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 [转帖]WSJ: Who is Who in Private Equity |
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jeepguy
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作者：jeepguy 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Carlyle Group
Assets Under Management: $44.3 billion
Headquarters: Washington, D.C.
Founded: 1987
Chairman: Louis V. Gerstner
Carlyle is the largest private-equity firm, with many connections across business and politics, such as IBM ex-chief Louis Gerstner and former President George H.W. Bush. The firm became Wall Street's first "$10 billion man," after raising $7.85 billion for U.S. investments and $2.2 billion for European purchases last March. Carlyle has also raised about $4.8 billion to target deals in Asia. The firm is now targeting a single fund of $15 billion, but may opt for a larger size. In December, Carlyle partnered with others to pay $15 billion for Ford Motor's Hertz, which recently went public. The firm also was a key component in the acquisition of Dunkin' Brands for $2.43 billion. This year, Carlyle was part of one of the largest private-equity deals ever -- a $14.61 billion acquisition of oil-pipeline operator Kinder Morgan -- as well as one that snagged Dutch market research firm VNU for $9.84 billion. More recently, it was part of a group that bought Freescale Semiconductor for $17.6 billion.
Blackstone Group
Total Funds Raised Since Inception: $43 billion
Headquarters: New York
Founded: 1985
Chairman & CEO: Stephen Schwarzman
Blackstone Group has a history of diversity, investing in everything from hotels and travel companies to arts and crafts and toys. Recently, it led a group in the $17.6 billion leveraged buyout of Freescale Semiconductor, the largest ever in the tech sector. This summer, Blackstone and Bain Capital closed a $6 billion bid for arts-and-crafts retailer Michaels Stores. It also teamed up with Brookfield Properties to buy Trizec Properties for $4.8 billion in cash and the assumption of $4.1 billion in debt. In another big property deal, Blackstone's real-estate arm just reached a $20 billion deal to acquire Equity Office Properties Trust, the nation's largest office-building owner and manager. If completed, the deal would be the largest such transaction in history, after factoring in the company's $16 billion in debt. Late last year, Blackstone was one of five firms that bought Danish telecom company TDC for $12 billion and was part of the group that picked up VNU in May for $9.84 billion. More recently, Blackstone closed a global buyout fund with total commitments of $15.6 billion, and has since decided to increase it to $20 billion, securing the fund's place as the world's largest.
Bain Capital
Assets Under Management: $27 billion
Headquarters: Boston
Founded: 1984
Founders: Five, including now Massachusetts Gov. Mitt Romney
Bain Capital manages a diverse portfolio, ranging from Domino's Pizza to Staples. The firm can now add to its roster arts-and-crafts retailer Michaels Stores, which accepted a $6 billion bid from Bain and Blackstone. Two companies owned by Bain have gone public in recent months: fast-food chain Burger King and pharmaceutical firm Warner Chilcott. Earlier this year, Bain agreed to acquire Burlington Coat Factory Warehouse for $2.06 billion. It also agreed to pay $3 billion for Texas Instruments' sensors-and-controls business. Bain raised $8 billion for its ninth fund in April, along with a $2 billion co-investment fund, more than twice the size of its 2004 fund. It is part of an investor group buying hospital operator HCA for $21 billion, one of the largest buyouts ever, and more recently, struck another big deal with Thomas H. Lee to buy Clear Channel Communications for $18.7 billion, plus $8 billion in debt. Bain was also part of a group -- including the founders of Outback Steakhouse -- that just bought parent company OSI Restaurant Partners for about $3 billion. In 2005, Bain joined others to buy SunGard Data Systems for $10.8 billion and was involved in the purchases of Toys "R" Us and Dunkin' Brands.
Kohlberg, Kravis, Roberts & Co.
Assets Under Management: $27 billion
Headquarters: New York
Founded: 1976
Founding Partner: Henry R. Kravis
Kohlberg Kravis Roberts is known as one of the most aggressive buyout firms and is remembered for the record-setting $25 billion leveraged buyout of RJR Nabisco in 1989. It neared that record recently with a $21.3 billion deal for HCA -- including the $11.7 billion in debt, it's actually larger. KKR even looked into a whopping $50-billion deal for Vivendi in the fall, but determined it was too risky. The firm just teamed with Goldman Sachs to pay $4.6 billion for Kion Group, the forklift unit of Germany's Linde Group. KKR also was part of the group that bought Danish telecom group TDC, as well as one that snapped up SunGard last year. KKR was in on the $6.6 billion deal to buy Toys "R" Us last March and this year it led a group that bought a 78% stake in GMAC's real-estate unit. It was also one of the first private-equity firms to experiment with going public, raising $5 billion in May selling shares in one of its funds. KKR was part of a group that acquired VNU in May, and recently a team paying $4.35 billion for an 80% stake in Philips's chip unit. The firm was named, along with others, by the Department of Justice in an inquiry into potentially anticompetitive behavior.
Thomas H. Lee Partners
Assets Under Management: $20 billion
Headquarters: Boston
Founded: 1974
Co-Presidents: Anthony J. DiNovi, Scott A. Schoen, Scott M. Sperling
Thomas H. Lee has closed on more than $6 billion in its sixth fund, and is nearing its $8-billion target. The firm recently completed the acquisitions of VNU, which it led with KKR, and Univision, which it led with Texas Pacific Group. More recently, Thomas H. Lee joined Bain to buy Clear Channel for $18.7 billion, plus $8 billion in debt. It is also part of a group acquiring food-service provider Aramark for $8.3 billion, including $2 billion in debt. In May, Thomas H. Lee agreed to buy 80% of Hawkeye Holdings in a deal that valued the ethanol maker at about $1 billion. Soon after, Hawkeye filed to go public, but has since postponed its plans. Other recent deals the firm was involved with include Dunkin' Donuts and Warner Music. Thomas H. Lee is perhaps best remembered for its successful investment in Snapple more than a decade ago. But Thomas H. Lee had the misfortune of investing $453 million in Refco before its collapse. The firm is slated to receive at least $84 million from Bawag as part of a settlement the Austrian bank reached with the U.S. in connection with Refco's demise. Meanwhile, the firm's founder and namesake left this year and recently launched Lee Equity Partners.
Texas Pacific Group
Assets Under Management: $20 billion
Headquarters: Fort Worth, Texas
Founded: 1993
Managing Partners: David Bonderman, Jim Coulter, William Price
Texas Pacific Group thrives on leveraged buyouts, targeting poorly performing companies to revamp and sell to the public for handsome profit. In the 1990s TPG turned around Continental Airlines and America West, which later merged with US Airways. TPG bought Burger King for $1.4 billion in late 2002, and it went public earlier this year after a long overhaul. Another company majority-held by TPG, J. Crew Group, also went public in 2006. Neiman Marcus also drew TPG's interest and in May of last year the firm partnered with Warburg Pincus to buy it for $5.1 billion. TPG has a new $15.2 billion global buyout fund and was part of a group that paid $12.3 billion for Univision in June. It also joined Leonard Green & Partners to buy Petco for about $1.8 billion, and paid $1.7 billion for aluminum sheet maker Aleris. More recently, it was part of a group that bought Freescale for $17.6 billion. TPG is currently teaming with Apollo on a more-than $16.7 billion offer for Harrah's.
Madison Dearborn Partners
Assets Under Management: $14 billion
Headquarters: Chicago
Founded: 1992
Chairman and CEO: John A. Canning
Madison Dearborn specializes in management buyouts and has focused four funds on the communications, consumer, financial-services and health-care sectors. It recently finished raising $6.5 billion for its fifth and biggest fund. In 2004, MDP paid $3.7 billion for Boise Cascade. MDP slashed the paper-products company's debt $1.57 billion from $3.2 billion in about six months, but MDP scrapped plans for an IPO of Boise. MDP was also part of the consortium that bought satellite company Intelsat for $3 billion in late 2004. Last October, Reliant Energy agreed to sell its three New York City power plants to a group led by MDP and U.S. Power Generating for $975 million. In June, Madison Dearborn was part of the group that nabbed Univision for $12.3 billion, and it recently snapped up Yankee Candle for $1.4 billion, plus the assumption of $300 million of debt. The firm is also part of a group, along with Carlyle and Thomas H. Lee, that R.R. Donnelley is considering an offer from, and is part of a group that has been circling Tribune for months.
Apollo Advisors
Equity Investments Managed Since Inception: $13 billion
Headquarters: Purchase, N.Y.
Founded: 1990
Chairman: Leon D. Black
Apollo Advisors, also known as Apollo Management, was the eventual victor in a competition with Bain to buy out Cendant's marketing-services division, which cost $1.83 billion in July 2005. Like KKR, Apollo has a publicly traded arm, Apollo Investment Corp., and it is launching another, AP Alternative Assets LP fund. But the fund came up short of its $2.5 billion goal. In November, Apollo agreed to buy Linens 'n Things for $1.3 billion. More recent deals include buying Jacuzzi Brands for $1.25 billion, including debt, and the $975 million purchase of Covalence Specialty Materials, formerly part of of Tyco International. It also purchased Berry Plastics in a $2.5 billion deal along with Graham Partners. In June, Apollo Real Estate Advisors and National Realty & Development Corp. bought the Lord & Taylor chain for nearly $1.2 billion from Federated Department Stores. This fall, Apollo agreed to buy General Electric's silicone and quartz business for $3.4 billion. The firm is teaming with Texas Pacific on a more-than $16.7 billion offer for Harrah's Entertainment.
Warburg Pincus
Assets Under Management: $10 billion
Headquarters: New York
Founded: 1966, merger of E.M. Warburg & Co. and Lionel I. Pincus & Co.
Co-Presidents: Charles Kaye and Joseph Landy
Warburg Pincus has headed more than 100 IPOs since its inception in 1966. Recently, the firm teamed with Thomas H. Lee Partners and other investors, including Aramark CEO Joseph Neubauer, to take the company private in a transaction valued at $8.3 billion, including debt. This fall, Warburg agreed to pay $75 million for about 30% of Nyfix, an unprofitable equity-trading technology company implicated in the options backdating scandal. Warburg and Cinven Group won the bidding for Casema NV, paying an estimated $2.66 billion for the Dutch cable-TV chain, and shortly after, the two firms paid a reported $3.3 billion for Essent Kabelcom, another cable operator in the Netherlands. In May of last year, the firm partnered with Texas Pacific to buy Neiman Marcus for $5.1 billion. But in South Korea, Warburg has come under fire amid a backlash against foreign private-equity firms.
Silver Lake Partners
Assets Under Management: $5.9 billion
Headquarters: Menlo Park, Calif., and New York
Founded: 1999
Co-Presidents: Jim Davidson, Glenn Hutchins and David Roux
Silver Lake, a relatively new kid on the block, has made its mark in technology. Investments have included data-research firm Gartner, Seagate Technology and Flextronics. Silver Lake recently joined KKR and AlpInvest Partners in a $4.35 billion deal for an 80% stake in Philips Electronics's chip unit. In November, Silver Lake agreed to buy Serena Software for about $1.2 billion, the latest in a series of software buyouts. It had a lead role in the $10.8 billion purchase of SunGard last March and in the August purchase of Agilent's chip-products group for $2.66 billion. Last April, Nasdaq announced plans to buy Instinet and sell its institutional-brokerage unit to Silver Lake for $208 million. The firm and Instinet management recently sold the electronic broker to Japan's Nomura Holdings for $1.2 billion. Thomson SA recently announced it's in talks with Silver Lake, which owns 7.5% of the French media firm, about a possible leveraged buyout. The firm has been named by the Department of Justice, along with others, in an inquiry into potentially anticompetitive behavior.
Tracinda
Assets Under Management: Firm doesn't disclose totals
Headquarters: Beverly Hills, Calif.
Founded: 1976
Co-chairman, president and CEO: Kirk Kerkorian
Colorful leader Kirk Kerkorian, who named Tracinda after his daughters Tracy and Linda, is closely tied to General Motors. Last year, Tracinda nearly doubled its ownership of GM, and earlier this year it increased its stake to total 9.9% of shares outstanding. Mr. Kerkorian considered upping his stake to 12% as he pressed the auto maker to join an alliance between Nissan and Renault. While GM management explored the option, it utlimately decided against it. As a result, ally Jerome York abruptly resigned as a director at the company, and Tracinda has since cut its stake in GM to 7.4%. Mr. Kerkorian has rankled auto makers before, spending years fighting the Chrysler/Daimler-Benz merger. Elsewhere, Mr. Kerkorian's interests have included movie maker MGM, which he has owned all or part of three times. Although he has let go of MGM -- a Sony-led consortium acquired the studio in 2005 -- Mr. Kerkorian is expanding his casino empire. Tracinda is the majority owner of MGM Mirage, and plans to buy another 15 million shares to boost its stake to more than 60%.
作者：jeepguy 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [转帖]WSJ: Who is Who in Private Equity -- jeepguy - (14035 Byte) 2006-12-18 周一, 11:10 (8649 reads)
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