Erin Griffith

Thomson Reuters' weekly M&A scorecard is out. This week's topics: Asia Pacific M&A activity totals $367.5 billion for year-to-date 2009, an 11% decrease from 2008 levels. Consolidation in the financial, high technology and energy and power sectors accounts for 45% of announced deal volume this year. The volume of new asset-backed and mortgage backed securities total $498.9 billion for year-to-date 2009, a 3% increase over 2008 levels. After a nearly 85% decline in 2008, the market for securitizations of residential mortgages, credit card receivables and auto receivables has slowly returned aided by US government guarantee programs. Download the full report below.

As usual, we have a week’s worth of ratings actions (mostly downgrades) on the debt of LBO-backed companies from ratings agencies S&P and Moody’s. This week brought some good news from the debt raters. S&P sees encouragement in the performance of Dana Holding Corp., the giant auto parts maker that Centerbridge bought out of bankruptcy. Meanwhile Moody's feels comfortable enough about the performance of Bain Capital's Sensata Technologies B.V. to upgrade the company's ratings. The ratings agencies served up two more downgrades as well, for companies owned by Kohlberg & Co., Versa Capital Management, Apax Partners and Trimaran Capital Partners. Company: Dana Holding Corp. Sponsor: Centerbridge Capital Partners LP Action: S&P raised its corporate credit rating on Dana to 'B' from 'B-' and raised the debt ratings. The outlook is stable. Highlight: “Dana's earnings and cash flow for the third quarter were better than we expected, reflecting benefits from aggressive restructuring actions after emerging from Chapter 11 in early 2008, despite weak auto sales. In addition, Dana reduced debt by $254 million in the first nine months of 2009 through a Dutch auction, market purchases of debt, and raising funds through a common equity offering. As a result, the company's covenant cushion has improved.”

* Steve Rattner supports Ben Bernanke so much, he penned him a love letter in the Washington Post. * Ten brands that will disappear in 2010. * New Firm Alert: NorthBridge Capital Partners, formed to do MBOs. (Remember those?) * To counter that, ten web trends to watch in 2010. * Looks like some bankers are using holiday parties to blow off steam. * More than 51% of PE investments in India this year went into the power sector. *Can "Nice Girls" Negotiate? Whitney Johnson of Harvard Business Publishing isn't so sure. * "The plutocrats, is seems, are going to win." On the return of disgustingly excessive pay.

This afternoon Attorney General Andrew Cuomo announced the Elliott Broidy, cofounder and chairman of Markstone Capital, pled guilty to one count of rewarding official misconduct in the second degree. Felony, in other words. It raises the obvious questions about the future of Markstone. We saw what happened to Aldus Equity when Saul Meyer pled guilty—it’s now nonexistent. But Aldus didn’t manage millions of dollars with of buyout funds. Markstone even has up to $69 million in uncalled capital. Markstone is around the halfway mark for its fund, an $800 million vehicle which closed in 2005. New York committed $250 million; had been deployed as of March. Investors include Israeli insurance company Clal Insurance Pensions and Finance Group and Oregon Investment Council and of course New York State Common. Investments include a stake in cleantech water company Netafim.

* Has it really come to this? A groom has not updated his Facebook status at the alter (to "married" of course). * Lauren Silva Laughlin suggests that Carlyle Group is drunk on Booz Allen debt. * Blackstone Group cares about the students. Or their money, at least. The firm is building the tallest tower in London's financial district and it's a dorm. * Is Bloomberg Engaging in Bernanke Boosterism? *Ouch, November hurt. The U.S. employment report for the month should show a loss of 130,000 jobs, with the unemployment rate edging up to 10.3%. * Hedgie Phil Duff had a three-decade hot streak, and could have stopped there, but didn't. * I just made an investment, what do I do now? * John Denver, Bernie Madoff & Me, the musical.

Blackstone Group's shares haven't looked so hot since the firm went public in June 2007. No secret there. That's due to a lot of things, including the fact that investors aren't really sure what to make of the public private equity giant. Steve and Tony have lodged a handful of "the market doesn't understand us" comments, mostly in reference to leverage or mega-buyouts, but to their credit, they haven't been crying us a river like some whiny CEOs I know. And why should they, when they've got analysts to do their dirty work?

Foundation Medical Partners is in the market raising $150 million to invest in medical device companies, according to a source familiar with the situation. The vehicle, Foundation Medical Partners 3, has closed on $63 million since its launch in 2008, according to a regulatory filing. Five million of that is the GP contribution. The Rowayton, […]

Today M/C Venture Partners released its year-end analysis of its two favorite sectors, media (the "M') and Communications (the "C"). The firm predicts the effect of social networking on wireless handset makers, more competitive local carriers, the effects of power consumption on the infrastructure, voice applications on smartphones, and a few things too wonkish for me to understand but will perhaps entice you comm-opohiles. Read it below:

Here are some potential M&A ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. For prior lists, see below. Independent oil and gas company Delta Petroleum Corp is exploring strategic alternatives, including a possible sale of the company. Ellora Energy Inc., an independent oil and gas exploration and production company based in Colorado, is exploring strategic alternatives and has retained Bank of America Merrill Lynch to advise its board. Alanco/TSI PRISM Inc., a unit of Arizona-based Alanco Technologies Inc., was seeking a buyer for the company.

Willis Stein has invested $20 million growth capital in CompuPay. Willis Stein acquired the company in 2004, building it with 13 add-on deals. Press release: CompuPay, Inc (www.compupay.com), one of the nation’s leading providers of payroll, tax filing and HR-related services, today announced that it has received an additional $20 million in growth capital from […]