Posts Tagged ‘Blackstone’

Yahoo! Jumps on Buyout Rumors from AOL, KKR, Silver Lake, Blackstone

Tuesday, November 9th, 2010

Two years after Microsoft tried to acquire Yahoo! for $33/share and the company lost half its market value, AOL and Silver Lake have separately lined up financial advisers to explore options for the company.  AOL is also exploring a scenario where Yahoo!’s Asian assets are spun off and the capital is returned to shareholders before the acquisition.  AOL has been extremely proactive in buying companies over the past two months, purchasing 5min Ltd., an Internet content provider and TechCrunch, a popular technology blog.

Bloomberg announced today that KKR is also interested in helping finance the transaction.  Silver Lake Partners and Blackstone are currently in buyout talks.  The sponsors are interested in Yahoo!’s 40% stake in Alibaba, a growing Chinese online business.  Yahoo! currently employs about 13,600 people and had revenues of about $1.6 billion last quarter. Shares in the company rose 9.5% on the rumors today, and the firm’s management team may have hired Goldman Sachs as a takeover defense advisor to ward off bids.

According to the WSJ, analysts say that a Yahoo!-AOL merger could create a strong competitor in the display ads market, which is estimated to be $20 billion this year.  This should be an interesting transaction, if it proceeds further, as Yahoo has a market capitalization of $21.85 billion and AOL has a market capitalization of $2.66 billion.  However, analysts value Alibaba.com at between $15bn and $25bn, which means that Yahoo!’s 40% stake could be worth $10 billion. By selling those assets, Yahoo!’s market value would fall to about $11 billion, which would make the deal much more realistic.

On the other hand, Alexei Oreskovic and Sue Zeidler argue that the company will have hurdles even if it does get bought out.  Yahoo! made many desperate attempts to grow revenue this year, such as its attempts to purchase foursquare and Groupon.  According to one analyst, “making Yahoo! bigger or smaller will not accomplish anything.”  Yahoo! is the 2nd most popular search engine behind Google, but it has failed to find growth in page views or new business.  From a private equity investor’s point of view, Yahoo! may simply be attractive because of the steady cash flow it generates, if nothing else.

For more information, please visit http://leverageacademy.com

Blackstone, THL Bid More Than $15 Billion for Fidelity National Information Services, Reminiscent of KKR’s First Data $29B Buyout

Wednesday, May 12th, 2010

Ever since the First Data buyout by KKR, the BPO industry has been a target for large cap private equity funds across the United States.  The First Data deal was a $29 billion deal, and at the time, the company was largest publicly traded American electronic transaction processing company.  Fiserve has an enterprise value of over $13 billion, and about $750 million in EBITDA.  This gives an EV/EBITDA multiple of 17.0-18.0x, even higher the multiple paid for First Data.

Silver Lake and Warburg Pincus also recently bought IDC, Interactive Data Corp., seeing revenue growth potential in the need for market transparency across financial institutions.  IDC provides reference data, markets pricing and trading infrastructure services to customers, including mutual funds, asset managers and banks.  The IDC deal, a carve out from Pearson valued at $3.4 billion, would have been the largest deal this year.

According to Reuters, Fidelity National Information Services, Inc. (FIS) is a global provider of banking and payments technology solutions, processing services and information-based services. It offer financial institution core processing, card issuer and transaction processing services, including the NYCE Network, a national electronic funds transfer (EFT) network. As of December 31, 2009, FIS had more than 300 solutions serving over 14,000 financial institutions and business customers in over 100 countries spanning segments of the financial services industry. Additionally, the Company provide services to numerous retailers, through the check processing and guarantee services. The Company operates in four business segments: Financial Solutions Group (FSG), Payment Solutions Group (PSG), International Solutions Group (ISG), and Corporate and other. On October 1, 2009, FIS completed the acquisition of Metavante Technologies, Inc. (Metavante).

According to Mr. Miller of Bloomberg, ” Blackstone Group LP, Thomas H. Lee Partners LP and TPG Capital are in talks to pay more than $15 billion including debt for Fidelity National Information Services Inc., said a person with knowledge of the matter, a deal that would value the company at about $32 a share.

Fidelity National Information may reach an agreement with the buyout group as soon as May 16 if talks don’t collapse, this person said, speaking on condition of anonymity because the discussions are private. Marcia Danzeisen, a spokeswoman for Fidelity National, didn’t return a call after regular business hours yesterday.

A $15 billion deal would be about three times as big as the largest leveraged buyout since the credit markets crumbled in July 2007, showing how private-equity firms are again putting capital to work after more than a two-year drought in transactions. LBO funds worldwide have about $500 billion of unspent committed capital, according to researcher Preqin Ltd.

Private-equity firms announced about $24 billion of company takeovers so far this year, compared with $5.7 billion during the same period in 2009.

For Fidelity National Information, a Jacksonville, Florida- based payment-processing company, a deal in the $32 a share range would represent more than a 20 percent premium to the $26 closing stock price on May 5, the last day before the Wall Street Journal reported the company was in buyout talks.

Other private-equity firms have recently held talks about joining the group bidding for Fidelity National Information, said two people with knowledge of the matter. With banks preparing about $10 billion in debt financing, the private- equity group would have to put up more than $5 billion, one of the people said.

Financing Group

Bank of America Corp., Barclays Plc, Citigroup Inc., Credit Suisse Group AG, Deutsche Bank AG and JPMorgan Chase & Co. are among the banks that have been working on financing the takeover, said other people with knowledge of the matter.

Credit-market turmoil in 2007 led banks to pull back on leveraged loans used to finance buyouts. Since July of that year, the largest LBO was that of IMS Health Inc., acquired in February for about $5 billion including debt.

Fidelity National Information had about $2.9 billion of net debt and noncontrolling interest as of March 31. With about 377 million shares outstanding as of April 30, a deal at $32 a share would value the company’s stock at $12.1 billion.

Thomas H. Lee, also known as THL Partners, already owns about 4.4 percent of Fidelity National, according to data compiled by Bloomberg. Private-equity firm Warburg Pincus is the company’s largest shareholder, with about 11 percent.

Fidelity National Information processes payments and issues cards for more than 14,000 institutions globally. The company had profit of $105.9 million in 2009 on revenue of $3.77 billion.

Spokesmen for Blackstone, THL, and TPG declined to comment or didn’t immediately respond to calls seeking comment.”

Blackstone Buying Failed Banks with Aid of Former Bank President Oates

Thursday, March 18th, 2010

While TPG recently returned more than $2 billion in commitments to purchase failed banks, Blackstone has found a former bank President who is guiding them to buy financial institutions in the United States, a very risky, but potentially lucrative endeavor.

According to Ms. Thornton and Mr. Keehner, “Blackstone Group LP, the world’s largest private-equity firm, is in preliminary talks to raise $1 billion to buy failed banks, according to a person with knowledge of the discussions.

The New York-based firm is working with R. Brad Oates, a former president of Bluebonnet Savings Bank, to raise the funds for a blind pool, said the person, asking not to be named because the information is private. Blind pool investors usually back a single management team without having a say in what company it will acquire.

Peter Rose, a spokesman for Blackstone, declined to comment.

Buyout firms are seeking bargains as lenders fail at the fastest pace since 1992. Regulators have seized at least 160 lenders since Jan. 1, 2009, and the FDIC’s confidential list of “problem” banks stands at 702 with $402.8 billion in assets, according to a Feb. 23 report.

Related Cos. founder Stephen Ross and partners Jeff Blau and Bruce Beal Jr. raised about $1.1 billion last month to help their SJB National Bank acquire a seized U.S. lender. Among their investors are New York hedge-fund firm Elliott Management Corp. and David Einhorn’s Greenlight Capital Inc., a person with knowledge of the matter said last month.

Regulators have been debating how much leeway to give private buyers of failed banks because of concern that they may take too much risk with federally insured deposits. Some investment groups have recruited former bankers as officers to reassure regulators.

William Isaac, the Federal Deposit Insurance Corp.’s former chairman, is also leading a group of ex-regulators and bankers raising $1 billion to buy failed lenders in the U.S. Southeast, a people briefed on the plan said last month.

Last May, Blackstone partnered with WL Ross & Co. and Carlyle Group to buy BankUnited Financial Corp. The group agreed to inject $900 million and named John Kanas, the former head of North Fork Bancorp, to run the Florida lender after it collapsed.”

Bain’s Sensata Could Spark $600mm IPO

Monday, March 8th, 2010

Bain Capital is offering to IPO Sensata Technologies for $632 million, 3x the original investment.  Interestingly enough, Sensata has been a money losing company every year since the investment.  Sensata’s revenue fell 20% last year and interest obligations were $151 million.  Bain acquired Sensata for $3 billion in a leveraged buyout in 1984.  The PE firm used $2.1 billion in debt and $985 million in equity to fund the buyout.

[ad#ad1]

Sensata manufacturers sensors for Ford Motor Co. and controls for Samsung.  It plans to offer 31.5 million shares at about $20 each, an 18% stake.  It will receive about 83% of the proceeds of the IPO before fees and expenses, $352 million of which will be used to pay down debt.  This would bring down down to $1.94 billion and increase cash to $232.6  million.  About $22.1 million in fees will go to Bain & Co.

This will bring Sensata’s Enterprise Value (BEV) to $4.96 billion or 13.5x EBITDA of $367 million.  The multiple is 66% higher than companies in the same industry (instruments & controls).  Its next largest competitor is the Japanese Denso Corp., which trades at 10.4x EBITDA.

This will be a very difficult IPO to pull through, after Blackstone cut its IPO for Graham Packaging by 55% a few weeks ago.

For more information, check out the source: Bloomberg

For more information, check out Sensata on the web

Over 1,100 Top Private Equity Firms

Friday, February 26th, 2010

2i Capital Group
3 I
3i
4C Ventures
Aavin Equity Partners
Abacus Private Equity Group
Abell Venture Fund
Aberdare Ventures
Aberdeen Asset Managerment
Abingworth Venture Management
ABN AMRO Private Equity
ABS Capital Partners
ABS Ventures
Abundance Venture Capital Sdn. Bhd.
Accel Partners
Accel-KKR
Access Venture Partners
ACF Equity Atlantic
ACI Capital
Acorn Angels
Acorn Ventures
Adams Capital Management
ADD Partners
Advanced Equities
Advanced Technology Ventures
Advanced Technology Ventures
Advantage Capital Partners
Advent International
Advent Venture Partners
Adveq Management AG
Affarsstrategerna Sverige
Affinity Capital
Agio Capital Partners
Akers Capital
Alacrity Ventures
Albion Investors
Alchemy Partners
Alerion Capital Group
Alexander Hutton Venture Partners
Alice Ventures
Allegis Capital
Allegra Partners
Alliance Technology Ventures
Allied Capital
Alloy Ventures
Alpha Capital
Alta Communications
Alta Partners
Alta-Berkeley LLP
Altira Group
Altos Ventures
Altus Capital Partners
Ambient Capital Group
American Capital Strategies
American Industrial Partners
American Securities Capital Partners
Ampersand Ventures
Andlinger & Company, Inc.
Antares Capital Corporation
Anthem Capital Management
Apex Venture Partners
APV Technology Partners
Arbor Partners
Arbor Private Investment Company
Arcapita Inc. (Formerly Crescent Capital Investments, Inc.)
ARCH Venture Partners
Archelion Capital Partners
Ardent Services, LLC
Argentum Capital Partners
Argos Soditic
Argosy Capital
Argosy Partners
Arlington Capital Partners
Artemis Group
Ascend Technology Ventures
Ascent Venture Partners
Ashby Point Capital
Asset Management Company
Atlanta Equity
Atlas Venture
Audax Group
August Capital Management
August Equity
Aureos Capital
Aurora Capital Group
Aurora Funds
Austin Ventures
Avitas Capital
Axcel
Axxon Group
BA Venture Partners
Bachow & Associates
Bain Capital
Baird Capital Partners
Baird Venture Partners
Baker Capital
Bancroft UK – Bancroft Eastern Europe Fund
Band of Angels
Banyan Capital Partners
Baring Latin America Partners
Baring Private Equity Partners
Baring Private Equity Partners (India)
Baring Private Equity Partners Asia
Baring Vostok Capital Partners
Basileus Capital Partners, LLC
Batterson Venture Partners
Battery Ventures
Bay BG Bavarian Venture Capital Corporation
Bay Partners
Bayview Capital Group
b-business partners
BC Partners
BCE Capital
Beecken Petty O’Keefe & Company
Beer & Partners Limited
Behrman Capital
Belvedere Capital Partners
Ben Franklin Technology Center of Southeastern Pennsylvania
Benchmark Capital
Benelux Capital
Berkeley International Capital Corporation (BICC)
Berkshire Partners
Berwind Group
Bessemer Venture Partners
BG Affiliates
Bio Asia Investments
Blackford Capital
Blackrock
Blackwater Capital Group
Blue Chip Venture Company
Blue Point Capital Partners
Blue Rock Capital
Blue Water Capital
Blueprint Ventures
BlueRun Ventures
Bluestem Capital Partners
BlueStream Ventures
Blumberg Capital
Boston Capital Ventures
Boston Financial & Equity Corporation
Boston Millennia Partners
Boston Ventures Management
Boulder Ventures
Bow River Capital Partners
Bradford Equities Fund
Brandon Capital Group, Inc.
Brantley Partners
Brass Ring Capital, Inc.
Brentwood Private Equity
Brentwood Venture Capital
Brera Capital Partners
Bridge Ventures
Bridgepoint Capital
Brockway Moran & Partners
Broe Companies, Inc.
Brown Brothers Harriman
Bruckmann, Rosser, Sherrill & Company
Bunker Hill Capital
Business Partners
BV Capital
Calera Capital
Caltius
Caltius Capital Management
Cambria Group
Canaan Partners
Candover Partners
Capital 33 Investment Tech. Limited
Capital For Business
Capital International
Capital Investments
Capital Markets Group, Inc.
Capital Resource Partners
Capital Southwest Corporation
Capital Z Partners
Capitaline Advisors, LLC
Capitol Health Partners
Capitol Partners
CapMan Capital Management
Capricorn Holdings
CapStreet Group
CapVis Equity Partners
Cardinal Capital Partners, Inc.
Cardinal Growth
Cardinal Partners
Cardinal Ventures
Carela Pacific Prvate Equity
Caris & Company
Carlyle Group
Carmel Ventures
Carousel Capital
Castanea Partners
Castile Ventures
Castle Harlan
Catalana d’Iniciatives
Catalyst Equity Partners
Catalyst Fund Management & Research
Catterton Partners
CCG Venture Partners
CCMP Capital Advisors, LLC
CDC Capital Partners
CDC Group
Cedar Creek Partners
Cedar Fund
Celerity Partners
Centennial Ventures
CenterPoint Ventures
Centre Partners Management
Centura Capital
Century Capital Management
CGS Investment
Channel Medical Partners
Charles River Ventures
Charlesbank Capital Partners
Charter Ventures
Charterhouse
Charterhouse Group
CHB Capital Partners
Cherokee Investment Partners, LLC
Chicago Venture Partners
ChinaVest
Chisholm Private Capital Partners
Chrys Capital
Chrysalis Ventures
Churchill Capital
CID Capital
Cipher Securities (India) Private Limited
CIT Group/Venture Capital
Citizens Capital
City of London Investment Group
CIVC Partners
Clarity Partners
Clayton Associates
Clayton, Dubilier & Rice
ClearLight Partners, LLC
Clearstone Venture Partners
Clearview Capital
CM Equity Partners
CMEA Ventures
CMGI@Ventures
Code, Hennessy & Simmons, LLC
Cogent Partners
Coller Capital
Collinson Howe & Lennox
Colonial First State Private Equity
Columbia Capital
Columbia Capital Group
Columbia Partners Private Capital
Comcast Interactive Capital
Commerz Beteiligungsgesellschaft
Commonwealth Capital Group
Commonwealth Capital Ventures
Community Technology Fund
Companhia Riograndense de Participaçoes (CRP)
Compass Partners
Compass Technology Partners
ComSpace Development
ComVentures
Concord Ventures
Concourse Capital
Conexus Financial Partners
Connecticut Innovations
Conning & Company
Coral Ventures
Cordova Ventures
Core Capital Partners
Cornerstone Capital Holdings
Cornerstone Management Group
Corpfin Capital
Cortec Group
Cramer Rosenthal McGlynn
Crawford Capital
Crescendo Venture Management
Crescendo Ventures
Cross Atlantic Capital Partners
Cross Atlantic Partners, Inc.
CrossBow Ventures
Crosslink Capital
Crosspoint Venture Partners
Crystal Internet Venture Funds
Custer Capital
CVC Capital Partners
CVC Investment Managers
CW Group
Dakota Capital Partners
Dansk Kapitalanlaeg Aktieselskab
Danske Private Equity
Darby Overseas Investments
Dauphin Capital Partners
DB Capital Partners
De Novo Ventures
DEA Capital
Dearborn Capital Corporation
Delaware Innovation Fund
Delphi Ventures
Delta Partners
Delta Ventures
Demuth, Folger & Wetherill
Desai Capital Management
Detroit Investment Fund
DFJ Athena
DFW Capital Partners
DH Capital, LLC
Diamond State Ventures
Digital Partners
Digital Partners
Dimeling Schreiber & Park
Discovery Capital Corporation
Doll Capital Management
Dolphin Equity Partners
Domain Associates
Dome Capital
Dominion Ventures
Dougery Ventures
Doughty Hanson & Company
Draper Atlantic Management
Draper Fisher Jurvetson
Draper Richards
Dresdner Kleinwort Capital
Drug Royalty
Dubin Clark & Company
Duchossois TECnology Partners
Duff Ackerman and Goodrich
DynaFund Ventures
Earlybird Venture Capital
EarlyBirdCapital
East River Ventures
Eastern Technology Fund
Easton Hunt Capital Partners
Eccelera do Brasil Ltda
ECI Ventures
eCompanies-Evercore Venture Management (E2VM)
Edelson Technology Partners
EDF Ventures
Edgestone Capital Partners
Edgewater Capital Partners
Edgewater Funds
Edison Venture Fund
Egan & Talbot Capital
Egan Managed Capital
El Dorado Ventures
Elderstreet Investments
Electra Partners Asia
EM Capital/EM Management, Inc.
Emerging Markets Partnership
Eminent Capital Partners, LLC
Empire Ventures
Encore Consumer Capital
Endeavour Capital
EnerTech Capital Partners
Eno River Capital
Enterprise Development Fund
Enterprise Equity
Enterprise Partners
Entertainment Media Ventures
Envest Entrepreneurial Investments
EOS Partners
Equitas Partners
Equity Partners
Equity Ventures Limited
Equus Capital Management
Essex Woodlands Health Ventures
EuclidSR Partners
European Bank for Reconstruction and Development
European Investment Fund (EIF)
Euroventures Management
Excel Partners
Excel Partners S.A.
Excellere Partners
Explorador Capital Management
FA Technology Ventures
Fairfax Partners
Fairmont Capital
FCP Investors
FE Clean Energy Group Inc.
Fenway Partners
Fidelity Equity Partners
Fidelity Global Group
Fidelity Ventures
Financial Technology Ventures
Firemark Investments
Firestarter
First Analysis
First Atlantic Capital
First Capital Group
First New England Capital
First Reserve Corporation
Flag Venture Management
Flagship Partners
Flanders Language Valley Fund
Flatwater Ventures, LLC
Fluke Venture Partners II, LP
FNJ Group, INc.
Fond fondov
Fond Rizikového Kapitálu
FondElec Group Inc.
Fonds de solidarité des travailleurs du Québec
Forrest Binkley & Brown
Forward Ventures
Foundation Capital
Four Seasons Venture Capital
Fox Paine & Company
Francisco Partners
Frazier & Company
Freeman Spogli & Company
Freestone Partners
Fremont Group
Friedman Billings Ramsey
Friedman Fleischer & Lowe
Friend Skoler & Co., Inc.
Frontenac Company
Frontier Capital
Fulcrum Ventures
Funk Ventures, Inc.
G-51 Capital
Gabriel Venture Partners
Gaebler Ventures
Galen Partners
GE Equity Capital
Gemini Investors
Gemini Israel Fund
General Atlantic Partners
Generation Partners
Genesis Partners
Geneva Venture Partners
Genstar Capital
Geocapital Partners
Gilbert Global Equity Partners
Gilde Investment Management
GIMV
Giza Venture Capital
GLE Development Capital
Glencoe Capital LLC
Glenmount International
Global Environment Fund
Global Internet Ventures
Global Partner Ventures
Global Retail Partners (GRP)
Global Vision AG Private Equity Partners
GMT Communications Partners
Goense Bounds & Partners
Golder Thoma Cressey Rauner (GTCR)
Goldman Sachs Asset Management
Goldner Hawn Johnson & Morrison
Goode Partners
Graham Partners Investments
Grand Central Holdings
GrandBanks Capital (in partnership with SOFTBANK Inc.)
Granite Equity Partners
Granite Hall Partners
Granite Ventures
Granville Baird
Great Circle Capital
Great Hill Partners
Greenbriar Equity Group LLC
Gresham Partners
Greylock
Grosvenor Funds
Grotech Capital Group
Ground Swell Equity Partners
Growth Capital Partners
Growth Works
Growthworks Capital
Grumman Hill Group
Gruppo Levey & Company
Gryffindor Capital Partners
GSC Group
GTI Capital
Guide Ventures
H&Q Asia Pacific
Haddington Ventures
HAL Investments
Halder Holdings
Halpern, Denny & Company
Halyard Capital Fund
Hambrecht & Quist Capital Management
Hamilton Funding, Inc.
Hamilton Investment Partners, LLC
Hamilton Robinson
Hammond Kennedy Whitney & Co., Inc.
Hampshire Equity Partners
Hannover Finanz
Harbour Group
HarbourVest Partners
Harlingwood Equity Partners
Harren Equity Partners
Harris & Harris Group
Harvest Partners
Headway Capital
Health Business Partners
HealthCare Ventures
HealthEdge Investment Partners
Heartland Industrial Partners
Helios Investment Partners
Hellman & Friedman
Henderson Private Capital
Heritage Partners
HG Capital
Hibernia Capital Partners
Hickory Venture Capital Corporation
HIG Capital
High Ridge Capital
High Street Capital
Highland Capital Partners
HLM Management Company
HMS Hawaii Management Partners
HO2 Partners
Holland Venture
Horatio Capital
Horizon Holdings
Horizon Ventures
Horizonte Venture Management
Housatonic Partners
Houston Venture Partners
Howard Industries
HRL Morrison & Company
HSBC Private Equity
Humana Venture Capital
Hummer Winblad Venture Partners
Hunt Growth Capital
Hunt Private Equity Group
Hunt Ventures
Huron Capital Partners
Ibero American Investors Corporation
iD Ventures America, LLC
Idanta Partners
IDG Technology Venture Investment
IDG Ventures
IDJ Limited
IEG Venture Partners
Ignite Group
Impact Venture Partners
Imperial Capital
Index Ventures
Industri Kapital
Industrial Development & Investment (IDI)
Industrial Growth Partners
Industrics Capital Partners, Inc.
Infinity Capital
Infinity Fund
Inflection Point Ventures
InnoCal
Innova Capital
Innovacom
Innovations Kapital
In-Q-Tel
InSight Capital Partners
Institutional Venture Partners (IVP)
Integra Ventures
Intel Capital
Inter-Atlantic Group
Intermezzo Capital Limited
Internet Capital Group
Intersouth Partners
InterWest Partners
Invencor
Invesco Private Capital
Invest Equity Management
Invest Mezzanine Capital Management
Investar Sgr Spa
Investcorp
Investeringsmaatschappij voor Vlaande
Investment Fund for Central and Eastern Europe
Invus
Ironside Ventures
Ironwood Capital
ISIS Private Equity Partner
Island Forest Enterprises
Israel Seed Partners
IT Partners
ITC Ventures
J. Alan Enterprises, Inc.
J.L. Albright Venture Partners
J.W.Childs Associates
Jafco America Ventures
JatoTech Ventures
Jefferson Capital Partners
JK&B Capital
JM Galef & Company
JMI Equity Fund
Jupiter Partners
Kachi Partners
Kansas Technology Enterprise Corporation
Kansas Venture Capital
Katalyst Venture Partners
KB Partners
KBL Healthcare
Kelso & Company
Kennet Capital
Kestrel Venture Management
Key Principal Partners
Keystone Capital Inc.
Keystone Capital, Inc.
KfW Mittelstandsbank
Kidd & Company
Kildare Enterprises
Kinetic Ventures
Kirtland Capital
Kleiner Perkins Caufield & Byers
Kline Hawkes & Company
Knight Ridder Ventures
Knightsbridge Advisers
KPS Special Situations Fund
Kreos Capital
Labrador Capital, LLC
Labrador Ventures
Lake Capital
Lake Pacific Partners
Landmark Partners
LaSalle Capital Group Incorporated
Latin Healthcare Investments Management
Lazard Technology Partners
Leasing Technologies International (LTI)
Lee Munder Venture Partners
Levine Leichtman Capital Partners Incorporated
Levy Trajman Management Investment (LTMI)
Lewis Hollingsworth
Lexington Partners
LF Venture Capital
Liberty BIDCO Investment
Liberty Ridge Capital
Liberty Venture Partners
Liberty Venture Partners
Life Science Ventures
Life Science Ventures
Lightspeed Venture Partners
Lightyear Capital LLC
Lincolnshire Management, Inc.
Lion Selection Group
Litorina Kapital
LiveOak Equity Partners
LJH Global Investments
Lloyds Development Capital
LLR Equity Partners
Lombard Investments
Lone Star Equity Partners, LLC
Long Point Capital
LongueVue Capital, LLC.
Longworth Venture Partners
Lovett Miller & Company
Lynwood Capital Partners
M Group
M/C Venture Partners
Mad River Associates
Madison Dearborn Partners
Madrona Investment Group
Magic Venture Capital
Maguey Management
Malmohus Invest AB (MAIB)
Management Capital, LLC
Marathon Partners LLC
Mariseth Ventures
Marquette Venture Partners
Mason Wells
Massachusetts Technology Development Corporation (MTDC)
Massey Burch Capital
Matrix Capital Markets Group
Matrix Partners
Maveron
Mayfield Fund
MB Ventures
MC Venture Partners
McCown, De Leeuw & Company
McGraw-Hill Ventures Incorporated
McKenna Gale Capital
McLean Watson Capital
MCM Capital Partners
MCM Capital Partners, LP
MDS Capital
MDT Advisers
Medallion Capital
Medequity Investors
Medical Imaging Innovation & Investments
Medventure Associates
Mekong Capital
Mekong Capital
Melwood Capital
Menlo Ventures
Mentor Capital Partners
Mercanti Group
Mercantile Capital Group, LLC
Mercapital Servicios Financieros
Merchant Capital
Merchants Capital Partners
Meridian Management Group
Meridian Venture Partners
Merit Capital Partners
Merit Energy Company
Meritage Private Equity Fund
Meritech Capital Partners
Mesirow Financial
Metapoint Partners
Mid Oaks Investments
Mid-Atlantic Venture Funds
MidBlock Capital Management
Middlebury Partners
Middlefield Capital Fund
MidMark Capital
Midwest Mezzanine Funds
Milestone Captial Partners
Milestone Partners
Miller Group
Mission Ventures
Mofet
Mohr Davidow Ventures
Momentum Funds Management
Monarch Financial Group
Monitor Clipper Partners
Montauk Advisors
Montreux Equity Partners
Morgan Stanley Private Equity
Morgan Stanley Venture Partners
Morgenthaler Ventures
Morpheus, LLP
Mosaix Ventures
Mountaineer Capital
MPM Asset Management
MTI Partners Limited
Murphee Venture Partners
Murphree Venture Partners
myQube
Navigation Capital
Nazem and Company
Needham Capital Partners
NeoCarta Ventures Incorporated
Nephila
Nest Ventures
Net Partners
New Business Venture Fund
New Day EQUITY GROUP
New England Partners
New Enterprise Associates
New Horizons Venture Capital
New Millenium Partners
New Mountain Capital
New Vantage Group
New World Ventures
New York Business Development Corporation (NYBDC)
New York Life Venture Capital Group
Newbury Ventures
Newbury, Piret & Company
NewCastle Partners LLC
Newhaven Corporate Finance Limited
Newlight Associates
Newlight Capital LLC
NewSpring Ventures
Newton Technology Partners
NewVista Capital
Next Generation Fund
NextGen Capital
NextPoint Partners, L.P.
Nexus Group
NIB Capital Private Equity
Nordic Capital
Noro-Moseley Partners
North American Business Development Company
North Atlantic Capital
North Bridge Venture Partners
North Coast Technology Investors
North Hill Ventures
Northern Venture Managers
Northwest Capital Appreciation
Northwest Venture Associates
Northwood Ventures
Norwest Venture Capital
Norwest Venture Partners
Norwood Venture Corporation
Nova Capital Management Ltd
Novak Biddle Venture Partners
Noveltek Capital Corporation
Noventi
Novo A/S
NPM Capital
Oak Hill Capital Management Incorporated
Oak Investment Partners
Oaktree Capital Management
Oasis Private Equity
OCA Ventures
Octavian Growth Partners
Odeon Capital Partners
Odewald & Compagnie Gesellschaft für Beteiligungen
Odin Capital Group
Odyssey Investment Partners
Olive Capital LLC
Olympic Venture Partners
Olympus Partners
ONSET Ventures
OntologicsWorldwide
Open Prairie Ventures
OpenGate Capital
Opes Ventures
Oracle Investment Management Incorporated
Orchid Holdings
Oresa Ventures
Osprey Ventures
O’Sullivan Pullini
OVP Venture Partners
Oxford Bioscience Partners
PA Early Stage Partners
Pacesetter Capital Group
Pacific Century Group Ventures
Pacific Corporate Group
Pacific Equity Partners
Pacific Horizon Ventures
Pacific Mezzanine Fund
Pacific Venture Group
PALMETTO FUND LLC
Palomar Ventures
Panarama Capital LLC
Pappajohn Capital Resources
Pappas & Associates
Pappas Ventures
Parallel Investment Partners
Paramount Capital Investments
Parente Capital Group
Partech International
Parthenon Capital
Patria Finance
Paul Capital Partners
Peachtree Equity Partners
Peninsula Capital Partners, L.L.C.
Pennell Venture Partners
Permal Capital Management
Peterson Patners LP
Petra Capital Partners
Pfingsten Partners
Phillips Smith Machens Venture Partners
Phoenix Growth Capital
Pinecreek Capital
Plantagenet Capital
PME Investimentos
PNC Equity Management Corporation
Polaris Private Equity
Polaris Venture Partners
Polestar Capital Inc.
Pomona Capital
Portage Venture Partners
Portfolio Equities Inc.
PortView Communications Partners
Postern Fund Management
Pouschine Cook Capital Management
PPM America
PPM Ventures
Prairie Capital
Prelude Technology Investments
Primary Capital
Primedia Ventures
Primus Capital
Prism Capital
Prism Venture Partners
Private Equity Investors
Private Equity Partners
Private Equity Partners, Inc.
Procuritas Partners
Prometheus Partners
ProQuest Associates
Prospect Partners
Prospect Street Ventures
Providence Equity Partners
Psilos Group Managers
Quadrangle Group
Quaestus & Company
Quantum Capital Partners
Quantum Technology Ventures
Quester Capital Management
QuestMark Partners
R.D. Funding and Consulting
Radius Ventures
RAF Industries
Rankin Capital Investments
Ravenswood Capital
Red River Ventures
Red Rock Capital
Redleaf Group
Redshift Ventures
Redwood Capital Corporation
Redwood Capital Group
Redwood Venture Partners
Rein Capital
Ren-Cap Holdings
Rennaisance Ventures
Resilience Capital Partners
Retail & Restaurant Growth Capital
RFE Investment Partners
RHO Management Company
Rice Sangalis Toole & Wilson
Richland Ventures
Ridge Capital Partners
Ridgewood Capital
River Associates Investments, LLC
River Capital, Inc.
River Cities Capital Fund
Riverside Company, The
Riverside Partners
RLH Investors
Roark Capital Group
Rock Creek Capital
Rocket Ventures
RockWood Equity Partners
Roda Group
Roser Ventures
RoundTable Healthcare Partners
Royal Bank Ventures
RRE Ventures
Rutledge Capital
RWI Group
Safeguard International Fund
Safeguard Scientifics
Safron Advisors
Sage Capital Partners
SAIC Venture Capital Corporation
Sail Venture Partners
Salix Ventures
Samsung America Venture Capital
Sanderling Ventures
Sanders Morris Harris Incorporated
Sandler Capital Management
SÄNTIS Investment AG
Saratoga Partners
Saugatuck Capital Company
Saw Mill Capital
SawMill Capital
SB Partners
Schroder Ventures Group
Schroder Ventures International Life Sciences
Scottish Equity Partners
SCP Private Equity Partners
SE Interactive Technology Funds
Seacoast Capital Partners
Seaflower Associates
Seaport Capital
Seed Capital
Seidler Equity Partners, LP
Selby Venture Partners
Select Film Fund Management, LLC
Sentinel Capital Partners
Sentry Financial Corporation
Sequel Venture Partners
Sequoia Capital
Seven Hills Partners
Sevin Rosen Funds
SFW Capital Partners
SGF Soquia Incorporated
Shamrock Holdings
Sherbrooke Capital
Sherpa Partners
Shrem, Fudim, Kelner & Company (SFK)
Siemens Corporation
Sienna Ventures
Sierra Ventures
Sigma Partners
Signal Equity Partners
Siguler Guff & Company, LLC
Silicon Alley Venture Partners (SAVP)
Silver Brands Incorporated
Silver Creek Ventures
Silver Lake Partners
SilverHaze Partners
Siparex Group
Sipple Macdonald Ventures
SIRIS PARTENAIRES
SITRA (Finnish National Fund for R&D)
Skandia Investment
Slovak American Enterprise Fund (SAEF)
Sofinnova Partners
Sofinnova Ventures
Softbank Venture Capital
Solera Capital
Sonenshine Pastor /SP Capital
Sony Strategic Venture Investment
Sorrento Ventures
Source Capital
South Atlantic Venture Funds
Southcoast Investment Group
Southeast Interactive Technology Funds
Southeastern Technology Fund
Sovereign Capital
Sovereign Capital Limited
Spectrum Equity Investors
Spell Capital Partners
Spencer Trask Ventures
Spinnaker Ventures
Spire Capital Partners, LP
Spray Venture Partners
Spring Capital Partners
Sprout Group
S-Refit
SRIW
Staenberg Private Capital
STAR Capital Partners
Star Ventures Management
Starlight Capital
Start-up Australia
StarVest Management Company
Starwood Capital Group
Steel Capital
Steel Partners
Sterling Capital
Sterling Investment Partners, L.P.
Sterling Venture Partners
Sternhill Partners
Steve Walker & Associates
Still River Fund
Stolberg Equity Partners
Stolberg Equity Partners, LLC
Stone Point Capital
Stonebridge Partners
Stonington Partners
Strategic Advisory Group
Strategic Investments & Holdings, Inc.
Stratus Investimentos
Summer Street Capital Partners
Summit Park Partners
Summit Partners
Sustainable Jobs Fund
Sutter Hill Ventures
SV Investment Partners
Svenska Risk Kapital Foreningen
Svoboda, Collins
Swander Pace Capital
Synetro Capital
TA Associates
TALDE
Talon Equity Partners, LLC
Tamir Fishman Ventures
TCW/Crescent Mezzanine
TD Capital
Technnology Crossover Ventures
TechnoCap
Technology Crossover Ventures
Technology Funding
Technology Funding
Technology Partners
Technology Venture Partners
TechnoStart
Techxas Ventures
Telecommunications Development Fund
TeleSoft Partners
Telos Venture Partners
Tennessee Valley Ventures
Terra Firma Partners Limited
Teuza Management & Development
Texas Growth Fund
Texas Instruments
TGV Partners
Thayer Capital Partners
The Angels’ Forum
The Berkshires Capital Investors
The Compass Group International
The Cypress Group
The Gabriel Management Group
The Halifax Group
The Hermes Group LLC
The Renaldi Group
The Sangreal Group
The Shansby Group
The Shotgun Fund
The Sterling Group
The Succession Fund
The View Group
The Wicks Group of Companies
Thoma Cressey Bravo
Thompson Clive Partners
Thompson Street Capital Partners
Three Arch Partners
Three Cities Research
Tianguis Limited
Ticonderoga Capital
Timberline Venture Partners
TL Ventures
Top Technology
Tortoise Capital Partners
Toucan Capital
Transition Capital Partners
Trellis Partners
Triathlon Medical Ventures
Tricor Pacific Capital, Inc.
Trident Capital
Trimaran Capital Partners
Trinity Ventures
Triton Ventures
Trivest Incorporated
TriWest Capital Partners Inc.
Truffle Capital
TSG Equity Partners
Tsi Holding Company
Tullis-Dickerson
T-Venture
TVM Techno Venture Management
U. S. Bancorp Piper Jaffray Ventures
U.S. Venture Partners
UBS Capital
UNC Partners (UNCP)
Union Capital Corporation
Union Ventures
Unison Capital
United Max International
UPS Strategic Enterprise Fund
VækstFonden
Vanguard Venture Partners
Vantagepoint Venture Partners
Vaxa Capital Partners
VCF Partners
VCHub Venture
VC-Invest.com Management Service
Vector Capital
Velocity Capital
Vencon Management
VenGrowth Capital
Venrock Associates
Ventana Growth Funds
Venture Associates Partners
Venture Capital Fund of America
Venture Capital Partners
Venture Investment Management Company (VIMAC)
Venture Investors Management
Venture Management Services (VMS)
Venture Select
VentureHouse Group
Ventures West
Venturis
Verax Capital, LLC
Veritas Capital
Veronis Suhler Stevenson
Versant Ventures
Vertex Management
Vestar Capital Partners
Vestor Partners
Vintage Capital Group, LLC
Virginia Capital
Vision Capital
Vista Research and Management
Vortex Partners
Voyager Capital
vSpring Capital
Vulcan Ventures
W.J. Bradley Company
Wachovia Capital Associates
Wafra Partners
Wakabayashi Fund LLC
Wakefield Group
Walden Capital Partners
Walden Group of Venture Capital Funds
Walden International (WI)
Wales Fund Managers
Wand Partners
Warburg Pincus Global Private Equity Investing
Warwick Group
Wasatch Venture Fund
Washington Capital Ventures, L.L.C.
Washington Dinner Club
Washington Research Foundation Capital (WRF)
Waterland Private Equity Investments
Watermill Ventures
Waterside Capital Corporation
Waud Capital Partners
WI Harper Group
William Blair Capital Partners
Willis Stein & Partners
Winchester Capital Technology Partners
Wind Point Partners
Windward Ventures
Wingate Partners
Winston Partners Group
Wolf Ventures
Woodside Fund
Wynnchurch Capital, Ltd.
Yasuda Enterprise Development
YFM Group
Yozma Management and Investments
Zilkha Venture Partners
Zinno Group, Inc.
ZS Fund
Zurmont Finanz

Wasserstein Interview with Fortune & Blackstone’s Schwartzman

Thursday, February 18th, 2010

RIP Mr. Wasserstein, legendary deal maker of Lazard Freres…

[youtube]http://www.youtube.com/watch?v=rkXByjKgv6o[/youtube]

~I.S.

Comprehensive List of Investment Banks

Sunday, November 8th, 2009

Wall Street

A.G. Edwards Keefe, Bruyette & Woods
ABN Amro KeyCorp
Allen & Company Kidder, Peabody & Co.
Allegiance Capital Corporation KPMG Corporate Finance
AllianceBernstein Kleinwort Benson
Allianz Kuhn, Loeb & Co.
Alpha Omega Capital Partners L.F. Rothschild
Ambrian Ladenburg Thalmann
Babcock & Brown Lazard
Baird Lazard Capital Markets
Bank of America Merrill Lynch Lee, Higginson & Co.
Bank of NY Mellon Leerink Swann
Bank of Nova Scotia Lighthouse Capital Advisors
Bank Leumi USA Lincoln International
Barclays Lloyds TSB Group plc
BB&T Corp. M&T Bank
BCC Capital Partners Macquarie Bank
Bengur Bryan & Co. McColl Partners
Blackstone Group McGladrey Capital Markets
BMO Miller Buckfire
BNP Paribas Moelis & Co.
Boenning & Scattergood Mizuho Financial Group
Breckenridge Group Monte dei Paschi di Siena
Brisbane Capital Montgomery & Co.
Broadpoint Securities Montgomery Securities
Brookwood Associates Morgan Grenfell
Brown Brothers Harriman Morgan Joseph & Co.
Brown Gibbons Lang & Co. Morgan Keegan
Brown, Shipley & Co. Morgan Stanley
C.V. Lemmon & Co. Mosaic Capital
C.E. Unterberg, Towbin N M Rothschild & Sons
Calyon National City Corp.
Caymus Partners Needham & Company
Canaccord Adams Neuberger Berman, LLC
Cantor Fitzgerald Newbury Piret
Caris & Company Newsouth Capital Management inc.
Carnegie, Wylie & Company NIBC
Cascadia Corp. Noble Bank
CIBC Nomura
Citigroup Oppenheimer
Close Brothers Group P&M Corporate Finance
Comerica Park Lane
Commodities Corporation Penn Capital Group
Cowen Group, Inc. Perella Weinberg Partners
Credit Suisse Peter J. Solomon Company
Curtis Financial Group Petrie Parkman & Co.
D.A. Davidson & Co. Piper Jaffray
Deka Bank PNC Financial Services
Deloitte & Touche Corporate Finance Prarie Capital Advisors
Deutsche Bank Provident Capital Advisors
Dominion Partners Provident Healthcare Partners
Dresdner Kleinwort Prudential Securities
Duff & Phelps Putnam Lovell
E. F. Hutton Rabobank
Edgeview Partners Regions Financial Services
Evercore Partners Raymond James
Fifth Third Bancorp. Robert Fleming & Co.
Financo, Inc. Robert W. Baird & Company
First Horizon National Corp. Robertson & Foley
Focus Enterprises Robertson, Stephens
Fortis Bank Royal Bank of Canada
Fox-Pitt, Kelton Royal Bank of Scotland
Friedman Billings Ramsey Rutberg & Co.
G.H. Walker & Co. Ryan Beck & Co.
Gemini Partners Sagent Advisors
Genuity Capital Markets Salman Partners Inc.
Gerard Klauer Mattison Salomon Brothers
Goldman Sachs Sandler O’Neill + Partners
Grace Matthews Saxo Bank
Greenhill & Company Schroders
Greif & Co. Scotia Bank
Growth Capital Partners Shoreline Partners
Grupo Santander Societe Generale
GulfStar Group Soundview Technology Group
GW Equity SPP Capital Partners
H. B. Hollins & Co. Stephens Inc.
Harpeth Capital Stifel Nicolaus
Halsey, Stuart & Co. St. Charles Capital
Hambrecht & Quist SunTrust Banks, Inc.
Hambros Bank Susquehanna International Group, LLP (SIG)
Harris Williams & Company SVB Alliant
Harris, Forbes & Co. T. Rowe Price
Headwaters MB TD Securities
Heritage Capital Group The DAK Group
Herrera Partners ThinkEquity Partners, LLC
Hilco Corporate Finance, LLC ThinkPanmure LLC
Houlihan Lokey Howard & Zukin Thomas Weisel Partners
HSBC Toronto-Dominion Bank
Hyde Park Capital Advisors Transparent Value
Imperial Capital, LLC Trenwith Securities
ING Group Triangle Capital Partners
Investec TSG Partners, LLC
Investment Technology Group UBS AG
Ironwood Capital Unicredit
J. & W. Seligman & Co. Union Bank of California
Janes Capital Partners Vercore
Janney Montgomery Scott Verdant Partners
Jefferies & Co. Webster Financial Corp.
JMP Securities Wells Fargo
Jordan, Knauff & Company White Weld & Co.
JPMorgan Chase William Blair & Company
Kaupthing Bank WIT Capital
KBC Bank WR Hambrecht+ Co

Blackstone Negotiates Deal for Anheuser Busch Theme Parks

Sunday, November 8th, 2009

Blackstone Logo

On October 7, 2009, Blackstone Capital Partners V L.P. entered into a definitive agreement with Anheuser-Busch InBev (NYSE: BUD) to purchase its entertainment business for USD 2.7 billion.  Busch Entertainment corporation currently operates 10 entertainment parks across the United States with 25 million annual visitors.  Parks include three Seaworld parks in Orlando, San Antonio, and San Diego, two Busch Gardens parks in Tampa and Williamsburg, and other family entertainment locations in the U.S.

Blackstone already owns Madame Tussauds, as well as a stake in Universal Studios in Orlando.

This deal was one of the largest announced this year following the credit crisis, and will help Anheuser-Busch Inbev pay down the debt it accumulated in its July of 2009 merger.  The merger of InBev and Anheuser-Busch last year created one of the world’s five largest consumer products companies globally.  At the time of the merger, the combined company was projected to have pro forma revenues of $36.4 billion and EBITDA of $10.7 billion.

Anheuser-Busch Inbev also sold its South Korean brewery for $1.8 billion to KKR earlier this year to pay down the acquisition debt incurred from the earlier merger.

According to Anheuser’s PR department:

Carlos Brito, Chief Executive Officer of Anheuser-Busch InBev, said: “Busch Entertainment Corporation is a high performing asset with a world-class management team, but not a core business for Anheuser-Busch InBev. We are pleased to have reached an agreement with a buyer who understands the industry and has a strategic vision for the business. The sale of BEC represents another important milestone in our commitment to de-leverage the company and will also allow us to continue to focus on our core brewing business.

“The Blackstone Group is a preeminent private equity firm and we are very happy to have reached an agreement with Blackstone. We have great respect for BEC’s management and employees and know they will continue to prosper under Blackstone’s ownership.”

Joseph Baratta, Senior Managing Director of The Blackstone Group, said: “We have long admired the Busch Entertainment Corporation parks. They are the premier collection of entertainment parks in the United States and offer a unique family experience. We are pleased to have the opportunity to acquire this business. We have deep sector experience and look forward to working with the excellent BEC management team to continue to invest in and grow the company.”

The financing for the acquisition consisted of senior secured credit facilities and mezzanine debt.  The senior credit facilities were provided by BofA Merrill Lynch, Barclays Capital, Deutsche Bank Securities Inc., Goldman Sachs Loan Partners and Mizuho Corporate Bank Ltd. The mezzanine financing was provided by Goldman Sachs Mezzanine Partners and funds managed by GSO Capital Partners LP.

Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone.

J.P. Morgan and Lazard acted as financial advisors to Anheuser-Busch InBev.

Sullivan & Cromwell LLP acted as legal counsel to Anheuser-Busch InBev.

Please see Anheiser-Busch press release…

Blackstone Group Purchases Stake in Glimcher Properties REIT

Saturday, November 7th, 2009

Blackstone Logo

Blackstone ventured into Columbus, Ohio this week to purchase a 60% stake in two Glimcher Realty Trust properties. Glimcher Realty Trust is a REIT or real estate investment trust that posted a $1.3 million net loss for 2Q09. The enterprise value of the Blackstone deal was about $320 million and assumed $218 million in mortgage debt. The two properties, WestShore Plaza and Lloyd Center are well known mall sites. Westshore itself is about 1.1 million square feet with tenants include Saks Fifth Avenue, Sears, and Macy’s. Lloyd Center is a regional mall of about 1.42 million square feet. Its anchor stores include Barnes & Noble, Marshall’s, and Sears.

The transaction will give Glimcher necessary liquidity and will position Blackstone as the economy recovers and mall vacancies subside.

Please visit GlobeSt.com for full news article…

Mega Deals in Default

Saturday, November 7th, 2009
Courtesy of Moodys & ZeroHedge

Courtesy of Moodys & ZeroHedge