CHICAGO – The $22 billion Illinois Teachers’ Retirement System has adopted a new asset allocation mix that more than doubles its private equity allocation to 7%, boosting it by $880 million, said Executive Director Keith Bozarth. The move also bumps international equities by 6%, or $1.3 billion. Bozarth said it has not yet been determined […]
RIO DE JANEIRO, Brazil – When Brazil privatized its dilapidated telecom system in July 1998, industry watchers hailed it as the country’s most significant privatization in three decades. The Brazilian government had declared growth of the telecom sector integral to the development of its economy, the tenth largest in the world. And as the sixth […]
WAYNE, Pa. – Internet Capital Group Inc., an Internet holding company, went public August 5, offering 14.9 million shares at $12 apiece. The company’s stock priced at the high end of its $10 to $12 filing range. Merrill Lynch & Co., BancBoston Robertson Stephens, Deutsche Banc Alex. Brown, Bank of America Securities L.L.C. and Wit […]
New York – HotJobs.com Ltd., an Internet-based recruiting solutions company, held an initial public offering August 10. The company offered 3 million shares at $8 apiece, lower than its $9 to $11 filing range. Deutsche Banc Alex. Brown, BancBoston Robertson Stephens, SG Cowen and E*OFFERING underwrote the initial public offering, which left 26.6 million shares […]
OAK RIDGE, Tenn. – Interactive Pictures Corp., a provider of interactive photography and immersive imaging for the Internet, held an initial public offering August 5. The company offered 4.2 million shares at $18 apiece, at the high end of its $16 to $18 filing range. J.P. Morgan & Co., Hambrecht & Quist, Morgan Keegan & […]
BELLEVUE, Wash. – ImageX.com Inc., an Internet-based business-to-business intermediary in the U.S. commercial printing industry, went public August 26, offering 3 million shares at $7 apiece. The company’s stock priced exactly at its filing price. Underwritten by Volpe Brown Whelan & Co., Prudential Securities and E*Trade Securities Inc., the initial public offering left 16.1 million […]
NEW YORK – IXnet Inc., a worldwide provider of communications services to the financial services industry, went public August 12, offering 6.5 million shares of common stock at $15 apiece. The company’s stock priced below its $18 to $20 filing range. Underwritten by Donaldson, Lufkin & Jenrette, Salomon Smith Barney, Merrill Lynch & Co., First […]
HONG KONG – When Jim McNiel, a vice president at Pequot Capital Management, toured Asia a few months ago with the management team of Internet communications company Asia Online Ltd., he couldn’t believe what he saw. “I felt like I was going back in time,” he says, referring to the burgeoning Asian Internet market. With […]
The University of North Carolina at Chapel Hill (UNC), a key player in private equity investing, is making room for more partnerships. Although UNC has had a 16 year history of alternative investing, the university officially carved out 15% of its $800 million endowment for private equity in May 1998, based on the suggestion of […]
NEW YORK – Founded in 1998, Psilos Group Partners L.L.C. invests in early- to pre-IPO health-care, digital media and Internet companies, focusing on businesses that combine these fields. Some 80% of Psilos Group Partners L.P. I, which closed on $100 million in July 1998, already is invested or committed. Psilos, at press time, had backed […]