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Private Equity In The 21st Century
Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital expanded along parallel and interrelated tracks. The development of the private equity and venture capital asset classes evolved, from the middle of the 20th century, through a series of boom-and-bust business cycles. As the century ended, so, too, did the dot-com bubble and the tremendous growth in venture capital that had marked the previous five years. Following the collapse of the dot-com bubble, a new "Golden Age" of private equity ensued, as leveraged buyouts reach unparalleled size and private equity firms achieved new growth levels of scale and institutionalization, an example of which is found in The Blackstone Group's 2007 IPO. Bursting the Internet Bubble and the private equity crash (2000–2003) The Nasdaq crash and technology sl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Private Equity And Venture Capital
The history of private equity and venture capital and the development of these asset classes has occurred through a series of boom-and-bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks. Since the origins of the modern private equity industry in 1946, there have been four major epochs marked by three boom and bust cycles. The early history of private equity—from 1946 through 1981—was characterized by relatively small volumes of private equity investment, rudimentary firm organizations and limited awareness of and familiarity with the private equity industry. The first boom and bust cycle, from 1982 through 1993, was characterized by the dramatic surge in leveraged buyout activity financed by junk bonds and culminating in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
News Corporation (1980–2013)
News Corporation (abbreviated News Corp.), also variously known as News Corporation Limited, was an American multinational mass media corporation controlled by media mogul Rupert Murdoch and headquartered at 1211 Avenue of the Americas in New York City. Prior to its split in 2013, it was the world's largest media company in terms of total assets and the world's fourth largest media group in terms of revenue, and News Corporation had become a media powerhouse since its inception, dominating the news, television, film, and print industries. News Corporation was a publicly traded company listed on NASDAQ. Formerly incorporated in Adelaide, South Australia, the company was re-incorporated under Delaware General Corporation Law after a majority of shareholders approved the move on November 12, 2004. News Corporation was headquartered at 1211 Avenue of the Americas, New York, in the newer 1960s–1970s corridor of the Rockefeller Center complex. On June 28, 2012, after concerns f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ted Forstmann
Theodore Joseph Forstmann (February 13, 1940 – November 20, 2011) was one of the founding partners of Forstmann Little & Company, a private equity firm, and chairman and CEO of IMG, a global sports and media company. A billionaire, Forstmann was a Republican and a philanthropist. He supported school choice and funded scholarship programs for the disadvantaged. He led a tour of refugee camps in the former Yugoslavia. Early life Forstmann was born and raised in Greenwich, Connecticut, the second of six children. He was the son of Dorothy (née Mercadante) and Julius Forstmann, who ran a wool business that went bankrupt in 1958. Julius had inherited Forstmann Woolen Co. from his own father, one of the richest American businessmen. Forstmann had German and Italian ancestry. He was a graduate of Greenwich Country Day School and Phillips Academy. He then played goalie on the ice hockey team at Yale University where he was a member of Delta Kappa Epsilon fraternity. Forstmann later ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hicks Muse Tate & Furst
HM Capital Partners was a private equity firm in the United States that specialized in leveraged buyouts. The firm was previously known as Hicks, Muse, Tate & Furst. It was founded in 1989 by Tom Hicks and John Muse as Hicks, Muse & Co. and was changed in 1994 to reflect the roles of Charles Tate and Jack Furst. History Hicks & Haas The son of a Texas radio station owner, Tom Hicks became interested in leveraged buyouts as a member of First National Bank's venture capital group. Hicks and Robert Haas formed ''Hicks & Haas'' in 1984; the next year that firm bought ''Hicks Communications'', a radio outfit run by Hicks' brother Steven. (This would be the first of several media companies bought or created by the buyout firm that involved Steven Hicks.) Hicks & Haas' biggest coup was its mid-1980s acquisition of several soft drink makers, including Dr Pepper and 7 Up. The firm took Dr Pepper/7 Up public just 18 months after merging the two companies. In all, Hicks & Haas turned an $ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tom Hicks
Thomas Ollis Hicks Sr. (born February 7, 1946), is an American private equity investor and sports team owner living in Dallas, Texas. ''Forbes'' magazine estimated Hicks' wealth at $1 billion in 2009, but it dropped to $700 million in 2010. Hicks co-founded the investment firm, Hicks, Muse, Tate & Furst, previously owned 50% of the English football club Liverpool F.C., and is chairman of Hicks Holdings LLC, which owns and operates Hicks Sports Group, the company that formerly owned the Texas Rangers, the Dallas Stars, and the Mesquite Championship Rodeo. In 2010, Hicks was forced to sell the Rangers and Liverpool to satisfy his creditors, and the Stars went into bankruptcy the following year. Biography The son of a Texas radio station owner, Hicks was born in Port Arthur, Texas, and graduated from Thomas Jefferson High School, in Port Arthur, in 1964. Hicks received his bachelor's degree in finance from the University of Texas in 1968, and received his MBA from the Univer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dot-com Bubble
The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 400%, only to fall 78% from its peak by October 2002, giving up all its gains during the bubble. During the dot-com crash, many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications, and Global Crossing, failed and shut down. Some companies that survived, such as Amazon, lost large portions of their market capitalization, with Cisco Systems alone losing 80% of its stock value. Background Historically, the dot-com boom can be seen as similar to a number of other technology-inspired booms of the past including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in the 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Winstar Communications
Winstar Communications (at some point WinStar Communications) was an American telecommunications company that provided broadband services to business customers. Winstar owned and operated a broadband network in 60 major markets in the United States, including each of the top 30 U.S. markets and ten markets internationally in Europe, Asia, and Latin America. Winstar was a notable example of the internet and telecom bubbles of the late 1990s. At its peak in 2000, less than a year before its collapse, the company had a market capitalization in excess of $4.4 billion and revenues of $445.6 million for the year ended December 31, 1999. Winstar also bought Fox Lorber Home Video from New Video in the mid-1990s. In 2001, Genius Products bought out Fox Lorber after Winstar was shuttered. History The company was founded in 1993 as a reseller of long-distance service. After winning auctions for radio spectrum, the firm became a Competitive Local Exchange Carrier and began selling wirele ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Crossing
Global Crossing was a telecommunications company that provided computer networking services and operated a tier 1 carrier. It maintained a large backbone network and offered peering, virtual private networks, leased lines, audio and video conferencing, long-distance telephone, managed services, dialup, colocation centres and VoIP. Its customer base ranged from individuals to large enterprises and other carriers, with emphasis on higher-margin layered services such as managed services and VoIP with leased lines. Its core network delivered services to more than 700 cities in more than 70 countries. Global Crossing was the first global communications provider with IPv6 natively deployed in both its private and public networks. It was legally domiciled in Bermuda and had its administrative headquarters in New Jersey. In 1999, during the dot-com bubble, the company was valued at $47 billion, but it never had a profitable year. In 2002, the company filed for one of the largest bankru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adelphia Communications
Adelphia Communications Corporation was an American cable television company with headquarters in Coudersport, Pennsylvania. It was founded in 1952 by brothers Gus and John Rigas after the pair purchased a cable television franchise for US$300. Combining various cable properties, the company became one of the most successful in the United States and reached over two million subscribers in 1998. In addition to cable television, Adelphia later started providing high-speed internet, phone services and voice messaging for businesses. Despite its success, in 2002 the company filed for bankruptcy amid an internal corruption scandal. An investigation was launched and later revealed that some members of the Rigas family used $2.3 billion to illegitimately purchase personal luxuries. A trial for the case was launched and saw John Rigas being sentenced to 15 years in prison, while his son Timothy Rigas received a sentence of 20 years. John Rigas was released in 2016 as a result of health is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WorldCom
MCI, Inc. (subsequently Worldcom and MCI WorldCom) was a telecommunications company. For a time, it was the second largest long-distance telephone company in the United States, after AT&T. Worldcom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to WorldCom scandal, inflate the company's assets. In January 2006, the company, by then renamed MCI, was acquired by Verizon Communications and was later integrated into Verizon Business. Worldcom was originally headquartered in Clinton, Mississippi before relocating to Ashburn, Virginia when it changed its name to MCI. History Foundation In 1983, in a coffee shop in Hattiesburg, Mississippi, Bernard Ebbers and three other investors formed Long Distance Discount Services, Inc. based in Jackson, Mississippi and in 1985, Ebbers was named chief ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital media, digital subscribers. It also is a producer of popular podcasts such as ''The Daily (podcast), The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones (publisher), George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked List of newspapers by circulation, 18th in the world by circulation and List of newspapers in the United States, 3rd in the U.S. The paper is owned by the New York Times Company, which is Public company, publicly traded. It has been governed by the Sulzberger family since 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moody's
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities. Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies. It is also included in the Fortune 500 list of 2021. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moody's Investors Service rates debt securities in several bond market segments. These include government, municipal and corporate bonds; managed investments such as money market funds and fixed-income funds; financial institutions including banks and non-bank finance companies; and asset classes in structured finance. In Moody's Investors Service' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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