Parthenon Capital has received a fund-raising extension from its limited partners, despite having been in market for nearly two years on its $1 billion-targeted Fund III. It also has retained MVision to serve as placement agent. Parthenon has pretty good returns, so the only explanation here is that LPs are still turned off by Parthenon’s […]
On Friday, I linked you over to the AA Capital Partners website, where suspended managing partner John Orecchio was still listed as an active team member. Hope you saw it early, because the entire site went MIA by early that afternoon. I don’t know if this was done because: (A) AA Capital hopes to avoid any […]
Update-A-Palooza There will be no last-minute reconciliation between Pacific Corporate Group and the three managing directors who resigned last week over compensation concerns. The two sides spent much of the weekend in negotiations, but to no avail. I can’t say whether the salary demands of Monte Brem, Tara Blackburn and Steve Moseley were appropriate or […]
The sun is shining, oil prices are sinking and Yankee fans get two weeks to gloat/celebrate before getting smacked in the playoffs (Me bitter? You bet). In other words, it’s time for some Thursday ThrowBack. First up is yesterday’s lament that former Gillette chief Jim Kilts got a plum private equity gig. Specifically, I oppose […]
The SEC has received a temporary restraining order against AA Capital Partners, after alleging that the Chicago-based private equity firm had misappropriated at least $10.7 million from its six union pension fund clients. More specifically, the SEC charges that AA Capital used the fraudulent guise of capital call-downs to cover such expenses as private jet […]
I spent yesterday stuck first in the hand-me-down VW, and then in meetings. So just some reading suggestions to begin your day… *** Brad Feld and Jim Lejeal continue their Board Meeting series, by asking “How many board meetings should a VC-backed company have?” *** Lots of buzz around Yahoo’s disappointing online ad sales results, […]
Ford today announced a giant restructuring, with the big news being voluntary buyouts of hourly workers. It also said that it would not sell off any brands until new CEO Alan Mulally had been given a chance to review potential offers. Well, I can tell you that San Francisco-based Citron Capital has made a formal […]
Private equity consultancy Pacific Corporate Group is volcanic. It and its leader Chris Bower erupt from time to time, with senior managers flowing away like hasty lava. Boom. Sources tell me that PCG this week has lost three top pros from its asset management group, which advises public pension systems on private equity fund commitments. They […]
The following column contains a number of synonyms and euphemisms, for the purpose of getting through your “canned ham” filters. Apologies for the inconvenience… Earlier this week, the producer of “Women Gone Wacky” pled guilty to violating federal laws related to the exploitation of children (he didn’t keep proper records of his booze-impaired actresses). He […]
Today’s column just fell apart, which led to yelling (at no one in particular) that startled a dog walker outside of the home office in Framingham. So I’ll let others pick up the slack until tomorrow… *** CalPERS is using a two-year-old private equity disclosure law to withhold information about political contributions from venture capital […]