Erin Griffith

In the latest issue of Capital Dynamics' quarterly newsletter, Spencer Punter, Director of Investment Management, analyzes the performance of the U.S. venture capital market and discusses recent developments in three key growth areas: cleantech, healthcare, and social media. Noting that returns in the U.S. venture capital sector have consistently outperformed major domestic return indices over several investment horizons since 1981 (according to Cambridge Associates U.S. Venture Capital Index), Spencer describes why this sector continues to offer attractive investment opportunities in a turbulent global economy. Download it below.

Here’s a rundown of March’s 10 biggest private equity news stories. [slideshow] [slide title=”The Great Startup City Debate”] March 8: Is New York’s Startup Scene Surpassing Boston’s? Not So Fast Dan writes: “I spent a bunch of time in New York City last month, including extended hobnobbing with local VCs and entrepreneurs. One thing I […]

Good News For MBAs: Wall Street is hiring again. (BusinessWeek) All The Bankers in China: They've got one thing in common--they're all from Goldman Sachs. (WSJ) ILPA Powwow Update: It was "productive." High profile super secret meetings usually are... (PE Manager) Gossip: How did Kendrick Wilson III "Soothe" Steve Schwarzman's "Bruised Feelings"? (Dealbreaker)

Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. Bemis Co. Inc., a Wisconsin-based packaging company, was seeking buyer for its certain Alcan Packaging Food Americas assets. Tollgrade Communications, a publicly traded Pittsburgh, Penn.-based network technologies company, appointed Edward H. Kennedy as Chairman of its board. Kennedy and the company's CEO Joe Ferrara will evaluate strategic alternatives for the company. (Yahoo Finance)

DRI Capital, a private equity firm which invests in drug royalty streams, has raised $600 million for its second fund, a source familiar with the situation said. The firm originally targeted $500 million for Drug Royalty II LP, but has continued to accept new commitments. DRI Capital’s first fund was a 2006 vintage with $800 […]

ILPA SHOWDOWN OF DEATH: Check out the guest list at this special meeting of the Buyout Baron Gods to throw down on terms with investors. It took place today at an unnamed New York hotel. Everyone from Glenn Hutchins to David Rubenstein to Jim Coulter was there. It's like a meeting of the five (three?) fathers (Come on, you know they do that secret society crap.) Even the Journal is calling them "The Big Guns." And on the investor side we have Joe Dear, John Breen, and Ahmed Gubash. (WSJ) Total Domination: Wall Street is taking over the world. First Carl Jr.'s, now, American Idol may now be controlled by JPMorgan's private equity arm. (DealBook)(Dealbreaker, of course, has thoughts on this.) Further Proof: Here's what else is in American Idol's parent company's stable. (Times Online) Too Big To Not Fail? Paulson's fund is out of control big. (BusinessWeek) Against Conventional Wisdom: When should a VC-backed company shop a term sheet? (Dividends and Preferences) Tom Geithner: "Just one of the girls." (Dealbreaker)

Monte Brem, founder and CEO of Stepstone Group, has relocated to Beijing to set up the private equity consulting firm’s first international office. The San Diego and New York-based firm plans to add a few professionals in Asia before eventually opening a European office. Founded in 2006, Stepstone offers investment advice for direct private equity […]

Here's a look at the last week's worth of scoops, data, and analysis from the peHUB team. Catch up on what you missed before it goes behind our paywall... All First Reads | All Second Opinions Facebook Addiction Up for the Young and Blasé Yale Raises Its Private Equity Allocation, But Not By Choice The Great Financial ‘Purge' Is Over. Bring on the Credit, Please. New Book Demystifies the Cloud Media Vet Scott Marden Rejoins Compass Partners, Plans To Raise $600 Million PE Fund Q&A with Niklas Zennström, On Atomico Fundraise and European Venture Capital Book Interviews Where Does Healthcare Fit in The New Normal? Excelerate Labs: Will it Accelerate Deal Flow in Chicago? M&A Monday VC (and PE) Thoughts on Healthcare Reform Bill Phil Canfield of GTCR on Fund Expiration Dates and the Coming M&A Influx Fun with Filings: Apollo Discloses New Shares & Salaries SpeakerText Founder Matt Mireles on Becoming Famous Overnight, Fundraising, and Why He's Soon Ditching New York for Silicon Valley What Does Healthcare Reform Mean for Healthcare Investing VC-Backed Bust: BioFuelBox Shuts Down

One Kneejerk Take on the Moody's Report: The private equity industry is getting off easy while it destroys companies and jobs. (CJR) Blow Up Wall Street: A new book argues that the financial empires of Bank of America and JPMorgan must be broken up. (WSJ) Irony: How AIG's Collapse has Paved Wall Street with Gold. (Reuters) Shackin Up: Radio Shack is on the block and seeking private equity suitors. Sale price could be $3 billion. (NY Post) Reconciled Lovers: Spotted! Eric Schmidt and Steve Jobs are buddies again. (Gizmodo)

Catholic hospital operator Caritas Christi this week agreed to sell itself to Cerberus Capital Management, in a deal Caritas Christi CEO Ralph de la Torre called "good news." Considering Caritas Christi's new owner is named after a three-headed dog from hell, I'm sure the company's 2,000 pensioners, 13,000 employees, and countless patients are praying he's right. In an internal email obtained by peHUB, de la Torre outlined the benefits of the $830 million deal and specific favorable commitments from Cerberus. The deal is a turnaround of the hospital, which has struggled to compete with large teaching hospitals in its region.