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Deval Patrick joins Bain Capital to lead new social impact fund
Former Massachusetts Gov. Deval Patrick has joined Bain Capital as a managing director and head of a new investment platform focused on “social impact,” Fortune has learned. Yes, the same Bain Capital...
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Men’s Wearhouse has a plan to make Joseph Abboud a $1 billion brand
Nearly two years after Men’s Wearhouse MW bought the Joseph Abboud brand for a song, the company has opened the designer label’s first ever flagship store with a view to reviving the brand and tapping...
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Wal-Mart’s ex-CEO Mike Duke joins private equity firm Carlyle
Former Wal-Mart Stores WMT CEO Mike Duke has found a new gig: he has joined Carlyle Group CG as an operating executive advising the private equity giant’s dealmakers in their investments in the...
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How Virtu Financial went from PR pariah to IPO idol
Most of this morning’s IPO headlines have been about Etsy ETSY , but Virtu Financial VIRT has had a more intriguing ride to the public markets. Virtu is the high-speed trading firm that was all set to...
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Hillary’s tax threats shouldn’t worry Wall Street
During her first public campaign stop in Iowa on Tuesday, Hillary Clinton served up some red meat for the income inequality crowd. Here was the line that jumped out at me: “There's something wrong when...
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Announcing the bold-faced names for Fortune Brainstorm Tech 2015
Technology-industry business conferences come and go. Fortune's Brainstorm franchise, now in its 14th year, endures because of its unique blend of the power of Fortune 500 companies, the excitement of...
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Public pensions own payday lender that is illegal in their own states
Going back to colonial days, it has been illegal for payday lenders to operate in the state of New York. Same goes for neighboring New Jersey. But public pension funds in both states are indirect...
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Offering an exit strategy for aging European business owners
When Barcelona native Marc Bartomeus graduated from MIT's Sloan School of Management in 2010, he didn't head to Silicon Valley or jump into a consulting gig. Instead, he raised a little over EUR200,000...
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EQT Partners loses its head of U.S. infrastructure investing
Glen Matsumoto has stepped down as a New York-based partner with Swedish private equity giant EQT Partners, Fortune has learned. Matsumoto had been with EQT since 2007, when he co-founded its...
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David Rubenstein was right about SunGard
Ten years ago, The Carlyle Group and Thomas H. Lee Partners were among seven private equity firms that had teamed up to acquire software giant SunGard, in a deal that kept getting more expensive with...
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Blackstone raises $17 billion for buyout fund, and it’s not done yet
The Blackstone Group BX has quietly held a $17 billion first close for its seventh global buyout fund, and already has enough commitments to reach its $17.5 billion cap. This does not yet include...
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Mike Cavanagh stuns Wall Street again, joins Comcast as CFO
Last March, Mike Cavanagh stunned Wall Street by stepping down as co-CEO of corporate and investment banking with J.P. Morgan Chase JPM , where he was considered by many to be the heir apparent to CEO...
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Crystal palace: Waterford Wedgwood turnaround pays off big for KPS Capital
The deal just didn’t seem to make much sense. That was the conventional wisdom in January 2009, when KPS Capital Partners announced that it would acquire certain assets of luxury home-goods maker...
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Private equity won’t buy Huffington Post on its own
Verizon VZ this morning announced an agreement to buy AOL AOL for $4.4 billion, in an apparent attempt to marry the technology world’s two most annoying sounds. A couple of thoughts on the deal: 1. A...
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Richard Branson’s Virgin taps NYC Marathon director to head new sports venture
New York Road Runners CEO Mary Wittenberg, one of the most powerful women executives in sports and director of the world’s largest marathon, is stepping down from the running organization next week to...
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SEC still hasn’t removed phony Avon takeover ‘offer’
As we reported earlier, it appears that Avon Products AVP shareholders today got scammed by a fraudulent takeover offer that somehow was published via the Securities and Exchange Commission’s website....
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SEC enables Avon stock scam, and doesn’t seem to care
When normal people nod off behind the wheel, they hopefully wake up with a start and immediately course-correct. But when the Securities and Exchange Commission is driving, it just shrugs and goes back...
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Barney Frank backtracks on private equity rules
Back in January, former Congressman Barney Frank (D-MA) surprised a private equity conference audience, by suggesting that the Dodd-Frank financial reform package had been a bit too tough on private...
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Uber is battling one of its own investors for Nokia’s map unit
Uber has a new rival in its efforts to buy Nokia’s $4 billion digital mapping business, and it’s an investment firm that just happens to hold Uber stock. According to Reuters, Connecticut-based private...
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AOL: We had other suitors
AOL AOL today filed documents with the SEC that included background on its pending $4.4 billion acquisition by Verizon VZ . Among the revelations were that AOL entered into confidentiality agreements...
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