Erin Griffith
Apax Partners-backed Tommy Hilfiger may IPO in New York instead of on Euronext, the New York Post reported today. This is an interesting tale of brand equity, which is basically what buyout shops pay premiums for when they invest in consumer spending-reliant businesses. (Unless it’s a retailer that owns its own stores and real estate, […]
The firm puts out an M&A and private equity forecast every six months. It’s 2008 mid-year effort is due out this week, and I’ve boiled down the conclusions it’s drawn. The second half of 2008 will see the following, according to PwC: -US private equity shops will continue to take investments from foreign entities in […]
***Remember all those MBAs with visions of Goldman Sachs dancing through their heads? I first suspected they’d face hefty competition from the tens of thousands of laid-off financiers, but according to Dealmaker, those Wall Streeters are heading to LBO shops and hedge funds. *** Stephen Schwartzman has a nude portrait of his wife made of […]
Keeping it light for the Friday afternoon edition. ***Dealscape shows us this week’s PE exit activity. While there’s only a handful, most of them have pretty stellar return multiples. Platinum blows everyone out of the water with their 25X homerun on Preferred Freezer. How did they do it? Three add-ons and a CEO. **Sentiment is […]
In some ways, Cleveland-based lower middle market LBO shop Key Principal Partners is like a mini-American Capital Strategies. (In many, many ways it is not.) But both firms are capable of one-stop financing for deals, have seen a resurgence of interest in their mezzanine offerings, and are flexible to do a variety of transactions. I […]
Twenty six percent of MBA students from more than 50 schools choose Goldman Sachs as their number one choice of employer, according to a survey conducted by a firm called Universum. It must break those ambitious little MBA students’ hearts reading about their dream employer’s ridiculous accelerated analyst program. Even so, Goldman’s not the only […]
* Via the Financial Times, Steve Miller from Standard & Poors asks if the recent loan & bond rally was a fluke or will continue. April, May and June alone account for 75 percent of the new issuances for this year. (That’s my figure, not Miller’s.) According to Miller, defaults have slowed too. But for […]
The House Ways and Means Committee yesterday approved an alternative minimum tax relief bill. This could affect PE pros because, if the AMT tax is done away with, Democratic lawmakers need a way to replace the $61.5 billion it collects from middle to upper-middle class individuals. One plan for replacement is through a change in […]
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 […]
A round-up of Tuesday’s dirt. The Glass Hammer: Interesting take on Lehman’s firing of Erin Callan and Joseph Gregory. Between the demotions/firings of Callan, Morgan Stanley Co-President Zoe Cruz, and Citigroup’s CFO Sally Krawcheck, Fortune magazine’s next “50 Most Powerful Women in Business” issue is going to be less represented by high-profile Wall Street ladies. […]