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The company raised $30 million during the spring and is now raising more money from private equity sources.
They [Permira and CVC] borrowed an extra £500m, partially funding a dividend that they paid to themselves, and roughly halving their corporation tax bill.' Private equity sources hit back.
But rather than a traditional-priced seed round for equity, sources say Duplan structured the financing as convertible debt.
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Citigroup also used equity in its product name, calling the line an "Equity Source Account".
A senior private equity source says that banks were offering unnecessarily high multiples of debt to finance leveraged deals, and sometimes their own equity to boot.
The other, a 72-story mixed-use building at 53 West 53rd Street, is set to rise adjacent to the Museum of Modern Art once an equity source is chosen.
That's partially down to an effort to "clean the cap table" by buying out some early investors and longer-serving or former staff with equity, two sources told TechCrunch.
That's partially down to an effort to 'clean the cap table' by buying out some early investors and longer-serving or former staff with equity, two sources told TechCrunch.
On top of which, the continued turmoil in real estate has meant that home equity — a source of security for many families and a fallback for college funds for some of them — is not as easy, or in some cases impossible, to tap.
The latter marks an important shift, as for decades, thousands of General Partners have tried to convince Limited Partners — their investors — that they're good at all three parts of private equity: 1) sourcing strong new deals, 2) executing transactions (making good decisions) and 3) adding value post-close.
A net 52% have an overweight position in equities.One source of an August wobble, therefore, might be belated concern about the prospects for global growth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com