Private Equity
private equity - Private equities are equity securities of unlisted companies. Private
equities are generally illiquid and thought of as a long-term investment.
They may not necessarily use their own firms’ fund, but may bring in major institutional
investors as their clients or fund sources, such as pension funds or so.
Private equity investments are not subject to the same high level of government
regulation as stock offerings to the general public. Private equity is also far less liquid
than publicly traded stock.
An executive summary of the rankings can be downloaded at
http://www.privateequityinternational.com/pei50 The PEI 50 rankings for 2007 are:
1 The Carlyle Group $32.5 billion
2 Kohlberg Kravis Roberts $31.1 billion
3 Goldman Sachs Principal Investment Area $31 billion
4 The Blackstone Group $28.36 billion
5 TPG $23.5 billion
6 Permira $21.47 billion
7 Apax Partners $18.85 billion
8 Bain Capital $17.3 billion
9 Providence Equity Partners $16.36 billion 10 CVC Capital Partners $15.65 billion 11
Cinven $15.07 billion 12 Apollo Management $13.9 billion 13 3i Group $13.37 billion
14 Warburg Pincus $13.3 billion 15 Terra Firma Capital Partners $12.9 billion 16
Hellman & Friedman $12 billion 17 CCMP Capital $11.7 billion 18 General Atlantic
$11.4 billion 19 Silver Lake Partners $11 billion 20 Teachers' Private Capital $10.78
billion 21 EQT Partners $10.28 billion 22 First Reserve Corporation $10.1 billion 23
American Capital $9.57 billion 24 Charterhouse Capital Partners $9 billion 25 Lehman
Brothers Private Equity $8.5 billion 26 Candover $8.29 billion 27 Fortress Investment
Group $8.26 billion 28 Sun Capital Partners $8 billion 29 BC Partners $7.9 billion 30
Thomas H. Lee Partners $7.5 billion 31 Leonard Green & Partners $7.15 billion 32
Madison Dearborn Partners $6.5 billion 33 Onex $6.3 billion 34 Cerberus Capital
Management $6.1 billion 35 PAI Partners $6.05 billion 36 Bridgepoint $6.05 billion 37
Doughty Hanson & Co $5.9 billion 38 AlpInvest Partners $5.4 billion 39 TA Associates
$5.2 billion 40 Berkshire Partners $4.8 billion 41 Pacific Equity Partners $4.74 billion 42
Welsh, Carson, Anderson & Stowe $4.7 billion 43 Advent International $4.6 billion 44
GTCR Golder Rauner $4.6 billion 45 Nordic Capital $4.54 billion 46 Oak Investment
Partners $4.06 billion 47 Clayton, Dubilier & Rice $4 billion 48 ABN AMRO Capital
$3.93 billion 49 Oaktree Capital Management $3.93 billion 50 Summit Partners $3.88
billion
SOURCE Private Equity International magazine
http://www.privateequityinternational.com .
Venture Capital
venture capital - Venture Capital is the money and resources made available to startup
firms and small businesses with exceptional growth potential. Most venture capital
money comes from an organized group of wealthy investors.
Mezzanine Financing
mezzanine financing - Mezzanine Financing is a late-stage venture capital, usually the
final round of financing prior to an IPO. Mezzanine Financing is for a company
expecting to go public usually within 6 to 12 months, usually so structured to be repaid
from proceeds of a public offerings, or to establish floor price for public offer.
This is different from Mezzanine Debts
mezzanine debt - Mezzanine Debts are debts that incorporates equity-based
options, such as warrants, with a lower-priority debt. Mezzanine debt is actually
closer to equity than debt, in that the debt is usually only of importance in the
event of bankruptcy. Mezzanine debt is often used to finance acquisitions and
buyouts, where it can be used to prioritize new owners ahead of existing owners
in the event that a bankruptcy occurs.