bloomberg.com - 12/2/2008
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Dec. 1 (Bloomberg) -- A push by the richest U.S. universities to unload their stakes in private-equity funds is flooding the market, driving down prices for the world’s best- known buyout firms. Investors led by Harvard University, which manages the largest U.S. endowment at $36.9 billion, may ...
nakedcapitalism.com - 12/2/2008
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nakedcapitalism.com —
A year ago, major endowments, like Yale, Harvard,
and Princeton were seen as the ne plus ultra...
of sophisticated private investors, regularly posting 20%+ annual returns. Now they are dumping big chunks of their private equity holdings at distressed ...
(more)
Harvard, Yale, Other Big Endowments Selling Private ...
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Universities as sellers
FinanceProfessor.com —
Bloomberg.com: Exclusive: "A push by the richest U.S. universities to unload their stakes in private-equity funds is flooding the market, driving down prices for the world’s best- known buyout firms. Investors led by Harvard University, which manages the largest U.S. endowment at $36.9 billion, may increase so-called secondary sales of private-equity funds to more than $100 billion during the next year, overwhelming available pools of capital. Interests in funds managed by KKR & Co., Madison Dearborn LLC and Terra Firma Capital Partners Ltd. all are being offered at discounts of at least 50 percent, according to people familiar with the ...
Thoughts for the Day: AIG, Private Equity and Venture Capital
Information Arbitrage —
AIG: Maurice Greenberg's piece in today's Wall Street Journal nearly provoked an attack of apoplexy. I'm not sure if I've read such a slanted, self-serving editorial in a long, long time. I'm pretty shocked that the WSJ would publish such pandering drivel. Be that as it may, we all know that the Big Mo controls gobs of AIG shares both directly and through his management of CV Starr, so let's just say that we know where he is coming from. While he starts out with the bailout-inconsistency argument, he kind of had my ear. But when he went on to praise the Citigroup package while chastizing the AIG deal, I couldn't help but call ...
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