First Read begins the day with news that Facebook suspends Russian Instagram accounts targeting U.S. voters, JPMorgan wants to hire people with criminal backgrounds, and Peter Thiel's Founders Fund is raising nearly $3 billion.
Private equity's 99 problems; 21st Century Oncology seeks buyer; Romney admits to Pierre Delecto Twitter account
First Read begins the week with news that Oracle's co-CEO Mark Hurd passes way, J&J recalls about 33,000 bottles of baby powder due to asbestos concern, and Mitt Romney admits to being behind the "Pierre Delecto" Twitter account.
Private equity's outperformance, How GPs deal with key-person issues
First Read closes out the week with news that Juul suspends all U.S. sales of fruity e-cigarettes, Microsoft CEO Satya Nadella gets big pay raise and ex-Credit Suisse banker says secret affair helped fuel $45 mln fraud.
Parthenon comes to market with its sixth flagship fund; MLB said to allow funds to take minority stakes; Pritzker's Carbone dislikes "patient capital"
Major League Baseball will now allow investment funds to take minority stakes in multiple clubs, which could open the door to Wall Street firms and college endowments to invest, Bloomberg reported. The most prized major league teams are worth billions of dollars, which makes it difficult for part owners to find buyers for their stakes when they want to sell, the story said.
First Read kicks off the day with news that MGM Resorts is selling two Las Vegas casinos in a deal that's nearly $5 billion, a new report says there are 600,000 millennial millionaires in the U.S., and Meredith is shutting down Family Circle magazine.
Blackstone works with GSO investors to resolve looming key-person issue; KKR-backed Epicor goes off market
KKR has picked six dealmakers to lead its PE businesses, the Wall Street Journal reported. Pete Stavros and Nate Taylor will co-lead the firm’s private-equity business in the Americas, while KKR promoted Mattia Caprioli and Philipp Freise to head its European PE business, the WSJ said. Hirofumi Hirano and Ashish Shastry are leading the firm’s Asia-Pacific region, the story said.