Word: buyouts
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JULIE RICHARDSON Buyout Banker...
...years) are generally welcome. Flag Ventures flagventure.com) which runs funds of venture-capital funds, will probably raise new money as well. Flag's minimum investments run $1 million to $3 million. But other funds of funds let you in for as little as $250,000. On the buyout side, the inflow of money has been fairly steady, with highly regarded institutional managers Apollo Advisers and Blackstone Group having raised money. Wealthy individuals can get access to buyout portfolios directly or through funds of funds as well, with similar minimums...
...special treatment? Critics of the Administration point to the Bush family's chumminess with the House of Saud and the array of lucrative business deals the Saudis have struck with the Republican power elite. (George Bush Sr. serves as an adviser to the Carlyle Group, a Washington buyout firm with ties to the Saudi government.) But at least some of the reasons for the Administration's softness on the Saudis are strategic. The U.S. hopes to use Saudi bases in the event of a war against Iraq and may need the Saudis to boost oil production should a war rattle...
...airline once valued at $7 billion--all for an investment of $200 million. And that's not its only deal in the works. While public attention naturally attached to the US Airways transaction, Texas Pacific was quietly closing a deal 10 times larger: a $2.26 billion cash buyout of Burger King from Diageo, based in London. Bonderman and his partners are also finalizing the purchase of bankrupt Swissair's catering subsidiary, Gate Gourmet, No. 2 in the world with $2 billion in annual sales...
...these guys? Outside the world of leveraged-buyout firms, few know the partners of Texas Pacific--and they like it that way. Even their website is blank. Yet their $10 billion portfolio has included such names as Bally shoes, Beringer wines, Del Monte foods, Ducati motorcycles, J. Crew clothes and Petco stores--as well as Continental Airlines and America West, on whose boards some partners still hold seats...