Middle Market Weekly Outlook

When a railway is dubbed “the lunatic line,” it’s not a good sign.

The Economist tells the story of how private equity has brought technology and skills to a seemingly ill-advised Kenyan railway built during British colonial times. The magazine reports that Africa is flush with PE money right now, with $8.1 billion invested last year. “This great migration of capital comes as African economies are slowing after a decade of great growth.”

Opinions:

• Private equity doesn’t lose sleep over rate decision
• Is it time for PE reform?
• There’s more and more scrutiny of PE fees
• Will Q4 be the quarter of IPOs?
• Information asymmetry plagues PE
• Financial sponsors announce record-breaking tech exits via M&A
• Private equity brings skills and technology to an African railway
• Mid-market companies are wary of PE
• Today’s companies are on a well-worn path

Transactions:

• GE Capital sells PE arm to Ardian
• Prosper Marketplace acquires BillGuard
• Cotton Creek Capital sells Graco Supply & Integrated Services
• Apax invests in Ideal Protein
• Parthenon Capital buys Millennium Trust
• Sterling Group sells Liqui-Box

This Week in History… The Federal Trade Commission Act establishes the Federal Trade Commission (FTC). Among the FTC’s aims are protecting consumer interests and upholding antitrust legislation. (1914)