Private Equity Archive

Top Gun FP Client Note: Get Ready For A Nasty Correction

NOTE: Every week I write a Client Note for my clients.  For a limited time, I am allowing non-clients to sign up and receive the Client Note.  You can sign up at the top right ...
Posted by Greg Feirman  ·  No Comments »

The Story Of Duane Reade

February 23, 2010  ·  Category: Business Culture and Current Events, Private Equity, Stocks
Andrew Ross Sorkin has a wonderful piece on the story of Duane Read, the Manhattan based drug store chain with 257 stores in the New York Area that was acquired by Walgreen's (WGN) last Wednesday, ...
Posted by Greg Feirman  ·  No Comments »

NY Times: Investment Indigestion At Stanford

October 6, 2009  ·  Category: Private Equity
This is a big story on the front of today's New York Times Business Section by Andrew Ross Sorkin: Stanford University is holding a garage sale. Not the desks-and-chairs kind.  Instead, Stanford is selling stakes in funds ...
Posted by Greg Feirman  ·  No Comments »

Harrah’s LBO Teetering

October 27, 2008  ·  Category: Macro Economics, Market Commentary, Private Equity, Stocks
The problem is that this is worse than the worst-case scenario. - An executive closely involved with the Harrah's LBO on the worst case scenarios factored into their models at the time of the deal, quoted ...
Posted by Greg Feirman  ·  No Comments »

Clear Channel Buyout On Verge Of Collapse

March 26, 2008  ·  Category: Market Commentary, Private Equity, Stocks
The big story today is the potential collapse of the LBO of Clear Channel Communications (CCU), the nation's largest radio station owner ("Major Buyout Deal Is Close To Collapse" (subscription required), The Wall Street Journal, ...
Posted by Greg Feirman  ·  No Comments »

First Data Debt Sale Could Get Ugly

September 13, 2007  ·  Category: Market Commentary, Private Equity
Earlier this week, banks underwriting the buyout of Allison Transmission, an auto parts supplier, were able to sell $1 billion of a planned $4.2 billion in debt to investors (subscription required).  The debt was sold ...
Posted by Greg Feirman  ·  No Comments »

The Credit Crunch Is Here: I-Banks Fail To Sell Bonds and Loans To Finance Chrysler and Alliance Boots LBOs

July 26, 2007  ·  Category: Bonds, Market Commentary, Private Equity
All you really need to read to understand today's market crash is an article on the front page of The Wall Street Journal titled: "Banks Delay Sale of Chrysler Debt As Market Stalls" (subscription required).  ...
Posted by Greg Feirman  ·  No Comments »

This Time They Ring A Bell At The Top – KKR and Och-Ziff File IPOs

One has to wonder at the motives for Kohlberg Kravis Roberts (KKR) and Och-Ziff, a hedge fund, to go public after a mediocre IPO earlier this year by hedge fund Fortress Investment Group (FIG) and ...
Posted by Greg Feirman  ·  No Comments »

Blackstone Panics And Buys Hilton for $20 Billion

July 5, 2007  ·  Category: Market Commentary, Private Equity
"Don't congratulate me when I buy something.  Congratulate me when I sell it." - KKR Founder Henry Kravis, quoted by Bill Seidman, CNBC Chief Commentator, on CNBC this morning in response to a question I sent ...
Posted by Greg Feirman  ·  No Comments »

Four Must Read Front Page Wall Street Journal Articles for a Bear(Stearns) Market

June 29, 2007  ·  Category: Bonds, Hedge Funds, Market Commentary, Private Equity
Make no mistake: this week, as last week, is all about the blow up of the two Bear Stearns hedge funds heavily invested in subprime mortgage backed securities.  And The Wall Street Journal, as usual, is ...
Posted by Greg Feirman  ·  2 Comments »