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Prairie Capital, the Chicago-based investment firm, closed its fifth fund oversubscribed with $300 million in committed capital. Prairie Capital typically acquires U.S. companies with annual cash flows of $4 million or more and recurring annual revenues in excess of $20 million.
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Top 10 peHUB Posts This Week
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 1. Scoop: Whose Hooters? HIG’s! - by Jonathan Marino, posted on Jan. 26. 2. With Looming Facebook IPO, Better Buy a House Now (If You Can Find One) - by Connie Loizos, posted on Jan. 26. 3. Michael Psaros: You Must Be Kidding Me With This Recovery - by Bernard Vaughan, posted on Jan. 26. 4. Mid-Market Firms Rally Against Registration - by Bernard Vaughan, posted on Jan. 21. 5. Maybe Reid Hoffman Won’t Be an Instant Billionaire - by Lawrence Aragon, posted on Jan. 27. 6. 2011 The Year Of Buyout Shop Takeovers? - by Bernard Vaughan, posted on Jan. 26. 7. Second-Guessing SecondMarket - by Connie Loizos, post on Jan. 27. 8. CalPERS and CalSTRS to World: We’re Back, Baby - by Connie Loizos, posted on Jan 20. 9. VC Blog Ranks VC Bloggers - by Joanna Glasner, posted on Jan. 21. 10. Exit Machine Sequoia Raises $1.35B — Without Mark Kvamme - by Connie Loizos, posted on Jan. 25. Read more »
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peHUB Second Opinion
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 In The Dark: Egypt successfully cuts off access to the Internet. And, Sen. Joe Lieberman wants the same option here in the U.s. On the Block: Madoff lawsuit causes New York Mets to seek one or more strategic partners. Raising Money: KKR sweetens terms for its new mega fund. Be Nice: To peers, clients and customers because they'll make good references. Read more »
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Why Is Accel Ramping Its Cleantech Effort, While Others Seem To Pull Back?
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 Peter Wagner Reveals a New Cleantech Conviction Accel Partners has been wary of cleantech investing, but this a...
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Scoop: CommonAngels Is Half Way To New $20M Fund
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 The firm closed on $10 million of the total last year, according to a Dec. 20 filing with the Securities and Exchange Commission. It is actively seeking the remainder, says one source with knowledge of the plans. The focus of the fund wasn’t immediately clear. The CommonAngels Web site points out that the firm invests in early stage information technology companies both as angels and through its microcap venture fund. The microcap fund makes see...
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BankUnited IPO is Very, Very Good For Carlyle, Blackstone and Ross
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 BankUnited, which is backed by investors including Carlyle and the Blackstone Group, went public today and the IPO looks to be hitting it out of ball park. Shares of BankUnited gained $1.15, or 4.3%, to $28.16 in mid-day trading Friday. Late Thursday, the bank priced 29 million shares at $27 each, an increase from its earlier target of 26.25 million shares at $23 to $25 each. Bookrunners on the deal include Morgan Stanley, BofA Merrill Lynch, Deutsche Bank and Goldman Sachs. Read more »
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Eric Wenick, among the founding bloc of MHT Partners team members, has been promoted to managing director of its Dallas office. He joined MHT in 2001. Wenich was also a founding member of Serra Partners, an advisory firm based in California, and worked at Donaldson, Lufkin & Jenrette. MHT also promoted Tom Burgett to director of its Dallas office. Prior to joining MHT, he worked with Lincoln International. Read more »
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Sara Lee to Split Up After Rejecting PE Offers, But Bidders May Circle Back
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 The Downers Grove, Ill.-based company said Friday that its board has agreed in principle to divide into two separate, public companies. Sara Lee’s North American retail and food service business will be part of a new company that retains the “Sara Lee” name. Brands will include Jimmy Dean sausages, Ball Park Franks and Hillshire Farm lunch meats. This company is expected to have $4.1 billion in annual revenue. The other company — which still doesn’t...
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The Carlyle Group has agreed to buy Integrated Dental Holdings from Bank of America Merrill Lynch Capital Partners. Carlyle, in partnership with Palamon Capital Partners, plans to merge Integrated Dental with Associated Dental Practices. Carlyle will own a majority while Palamon, a UK buyout shop, will share joint governance, a statement said. Financial information wasn't disclosed but Bank of America Merrill Lynch Capital Partners is selling all of its stake. BAMLCP is the PE arm of Bank of America.
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Plum District, a daily coupon and discount site focused on moms and families, has raised $8.5 million in Series A financing. Kleiner Perkins Caufield & Byers led the round, which included investments from General Catalyst Partners. Kleiner Perkins Partner Aileen Lee will join the board as a result of the financing. Plum District is currently operating in a handful of US markets, including the San Francisco Bay Area, San Diego, Orange County, Los Angeles, Chicago, New York and Washington D.C. Read more »
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Kony Solutions, a developer of products to help corporations design, deploy and manage mobile offerings, has raised $19.1 million in Series A financing from New York-based Insight Venture Partners. The firm has contributed an initial tranche of $13.4 million, which Kony will use to continue research and development and to expand sales and marketing.
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Professional networking site LinkedIn is planning to raise up to $175 million in its initial public offering, Reuters reported, citing a regulatory filing. Formed in 2002, the company announced its plans for an IPO on Thursday. LinkedIn is backed by investors including Greylock Partners, Bessemer Venture Partners, Goldman Sachs and Sequoia Capital. Morgan Stanley, Bank of America and JPMorgan are among the bookrunners for its IPO, Reuters said. Read more »
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Buyout shops Permira and Kohlberg Kravis Roberts & Co. are considering selling their stakes in European broadcaster ProSiebenSat1, Reuters reported. KKR and Permira bought ProSieben for 3.3 billion euros in 2006. Read more »
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Buyout shop Parthenon Capital Partners said that it has recapped Social Service Coordinators Inc., and combined the company with existing portfolio company The Coding Source. Financial terms of the deal were not released. Social Service Coordinators provides revenue cycle management services for health plans. The Coding Source provides risk adjustment services to Medicare Advantage and Managed Medicaid plans. Parthenon has offices in Boston and San Francisco. Read more »
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peHUB First Read
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 How to Leak: A comprehensive piece chronicling Julian Assange’s dealings with major media outlets The Public Network: Linkedin's IPO only stokes further expectations for Facebook Refinancing: Borders gets a commitment from GE Capital for $550 million, and there’s probably a new GE Capital TV ad coming out of this… Read more »
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Social e-commerce marketplace Storenvy has raised $1.5 million in a round led by Spark Capital and First Round Capital. Also participating were Kleiner Perkins Caufield & Byers; Charles River Ventures; and angel investors including TechStars founder David Cohen, Tumblr president John Maloney and Performable chief executive David Cancel. Based in San Francisco, Storenvy is developing a online social marketplace for shoppers to find and purchase goods from independent brands. With the new funding, the company plans to expand its staff. Read more »
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Maybe Reid Hoffman Won’t Be an Instant Billionaire: Updated
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 The first thing I did when I opened its S-1 was to look at the stock holdings of Reid Hoffman (pictured), its founder. Wow, I thought to myself, Hoffman owns about 19 million shares, making him the company’s largest shareholder, with a 21.4% stake. Assuming – conservatively, I thought – the stock goes to 100 bucks within six months, Hoffman is sitting on just under $2 billion. (Note that LinkedIn has not priced its shares yet.) The company’s VC backers would also make a mint under my initial thinking, most notably Sequoia Capital, with 16.8 million shares, or an 18.9% stake; and Greylock Partners (where Hoffman is a general partner), with about 14 million shares, or a 15.8% stake. (Bessemer Partners holds about 4.6 million shares, or a 5.1% stake.) (See table below.) Then I looked at LinkedIn’s financials and I felt deflated. Read more »
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Snow Phipps Breaks $600M Mark on Second Fund, Presses On
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 Well, the time has arrived: they’re closing in on that target, after spending more than a year making very few headlines. According to an S.E.C. filing, Snow Phipps has raised $612.7 million from 63 investors, putting them just shy of their biggest fund ever. We put a call into Snow Phipps, and will be back with more if they share it with us. Read more »
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peHUB Second Opinion
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 Makin’ Deals: Verizon is trying to buy IT service provider Terremark Worldwide in a $1.4B deal Breakin’ Up: Sara Lee, having spurned PE, may welcome their bids—but they’re auctioning off piecemeal, now Read more »
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