Too much crime? How worried are you about traveling into cities experiencing spikes in crime? Apparently some (anonymous) senior bankers are worried about JP Morgan’s annual “Woodstock of Healthcare” conference in San Francisco in January, according to a report in the New York Post.
“I’m scared — the amount of lawlessness now is astounding. Violence is a huge topic of discussion at our bank,” a senior Wall Street executive, not with JPM, told the Post’s On the Money column this week.
The person said their colleagues are “pleading” with their bosses and begging not to be sent to San Francisco out of concern for their personal safety.
“People were upset about crime in San Francisco before the pandemic — now this smash-and-grab is a whole new level of mayhem,” another Wall Street executive told the Post.
We’ve known the JPM conference as one of the essential events of the year where healthcare dealmakers and intermediaries gather to connect and potentially wheel-and-deal. While “crime” is something always in the back of your head walking through any city (nothing new about that), it would be pretty amazing if JPM actually moved its conference.
For its part, JPM has no plans to cancel the event, according to the report.
Return: We have an update on Levine Leichtman Capital Partners’ sale of Best Lawyers to Abry Partners. LLCP generated a 3x return on the sale, which is a full exit (without LLCP retaining a minority stake in the business, something we have to confirm these days!), a person with knowledge of the deal told me. LLCP held the company for a little over three years. Read more here on the deal on PE Hub.
Waste: Also, Post Capital produced a 10x return on its sale of EC Waste, a waste management services company in Puerto Rico, writes Aaron Weitzman on PE Hub today. Post Capital sold the company to 3i, the firms announced this week.
Post Capital made the investment in EC Waste, which was a corporate division within Waste Management at the time, after identifying numerous opportunities in Puerto Rico. Waste Management and Republic Services each owned or managed two regulatory-compliant landfills on the Island, while many others were in violation of EPA rules, Aaron writes.