Private Equity

Man Allegedly Steals Insider Info, Doesn’t Trade On It

Back to shilling zit cream.

Back to shilling zit cream.

Here’s a heartwarming, refreshing story: A former Bush administration spokesman turned TPG Capital spokesman saw some bad things going down deep in the heart of Texas. Or didn’t see anything, but was pissed because he was denied a promotion. In any event, one of the perks of being TPG spokesman is that you have a laptop and a Blackberry full of confidential information. Maybe even embarrassing information, or, better yet, material non-public information. Which means that you can either become an insider-trader, whistleblower or disgruntled employee seeking his revenge by leaking information to liberal rags.

Now, the refreshing part: The spokesman, Adam Levine, chose option B or C (depending on who you ask). Read more »

This fellow illustrious Bush administration veteran still available for all  your p.e.-firm monitoring needs.Really, Freeman Spogli & Co. wouldn’t have it any other way. It is simply the nicest way of thanking it for all of the money it’s made for you over the past three decades.

Documents obtained by The New York Times show that the independent adviser appointment was disclosed after officials at the Securities and Exchange Commission raised questions about several of the firm’s practices.

According to the letter, S.E.C. officials said that Freeman Spogli appeared to be violating fee-sharing arrangements with its investors in two funds, despite promises to the contrary. And Freeman Spogli, the S.E.C.’s letter said, appeared to be reaping fees from investment-banking-type transactions without fulfilling the regulatory requirement of being registered as a broker-dealer.

Now that all of that is out of the way, perhaps you’d like to return the favor by leaving them the hell alone about those fees? Read more »

Would not be caught dead in that warehouse of mediocrity on the UES.The Carlyle Group co-founder is a man of refinement and taste who is more or less single-handedly preserving America’s cultural heritage, such as it is. But assuming Warren Buffett’s glittering eyes were pointed in his direction when he compared Berkshire Hathaway to the Metropolitan Museum of Art and others as “porn shop owners” who will slap a pair of bigger tits on a painting before selling it to the first guy in a raincoat to come along, Rubenstein isn’t having it, and said as much yesterday. If Berkshire Hathaway’s a big fancy museum on Fifth Avenue, then private equity firms—any, apparently—are an even bigger, fancier museum! A former royal palace! In Paris! Read more »

Squatters’ Real-Estate Speculation Fighters’ Rights!

Last year, Tony James argued that private-equity firms should fight their bad reputations with a rebranding effort. But “clarity equity” just never took off, because, you know, it was really stupid.

Now, James’ firm may have another rebranding crisis on their hands after buying up 40,000 foreclosed properties in Barcelona. Because Italian ecological economics professors who aren’t paying for the six-bedroom, two-swimming pool houses to protest Spanish banks’ roles in the country’s economic crisis (also: to live in six-bedroom, two-swimming pool houses in Barcelona gratis) aren’t just going to stop doing so because Tony James says they can’t anymore because these nice people who will pay rent would like to. Read more »

For nearly 20 years, ISIS Equity Partners has chugged along without it or anyone else giving its name a second thought. It sounded great. Classical. Timeless. Redolent of god-like powers. Then, a certain terrorist organization picked a name that has, for ISIS, the unfortunate coincidence of, when translated into English and acronymized, being exactly the same.

Now, ISIS needs a new name. But, as we’ve discussed from time to time, the proliferation of alts. firms has led to a paucity of good new names. So before ISIS throws up its hands and calls itself “Not A Fucking Bloodthirsty Terrorist Operation Capital Management,” perhaps you’d like to lend them a helping hand. Read more »

Blackstone Is Taking A Break From Russia

Well, not so much a break as a permanent hiatus from repeatedly banging its head against an increasingly hard wall. Read more »

P.E. Firms Are Gonna Need A Bigger Shovel

We’re at $1.141 trillion and counting. Read more »

Italian private equity honcho Andrea Bonomi’s got a couple of weeks to decide how much crazy signing he’s willing to do to keep the Club, purged of proletarians, out of the hands of the Chinese. Read more »