In a surprise (for me), peHUB readers have chosen Mitt Romney’s political ascension as the biggest PE story of the year.
Nearly 28% of voters picked the Bain Capital founder as 2011’s top story.
The plunge in M&A and fundraising during the second half of the year came in second with about 22% of votes. And, the fact that PE firms are actually interested in bidding for Yahoo came in third place with 19.6% of voters.
As usual, the write-in suggestions were very interesting. Some said that the Skype deal was the lead story of the year. Microsoft completed its buy of Skype for $8.5 billion in cash in October. The sellers–a Silver Lake led investment group–sold Skype after a mere 18 month hold. The Silver Lake led group made a total gain of more than $5 billion, my coworkers at Reuters have reported.
Other readers pegged Castle Harlan’s quick flip as THE story of the year. In July, Castle Harlan bought Norcast Wear Solutions from Pala Investments for $190 million. The PE firm then sold Norcast within seven hours to Bradken Ltd. for $217 million, my companeros at Buyouts reported. That’s SEVEN hours, people! I take more time buying a pair of shoes.