| peHUB Wire -- Thursday, November 4 |
Yee-Haw: Internship Rodeo Time
It’s that time of year, when MBA candidates’ thoughts turn to flights of summer internships. So let’s help them out, through our 7th Annual Internship Rodeo.
Today I am asking firms to contact me via email if you’re looking for a summer intern from the current crop of first-year MBA candidates. All types of firms need apply — VC, LBO, Growth Equity, I-banks, Mezzanine, Consulting, Funds-of-Funds, LPs, etc. Same diversity goes for geography.
In your emails, please include your firm name, job location and type of business (i.e., VC/LBO/etc.). You also may include any additional information you would like posted, including a contact email address for applicants. If you would prefer me to create an email account for you, just let me know.
Your firm name will be disclosed, unless you specifically request it to be kept anonymous (which about 30% of firms requested last year). Once compiled, the listings will be posted in the peHUB MBA Forum, an online message-board for MBA candidates. It currently has over 2,000 members, and that’s sure to grow once word of the Rodeo gets around.
So please get me your information as soon as possible. We have placed over 450 summer interns via this program, and many have gone on to fulltime employment at their internship site following graduation. So, again, please get those emails of interest to me so that we can post the internship listings ASAP.
There is no charge for this service.
*** If you are a current MBA candidate, PLEASE DO NOT email me your CV or other info about how wonderful and deserving you are. Once we actually launch the Rodeo next week, I'll be sure to let you know what to do.
New at peHUB
* First Read, including a Corzine's future, CNBC's biggest bloopers, a bumper crop of corporate tax credits, ARVCO made more money than we thought and your chance to buy the Pontiac Silverdome.
* Second Opinion, including buyout investors shun new funds for secondaries, China PE surges, how much the bailouts cost you and protecting the public from a pretzel monopoly.
* Alleged inside trader Chen Tang was still employed at a VC firm as of early yesterday afternoon. By day's end, however, he was not.
* Which most-hated CEOs are PE-backed?
* Those meddlin' kids were to blame for KKR's bad deal
* 5 Questions for Will Honeybourne, managing director of First Reserve Corp.
* VC Shakeout: Frazier Technology Ventures says goodbye
* If you want to invest in venture, where exactly should you put your money?
* Tech Coast Angels creates endowment to honor Luis Villalobos
* Moody's: Jumbo LBO deals have faired poorly
* Mid-Week M&A Madness: What's new on the block?
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TPG Capital and the Canada Pension Plan have agreed to buy IMS Health (NYSE: RX), a provider of data on prescription drug sales, for $22 per share (50% premium to last Friday's closing price). The total deal would be valued at around $5.2 billion, including the assumption of debt. Goldman Sachs is providing the leveraged finance. Read more...
Funambol Inc., a Redwood City, Calif.-based developer of open-source mobile application servers, has acquired Zapatec Inc., aprovider of AJAX web 2.0 frameworks. No financial terms were disclosed. Funambol has raised around $23 million in VC funding, from firms like Nexit Ventures, Castile Ventures, Walden International and HIG Ventures. Read more…
Ancestry.com, a Provo, Utah-based online resource for family history, raised $100 million in its IPO. The company priced 7.41 million common shares at $13.50 per share (middle of its range), which gave it an initial market cap of approximately $572 million. Shareholders include Spectrum Equity Investors (67% pre-IPO), Crosslink Capital (6.2%) and W Capital Partners (6.1%). A predecessor company had raised around $50 million in VC funding between 1998 and 1999, but none of those backers are listed as existing shareholders. Read more...
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ACG-Thomson Reuters DealMakers Survey
Share your insights about the state and future of the deal making environment by completing the Year-End 2009 ACG-Thomson Reuters DealMakers Survey.
The M&A and corporate development community has come to rely upon the results of the ACG-Thomson Reuters Dealmakers Survey. Widely quoted, the survey provides valuable data that can benefit every dealmaker.
Your input will remain confidential. The survey takes only a few minutes to complete and results will be announced in early December. Survey participants will receive a summary of the results by e-mail. Thank you for participating. | | |
Spinal Modulation Inc., a Menlo Park, Calif.-based developer of a spinal cord stimulator system to treat patients suffering from chronic pain, has raised $27.4 million in Series C funding. Johnson & Johnson Development Corp. led the round, and was joined by DFJ/InCube Ventures, Raffles Venture Partners and return backers DeNovo Ventures, ePlanet/DFJ, Kleiner Perkins Caufield & Byers and MedVenture. Read more…
Zyngenia Inc., a Rockville, Md.-based pharma startup focused on antibody development, has raised $10 million in Series A funding from New Enterprise Associates. Read more…
Everlater, a Boulder, Colo.-based online platform for sharing travel experiences, has raised an undisclosed amount of Series A funding led by Highway 12 Ventures. Read more...
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Yale School of Management
Private Equity Conference
Friday, November 6, 2009
Hyatt Regency Greenwich
Registration & Information
The Yale School of Management’s Private Equity Club is proud to host its Ninth Annual Private Equity Conference on November 6, 2009. The conference is unique among business school conferences, focusing on private equity practitioners rather than student attendees and offers a powerful platform to engage in dialogue with private equity professionals from around the globe.
Keynote speakers include John Howard, CEO of Irving Place Capital (formerly Bear Stearns Merchant Banking); David Jackson, CEO of Istithmar World Capital; and Dan O’Connell, CEO of Vestar Capital partners.
http://pe.som.yale.edu | | |
Quantum Energy Partners has formed Icon NGS LLC, a Houston-based acquisition platform focused on natural gas storage. The deal is being done in partnership with gas storage veterans LarryBickle, Andy Lang and Mark Fullerton. No financial terms were disclosed. Read more…
Siguler Guff has acquired a minority equity stake in MDM Bank, one of Russia's largest private banks, for an undisclosed amount. Brunel Capital served as broker. MDM was formed this past August via the merger of URSA Bank and MDM-Bank. Read more…
Transurban Group (AX: TCL), an Australian toll road operator, has rejected to buyout offer from the Canada Pension Plan Investment Board and the Ontario Teachers' Pension Plan Board, which together already own around 28% of the company. The company was worth around A$6 billion ahead of the rejection, but its stock rose 20% when Transurban said it may be open to a better offer. Read more…
VEM said it was satisfied with first-round bids for its sale of German generic drugmaker Ratiopharm. Both strategic and financial suitors made offers for the company, which could be worth upwards of € 3.5 billion. Read more…
Panolam Industries, a Shelton, Conn.-based decorative laminate company, has filed for Chapter 11 bankruptcy protection, as part of a previously announced debt restructuring agreement with lenders led by Apollo Capital Management and Eaton Vance Management. Genstar Capital and Sterling Group bought Panolam for $345 million in 2005. Read more…
Digby, an Austin, Texas-based provider of mobile commerce solution for retailers, has acquired Movaya Wireless, a Seattle-based developer of digital goods storefront applications for mobile devices like the iPhone and Android. No financial terms were disclosed. Digby has raised a small amount of VC funding from The BlackBerry Partners Fund (managed by JLA Ventures). Read more…
Initiate Systems Inc., a Chicago-based provider of master data management solutions for the exchange of health information, has acquired Accenx, an Irvine, Calif.-based provider of interoperability solutions for electronic healthcare records. No financial terms were disclosed. Initiate Systems has raised over $67 million in VC funding, from Apex Venture Partners, First Analysis Group, Sigma Partners, BlueCross BlueShield Venture Partners and Paladin Capital Group. It canceled a proposed IPO in 2008. Accenx raised $3 million in Series A funding led by National Healthcare Services. Read more…
McJunkin Red Man Holding Corp., a Tulsa-based industrial pipe supplier owned by GS Capital Partners, hascompleted its acquisition of Transmark Fcx Group BV, a Houston, Texas-based distributor of specialty valves and flow control equipment. No financial terms were disclosed. McJunkin canceled a proposed $750 million IPO earlier this year. www.mcjunkinredman.com
Investor AB and Priveq have agreed to sell drug company Swedish Orphan to Biovitrum for approximately $493 million. Read more…
WestView Capital Partners, a Boston-based private equity firm focused on growth equity opportunities the middle markets,has closed its second fund with $325 million in capital commitments. Probitas Partners served as placement agent. Read more…
Eric Shiozaki has joined healthcare-focused VC firm Apposite Capital as an associate director in its San Francisco office. He previously was with Burrill & Company. Read more…
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