Week in Review: Yahoo, Moleskine, and Optimistic Dealmakers

Despite the warnings last week about private equity’s possible demise, spirits are generally high among deal professionals. According to two different surveys, dealmakers expect 2013 to have more activity than 2012. Considering the Federal Reserve left interest rates untouched, the favorable leveraging environment may facilitate the activity.

In other news, Yahoo is in talks to buy Dailymotion, Buenrostro of CalPERS was indicted for fraud, and Moleskine is going public despite a ho-hum Italian IPO market.

Big Not Always Beautiful for European Private Equity: When it comes to IRR, middle-market European private equity funds take the cake. From 1990-2011, these funds earned an average return of 17.2%, nearly double the average 9.1% across all buyout funds.

Deal Makers Prepare for a Feast of Activity This Year, Survey Finds: According to a recent survey by the Brunswick Group, 97% of surveyed bankers and lawyers are optimistic that “2013 will mean more deals than last year” in North America. Others are less optimistic. The survey also discusses deal sizes, location, and industries.

Yahoo in Talks to Buy Stake in Video Site Dailymotion: Yahoo is apparently in talks to acquire a controlling stake in Dailymotion, a leading online video website. While Marissa Mayer has overseen smaller acquisitions while at Yahoo’s helm, this would be her first major M&A transaction.

Former CalPERS Chief Executive Indicted for Fraud: Federico Buenrostro, the former chief executive of CalPERS, was indicted this week on charges of fraud, obstruction of justice, and making false statements. The charges are in relation to the grander pay-to-play scandal. Still, some key questions remain unanswered.

Everything You Need to Know About Moleskine Ahead of its IPO: Despite the questionable state of the Italian economy and stock exchange, Moleskine is moving forward with an IPO. Does the notebook manufacturer’s confidence suggest a new hope for the IPO market? Or are we witnessing the pure strength of branding?

The Past, Present, and Hopeful Future of Private Equity: While private equity firms have been called some pretty nasty things in the past (corporate raiders, vultures, job killers, etc.), Sumeet Shah is hopeful that the private equity industry can earn public respect through positive publicity, SEC review, and the rise of advocacy groups.

Happy First Birthday JOBS Act: The JOBS Act is nearing its one year birthday. The question remains — how old with the Act be by the time Title II (and III) is implemented? Rather than rushing to implementation, it might be better to have a staged lifting on the ban for general solicitation.

Thanks to seanmcgrath for the photo.