Norwegian Cruise Line prices its IPO | Weekly Summary | Transitions
January 9, 2013
Private Equity SmartBrief
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In This Issue
Norwegian Cruise Line
prices its IPO

Norwegian Cruise Line, backed by Apollo Global Management and TPG, has priced its initial public offering in the range of $16 to $18 per share. The company hopes to sell 23.5 million shares, which at the midpoint of the range would raise $400 million, to help pay down debt. The New York Times/DealBook blog (1/8)
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In This Issue
Weekly Round-Up
Weekly Summary
The endowment for Dartmouth College returned 5.8% last year, tops in the Ivy League. Still, not everyone was happy. An anonymous letter asked state officials to investigate whether there were conflicts of interest involving investments with trustees' vehicles, including private-equity funds. Although the state attorney general's office declined to investigate, the topic has raised thorny issues for schools that rely on alternative investments run by trustees.

Be sure to follow us on Twitter, @Broadgate, where we cover private equity, venture capital and other aspects of the economy.
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LBO France has appointed Vincent Brianšon as director for its White Knight Funds. He will join LBO France from London-headquartered Bridgepoint, where he's spent the past 14 years of his career.

Kok Song Ng, the first-ever group chief investment officer at the Government of Singapore Investment Corp., has retired. His deputy, Chow Kiat Lim, will succeed him.

John Suhler has stepped down as president of Veronis Suhler Stevenson, a firm he co-founded alongside John Veronis in 1981. Suhler and the firm established a succession plan over the last five years.
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Weak Chinese IPO market slows PE exits
A report by China First Capital finds that private-equity funds in China are holding 82% of the companies they have invested in since 2007. Because of regulatory holdups, as many as 800 Chinese initial public offerings await approval. Bloomberg (1/8)
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Private equity had a strong fundraising year in 2012
In 2012, U.S.-based private-equity firms raised $160.4 billion, the most since 2008 and a 20% increase over 2011, according to a report by Dow Jones. The size of the median fund rose to $310 million last year, up 24% from 2011. Chicago Tribune (1/7)
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Privcap talks investment thesis
Industry experts sit down with Privcap to discuss how firms can source deals while sticking to an investment thesis. Privcap (free registration required)
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CVC agrees to buy Cerved
CVC Capital Partners will pay $1.49 billion for credit data intelligence company Cerved. CVC said in a statement that it hopes to help Cerved grow beyond the Italian marketplace. The New York Times/DealBook blog (1/3)
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KKR-backed Weld North to buy juice-maker
Organic Avenue, a juice and raw foods company, is being acquired by Weld North for an undisclosed sum. Plans call for an expansion of the company into new markets, including Los Angeles and Miami. The New York Times/DealBook blog (1/7)
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Sovereign Wealth Funds
China Investment Corp. looks to drive away with Daimler stake
China Investment Corp. is prepping to acquire as much as a 10% stake in German automaker Daimler for an undisclosed sum, according to a published report citing sources familiar with the matter. The sovereign wealth fund recently bought 10% of the operator of London's Heathrow Airport. The Washington Post (1/7)
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Clearlake fund oversubscribed
Limited partners have committed more than $785 million to Clearlake Capital Group's latest vehicle, surpassing the $600 million target. With the latest fund, the firm now has approximately $1.4 billion in assets under management. Clearlake focuses on portfolio companies in the midst of financial or operational change. Mergers & Acquisitions (1/3)
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If you want to test your memory, try to recall what you were worrying about one year ago today."
-- E. Joseph Cossman,
American entrepreneur and inventor
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