private equity

A new investment club completed its first investment deal, and officials promised to keep working on more. A member of Garden Club Angels provided an undisclosed investment in a House of Speed franchise owned by Steve Halloran, 38, of Poland. Halloran used the money to buy equipment and a trailer so he could take his sports performance- training business to the community.  

It is unclear how many suitors are still in the running, but Time Warner Inc., Lions Gate Entertainment Corp. and billionaire Len Blavatnik's Access Industries are expected to make bids. None are expected to be more than $2 billion. That would be bitter for about 140 lenders that financed the purchase of MGM for $5 billion in 2005 and now essentially control the company.

We're not giant fans of betting the ranch on anything   -Michael Burns

 

Telx is a provider of network neutral, global interconnection and colocation solutions in the United States. The company had 763 customers and 28,272 total physical interconnections within its 15 facilities as of December 31, 2009. Telx said it intends to use this offering net proceeds for capital expenditures, working capital and general corporate purposes.  

Cravath, Swaine & Moore joins the exclusive ranks of New York firms that achieved a significant jump in both revenue and profits per equity partner (PPP) last year. The firm's revenue rose 7 percent to $569 million; PPP increased 8 percent to $2.7 million, according to our reporting. We recently reported similar results for Davis Polk & Wardwell , contrasting the firm to most of its Manhattan-based competitors whose revenue in 2009 was flat or declined.  

Extended Stay's Board Determines Proposal from Starwood Capital, TPG Capital and Five Mile Capital Partners is Superior to Previous Offer from Centerbridge Partners and Paulson & Co. GREENWICH, Conn., March 18, 2010-- Starwood Capital Group, TPG Capital and Five Mile Capital Partners announced today that they have reached an agreement to invest up to $905 million in Extended Stay Hotels, Inc. as part of a recapitalization plan that would allow the hotel chain to emerge from bankruptcy. The proposal, whic

We are excited about the prospects of acquiring Extended Stay   -Barry Sternlicht

 

IronPlanet Inc., an online seller of used heavy equipment, on Thursday filed for a $92 million initial public offering, according to documents filed with the U.S. Securities and Exchange Commission. The Pleasanton-based company is backed by Silicon Valley venture firms Accel Partners of Palo Alto and Kleiner Perkins Caufield and Byers in Menlo Park, as well as Caterpillar Inc., Komatsu Ltd. and Volvo. According to the Kleiner Perkins description of IronPlanet, the company sells hundreds of millions of  

Imagine a world where bankers are paid according to their actual efforts. A judge in Australia has brought that fantasy a little closer, by denying JPMorgan 31 million Australian dollars ($28.6 million) of fees it claimed for defending a company from a takeover that turned into a bidding war. But the implied logic — that advisers should get paid for what they did, not for what eventually happened — is fuzzy.  

Goldman Sachs officials say their commitment to downtown Salt Lake City was based on two things: the desire to replicate the quality of their offices around the globe and the vision for the area's future. Executives from the giant financial company, along with local and state officials, confirmed months of rumors Thursday by announcing that Goldman Sachs offices and more than 1,000 employees will be moving to Main Street in 2011. They will leave current offices in Research Park at the University of Utah

For many small business, restaurants, art groups and shops, this move brings a 1,000 well-paid professionals to the heart of our downtown   -Ralph Becker

 

We always knew that Sequoia Capital and other shareholders of YouTube made out like bandits when Google bought the video site for $1.65 billion in stock in November 2006. But we had always estimated their profits from the deal - until today, thanks to a newly unsealed court document in Viacom's longstanding copyright infringement suit against Google and YouTube. According to this filing from Viacom's lawsuit, which alleges that YouTube had knowledge of copyright infringement, Sequoia Capital received $5