Scoops & Analysis

peHUB Second Opinion

By
Erin Griffith
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Carl. Icahn. is. blowing up. the Internet.

Speaking of blogging: Ideological wars on the Internet: Frivolous, self-indulgent waste of time, or worthwhile modern day public discourse? You decide. (Ironic for a blogger to ask that question, I know.)

* In news occurring outside of cyberspace, TA Associates is busy selling. In the past two weeks the firm’s sold two companies they bought in 2005… Check out the next edition of Buyouts for an in-depth look at their sale of Creditex Group to a former portfolio company. The firm made a higher than 50 percent IRR on that deal. Then today it announced the sale of Preferred Freezer (another company they purchased in 2005) to Fenway Partners. The dual exits probably don’t mean fundraising time though—the firm is investing from a fund that’s just halfway deployed.

* TA’s not the only one scoring big exits. According to Deal Journal, Platinum Equity just banked around 25X their money selling PNA Group, a steel company it bought in 2006. Considering the firm had plans to float a small portion of the business before buyer Reliance Steel came along, this is one case of the weak IPO market working out in private equity’s favor.

* Here’s a few takes on social responsibility in the biz world:

* TowerBrook Capital Partners had a first close on $1.7 billion according to LBO Wire. That’s up from the $750 million Buyouts reported last month.

* According to Epicurean Dealmaker we (and by we, I mean the media) are being way too sunny about the M&A outlook.

* You’re Fired: With all the cost cutting and layoffs on Wall Street, the remaining analysts at Goldman (you know, the ones not on the “”accelerated one-year analyst program” might be tempted to send this SomeECard to their less fortunate colleagues.

* While you’re at it, direct them to DealBreaker’s Guide to Getting Laid Off.

* And lastly, I’m open to monitoring any and all business-related blogs for PE-related posts, so if any of you dear readers care to submit suggestions (or shamelessly ask me to read your blog), send ‘em my way. Erin.griffith@thomsonreuters.com