Daniel Gross looks at the (mis)management of Harvard's endowment portfolio. Or as he says, "looks like it was chosen by someone who watched a few episodes of CNBC's Squawk Box and heard that the hot new investments were emerging markets, commodities, and private equity." Gross writes: The biggest position disclosed—all [...]
Mark Wilson who teaches Economics here at SBU has been advocating that a solution to the excessive risk taking and misaligned incentives is to return to partnership arrangements where the management would have more at stake.Last week in Michael Lewis' epic "The End of Wall Street's Boom" piece the same [...]
VC Circle |
November 23rd, 2008 |
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Troubled banking giant Citigroup has sacked over 37 officials in India as the bank has announced 50,000 more job cuts globally. The 37 people who have been asked to leave from Citi India consist mostly of senior executives, reports Economic Times. people have been asked to let gofrom retail, investment [...]
VC Circle |
November 10th, 2008 |
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At a time when private equity funds are struggling to scoop up new funds, political diplomacy is giving birth to new bilateral funds. The latest to join the league is Indo-Oman joint investment fund formed by SBI and the government of the Gulf state of Oman. The fund's initial corpus [...]
VC Circle |
November 8th, 2008 |
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India focused private equity fund New Silk Route (NSR) has raised $1.34 billion for its $1.5 billion fund. New Silk Route PE Asia Fund LP has said that it has raised the amount in a regulatory filing, reports Pehub. NSR started investing in India early last year and has done [...]
VC Circle |
November 7th, 2008 |
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Software billionaire Azim Premji's private equity arm has also put its hat in the ring for a piece of Capt. GR Gopinath's new venture Deccan Cargo. The end-to-end logistics venture is raising $50-60 million at a valuation of around $150 million. PremjiInvest is looking to invest around $30-35 million, and [...]
VC Circle |
November 6th, 2008 |
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TeleDNA Communications Pvt Ltd, a US and Bangalore-based mobile VAS solution provider, has raised $10 million from Hyderabad based private equity firm Peepul Capital. TeleDNA plans to venture into managed services/MVNO offerings for mobile network operators (MNO), especially in areas like MMS and cell broad cast. It also plans to [...]
NYT Dealbook |
November 6th, 2008 |
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Facing a federal budget stretched thin by the financial crisis, will Barack Obama and the new, bluer Congress look to private equity again? Last year, there were fierce debates in Washington and on Wall Street about a proposal to remove the tax break on "carried interest," which is income earned [...]
24/7 Wall St. |
November 6th, 2008 |
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There is not a man with a typewriter who can avoid writing about how much debt the US government has and how much more it will have to take on. Paulson's program will put $700 billion more on the "red" side of the ledger. The deficit for the federal government's [...]
NYT Dealbook |
November 5th, 2008 |
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The natural-food grocery chain Whole Foods Market announced late Wednesday afternoon that it was selling a 17 percent stake in the company to the private equity firm Leonard Green & Partners for $425 million. Under the terms of the deal, Leonard Green, through its affiliate Green Equity Investors V, will [...]
24/7 Wall St. |
November 5th, 2008 |
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Greenhill & Co., Inc. (NYSE: GHL) has filed to sell up to 3.5 million shares of common stock in a secondary offering. The offering will allow the company and certain stockholders to sell shares from time to time at prices and terms to be determined. No underwriters and no terms [...]
NYT Dealbook |
November 5th, 2008 |
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Novariant, a maker of farming technology, has landed $40 million in a round led by Investor Growth Capital. Other investors in the start-up, which says it is experiencing strong demand for its products, included new investors Sierra Ventures and Ridgewood Capital, as well previous backers Argonaut Private Equity and Clearstone [...]
NYT Dealbook |
November 4th, 2008 |
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As Kohlberg Kravis Roberts prepares to become a public company - a plan that has suffered some technical delays - the private equity giant has hired another spokesman to get its message out. K.K.R. said on Tuesday that it has hired Peter McKillop as its director of global communications, effective [...]
NYT Dealbook |
November 4th, 2008 |
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The next Congress is likely to put additional regulation of Wall Street high on its to-do list. Just in time for Election Day, Stephen Schwarzman, the head of private equity giant Blackstone Group, has some advice for lawmakers on how he thinks they should proceed. In an opinion piece in [...]
VC Circle |
November 4th, 2008 |
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KKR, the pioneers of leveraged buyouts with more than $60bn under management will not go public this year as they had previously planned. This marks the clearest indication of how things are increasingly turning against the private equity industry. The company, a private equity firm said that it has postponed its [...]
VC Circle |
November 4th, 2008 |
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US-based law firm Goodwin Procter LLP has opened its Asia office in Hong Kong and it plans to focus on it's expertise in private equity, venture capital, technology companies and fund formation. The Boston-based Goodwin Proctor also has an office in Silicon Valley. The move comes as Goodwin Procter has [...]
NYT Dealbook |
November 4th, 2008 |
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Large institutional investors whose fidelity to private equity investments helped fuel the buyout boom are losing interest in the investment strategy, The Wall Street Journal reported. As the private equity industry begins to be squeezed on all fronts, the flight of public pension fund and endowment money could mean an [...]
VC Circle |
November 3rd, 2008 |
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Even in the current global economic turmoil, SBI is planning to go ahead with core sector fund. State Bank of India (SBI) is planning to launch an infrastructure private equity (PE) fund of $1 - 1.5 bn with Australia's Macquarie Group and International Finance Corporation (IFC), World Bank's PE arm. [...]
VC Circle |
November 3rd, 2008 |
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ICICI Venture has joined the likes of ChrysCap, Nalanda Capital and Warburg Pincus in buying shares of listed companies from the secondary market. The private equity firm through its India Advantage Fund-VI bought 2.78% in multiplex operator PVR Ltd on October 29. Given the weighted average price of the scrip [...]
VC Circle |
November 3rd, 2008 |
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Media and entertainment company, Zee News Ltd, has acquired a 26% stake in Sky B (Bangla) Pvt Ltd, a regional media company of West Bengal. Zee News already runs a Bengali news channel, 24 Ghanta, owned by Zee Akaash News Pvt. Ltd. in a 60:40 JV with Sky B. While [...]
NYT Dealbook |
November 3rd, 2008 |
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George Roberts, co-founder of the storied private equity firm Kohlberg Kravis Roberts, said Monday that he and his partner, Henry Kravis, "remain committed" to taking the firm public. His comments came after KKR Private Equity Investors, an affiliate of K.K.R. that already trades in Amsterdam, announced Sunday that K.K.R.'s proposed [...]
