In October, private equity powerhouse, TPG, scored a big win as it took Myer (which is a retailer based in Australia) public. The gains came to a mouth-watering $1.46 billion.

But now there's a huge problem; that is, the Australian tax authorities sent TPG a bill for a whopping $628 million. Its for back taxes, as well as penalties.

Continue reading TPG gets whacked by a $628 million tax bill

TPG gets whacked by a $628 million tax bill originally appeared on BloggingStocks on Wed, 25 Nov 2009 13:30:00 EST. Please see our terms for use of feeds.

Playboy is such a mess that even the hint that a company is interested in it triggers a reaction. Oak Hill Capital Partners, a private equity firm, announced Wednesday that it has no interest in buying ailing adult media company Playboy (PLA), despite previous media reports indicating the contrary. Of course, this sent Playboy's shares down 3.7%. Oak Hill didn't just say "no way" to the present but made it clear for the future as well.

This follows a statement by Golden Gate Capital that it wouldn't be involved in a Playboy acquisition, again, despite suggestions in the media that it might make a move for the bunny. The latest possible buyer is Iconix Brand Group, which is generally hungry for brand acquisitions. Playboy is keeping its mouth shut on the matter.

Continue reading Bunny beaten: No interest in Playboy

Bunny beaten: No interest in Playboy originally appeared on BloggingStocks on Thu, 19 Nov 2009 14:10:00 EST. Please see our terms for use of feeds.

Controlled by the Blackstone Group (BX), Pinnacle Foods is a packaged foods company whose brands can be found in about 80% of the households in the U.S. The portfolio includes Duncan Hines baking mixes and frostings, Vlasic pickles and Swanson frozen dinners.

Well, Pinnacle will get even bigger; that is, the company -- along with the financing from Blackstone -- will purchase Birds Eye Foods for roughly $1.3 billion. There will also be debt financing from Barclays Capital (BCS), Credit Suisse (CS), BofA Merrill Lynch (BAC), HSBC and Macquarie Capital.

Continue reading Blackstone chomps on $1.3B deal for Birds Eye

Blackstone chomps on $1.3B deal for Birds Eye originally appeared on BloggingStocks on Thu, 19 Nov 2009 12:40:00 EST. Please see our terms for use of feeds.

Japan's warming up to buyouts? originally appeared on BloggingStocks on Mon, 16 Nov 2009 15:40:00 EST. Please see our terms for use of feeds.

Sunny skies are here for Ausra, the solar thermal company backed by Kleiner Perkins and Khosla Ventures. The company is looking for a buyer, and it's already talking to three, according to a report by Reuters. Everything is up for grabs, from a majority stake in the company to 100% of it, and the back-and-forth going on is at a "very aggressive level."

The businesses looking to pick up Ausra are said to be global power generation conglomerates but haven't been named yet. So, the clean energy company would be a way for one of them to diversify.

Continue reading Three buyers vying for solar thermal company Ausra

Three buyers vying for solar thermal company Ausra originally appeared on BloggingStocks on Sat, 14 Nov 2009 18:31:00 EST. Please see our terms for use of feeds.

Dollar General Store (DG) started as a wholesaler in 1939 and then became a retailer in 1955, when the company setup its first store. Since then, the company has grown rapidly. Now, Dollar General is the largest discount retailer in the U.S. -- that is, in terms of the number of stores (which is currently at 8,577).

A few years ago, Dollar General went private, with the backing of KKR, Citi (C), Goldman Sachs (GS), Wellington Management and the Canada Pension Plan Investment Board. It was at the height of the buyout boom, with a price tag of $7.3 billion. Only $2.8 billion was in equity.

Continue reading Dollar General goes retail on Wall Street

Dollar General goes retail on Wall Street originally appeared on BloggingStocks on Fri, 13 Nov 2009 13:20:00 EST. Please see our terms for use of feeds.

Continue reading KKR guns for a military deal -- buys Northrop Grumman's TASC

KKR guns for a military deal -- buys Northrop Grumman's TASC originally appeared on BloggingStocks on Mon, 09 Nov 2009 08:20:00 EST. Please see our terms for use of feeds.

Vibe, the urban music magazine, is clawing its way back to life. New owners and editors are trying to make the magazine a success reality again, and they are making the web a priority ... which shouldn't be news but is for an ailing print industry.

The new editor-in-chief, Jermaine Hall, told AdAge that "Vibe.com is really the hub," and that everything needs to point back to the online presence. The print publication will be just one part of the Vibe Lifestyle Network, a move we're also seeing with the likes of Rolling Stone, where the website is being brought back into the fold (and may actually get some resources).

Continue reading Vibe makes a comeback, realizes internet is important

Vibe makes a comeback, realizes internet is important originally appeared on BloggingStocks on Wed, 04 Nov 2009 13:00:00 EST. Please see our terms for use of feeds.

Over the past decade we seen at least $1 trillion dollars spent by private equity firms. These firms have taken over companies for a pittance and then pillaged them by slashing employees and cutting costs. They then used the money to pay down debt rather than rebuilding the company.

Now all of the debt thrown on the acquired companies is coming due and it could cause another economic disaster, even bring down the economy.

Continue reading Will private equity take down the economy?

Will private equity take down the economy? originally appeared on BloggingStocks on Tue, 03 Nov 2009 13:30:00 EST. Please see our terms for use of feeds.

Continue reading IPOs getting a buzz kill?

IPOs getting a buzz kill? originally appeared on BloggingStocks on Mon, 02 Nov 2009 16:30:00 EST. Please see our terms for use of feeds.

Continue reading Vitamin Shoppe pumps up its IPO

Vitamin Shoppe pumps up its IPO originally appeared on BloggingStocks on Wed, 28 Oct 2009 14:30:00 EST. Please see our terms for use of feeds.

The clean technology private equity momentum continues. In New York, a group of partners has launched NewWorld Capital Group, a private equity firm that will focus on mid-market investments in clean energy infrastructure companies in the United States and selectively in Europe.

The new fund will work closely with Ambienta, a European environmental assets private equity firm in Italy. Both said they plan to collaborate on finding and analyzing investment opportunities -- with NewWorld taking care of the United States and Ambienta addressing Europe.

Continue reading New cleantech private equity fund launches

New cleantech private equity fund launches originally appeared on BloggingStocks on Tue, 27 Oct 2009 12:20:00 EST. Please see our terms for use of feeds.

What has Blackstone (NYSE: BX) been doing with all those theme parks it's been buying? Well, the answer is becoming a bit clearer now. The private equity firm is getting ready to take theme park operator Merlin Entertainments public early next year.

Several investment banks have already been called to advise on the transaction, including Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), Deutsche Bank (NYSE: DB), UBS (NYSE: UBS), and Nomura (NYSE: NMR). If all goes as planned, the deal could be good for $3.33 billion.

Continue reading Will Blackstone make magic with Merlin?

Will Blackstone make magic with Merlin? originally appeared on BloggingStocks on Sun, 25 Oct 2009 14:40:00 EST. Please see our terms for use of feeds.

There are chills spreading across the executive suites in Corporate America. As seen with the latest from the U.S. pay czar, there will be 50% pay cuts -- on average -- for 175 executives of firms that received federal money.

Might this spread like a virus?

It's too soon to tell. However, there has been a refuge; that is, private equity. Right?

Continue reading TPG coughs up $20 million in fees. Huh?

TPG coughs up $20 million in fees. Huh? originally appeared on BloggingStocks on Thu, 22 Oct 2009 12:30:00 EST. Please see our terms for use of feeds.

Activity continues to buzz in the private equity world. For example, according to the Wall Street Journal (subscription required), it appears that IMS (NYSE: RX) is in advanced talks to take the company private. As a result, the shares of the company soared 22% in Monday's trading.

No doubt, a deal could fall apart. But, the fact remains that IMS has definitely attracted interest. Some of the suitors include: TPG, Silver Lake, and BC Partners. The deal could be worth as much as $3.5 billion.

IMS got its start in the mid 1950s when the founders -- Bill Frohlich (an advertising executive) and David Dubow -- saw an opportunity to build a unique information company for the pharma industry. The timing was perfect as the company quickly grew.

Continue reading IMS is buyout bait?

IMS is buyout bait? originally appeared on BloggingStocks on Tue, 20 Oct 2009 14:40:00 EST. Please see our terms for use of feeds.

In the U.S., the prevailing sentiment is that the consumer is tapped out. And, even for those that have money, there will continue to be a good deal of frugality.

So, it would seem that theme parks would suffer, right?

Perhaps not. This is the thinking of Stephen Schwarzman, who is the chief of the Blackstone Group (NYSE: BX). Interestingly enough, he's doubling down on theme park investments, according to Reuters.com.

Continue reading Blackstone: Piles to be made from theme parks?

Blackstone: Piles to be made from theme parks? originally appeared on BloggingStocks on Mon, 19 Oct 2009 12:30:00 EST. Please see our terms for use of feeds.

The amount of investable assets available to venture capital funds has basically been a growth story since 2003. Dry powder slipped 7% in 2004 and 10% in 2008, but increased in every other year over this period.

Now, the dry powder number sits at $155 billion, according to alternative investment research firm Preqin, just off its December 2007 peak of $160 billion. The big number, however, masks a wide range of market situations for venture capital funds. Dry powder levels vary by strategy and region. To get a sense of what's going on behind the scenes, check out the five facts below about venture capital dry powder.

Continue reading Five views of venture capital dry powder

Five views of venture capital dry powder originally appeared on BloggingStocks on Sun, 18 Oct 2009 13:40:00 EST. Please see our terms for use of feeds.

Family offices are quite active in the hedge fund space, according to Preqin, with the average family office in North America allocating 14% of its assets to this class.

Continue reading Six facts about hedge funds and family offices in North America

Six facts about hedge funds and family offices in North America originally appeared on BloggingStocks on Fri, 16 Oct 2009 13:40:00 EST. Please see our terms for use of feeds.

It's not exactly a shock, but tangible confirmation is always nice. Alternative investment research firm Preqin found in a recent survey that institutional investors are happier with their hedge fund returns now than they were a year ago. But, the gaps between happy and sad aren't as wide as you might expect.

A September 2009 survey of institutional investors revealed that 62% say "hedge fund returns have met expectations," compared to 53% in October 2008, when the market was consumed by all kinds of calamity. Only 11% responded this year that "hedge funds have exceeded expectations," which is up slightly from last year's 9%. Remember, though the market hit its worst late last year, the problem was building momentum for a while. Participants who do not feel that hedge funds have hit the mark shrank from 38% last year to 27% this year. And 66% are confident or very confident that their hedge fund investments will reach their objectives.

Continue reading Hedge fund investors happier now than a year ago

Hedge fund investors happier now than a year ago originally appeared on BloggingStocks on Fri, 16 Oct 2009 12:40:00 EST. Please see our terms for use of feeds.

When you smell an IPO coming, look for Kleiner Perkins Caufield and Byers. The Sand Hill Road institution has a knack for sniffing out high-potential deals and putting its venture capital coffers to work. Mobile phone music discovery service Shazam could have a liquidity event coming, according to the Financial Times, which caught Kleiner Perkins' attention. So, the VC company has decided to take a stake in Shazam.

Continue reading Kleiner Perkins takes a piece of Shazam, fingers crossed for an IPO

Kleiner Perkins takes a piece of Shazam, fingers crossed for an IPO originally appeared on BloggingStocks on Fri, 16 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.