Tokyo Star Bank emerged in 2001 from the bankruptcy in 1999 of Tokyo Sowa Bank through a partial buyout and capital injection by the U.S. PE fund Lonestar.
It was just 18 months after a little-known private equity shop, 3G Capital, took Burger King private in a leveraged buyout. 3G Capital is backed by a number of Brazilian investors that include billionaire Jorge Paulo Lemann.
FORBES: All Hail The King: Burger King Quarterly Profit Jumps 60%
Four years ago the sizzling defense-electronics outfit snubbed New York buyout firm Veritas Capital.
The Motherwell-based company said it had completed a "secondary" management buyout with Arlington Capital Partners.
Critics note that Romney's tenure as CEO of the leveraged buyout firm Bain Capital resulted in the loss of thousands of jobs through layoffs and bankruptcies.
The deal had already established its roots when buyout shop Oaktree Capital Management purchased the bonds of Classic Cable, which owned small rural cable systems in places like Arkansas and was heading for bankruptcy.
Washington Mutual is selling its private equity stakes at losses of 73% amid signs that other banks may be forced to unload their buyout and venture capital holdings at big discounts to raise needed cash.
Jon L. Luther, chief executive of Dunkin' Brands, a portfolio company of buyout firms Bain Capital Partners and the Carlyle Group, is slated to present the softer side of private equity to Congress on Wednesday.
By contrast, the British Venture Capital association (BVCA), which represents both venture capital firms and buyout firms, was first founded over 25 years ago and the European Venture Capital Association (EVCA) has been operating since 1983.
Enter leveraged buyout firms, which are flush with capital and hungry for deals.
In June Durrett cooked up a sale to the Palo Alto, Calif. investment firm Symphony Technology Group in a leveraged buyout backed by Los Angeles' Tennenbaum Capital Partners.
Investor protection is a hot topic in Congress and regulatory circles, with heightened scrutiny on the activities of private pools of capital like hedge funds and buyout firms.
Banks have traditionally been the biggest players in the secondary market and often sold their stakes in buyout and venture funds as regulators made capital requirements more stringent.
But now speculation is swirling that certain investor groups are eyeing Midas (MDS) as a buyout candidate, including a private equity capital management firm, one large hedge fund, and a major company engaged in auto-related businesses.
FORBES: Midas: This Global Automotive Service Company Is Among The New Takeover Plays
This goes beyond an earlier tax attack on a public offering by the Blackstone Group, and would slam into all private partnerships, including buyout funds, hedge funds, venture-capital firms, real estate partnerships, and oil-and-gas deals.
In April, AAC Capital Partners, a Northern European mid-market buyout firm, announced that it had agreed to sell Inalfa Roof Systems Group B.
Buffett "never would have done this deal with a typical buyout shop, " said hedge-fund manager Whitney Tilson, whose Kase Capital counts Berkshire as its second-largest position.
Buyout shops generally keep 20% of the profits they make on deals and have been paying low capital gains taxes of 15% on that cut.
The New York Times had a big scoop recently on a lawsuit in Boston that accuses some of the biggest private-equity firms including Bain Capital, TPG and KKR of conspiring to keep takeover prices low during the leveraged-buyout boom from 2003 to 2007.
Stephen Feinberg's Cerberus Capital Management is walking into the union buzz saw with its Chrysler Group purchase just as the buyout business is set to become a political hot potato.
The deal is the third management buyout since it was bought from Six Continents, then known as Bass, by PPMV and Royal Bank Development Capital in 1997.
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