tweet.