Bankers Upbeat On Private Equity For 2012

Middle market investment bankers looking ahead to 2012 said the storm clouds that have darkened the landscape for mergers and acquisitions are finally lifting. Thanks in part to new capital gains taxes and the sunset of the tax cuts enacted by former President George W. Bush in 2001 as well as the need among private equity investors to begin investing again after sitting out on deals in the wake of the global financial crisis, dealflow is on the rise for investment bankers servicing the middle market.

The Morning Leverage: El Paso’s Sell-Off Could Be Private Equity’s Add-On

Mike Lucas for Dow Jones

In this morning’s media roundup, firms including TPG Capital and Apollo Global Management may use their portfolio companies as bidding vehicles should El Paso Corp. sell off its exploration and production assets. Meanwhile, Greenbriar Equity Group acquires PetroChoice Holdings from KRG Capital Partners.

Survey Says: Asian LPs Still See U.S. And Europe As Best Bets In 2012

While emerging markets like Indonesia and Vietnam are attracting increased attention, the lack of visibility and dearth of established fund managers may inhibit the flow of capital to those regions from Asian limited partners, according to a recent study from the Emerging Markets Private Equity Association.

The Morning Leverage: This Ain’t Your Father’s Metal Deal

Mike Lucas for Dow Jones

In this morning’s media roundup, there is now only one degree of separation between Wicks Group and Pantera, and even less separating Pamplona Capital Management from the PE opportunities in the U.S. Meanwhile, Victoria Capital Partners is close to wrapping up its first fund since spinning out of Credit Suisse, BankUnited looks for a buyer, and tales of one PE-backed company during the Arab Spring.

SFO Goes After Paid Dividends

The amount of money involved – £131,201 – is moderate but this first clawback of paid-out dividends shows a new aggressiveness by the SFO, which is now armed with the extra powers of the U.K. Bribery Act.

The World Is A Vampire Movie: Lionsgate Grabs Summit

We haven’t steered our entertainment dollars toward the brooding, mountain-lion-eating vampires of  the “Twilight” epics, but we’d certainly be more interested in seeing one if it featured a crossover from the no-nonsense Madea. 

As expected, Rizvi Traverse Management-backed Summit Entertainment has been sold to Lionsgate. (Fun fact: Lionsgate says its library has 13,000 titles – this means that at least 12,900 of them are not “Saw” or Tyler Perry movies.)

The Morning Leverage: Oil And Gas Deals Aplenty

Mike Lucas for Dow Jones

In this morning’s roundup of private equity news, Petro Harvester Oil and Gas LLC, backed by TPG Capital, struck a deal for certain oil properties located in central and southern Mississippi and in southern Louisiana from Denbury Resources Inc. Also, Select Energy Services LLC completed its 15th add-on acquisition since Crestview Partners invested $125 million for a roughly 45% stake in the company in 2010. And Palladium Equity Partners further invested in Sahale Snacks Inc., a maker of natural snacks such as nuts and dried fruits.

Just Like Denim, Real Estate Bets Look Best When Distressed

Although the flood of distressed deals anticipated during 2010 and 2011 didn’t seem to materialize, there is one segment of the market (besides Europe) that seems to be attracting an incredible amount of attention: distressed real estate.

The Morning Leverage: First Reserve Cruises To Caribbean For Power Play

Mike Lucas for Dow Jones

In this morning’s roundup of private equity news, First Reserve Corp. acquired a majority stake in Trinity Power Ltd., a 225-megawatt natural gas fired power generation facility in the Republic of Trinidad and Tobago, from New York energy investor and developer Beowulf Energy LLC.

Also, Clearlake Capital Group bought a majority stake in Entelos Holding Corp., a developer of software used in clinical research that emerged from Chapter 11 bankruptcy protection in September.

The Morning Leverage: PE Past No Bain For Romney In New Hampshire

Mike Lucas for Dow Jones

In this morning’s media roundup, KPS Capital Partners agrees to buy the Bosch’s Foundation Brakes business. Meanwhile, Snow Phipps makes about 2.5 times its investment on exiting FiberVision Holdings.