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Silver Lake’s double-dip with Avago is paying off big
Private equity firm Silver Lake has done the unthinkable. It double-dipped a chip, and is earning big praise rather than scorn. Ten years ago, Silver Lake and Kohlberg Kravis Robers & Co. KKR...
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Why MBAs are becoming less important
As business schools strive to stay relevant while they compete with Silicon Valley for new recruits, here’s one more reason not to go: Your boss might not make you. According to an article in The Wall...
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GE’s sale to Canada Pension Plan: There is a way to avoid PE firms, and their...
Who said pension fund managers can’t sidestep private equity firms? Canada Pension Plan said on Tuesday that it would buy GE Capital’s arm that provides financing to private equity deals. And late last...
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What Avon can learn from direct-selling fashion company CAbi
Conventional wisdom dictates that direct selling is a pass? business model, what with people’s busy lives preventing them from being home to greet door-to-door salespeople and a growing preference for...
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Goodbye Jimmy Lee (and thanks for the job)
Each morning I write Term Sheet, a daily newsletter that may not exist were it not for J.P. Morgan Chase vice chairman Jimmy Lee. Not because he was directly involved — beyond giving the occasional...
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Energy investment firm powers down after just two months
Back in April, Citrine Energy Capital announced its arrival as a new energy-focused private equity firm with some serious sector credibility. One of its three co-founders, Dallas-based Billy Quinn, had...
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Ex-Sanofi CEO talks about his new $2 billion investment fund
Last October, Sanofi stunned the healthcare industry by firing CEO Chris Viehbacher, who was best-known for spearheading the French pharma giant’s $20 billion acquisition of Genzyme three years...
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Is private equity ripping off retirees?
New York Times reporter Gretchen Morgenson recently wrote a startling piece about how private equity firms allegedly steal from their investors by shifting expenses associated with attorneys and other...
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Trump is going after wrong country in Univision flap
Spanish-language broadcaster Univision today said that it will not air next month’s Miss USA beauty pageant, due to “insulting remarks about Mexican immigrants” made by presidential candidate Donald...
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CalPERS again falls short on private equity oversight
The California Public Employees’ Retirement System (CalPERS) used to be the 800 lb. gorilla of private equity, with hundreds of fund relationships and seemingly-unlimited resources. Between 2006 and...
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SEC slams KKR for breaching fiduciary duty
Private equity giant Kohlberg Kravis Roberts & Co. KKR has agreed to pay nearly $30 million to settle SEC charges that it breached fiduciary duty to investors in its flagship private equity funds...
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More evidence that CalPERS’s private equity problem is about CalPERS, not...
Last week I wrote about how the California Public Employees’ Retirement System claimed it is unable to track the incentive fees (i.e., carried interest) that it pays to its outside private equity fund...
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Following criticism, CalPERS asks private equity funds for profit data
In April, a senior staffer at the California State Employees’ Retirement System (CalPERS) told investment committee members that the $300 billion public pension giant “could not track” the incentive...
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Carlyle’s Rubenstein: My tax rate isn’t a major concern
David Rubenstein, co-CEO of private equity giant The Carlyle Group CG , isn’t worried about Congress possibly raising his taxes by raising capital gains rates or closing the so-called carried interest...
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Corporate mergers hit highest level since just before the Great Recession
Global merger and acquisition activity in the first half of 2015 hit levels not seen since the first half of 2007, according to data released this morning by Thomson Reuters. Everything worked out fine...
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Univision slights Trump in IPO filing
Spanish-language broadcaster Univision today filed to raise $100 million in its initial public offering, although that’s almost certainly a placeholder that will eventually be replaced with a much...
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After buying Safeway, Albertsons files for IPO
U.S. supermarket giant Albertsons this morning filed for an initial public offering, and reported more than $57 billion in pro forma 2014 revenue. The Boise, Idaho-based company said that it plans to...
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Albertson’s files for IPO, but private-equity owner won’t cash out yet
Albertson’s Cos., the U.S.’s second-largest grocery store group that owns Safeway, Tom Thumb, Jewel-Osco and Acme, has filed documents for an initial public offering. The filing represents a first step...
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This Rhode Island private equity scandal is not a scandal
The Rhode Island Treasury is under some fire for paying management fees to private equity funds on capital that the private equity funds don’t actually control. It shouldn’t be. I realize that, on the...
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Exclusive: Castle Harlan to wind down
Private equity firm Castle Harlan has decided to wind down operations after 28 years in business, Fortune has learned. The New York-based firm will continue to manage out its fourth and fifth funds,...
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