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☆ Buyout barons reach deep into their bags of tricks
▼ + stars: | 2023-02-15 | by ( Jonathan Guilford | ) www.reuters.com time to read: +7 min

NEW YORK, Feb 15 (Reuters Breakingviews) - Debt necessity is proving to be the mother of private equity invention. With the cheap borrowing that fueled record-breaking years of leveraged buyouts gone, firms are digging deeper into their bags of tricks. Private equity firm Silver Lake, which bought a stake alongside the IPO, said it might take control. Besides putting private equity firms into weaker negotiating positions, the competing incentives also threaten conflicts of interest with limited partners. ...THERE’S A WAYIf the U.S. Federal Reserve avoids engineering a recession, private equity should be able to revert to its tried-and-true formula soon enough.

☆ Harvey Schwartz has his work cut out for him at Carlyle. Here's why.
▼ + stars: | 2023-02-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, a Wall Street firm finally finds its CEO. Harvey Schwartz Goldman Sachs1. In many ways, Carlyle and Harvey Schwartz are perfectly imperfect for each other. Might as well call it "Carefree Carlyle," because that's the vibes I'm getting under the soon-to-be Schwartz era. Click here to read more about what'll be expected of Harvey Schwartz as CEO of Carlyle.

☆ Ojo, a home-listings site aiming to rival Zillow, sells its Canadian operations to Royal Bank of Canada and raises funds from Vista Equity Partners in combined deal of nearly $200 million
▼ + stars: | 2023-02-07 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

Home-listings company Ojo Labs sold its Canadian operations to the Royal Bank of Canada. The transactions, totaling nearly $200 million, will help Ojo navigate a bumpy housing market. "We put the company in an extremely healthy cash position, while others are having to retrench," Berkowitz told Insider. These services can differentiate Ojo from Zillow and Realtor.com, which are most intently focused on the home transaction. CoStar, the real estate data giant that's reached a dominant position in commercial real estate data, has recently trained its eye on residential listing platforms.

☆ Want to quit your job and run your side hustle full time? Start by working at one of these 5 companies
▼ + stars: | 2023-01-29 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

In the case of many a successful startup founder, that means working a day job before they're ready to strike out and start their own new business. Multiple big-name companies top the list, according to a new report from small-business lending platform OnDeck, which examined large U.S. companies with high rates of former employees launching their own businesses. The top four companies on OnDeck's list all hail from the consulting world, which isn't surprising: Consultants at those companies are often tasked with helping clients hone their management and business strategies. Goldman Sachs leads the way among financial services companies on OnDeck's rankings, with 5.92% of former employees becoming founders. By focusing primarily on large companies, OnDeck's report doesn't provide a comprehensive list.

☆ Ken Griffin has built two of Wall Street's most powerful firms. His next target could be influencing politics.
▼ + stars: | 2023-01-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Ken Griffin, the founder and CEO of Citadel. It's good to be Ken Griffin. Plenty of people find success on Wall Street that most can only dream of. But Ken Griffin seems to be winning in ways that even his peers can't fathom. Click here to read more about Ken Griffin rise to the top of Wall Street and what could be next for the billionaire.

☆ Stocks making the biggest moves midday: Tesla, Nvidia, Lululemon and more
▼ + stars: | 2023-01-09 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +4 min

Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. Tesla – Shares of Tesla rose 8% Monday after CEO Elon Musk's attorneys on Saturday asked a California court to move a trial over the company stock to Texas, citing local negativity. Uber – Uber shares gained 5.2% on an upgrade from Piper Sandler to overweight from a neutral rating. Monolithic Power Systems – Shares of Monolithic Power Systems gained 6.4% amid the semiconductor rally, following shares of Nvidia and Advanced Micro Devices. Goldman Sachs – Shares gained 2% following reports that the banking giant is laying off 3,200 employees, or 6.5% of the workforce it had in October.

☆ Duck Creek Technologies surges more than 30% after reaching takeover deal with Vista
▼ + stars: | 2023-01-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

A person walks through the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. Insurance tech company Duck Creek Technologies has reached a takeover deal with Vista Equity Partners, sending its stock soaring on Monday morning. Shares of Duck Creek surged more than 45% to hover just under the offer price in premarket trading. At its high watermark in February 2021, the Duck Creek closed above $59 per share. Duck Creek reported its fiscal first quarter results last week, showing revenue of $80.6 million and a net loss of $5.2 million.

☆ Vista to take Duck Creek Technologies private in $2.6 bln deal
▼ + stars: | 2023-01-09 | by ( Manya Saini | ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Duck Creek Technologies (DCT.O), which serves some of the biggest clients in the property and casualty sector, will be taken private by Vista Equity Partners in an all-cash deal valued at about $2.6 billion, the insurance tech firm said on Monday. The deal for Duck Creek at a purchase price of $19 per share, represents a premium of 46% to Duck Creek's last close. Duck Creek provides cloud-based property and casualty insurance solutions to its customers including Berkshire Hathaway Specialty Insurance and American International Group (AIG.N). Duck Creek expects the deal to close in the second-quarter of this year. J.P. Morgan is acting as financial advisor to Duck Creek.

☆ Here are the 34 tech companies most likely to be snapped up by private equity firms like Vista and Thoma Bravo in 2023, according to bankers and market data
▼ + stars: | 2022-12-24 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com time to read: +22 min

With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.

☆ Here are the 34 tech companies most likely to be on the holiday shopping lists of private-equity firms after valuations plunged this year, according to bankers and private data
▼ + stars: | 2022-12-15 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com time to read: +22 min

☆ America's lack of boardroom diversity isn't just a PR problem, it's a business problem that will make companies more vulnerable in a downturn
▼ + stars: | 2022-12-14 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +6 min

More than a dozen companies had no board members of color, according to the report, which relied on 2021 data. Along with a few partner organizations, Watts launched a program in August to help companies interview and select more board members from underrepresented backgrounds. Bessie Watts of Vista Equity Partners is working on a program to increase the pipeline of board members from underrepresented backgrounds. More CEOs are embracing not just the moral case for board diversity, but the business case, as well, Watts said. "We're able to meet and help support board members with valuable new insight."

☆ Thoma Bravo to buy Coupa Software for $6.15 billion amid tech slump
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: +2 min

Coupa Software said on Monday it will sell itself to private-equity major Thoma Bravo for $6.15 billion in cash, calling the deal the "optimal path forward" as broader economic uncertainty hammers technology stocks. "The transaction provides superior risk-adjusted value relative to the company's (Coupa's) standalone prospects," said Roger Siboni, an independent director at the software firm. Coupa Software, which went public in 2016, provides business-spend management software, which helps companies manage the purchase of goods and services. Qatalyst Partners and Freshfields Bruckhaus Deringer advised Coupa, while Goldman Sachs & Co, Piper Sandler, and Kirkland & Ellis were advisors to Thoma Bravo. Separately, Coupa reported a 17% rise in total revenue for the quarter ended Oct. 31 and a net loss of $84.1 million.

☆ Thoma Bravo to buy Coupa Software for $6.15 bln amid tech slump
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

Dec 12 (Reuters) - Coupa Software Inc (COUP.O) said on Monday it will sell itself to private equity major Thoma Bravo for $6.15 billion in cash, calling the deal the "optimal path forward" as broader economic uncertainty hammers technology stocks. Over the last two years, Thoma Bravo has acquired Ping Identity, Sophos, Proofpoint and Sailpoint Technologies. Coupa Software, which went public in 2016, provides business-spend management software, which helps companies manage the purchase of goods and services. Qatalyst Partners and Freshfields Bruckhaus Deringer advised Coupa, while Goldman Sachs & Co, Piper Sandler, and Kirkland & Ellis were advisors to Thoma Bravo. Separately, Coupa reported a 17% rise in total revenue for the quarter ended Oct. 31 and a net loss of $84.1 million.

☆ Billionaire Robert F. Smith's awkward James Bond-themed birthday bash featured strict security and port-a-potties — despite being held at his multimillion dollar mansion with 15 bathrooms
▼ + stars: | 2022-12-11 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

For his 60th birthday, billionaire Robert F. Smith's wife threw him a James Bond-themed party. Partygoers weren't pleased with the "massive security" and port-a-potties outside, according to the New York Post. "They frisked you when you came out of the bathroom," one guest told New York Post, suggesting it was in an effort to search for hidden cameras and other surveillance technology. Despite the home boasting 15 bathrooms, guests say they were asked to use port-a-potties placed outside during the five-hour long party. It wasn't a great party," the guest told the New York Post.

☆ HR software firm Globalization Partners, a rival to Softbank-backed Remote, cuts jobs and says impact is less than 10% of staff
▼ + stars: | 2022-12-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Boston-based Globalization Partners has laid off approximately 100 staff, Insider understands. Globalization Partners, a Boston-based HR and employment platform that rivals venture-backed upstarts like Remote, has cut jobs, with one source indicating around 100 staff have been impacted. Founded in 2012 by Nicole Sahin, Globalization Partners, or G-P, was valued at $4.2 billion after raising $200 million in funding from Vista Equity Partners in January 2022. HR companies enjoyed a pandemic boom through 2020 and 2021 as firms began experimenting with hybrid work, requiring new processes and platforms. Remote, a venture-backed rival to G-P, cut 10% of staff earlier this year, Insider reported.

☆ Crowdstrike Holdings warning sparks selloff in cybersecurity stocks
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 30 (Reuters) - A warning from Crowdstrike Holdings Inc (CRWD.O) that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks on Wednesday, inflicting fresh pain on the battered sector. "Increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates," Crowdstrike Chief Executive Officer George Kurtz said. The results are the latest in a series of dour reports from cybersecurity firms, whose business boomed during the pandemic but is now seeing a slowdown, making them a hot target for private equity buyouts. "Resilient, but not immune is a theme that will likely dominate the narrative during our October quarter-cohort earnings cycle," Piper Sandler analysts said. Still, some analysts see long-term benefits from the rising demand for cybersecurity as more businesses take to the web and high-profile hacks force companies to be more cautious.

☆ This software stock surged 37% last week, and analysts say it could rise by another 14%
▼ + stars: | 2022-11-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Global stocks inched higher over the past week, but one stock stood out. That stock is U.S.-based software firm Coupa Software , which jumped nearly 37% over the week. Coupa was among only six global stocks under the MSCI World index to rise more than 10% over the week. Retailer Burlington Stores surged around 24% after last week's release of its third-quarter earnings. Its performance comes off per-share earnings and revenue beats reported in third-quarter earnings Tuesday.

☆ What the Club is watching Friday — China locks down (again), Black Friday sales
▼ + stars: | 2022-11-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Stocks making the biggest moves midday: Apple, Manchester United, Activision Blizzard and more
▼ + stars: | 2022-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Apple — Apple's stock shed 2% on Friday after protests occurred at the iPhone maker's major Foxconn supplier in China earlier this week. Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Trade Commission is likely to sue to block Microsoft's $69 billion acquisition of Activision Blizzard. Manchester United — Manchester United's stock surged 12.8%, building on this week's earlier gains following news that the soccer team's owners are weighing a potential sale. Canoo – The electric vehicle company's stock price traded 4.6% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila purchased shares.

☆ Stocks making the biggest moves premarket: Activision Blizzard, Tesla, Manchester United and others
▼ + stars: | 2022-11-25 | by ( Peter Schacknow | ) www.cnbc.com time to read: +1 min

Tesla (TSLA) – Tesla said its Full Self Driving Beta software is now available to everyone in North America. Tesla rose 2% in premarket trading. Manchester United Shares jumped 14.7% Tuesday and rocketed 25.8% on Wednesday. Nonetheless, the stock rose 1% in the premarket. Deutsche Bank (DB) – The German bank's U.S.-traded shares added 2.4% in the premarket, following a report by RBC Capital that said Deutsche Bank's restructuring progress has been overlooked by investors.

☆ Vista exploring deal to buy Coupa Software - Bloomberg News
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

Nov 23 (Reuters) - Private equity firm Vista Equity Partners is exploring an acquisition of Coupa Software Inc (COUP.O), Bloomberg News reported on Wednesday, citing people familiar with the matter. Shares of the software firm, which had a market capitalization of nearly $3.5 billion as of Tuesday close, surged 27% to $58.15 following the report. Vista declined to comment, while Coupa did not immediately respond to a Reuters request for comment. Vista has held talks with Coupa, which is working with an adviser, according to the report, adding that private-credit lenders could provide financing for a potential deal. Reporting by Tiyashi Datta in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Banks struggled to find demand from junk-bond investors for $2.4 billion of secured bonds and loans that is part of the debt package after a weeks-long marketing effort, the sources said. It showed the challenges banks face to sell down highly leveraged debt this quarter as bond yields spiked in response to a hawkish Fed policy and recessionary fears. The source would not say whether that would mean re-offering the debt to investors at even juicier terms. The end result is the banks involved are digging into their own pockets to provide the whole debt for the Tenneco acquisition which closed on Thursday. So it's almost like investors have seen this cycle occur that makes them question the outlook of something like Tenneco," he added.

☆ Op-ed: Opportunities await investors in the tech sector. Here is a corner that’s ripe for growth
▼ + stars: | 2022-11-15 | by ( Robert F. Smith | ) www.cnbc.com time to read: +4 min

However, on close examination, investing specifically in enterprise software will continue to be one of the best uses of capital anywhere in the financial and technology markets. As we have seen, enterprise software is a disruptive force with the potential to unlock unprecedented productivity and innovation. The pandemic accelerated reliance on enterprise software, as companies turned to technology to connect employees and customers, conduct meetings and facilitate payments. Conversely, as more businesses face commodity and wage inflation, they recognize the value that enterprise software can deliver to help manage the cost of day-to-day workflows while increasing efficiency. Selecting the right investmentsThat said, even in the private markets, generating favorable outcomes in turbulent times requires investors to execute against two factors.

Weber , which went public in August 2021 and is trading at half its offering price, is the latest example of a recent IPO to attract a bid to go private. Recent IPOs ducking for the door First, to understand why we selected these criteria, let's look at the recent deals. Kennedy Lewis' $4 per share cash offer was an 83% premium to F45's closing price ahead of the deal announcement, even though it was far below the stock's $16 IPO price. Even with the lift from the deal news, shares are only trading at less than half its $14 IPO price. Private equity company AEA Investors had a 28.4% stake in the company, and CEO Jeremy Andrus owns an 11% stake, according to FactSet.

☆ Vista's Robert Smith says investing in DEI businesses vitally important in a bear market
▼ + stars: | 2022-10-20 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Robert F. Smith, chairman and CEO at Vista Equity Partners, said investing in businesses and managers that emphasize diversity, equity and inclusion remains vital, especially in a bear market. The billionaire investor, who spoke with CNBC's Frank Holland at the Disruptor 50 Summit, said that venture capital and private equity funding should continue to expand to minority-owned businesses. The recent drop in venture capital funding, due to growing recession fears, has disproportionately hit African American, Latinx business owners and founders, he said. They're seeing some outsized reductions in their funding," Smith said. Some venture capital firms that he said are effectively identifying opportunities include the New Voices Fund.

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