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风投与私募股权

风投与私募股权

Dan Primack 2011-12-14
过去一年是私人资本市场丰收的一年,因为风投和金融收购公司纷纷将他们长期持有的资产出售或上市。今年,除了医院管理公司HCA、商务社交网站LinkedIn和团购网站Groupon的大规模IPO外,还有其他令人咂舌的大规模交易,如微软(Microsoft)收购Skype。百仕通集团(Blackstone)今年也收获颇丰。今年也是分化明显的一年,其中,高层企业很容易便能募集到新资本,而其他公司则在苦苦寻找实现“本垒打”的机会。以下为部分私人资本公司的成功与失败案例。——丹•普利马克

输家

    史蒂文•米切尔

    执行董事,Argonaut私人股权投资公司

    太阳能电池制造商Solyndar的失败将使私人投资者蒙受10亿美元的损失,这也成为令奥巴马总统头痛不已的沉重负担。其中损失最为惨重的是Argonaut私人股权投资公司,该公司投资超过2.7亿美元购买股权。这项交易的负责人便是米切尔,同时他也是Solyndra公司的董事会成员。

    琳恩•蒂尔顿

    CEO,Patriarch Partners投资公司

    2011年,琳恩计划出演一部表现她如何扭转公司颓势的真人秀,而她的“佳人落难记”也由此拉开了序幕。她今年的经历就像是《泽西海岸》(Jersey Shore)的翻版。随着一家主要投资组合公司的破产,她的公司也因为“诱因欺诈”而被判决有罪。不出所料,目前她的真人秀节目也被搁浅。

    道格拉斯•罗恩斯坦

    前任CEO,私募股权成长资本委员会

    罗恩斯坦是私募股权行业首个行业性组织的第一任CEO,成员包括多家行业巨头。但这位资深说客却并不是一位高效的经理人,而且他的影响力也不足以敲定《多德弗兰克法案》。最终,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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