tyb
French Gov't CTM0001 Falcon7X and CTM0002 Falcon 900 departed Berlin sw and on descent for Paris with French Gov't CTM1101 Airbus A310 on ground at CDG
was already on fire, below decks in engine room before it left the dock. It wasn't the titanic either.
Crowdstrike Holdings, Inc sold by Warburg Pincus Private Equity: $773.05m-June 25
Warburg family
The Warburg family is a prominent American family and financial dynasty of German Jewish descent, noted for their varied accomplishments in biochemistry, botany, political activism, economics, investment banking, law, physics, classical music, art history, pharmacology, physiology, finance, private equity and philanthropy.[1]
They originated as the Venetian Jewish del Banco family, one of the wealthiest Venetian families in the early 16th century.[2] Following restrictions imposed on banking and the Jewish community, they fled to Bologna, and thence to Warburg, in Germany, in the 16th century, after which they took their name.
The family re-established itself in Altona, near Hamburg in the 17th century, and it was there that M. M. Warburg & Co. was established in 1798, among the oldest still existing investment banks in the world. Other banks created by members of the family include: M.M.Warburg & Co., Warburg Pincus, S. G. Warburg & Co. (becoming UBS Warburg).
https://infogalactic.com/info/Warburg_family
https://www.finviz.com/insidertrading.ashx?oc=1414565&tc=7&b=2
from today
Portland-based Wex secures $400 million private investment
The investment by New York-based private equity firm Warburg Pincus LLC will help Wex navigate 'the current uncertain operating environment,' it said.
https://www.pressherald.com/2020/06/29/portland-based-wex-secures-400-million-private-investment/
from June 14th
Hedge fund Elliott Management shifts to elephant hunting as fund size balloons
Until fairly recently, activist hedge fund Elliott Management's core technology investing strategy was pretty straightforward: Target a smallish company known for selling software to businesses, agitate for a sale sometimes by offering to buy the company and profit when a buyer came along. Some of the targets were well-known within particular tech sector niches, like BMC, Novell and Informatica, but none were giants or household names.
Elliott, founded by billionaire Paul Singer, notched sale after sale, reaping gains from the associated premiums on the acquisitions.
Its track record gave Singer a reputation among CEOs and board members as the world's most feared investor. Former AthenaHealth CEO Jonathan Bush, whose company was targeted by Elliott in 2017, described doing research on Elliott as 'Googling this thing on your arm and it says, 'You're going to die.'" The New Yorker called Singer a "Doomsday Investor," highlighting a series of unflattering tactics taken by one of Singer's top lieutenants, Jesse Cohn, to oust Bush from his role.
But in the past few years, a gradual but noticeable transformation has taken place at Elliott: The technology targets have gotten bigger. In 2019, Elliott bought stakes in eBay ($34 billion market capitalization), SAP ($159 billion) and AT&T ($217 billion market cap). This year, Elliott has already ($26 billion market cap) and SoftBank ($93 billion).
The change was driven at least in part by Elliott's growth. The fund's assets under management this year are about $42 billion – doubling from 2012, including a $5 billion raise in 24 hours in 2017. The smaller transactions no longer move the needle like they once did.
Finding suitable software targets has also become more difficult as multiples have expanded, companies have consolidated, and management has become more sophisticated. Elliott continues to look at some midsize enterprise software companies, including Instructure, which sold to private equity firm Thoma Bravo in a deal that closed last month for about $2 billion, according to people familiar with the matter. But the firm hasn't acted, believing targets to be fully valued.
The bigger targets have required the firm to adjust its tactics. Elliott has had to be more collaborative, working with companies that have no obvious buyers given their size.
Cohn, who has led most of Elliott's technology transactions, now sits on the boards of both eBay and Twitter. Rather than agitating for public change, he has worked in tandem with management at both companies – a tactic used by activist fund ValueAct, which earned a reputation as being "friendly" after taking a stake at Microsoft in 2013, months before CEO Steve Ballmer stepped down. (ValueAct and Microsoft both denied that the firm played a part in ousting Ballmer, but the firm's investment is credited with drawing new attention to the company's stagnant stock price and strategic missteps under Ballmer's tenure.)
moar here
https://www.msn.com/en-us/money/companies/hedge-fund-elliott-management-shifts-to-elephant-hunting-as-fund-size-balloons/ar-BB15sOef
not enough "outside" ownership to do it so far.
this also Class B to Class A conversion and sale
Algo's keep it propped.
a memorable day that was