Category Archives: private equity

How David Rubenstein is Like Eliot Spitzer

Why would you invest money with the Carlyle Group? Is it because of their "disciplined approach" to investing? Their "conservative and disciplined investment philosophy"? Their "conservative investment philosophy and disciplined investment process"? Well, Carlyle co-founder David Rubenstein has some news … Continue reading

Posted in private equity | 1 Comment

When Private Equity Companies Fail

What happens when a private-equity shop fails? Boston Consulting Group thinks that will happen a lot in coming years: The consultants expect 50% of all companies backed by private-equity funds to default on their debt; as many as 40% of … Continue reading

Posted in private equity | Comments Off

Endowments Dump Private Equity Stakes

University endowments such as Harvard’s are almost uniquely well-suited to invest in private-equity funds: since they’re permanent pools of capital, they can ride out market fluctuations and illiquidity, and hold their stakes for decades if necessary until they mature. Or, … Continue reading

Posted in education, private equity | Comments Off

Might Blackstone Go Private?

At lunch today with Mick Weinstein of Seeking Alpha, I wondered whether Blackstone, which currently has a market capitalization of around $2 billion, might not be a takeover candidate. After all, it would be something of a jewel for many … Continue reading

Posted in blogonomics, hedge funds, private equity | Comments Off

LPs vs Shareholders at Blackstone

A Blackstone spokesman is quoted in the WSJ today, saying that the investors in the company’s funds are very happy that Blackstone went public. "Our LPs are very comfortable with our status as a public company," said a Blackstone spokesman. … Continue reading

Posted in private equity | Comments Off

Leon Black: The Picasso Connection

The art world has no √©minence more grise than John Richardson, art historian extraordinaire and author of an enormous biography of Picasso which, three volumes in, is still 40 (of Picasso’s) years from completion. Part of the problem is that … Continue reading

Posted in art, private equity | Comments Off

Private Equity in Hedge Funds: A Weird Combination

File under "things which really don’t make a whole lot of sense": Lehman Brothers aims to raise $3 billion to $5 billion for a fund to buy strategic minority stakes in hedge-fund managers, according to sources at the bank. The … Continue reading

Posted in banking, hedge funds, private equity | Comments Off

Leverage Datapoint of the Day

I’ve somehow managed to avoid so much as mentioning the Clear Channel saga on this blog until now; for some reason I just couldn’t get excited about it. But Heidi Moore gets a good quote in her summing up today … Continue reading

Posted in banking, private equity | Comments Off

The State of Private Equity

Apollo’s Leon Black (#6 on the latest private equity league table) kicked off an interesting discussion on the private equity panel this morning, when he said that the backlog of leveraged loans held by banks has come down from over … Continue reading

Posted in milken 2008, private equity | Comments Off

Why Private Equity Shops are Recapitalizing Banks

Many banks are raising capital these days; the latest to hit the headlines are Washington Mutual, raising $7 billion from TPG, and National City, which is getting something north of $7 billion from a syndicate led by Corsair Capital. Such … Continue reading

Posted in banking, private equity | Comments Off