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風(fēng)投與私募股權(quán)

風(fēng)投與私募股權(quán)

Dan Primack 2011-12-14
過去一年是私人資本市場(chǎng)豐收的一年,,因?yàn)轱L(fēng)投和金融收購公司紛紛將他們長(zhǎng)期持有的資產(chǎn)出售或上市。今年,,除了醫(yī)院管理公司HCA、商務(wù)社交網(wǎng)站LinkedIn和團(tuán)購網(wǎng)站Groupon的大規(guī)模IPO外,,還有其他令人咂舌的大規(guī)模交易,,如微軟(Microsoft)收購Skype。百仕通集團(tuán)(Blackstone)今年也收獲頗豐,。今年也是分化明顯的一年,,其中,高層企業(yè)很容易便能募集到新資本,,而其他公司則在苦苦尋找實(shí)現(xiàn)“本壘打”的機(jī)會(huì),。以下為部分私人資本公司的成功與失敗案例?!?普利馬克

輸家

????史蒂文?米切爾

????執(zhí)行董事,,Argonaut私人股權(quán)投資公司

????太陽能電池制造商Solyndar的失敗將使私人投資者蒙受10億美元的損失,這也成為令?yuàn)W巴馬總統(tǒng)頭痛不已的沉重負(fù)擔(dān),。其中損失最為慘重的是Argonaut私人股權(quán)投資公司,,該公司投資超過2.7億美元購買股權(quán)。這項(xiàng)交易的負(fù)責(zé)人便是米切爾,,同時(shí)他也是Solyndra公司的董事會(huì)成員,。

????琳恩?蒂爾頓

????CEO,Patriarch Partners投資公司

????2011年,,琳恩計(jì)劃出演一部表現(xiàn)她如何扭轉(zhuǎn)公司頹勢(shì)的真人秀,,而她的“佳人落難記”也由此拉開了序幕。她今年的經(jīng)歷就像是《澤西海岸》(Jersey Shore)的翻版,。隨著一家主要投資組合公司的破產(chǎn),,她的公司也因?yàn)椤罢T因欺詐”而被判決有罪。不出所料,,目前她的真人秀節(jié)目也被擱淺,。

????道格拉斯?羅恩斯坦

????前任CEO,私募股權(quán)成長(zhǎng)資本委員會(huì)

????羅恩斯坦是私募股權(quán)行業(yè)首個(gè)行業(yè)性組織的第一任CEO,,成員包括多家行業(yè)巨頭,。但這位資深說客卻并不是一位高效的經(jīng)理人,而且他的影響力也不足以敲定《多德弗蘭克法案》,。最終,,他在8月份遭到解雇。

LOSERS

????Steven Mitchell

????Managing director, Argonaut Private Equity

????Private investors will lose some $1 billion on Solyndra, the failed solar-cell maker that has become an albatross around President Obama's neck, but no firm will lose more than Argonaut Private Equity, which invested more than $270 million in equity. Mitchell led this deal for Argonaut and sat on Solyndra's board.

????Lynn Tilton

????CEO, Patriarch Partners

????The "distressed diva" began 2011 with plans to star in a reality series that would show her turning companies around. Her year ended like a Jersey Shore rerun. A major portfolio company went bankrupt, and her firm was found guilty of "fraudulent inducement." Predictably enough, the TV show is now on hold.

????Douglas Lowenstein

????Ex-CEO, Private Equity Growth Capital Council

????Lowenstein was the debut CEO of private equity's first real trade association, with major industry names as members. But the veteran lobbyist wasn't a terribly effective manager, nor was he influential enough to shape Dodd-Frank legislation. He got the boot in August.

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