Lease Breaker: Massive Mare Island warehouse fire at former Navy

Pete BennettJanuary 09, 2016 No comments

The Vallejo Fire Department confirmed a "massive" three-alarm warehouse fire on Mare Island shortly before midnight Thursday.

According to the department, the fire on the former Navy shipyard was a "commercial structure fire" at Alco Metal & Iron Company, a recycler at 629 Azuar Drive.

As late as 3 a.m. Friday, the department was asking residents to avoid the area.

The fire department responded almost exactly a year ago to a three-alarm fire in Alco's recycling yard on August 22, 2014, according to published reports at that time.

Mare Island was also the site of a large four-alarm fire in an abandoned barracks last August and a fire in 2005 that destroyed $200 million worth of wine and resulted in the conviction of an arsonist.

CBRE: Massive Mare Island warehouse fire at former Navy shipyard; no injuries

Pete BennettJanuary 09, 2016 No comments

Massive Mare Island warehouse fire at former Navy shipyard; no injuries

Associated Press

Posted: 08/21/2015 08:24:16 AM PDT0 Comments | Updated: 5 months ago

VALLEJO -- A fast-moving warehouse fire at a former San Francisco Bay Area Navy shipyard lit up the night sky, but caused no injuries.

The San Francisco Chronicle reports (http://bit.ly/1hQ5ZVv ) Friday that the fire broke out shortly before midnight Thursday at the Alco Metal & Iron Company, a recycling yard, on Mare Island.

Residents were being asked to avoid the area Friday, but an official shelter-in-place advisory was not issued. Flames from the fire could be seen east of San Francisco.

The fire department responded a year ago Saturday to a big fire in the same recycling yard.

Mare Island was also the site of a four-alarm fire in an abandoned barracks last August and a fire in 2005 that destroyed $200 million worth of wine and resulted in the conviction of an arsonist, the newspaper reported.

Crisis Actors - Posted by Pete Santilli

Pete BennettJanuary 09, 2016crisis actors No comments

Posters Note:

I've affected by shootings on both sides officers, employees and friends. My posting about #deadofficials is accurate. There are too many incidents that constantly blame the Gun Lobby and few look at the anti-Gun Lobby or possible subversive operators.

Pete Santilli has found something but they could be there to document the audience, pick up conversations shared privately and may be truly on the side of good.

Be objective and vigilant. He's found something most miss and recently I was tipped via someone from San Bernardino where I learned from someone out of nowhere about the term "Crisis Actor" was.

A week after the shootings - she's vanished but every snippet helps.

#HomelessHomicides - CB Richard Ellis - UC Regents - The Agora Walnut Creek

Pete BennettJanuary 08, 2016Bay Area Homeless, Homeless, Todd Cambra No comments

This page is dedicated to Todd Cambra RIP January 6th, 2016 - A man desperately seeking life died from exposure at night, alone and under that bridge where he was run down like a dog in the street.

https://www.google.com/search?q=%23HomelessHomicides+&ie=utf-8&oe=utf-8

Top Contributors Representative Mark Desaulnier

Pete BennettJanuary 07, 2016Congressman DeSaulnier, Contra Costa County, Dead Witnesses, Endorsed by Mark Peterson, Politicians No comments

California Senate Legislative Package to Prevent and Address Homelessness in our Local Communities

Pete BennettJanuary 07, 2016Bay Area Homeless No comments

California Senate Legislative Package to Prevent and Address Homelessness in our Local Communities

Monday, January 04, 2016

LOS ANGELES — To assist local communities in preventing and addressing homelessness, a bipartisan coalition of members from the California State Senate introduced a strategic and first-of-its kind “No Place like Home” initiative at a press conference at The Star Apartments on Skid Row in Los Angeles on Monday. This unprecedented policy framework amounting to over $2 billion in support builds on years of research and best practices and is guided by the core belief that no individual or family in California should ever experience the uncertainty and pain of living without a home.

“This bipartisan legislative package will help secure progress in tackling homelessness and provide a key to health and hope for many Californians who have no place to go.” said Senate President pro Tempore Kevin de León (D-Los Angeles). “Coming off the holiday season, I can think of no better way to start the legislative session than in Skid Row focused on lifting those without voices in our political process.”

“This is a tipping-point moment for mental health, homelessness, and Proposition 63 in California.” Said former Senate leader Darrell Steinberg, co-author of Proposition 63 (2004) – The Mental Health Services Act – and founder The Steinberg Institute. “Thanks to the leadership of this Senate, we have a historic opportunity to help local communities forge systemic long-term solutions, making a real difference in the lives of thousands of forgotten Californians.”

The Senate proposal is crafted with the understanding that fighting modern homelessness – with long-term solutions, not short-term band-aids – requires a localized approach sustained by a strategic statewide commitment.

The proposals will empower local governments with additional resources and flexibility to better serve homeless individuals and families, increase access to affordable housing, address the effects of income inequality and, and extend proven programs for homeless who are either disabled or in need of mental-health assistance.

California has the nation’s largest homeless population while ranking as the seventh largest economy of the world at the same time. The 114,000 total homeless people who live across our state make up 22 percent of the nation’s homeless population, with Los Angeles holding the dubious ranking of the homeless capital of the country with nearly 42,000 homeless residents.

The Senate legislative package on homelessness re-purposes Proposition 63 (2004) – The Mental Health Services Act – bond money and creatively leverages billions of additional dollars from other local, state, and federal funding to achieve the following goals:

Housing:
            •           $2 billion bond to construct permanent supportive housing for chronically homeless persons with mental illness.

            •           $200 million, over 4 years, to provide supportive housing in the shorter-term, rent subsidies, while the permanent housing is constructed or rehabilitated.

            •           Support for two special housing programs that will assist families:
The “Bringing Families Home” pilot project, a county matching grant program to reduce homelessness among families that are part of the child welfare system.
The CalWORKs Housing Support Program, which provides housing and support services for CalWORKs families in danger of homelessness.

Income support and outreach:
            •           An increase in Supplemental Security Income/State Supplementary Payment (SSI/SSP) program grants which provide income support for the aged, blind, and disabled poor who cannot work.
Rates of homelessness are higher for persons with disabilities who cannot work; SSI/SSP is intended to help them make ends meet, and a large portion of grants usually goes toward rent.
These increases will assist about 1.3 million low-income Californians (72% with disabilities and 28% who are elderly).
            •           A one-time investment to incentivize local governments to boost outreach efforts and advocacy to get more eligible poor people enrolled in the SSI/SSP program.
The federal government covers 72% of the total costs of the SSI/SSP program, so state and local benefits are multiplied significantly for each newly eligible recipient.

California has more than one third of the nation’s chronically homeless – those with mental illness or other significant problems, and an even higher percentage among homeless women. Of the 28,200 chronically homeless in California, nearly 85 percent are unsheltered with this group absorbing the greatest amount of taxpayers’ resources, often toping $100,000 annually per person in public costs for emergency room visits, hospital stays, law enforcement, and other social services.

The Senate proposal supports a “housing first” strategy which many homeless advocates and social service experts across the state prefer because it provides safe, secure housing creates an environment that allows for wrap-around services, such as mental health treatment, to take hold. Studies show homelessness aggravates mental illness, making it more difficult to reach and house those with the greatest need of shelter and treatment.

There are local programs, such as Project 25 in San Diego, which are successfully housing, treating, and transitioning chronically homeless clients back into society. Project 25 is a 3-year-pilot program funded by the United Way of San Diego and led by St. Vincent de Paul which uses the housing first model as a means of intensive case management and delivery of psychiatric and medical care to several dozen clients. Project 25 is paying dividends for the taxpayers. In two years the annual public costs related to participants of Project 25 were reduced nearly 63 percent, to $1.6 million from $4.3 million.

- See more at: http://sd24.senate.ca.gov/news/2016-01-04-senate-announces-%E2%80%9Cno-place-home%E2%80%9D-initiative-tackle-homelessness-california#sthash.w3s9jGA3.dpuf

Dianne Feinstein (D-CA) Avg. Net Worth of Household in 2006 and I'm homeless

Pete BennettJanuary 07, 2016Senator, Senator Diane Feinstein, Wealthy Politicians No comments

5. Dianne Feinstein (D-CA) Avg. Net Worth of Household in 2006: $79,555,657 Spouse Name and Title: Richard Blum Chairman, Blum Capital Partners, LP	Senate Committee Memberships & Symbols Guide: Chair, Rules and Administration Judiciary Appropriations Intelligence 2007 Financial Disclosure Report 12.9MB
Top 5 stocks owned • Top 5 stocks owned by spouse • Top 5 stocks purchased • Top 5 stocks purchased by spouse • Top 5 stocks sold • Top 5 stocks sold by spouse • Related Articles
Top 5 Stocks Owned as of Dec. 31, 2007
Company	Amount	Additional Information
1. Sep. 23, 1991 Dianne Feinstein Trust -- Qualified Blind Trust	$1,000,001 - $5,000,000	No specific stock investments provided.
2. Federated Government Reserve	$1,000,000 - $5,000,000	No specific stock investments provided.
3. Bertram Feinstein Trust	$1,000,000 - $5,000,000	No specific stock investments provided.
4. Dreyfus Treasury Prime Cash	$0 - $1,000	No specific stock investments provided.
[No other stocks owned as of Dec. 31, 2007]
Top 5 Stocks Owned by Spouse as of Dec. 31, 2007
Company	Amount	Additional Information
1. Kinetic Concepts, Inc.	Over $3,943,017 - Over $6,197,000	• Kinetic Concepts, Inc. received $27,500,945 in government contracts for fiscal year 2007, including approx. $21 million frm the Department of Veterans Affairs. • Senator Feinstein sits on the following committee that may present a conflict of interest with this investment: Appropriations
2. CB Richard Ellis Group	Over $3,015,004 - Over $4,050,000	• CB Richard Ellis Group received $2,120,047 in government contracts for fiscal year 2007. • Senator Feinstein sits on the following committee that may present a conflict of interest with this investment:
3. Career Education Corporation	Over $1,647,013 - Over $3,532,000	• Career Education Corp. received $10,285 in services sold to the Air Force for fiscal year 2007. • Senator Feinstein sits on the following committee that may present a conflict of interest with this investment:
4. CB Realty Finance, Inc.	Over $1,000,000	None found
5. RAE Systems Inc.	Over $1,000,000	• RAE Systems Inc. received $1,187,460 in government contracts for fiscal year 2007, including $617,796 from the Navy. • Senator Feinstein sits on the following committee that may present a conflict of interest with this investment: Intelligence and
Top 5 Stock Purchases in 2007
Company	Amount	Additional Information
[No stock purchases made in 2007.]
Top 5 Stock Purchases by Spouse in 2007
Company	Amount	Additional Information
1. CB Realty Finance, Inc.	Over $1,500,001- Over $2,000,000	None found
[No other stock purchases made by spouse in 2007.]
Top 5 Stock Sales in 2007
Company	Amount	Additional Information
[No stock sales made in 2007.]
Top 5 Stock Sales by Spouse in 2007
Company	Amount	Additional Information
[No stock sales made by spouse in 2007.]
Articles on Senator's Stock Trades and Potential Conflicts of Interest
"As chairperson and ranking member of the Military Construction Appropriations subcommittee (MILCON) from 2001 through the end of 2005, Feinstein supervised the appropriation of billions of dollars a year for specific military construction projects. Two defense contractors whose interests were largely controlled by her husband, financier Richard C. Blum, benefited from decisions made by Feinstein as leader of this powerful subcommittee... From 1997 through the end of 2005, with Feinstein's knowledge, Blum was a majority owner of both URS Corp. and Perini Corp... From 2001 to 2005, URS earned $792 million from military construction and environmental cleanup projects approved by MILCON; Perini earned $759 million from such MILCON projects. In her annual Public Financial Disclosure Reports, Feinstein records a sizeable family income from large investments in Perini, which is based in Framingham, Mass., and in URS, headquartered in San Francisco..." Peter Byrne, "Senator Feinstein's Iraq Conflict," Metro Silicon Valley, Jan. 24-20, 2007 "Sen. Dianne Feinstein, D-Calif., has abruptly walked away from her responsibilities with the Senate Military Construction Appropriations Subcommittee after a report linked her votes to the financial well-being of her husband's companies, which received billions of dollars worth of military construction contracts she approved." "Feinstein Quits Committee Under War-Profiteer Cloud," WorldNetDaily.com, Mar. 28, 2007

Trojan Horse Politics - The Deadly Dumb H-1b Feinstein Visa

Pete BennettJanuary 07, 2016Senator Diane Feinstein No comments

Coming soon

How Accenture supports PGE in transforming their business utilizing IBM's Maximo EAM

Pete BennettJanuary 07, 2016Accenture, Big Tech No comments

 
How Accenture supports PGE in transforming their business utilizing IBM's Maximo EAM


         

      
  
    


     

       

      
      
       
     

     
Tuesday, Dec 17, 2013 - Tuesday, Dec 17, 2013    



Event Start Time (Eastern Time): 
1:00 PM        






City: 
Your City        






Company: 
IBM        





        





Enterprise Work and Asset Management is mission 
critical for asset-intensive industries such as utilities. Some 
utilities are implementing an ambitious Enterprise Work and Asset 
Management business transformation program, with the desire to replace 
multiple disparate applications, standardize business processes 
throughout the enterprise, improve efficiency and cost effectiveness 
and, most importantly, provide value to customers. Join this free 
webinar, where industry experts will discuss Portland General Electric’s
 journey within their 2020 Vision Program.        





Enterprise  Work and Asset Management is mission 
critical for asset-intensive  industries such as utilities.  Some 
utilities are implementing an  ambitious Enterprise Work and Asset 
Management business transformation  program, with the desire to replace 
multiple disparate applications,  standardize business processes 
throughout the enterprise, improve  efficiency and cost effectiveness 
and, most importantly, provide value  to customers.   

Join this
 free webinar, where industry experts will discuss Portland  General 
Electric’s journey within their 2020 Vision Program and


Review
 approaches to mitigate risks of its enterprise work  management, 
scheduling and mobile deployment across multiple business  units 
(deployed November, 2012) 
Discuss strategies that were used to manage change across the enterprise 
Show
 roadmap to fully implement the Platform with the new  integrated 
geospatial solution, graphical work design package, and  outage 
management solution

Speakers:


Beth Smith, Director of T&D Transformation, Portland General Electric 
Yale M. Pats, Managing Director, Accenture Utilities Industry Group 
Terry Ray, Strategy and Product Management for Energy, IBM Software Group








Event Website        






Venue: 
Webcast        






Price: 
$0.00 USD        






Person to Contact: 
Ron Wallace        






Phone: 
978.399.5465        






Email Address: 
ron.wallace@us.ibm.com

Incumbent Dan Helix has huge fundraising lead in Concord City Council race

Pete BennettJanuary 06, 2016City Concord, City of San Francisco, Mark Coon, Murders, Seeno Construction, Southern Pacific, suicide No comments

Dan, my dead relatives are dead linked to
Bennett v. Southern Pacific

Incumbent Dan Helix has huge fundraising lead in Concord City Council race

By David DeBolt Contra Costa Times

Posted: 10/09/2012 01:09:12 PM PDT0 Comments Updated: 3 years ago

CONCORD -- The lone incumbent in a crowded Concord City Council race has a huge campaign fundraising lead, with backing from the family who operates the city's trash disposal and contributions from business owners, unions and a prominent developer.
Dan Helix has raised $72,599 since Aug. 1, putting him more than $50,000 ahead of the second place fundraiser in the race of 11 candidates vying for two seats on Nov. 6.
The fundraising totals were released Friday and are from a reporting period beginning July 1 and ending Sept. 30.
"It's from having friends of many years. I'm just overwhelmed and humbled by the amount I've been able to raise," said Helix, who was first on the council in 1968 and returned in 2010, when he was appointed to fill a vacancy.
Most prominent on the list of donors is the Garaventa family and their employees, who operate Concord Disposal Service, the company that has historically provided garbage services for Concord and currently has a long-term franchise agreement with the city.
They have donated $7,600 to Helix. Local developers Tom Seeno and Albert Seeno Jr. each contributed $1,000 to Helix, according to finance reports.
Most of Helix's big donations came from two fundraising events that were $1,000 and $500 to attend respectively, he said.
The retired Army general said he has been friends with the Garaventas for 50 years and has voted against Seeno proposals, including in April 2011 when the council voted 3-2 to deny a Seeno family company's request to extend the deadline to build the second office tower of the Metroplex development on Willow Pass Road and receive financial help from the city.
"I'm not for sale. Your support indicates you believe I could do a good job, but you're not buying me," he said of his donors. "I think the record is clear."
Housewives, restaurant owners, auto body shop owners, insurance agents and commercial real estate brokers are also among Helix's donors. Any leftover campaign money will be donated to local food banks, homeless outreach groups and organizations along the Monument Corridor, Helix said.
Planning Commissioner Tim McGallian was second in fundraising, raising $15,055 this reporting period for a total of $20,505. His donors included the Garaventas, who contributed $4,000; former Councilman Guy Bjerke, who chipped in $250; and Contra Costa District Attorney Mark Peterson, who donated $100.
The Concord Police Officer Association, which has endorsed Helix and McGallian, gave each candidate $1,500.
To date, Carol Longshore has raised $7,050, Ed Birsan $6,353, Terry Kremin $775, Alany Helmantoler $300 and Harmesh Kumar $100. Suzanne Davis-Lucey reported no contributions. The City Clerk's office did not receive financial reports from Robert David Camacho and Marnie Sheehan-Carter.
Birsan and Kumar are running largely self-financed campaigns, having loaned themselves to date $68,941 and $38,353, respectively. A portion of the loans are a carry-over from previous campaigns, Birsan and Kumar each said.
David DeBolt covers Concord and Clayton. Contact him at 925-943-8048.

The Ringheim Murders - 1986

Pete BennettJanuary 06, 2016Alliant Insurance Services Inc, City of Dublin, City of Pleasant Hill, Contra Costa Grand Jury, Dead Customers of Pete Bennett, Municipal Pooling Authority, The Ringheim Murders No comments

Guardianship Records Taken from Contra Costa Superior Court.

Party Name	Type	Case Name	Category	Case Number	Filed
RINGHEIM, AMY LINEA	PLAINTIFF	GUARDIANSHIP OF AMY L INEA RINGHEIM	GUARDIANSHIP OF PERSON ONLY	PROMSP-66346	02/10/1986
RINGHEIM, BETH KIRSTEN	PLAINTIFF	GUARDIANSHIP OF AMY L INEA RINGHEIM	GUARDIANSHIP OF PERSON ONLY	PROMSP-66346	02/10/1986
RINGHEIM, SUZANNE	PLAINTIFF	GUARDIANSHIP OF AMY L INEA RINGHEIM	GUARDIANSHIP OF PERSON ONLY	PROMSP-66346	02/10/1986

Texas Pacific Group (TPG) - The lies of Feinstein through the lies of her husband

Pete BennettJanuary 04, 2016Bay Area Homeless, Private Equity, The Cold Case Files, The Pelosi Files, United States Senate No comments

Nice Digs

From Iraq, to San Jose, to Concow to the deady #campfire

Living Large and Living Well

Barely Living and Hardly Well

TPG Capital

From Wikipedia, the free encyclopedia

"TPG" redirects here. For other uses, see TPG (disambiguation).

TPG Capital

Type	Private
Industry	Private equity
Predecessor	Texas Pacific Group
Founded	1992
Founder	David Bonderman James Coulter William S. Price III
Headquarters	Fort Worth, Texas San Francisco, California United States
Products	Leveraged buyouts, growth capital, venture capital
Total assets	$75 billion
Website	www.TPG.com

TPG Capital (formerly Texas Pacific Group) is an American firm. It is one of the largest private equity investment firms globally, focused on leveraged buyouts, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations. TPG also manages investment funds specializing in growth capital, venture capital, public equity, and debt investments. The firm invests in a broad range of industries including consumer/retail, media and telecommunications, industrials, technology, travel/leisure and health care.
The firm was founded in 1992 by David Bonderman, James Coulter and William S. Price III. Since inception, the firm has raised more than $50 billion of investor commitments across more than 18 private equity funds. ^[1]
TPG is headquartered in Fort Worth, Texas, and San Francisco, California.^[2] The company has additional offices in Europe, Asia, Australia and other parts of North America.

Private equity funds

TPG has historically relied primarily on private equity funds, pools of committed capital from pension funds, insurance companies, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and from other institutional investors. As of the end of 2008, TPG had completed fundraising for over 20 funds with total investor commitments of over $50 billion.
The firm manages investment funds in a number of distinct strategies including:

TPG's flagship leveraged buyout funds
Venture capital funds, particularly focused on biotechnology investments
Distressed debt and other credit strategies invested through a series of funds raised in 2007^[3]
Asian and Latin American funds, including the firm's Newbridge and TPG Asia fund family
Other private equity funds. This includes TPG's T3 Partners funds, which invest in technology focused deals alongside the firm's main buyout funds.^[4] ^[5] TPG Star has a broad investment mandate including buyouts, venture capital and growth capital, however all of its investments are at the smaller end of the range, compared to TPG's traditional investments.^[6]

Fund	Vintage Year	Committed Capital ($m)
TPG's Flagship Leveraged Buyout Funds
Texas Pacific Group Partners	1994	$721
Texas Pacific Group Partners II	1997	$2,500
Texas Pacific Group Partners III	2000	$3,414
Texas Pacific Group Partners IV	2003	$5,300
Texas Pacific Group Partners V	2006	$15,000
TPG Partners VI	2008	$19,800
Venture capital funds
TPG Ventures	2001	$339
TPG Biotechnology Partners	2002	$70
TPG Biotechnology Partners II	2006	$402
TPG Biotechnology Partners III	2008	$550
Distressed debt funds
TPG Credit Management I	2007	$1,000
TPG Credit Strategies	2007	$443
Newbridge and TPG Asia funds
Newbridge Investment Partners	1995	$120
Newbridge Latin America	1995	$300
Newbridge Andean Partners	1996	$150
Newbridge Asia II	1998	$392
Newbridge Asia III	2001	$724
Newbridge Asia IV	2005	$1,500
TPG Asia V	2008	$4,250
Other private equity funds
T3 Partners	1999	$1,000
T3 Partners II	2001	$378
TPG Star	2007	$1,500

Source: Preqin^[1]

History and notable investments

History of private equity and venture capital
Early history
(Origins of modern private equity)
The 1980s
(Leveraged buyout boom)
The 1990s
(Leveraged buyout and the venture capital bubble)
The 2000s
(Dot-com bubble to the credit crunch)
v t e

Founding

The Texas Pacific Group, as it was originally known, was founded in 1992 by David Bonderman, James Coulterand William S. Price III. Prior to founding TPG, Bonderman and Coulter had worked for Robert M. Bass making leveraged buyout investments during the 1980s. In 1993, Coulter and Bonderman partnered with William S. Price III, who was Vice President of Strategic Planning and Business Development for GE Capital, to complete the buyout of Continental Airlines. ^[7] At the time, TPG was virtually alone in its conviction that there was an investment opportunity with the airline. The plan included bringing in a new management team, improving aircraft utilization and focusing on lucrative routes. By 1998, TPG had generated an annual internal rate of return of 55% on its investment.

Texas Pacific Group in the late 1990s

In 1997, TPG completed fundraising for its second private equity fund, with over $2.5 billion of investor commitments. In June 1996, TPG acquired the AT&T Paradyne unit, a multimedia communications business, from Lucent Technologies for $175 million.^[8] Also in 1996, TPG invested in Beringer Wine, Ducati Motorcycles and Del Monte Foods.
TPG's most notable 1997 investment was its takeover of J. Crew. TPG acquired an 88% stake in the retailer for approximately $500 million,^[9] however the investment struggled due to the relatively high purchase price paid relative to the company's earnings.^[10] The company was able to complete a turnaround beginning in 2002 and complete an initial public offering in 2006.^[11]
The following year, in 1998, TPG led an investor group in a minority investment in Oxford Health Plans. TPG and its co-investors invested $350 million in a convertible preferred stock that can be converted into 22.1% of Oxford.^[12] The company completed a buyback of the TPG's PIPE convertible in 2000 and would ultimately be acquired by UnitedHealth Group in 2004.^[13]
As the decade came to a close, TPG was once again fundraising, for its third private equity fund. This time, however TPG was raising not only a new buyout fund, but also a new fund, T3 Partners that would invest alongside the main fund in technology oriented investments. In 1999, TPG invested in Piaggio S.p.A, Bally International (including Bally Shoe), and ON Semiconductor.
TPG has also become recognized for its dedicated operations group that has become a major part of the process from investment to sale in many of their portfolio companies. The group is led by Dick Boyce and involves itself in tricky turnaround situations, operations improvement and other tasks that help create value in the company. Other major private equity firms have begun to develop operations group as well, attempting to recreate the model at TPG but most have had trouble creating as expansive a program.

Texas Pacific Group in the early 2000s

In 2000 TPG and Leonard Green & Partners invested $200 million to acquire Petco, the pet supplies retailer as part of a $600 million buyout.^[14] Within two years they sold most of it in a public offering that valued the company at $1 billion. Petco’s market value more than doubled by the end of 2004 and the firms would ultimately realize a gain of $1.2 billion. Then, in 2006, the private equity firms took Petco private again for $1.68 billion. ^[15]
That same year, in 2000, TPG completed the controversial acquisition of Gemplus SA, one of the leading smart card manufacturers. TPG won a struggle with the company's founder, Marc Lassus, for control of the company.^[16] Also in 2000, TPG completed an investment in Seagate Technology.
In 2001, TPG acquired Telenor Media, a Norwegian phone-directory company, for $660 million, and shortly thereafter acquired a controlling interest in the third largest silicon-wafer maker MEMC Electronic Materials.^[17]
In July 2002, TPG, together with Bain Capital and Goldman Sachs Capital Partners, announced the high profile $2.3 billion leveraged buyout of Burger King from Diageo.^[18] However, in November the original transaction collapsed, when Burger King failed to meet certain performance targets. In December 2002, TPG and its co-investors agreed on a reduced $1.5 billion purchase price for the investment.^[19] The TPG consortium had support from Burger King's franchisees, who controlled approximately 92% of Burger King restaurants at the time of the transaction. Under its new owners, Burger King underwent a major brand overhaul including the use of The Burger King character in advertising. In February 2006, Burger King announced plans for an initial public offering. ^[20]

TPG's San Francisco offices at 345 California Street

In November 2003, TPG provided a proposal to buy Portland General Electric from Enron. However, concerns about debt and local politics led to Oregon's Public Utilities Commission regulators to deny permission for the purchase March 10, 2005.Oregon Public Utility Commission (March 10, 2005). "ORDER NO. 05-114" (PDF). Retrieved February 1, 2008.
TPG ventured into the film business in late 2004 in the major leveraged buyout of Metro-Goldwyn-Mayer. A consortium led by TPG and Sony completed the $4.81 billion buyout of the film studio. The consortium also included media-focused firms Providence Equity Partners and Quadrangle Group as well as DLJ Merchant Banking Partners. ^[21] The transaction, which was announced in September 2004, was completed in early 2005.
Also in 2005, TPG was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.3 billion. TPG's partners in the acquisition were Silver Lake Partners, Bain Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and Blackstone Group. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive.^[22] ^[23]

TPG and 2006–2007 buyout boom

In early 2006, as TPG was completing fundraising for its fifth private equity fund and the buyout boom was entering full swing, TPG co-founder Bill Price announced that he would scale back his work at the firm to focus on personal pursuits including his holdings in wine vineyards. ^[24]
On December 1, 2006, it was announced TPG and Kohlberg Kravis Roberts had been exploring the possibility of a record $100 billion leveraged buyout of the second-largest retailer in the U.S. Home Depot.^[25] Although this massive buyout was never actually completed, TPG was a leading investor during the 2006-2008 buyout boom, completing some of the largest transactions in this period.

Investment	Year	Company Description	Ref.
Neiman Marcus	2005	TPG, together with Warburg Pincus acquired Neiman Marcus Group, the owner of luxury retailers Neiman Marcus and Bergdorf Goodman, in a $5.1 billion buyout in May 2005.	^[26]^[27]
Freescale Semiconductor	2006	TPG together with The Blackstone Group, The Carlyle Group and Permira completed the $17.6 billion takeover of the semiconductor company. At the time of its announcement, Freescale would be the largest leveraged buyout of a technology company ever, surpassing the 2005 buyout of SunGard.	^[28]
Harrah's Entertainment	2006	On December 19, 2006, TPG and Apollo Management announced an agreement to acquire the gaming company for $27.4 billion, including the assumption of existing debt.	^[29]^[30]
Sabre Holdings	2006	TPG and Silver Lake Partners announced a deal to buy Sabre Holdings, which operates Travelocity, Sabre Travel Network and Sabre Airline Solutions, for approximately $4.3 billion in cash, plus the assumption of $550 million in debt. Earlier in the year, Blackstone acquired Sabre's chief competitor Travelport.	^[31]
Univision Communications	2006	A consortium of TPG, Madison Dearborn Partners, Providence Equity Partners, Thomas H. Lee Partners and Haim Saban ( Saban Entertainment) acquired The Spanish-language broadcaster on March 12, 2006 in a $13.7 billion leveraged buyout. The buyout left the company with a debt level of twelve times its annual cash flow.	^[32]^[33] ^[34]
Alltel	2007	TPG and Goldman Sachs Capital Partners announced the acquisition of Alltel Wireless in a $27 billion buyout in May 2007. The transaction was approved by the Federal Communications Commission and closed on November 16, 2007. However just over six months later, on June 5, 2008, TPG and Goldman agreed to sell Alltel to Verizon for slightly more than it had paid for the company amidst a deteriorating economic outlook.	^[35]^[36]
Avaya	2007	TPG and Silver Lake Partners completed an $8.2 billion leveraged buyout of the enterprise telephony and call center technology company that was formerly a unit of Lucent Technologies	^[37]
Biomet	2007	TPG, The Blackstone Group, Kohlberg Kravis Roberts and Goldman Sachs Capital Partners acquired the medical devices company for $11.6 billion.	^[38]
First Data	2007	TPG and Kohlberg Kravis Roberts completed the $29 billion buyout of the credit and debit card payment processor and former parent of Western Union. Michael Capellas, previously the CEO of MCI Communications and Compaq was named CEO of the privately held company.	^[39]^[40]
Midwest Air Group	2007	On August 12, 2007 Agreed to purchase Midwest Air Group and its subsidiaries including Midwest Airlines ending the hostile takeover attempt by AirTran Airways. Northwest Airlines also invested in the transaction alongside TPG as a passive equity co-investor. On August 14, 2007 Increased its offer to purchase Midwest after a late attempt by Airtran to increase its bid for Midwest. The purchase price was $452 million. Midwest lost money during TPG's ownership having to accept a loan from Republic Airways Holdings to avoid bankruptcy. Republic took over Midwest's fleet. Eventually TPG sold the company to Republic for $31 million.^[41]	^[42]
Surgical Care Affiliates	2007	In June 2007, TPG completed the carveout of HealthSouth Corporation's ambulatory surgery business for $920 million	^[43]
TXU	2007	An investor group, led by TPG and Kohlberg Kravis Roberts, and together with Goldman Sachs Capital Partners completed the $44.37 billion buyout of the regulated utility and power producer.^[44] The investor group had to work closely with ERCOT regulators to gain approval of the transaction but had significant experience with the regulators from their earlier buyout of Texas Genco. TXU is the largest buyout in history, and retained this distinction when the announced buyout of BCE failed to close in December 2008. The deal is also notable for a drastic change in environmental policy for the energy giant, in terms of its carbon emissions from coal power plants and funding alternative energy.	^[45]^[46]

In early 2007, the firm, officially changed its name to TPG Capital, rebranding all of its funds across different geographies. The firm's Asian funds, which had historically been managed by TPG Newbridge, a joint venture with Blum Capital.^[47]

TPG and the credit crisis

On April 7, 2008, TPG leads a $7 billion investment in Washington Mutual. On September 25, 2008, Washington Mutual is taken over by the government costing TPG a 1.35 Billion dollar investment.
On March 12, 2010, Gretchen Morgensen in the New York Times discussed TPG's role as a private equity investor in Greek mobile phone operator WIND Hellas, formerly TIM Hellas, which filed for bankruptcy protection late last year.^[48] Morgensen raises some interesting questions about the circumstances in which TPG and fellow private equity investors Apax Partners of London redeemed a significant quantity of "convertible preferred equity certificates" held by them to repay their own "deeply subordinated shareholder loans" during a period in which a significant and apparently unexplained spike occurred in the market value of the certificates.

Post-recession activity

On June 10, 2010, TPG announced an acquisition of Vertafore, a provider of software for the insurance industry, for $1.4 billion.^[49]
On July 13, 2011, affiliates of TPG Capital acquired PRIMEDIA for approximately $525 million, or $7.10 per share in cash.^[50] TPG and fellow private equity firm Apollo Global Management are set to IPO their stake in Norwegian Cruise Lines in 2013.^[51]
In July 2013, TPG announced it would buy global education publisher TSL Education from Charterhouse Group for a fee of around $600 million. ^[52]
The Financial Times reported in February 2014 that TPG co-founder David Bonderman was "contemplating" an initial public offering for the private equity group.^[53]
TPG and movie producer Robert Simonds, Jr., announced in March 2014 that they had entered a partnership with China's Hony Capital to produce as many as ten "star-driven" films a year, with mid-range budgets (on the order of $40 million per film).^[54]
In April 2014, it was announced that TPG had invested £200 million in Victoria Plumb after buying a majority stake. ^[55] ^[56]
In November 2014, Prezzo (group) agreed to a £303.7 million takeover by TPG.^[57]
The company is considered a newcomer to the real-estate investment arena. In the first half of 2014, it started to raise funds for a real-estate specific fund. It had a goal of $1.5 billion to $2 billion. By October 2015, the company had exceeded its goal, raising more than $2 billion. ^[58]

Newbridge Capital

In 1994, TPG, Blum Capital and ACON Investments created Newbridge Capital, a joint-venture to invest in emerging markets, particularly Asia and later Latin America. At its peak, Newbridge managed over $3.2 billion. Newbridge was headquartered alongside TPG in Fort Worth and San Francisco with investment offices across the Asia-Pacific region in Hong Kong, Melbourne, Mumbai, Seoul, Shanghai, Singapore, and Tokyo. In 1995, Newbridge also ventured into Latin America, raising a $300 million fund and then a follow up $150 million fund in 1996. After its debut funds in the mid-1990s, Newbridge did not continue to focus on Latin America.
Since its founding, Newbridge developed a specialization in five broad industry groups: financial services, technology and telecom, healthcare, consumer, and industrials. Newbridge was involved in a number of the largest and most notable private equity transactions in Asia including:

Shenzhen Development Bank - the first control purchase of a Chinese national bank by a foreign entity since 1949
Korea First Bank - the first foreign acquisition of a South Korean bank
Hanaro Telecom - a major Asian proxy contest, that was the largest at that time
Matrix Laboratories - the largest private equity transaction in the Indian pharmaceutical industry, to that point

In the early 2000s, TPG assumed full ownership and control over the Newbridge joint venture, renaming the firm TPG Newbridge. At the beginning of 2007, when the firm officially changed its name from Texas Pacific Group to TPG Capital, TPG Newbridge's Asian funds were also rebranded as the TPG Asia Funds.
TPG remained active in Asia in 2008. On August 4, TPG, along with Global Infrastructure Partners, offered to buy Asciano Limited for AUD 2.9 billion in an unsuccessful attempt to complete an unsolicited takeover. On October 31, 2008, TPG completed the purchase of a 35% interest in P.T. Bumi Resources, from its previous owner Bakrie & Brothers, Indonesia, for $1.3 billion.

Criticisms

Hellas Telecommunications (2015)

In 2006, during the Apax fraud, Nikesh Arora was placed by investors TPG and Apax on the board of WIND Hellas (formerly TIM Hellas).^[59] Under Arora's direction, €1.6 billion were embezzled from TIM Hellas by misuse of company debts, a ransack operation codenamed ‘Project Troy’ by the official liquidator.^[60] ^[61] TPG and Apax were condemned in 2014 by a NY court to repay $565 million to the private investors. ^[62] In 2014, the Luxembourg liquidator sued TPG and Apax for 1.3 billion corresponding to the amount not recovered from the Arora embezzlement.^[63] The Greek general prosecutor opened an investigation against TPG, Apax and all main implicated parties including Nikesh Arora under art.1608/1950 of the Greek criminal code for "Crimes against the people of Greece”.^[64]^[65] ^[66]
In the meantime, the Institute of Chartered Accountants in England and Wales reprimanded Ernst & Young (now EY) for its involvement in the Wind Hellas scandal reportedly being charged with signing off the big increase in debt and payments to TPG and Apax Partners in 2006-07, and of allegedly acting as an administrator when Hellas was put into liquidation.^[60] ^[61]^[63] ^[67]

Notable employees

Kevin Rollins - former President & CEO of Dell Computers
Bernard Attali, former chairman of Air France and brother of Jacques Attali
Vivek Paul, former Vice Chairman of Wipro Technologies and CEO of its global information technology, product engineering, and business process services segments
Mary Ma^[68] - Former CFO of Lenovo, and was listed in the top ten of the Fortune "50 Most Powerful Women" in 2005 and 2006
William Hawkins - President & CEO of Immucor and former CEO of Medtronic

References

Source: Preqin

"Contact TPG."

Cargill alum to lead $1B fund here. Minneapolis / St. Paul Business Journal, April 14, 2006

TPG Prepares To Launch Its Sixth Large Buyout Fund, Buyouts (magazine), December 3, 2007

Texas Pacific Group closes at half original target. [AltAssets, March 2002

TPG raises $1.2b for downstream deals. Private Equity Week, October 22, 2007

Little-known S.F. firm specializes in complex buyouts. San Francisco Chronicle, June 2, 2002

LUCENT TECHNOLOGIES AGREES TO SELL AT&T PARADYNE UNIT. New York Times, June 20, 1996

STEINHAUER, JENNIFER. "J. Crew Caught in Messy World of Finance as It Sells Majority Stake." New York Times, October 18, 1997

KAUFMAN, LESLIE and ATLAS, RIVA D. "In a Race to the Mall, J. Crew Has Lost Its Way." New York Times, April 28, 2002.

ROZHON, TRACIE. "New Life for a Stalwart Preppy: J. Crew's Sales Are Back." New York Times, December 9, 2004.

Norris, Floyd. "SHAKE-UP AT A HEALTH GIANT: THE RESCUERS; Oxford Investors Build In Some Insurance, in Case Things Don't Work Out." New York Times, February 25, 1998.

"COMPANY NEWS; PROFITS TRIPLE AT OXFORD; TEXAS PACIFIC BUYBACK SET." New York Times, October 26, 2000.

"COMPANY NEWS; MANAGEMENT-LED GROUP TO BUY PETCO FOR $505 MILLION." New York Times, May 18, 2000

"2 Equity Firms to Acquire Petco ." Bloomberg L.P., July 15, 2006.

Gemplus falls to the enemy within, December 1, 2002

"Bloomberg". Bloomberg.com.

U.S. Investors Agree to Buy Burger King From Diageo for $2.26 Billion. New York Times, July 26, 2002

A Lower Price Is Said to Revive Burger King Sale, New York Times, December 12, 2002

Grace Wong (May 12, 2006). "Burger King IPO set to fire up". CNN Money. Retrieved September 30, 2007.

SORKIN, ANDREW ROSS. "Sony-Led Group Makes a Late Bid to Wrest MGM From Time Warner." New York Times, September 14, 2004

"Capital Firms Agree to Buy SunGard Data in Cash Deal." Bloomberg L.P., March 29, 2005

Do Too Many Cooks Spoil the Takeover Deal?. New York Times, April 3, 2005

Texas Pacific founder to scale back involvement with firm, San Francisco Business Times, February 28, 2006

"Report: Texas Pacific eyeing Home Depot". Dallas Business Journal.

2 Equity Firms Set to Acquire Neiman Marcus. New York Times, May 2, 2005

Neiman Marcus in $5.1B buyout CNN Money, May 2, 2005

SORKIN, ANDREW ROSS and FLYNN, LAURIE J. "Blackstone Alliance to Buy Chip Maker for $17.6 Billion." New York Times, September 16, 2006

Sorkin, Andrew Ross. "Harrah’s Is Said to Be in Talks to Accept $16.7 Billion Buyout." New York Times, December 18, 2006. Purchase price includes purchase of the outstanding equity for $16.7 billion and assumption of $10.7 billion of outstanding debt.

"Harrah's Entertainment board agrees to $90 a share buyout bid", Las Vegas Sun, December 19, 2006.

Sorkin, Andrew Ross. "2 Firms Pay $4.3 Billion for Sabre." New York Times, December 12, 2006.

Univision to Be Acquired by Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group for $13.7 Billion Univision Press Release, June 27, 2006

Behind Buyout Surge, A Debt Market Booms. Wall Street Journal, June 26, 2007

"Univision sale approved, Abercrombie & Fitch to replace it on the S&P 500,"

http://hraunfoss.fcc.gov/edocs_public/attachmatch/FCC-07-185A1.pdf

"News Releases". corporate-ir.net.

"Investment Firms Pick Up Avaya For $8.2 Billion". InformationWeek.

de la MERCED, MICHAEL J. "Biomet Accepts Sweetened Takeover Offer." New York Times, June 8, 2007.

"K.K.R. Offer of $26 Billion Is Accepted by First Data." Reuters, April 3, 2007.

Kohlberg Kravis to Buy First Data for $29 Billion. NY Times, April 3, 2007

Tom Daykin. "Republic Airways to buy Midwest Airlines". jsonline.com.

Behind the Battle for Midwest Air. New York Times, September 28, 2007

HealthSouth To Sell Surgery Division To TPG - News - MSNBC.com

Source: Thomson Financial

Lonkevich, Dan and Klump, Edward. KKR, Texas Pacific Will Acquire TXU for $45 Billion Bloomberg, February 26, 2007.

"KKR, Texas Pacific-led group to buy TXU Corp". Reuters. February 26, 2007.

‘Sorry, Sir. Texas Pacific Group Isn’t Here Anymore’. Wall Street Journal, March 1, 2007

Morgenson, Gretchen (March 13, 2010). "Private Equity and Wind Hellas: A Tale of Debt". The New York Times.

Grocer, Stephen (June 11, 2010). "Deal Profile: TPG Agrees to Acquire Vertafore". The Wall Street Journal. Retrieved January 3, 2016.

PRIMEDIA INC. Acquired by TPG CAPITAL

Norwegian Cruise Line Sets Price Range for I.P.O.

Sebastian Sadr-Salek, Anjuli Davies and Claire Ruckin (July 8, 2013). "U.S. buyout firm TPG to buy TSL Education for $600 million". Reuters.

The Financial Times[1] by Anne-Sylvaine Chassany, February 25, 2014

The Hollywood Reporter[2] March 10, 2014

"Victoria Plumb set for £200 million boost as housing market picks up". Daily Mirror. Retrieved April 1, 2014.

Armstrong, Ashley (April 1, 2014). "Victoria Plumb sells stake to TPG". London: The Telegraph. Retrieved May 12, 2014.

Martin, Ben (November 7, 2014). "Hedge fund takes Prezzo position". London: The Telegraph. Retrieved November 14, 2014.

http://www.wsj.com/articles/tpg-raises-2-billion-in-real-estate-fund-1444172401

http://www.bloomberg.com/research/stocks/people/person.asp?personId=11341911&ticker=GOOG Nikesh Arora - Executive summary

http://www.economist.com/news/finance-and-economics/21654680-pressure-mounts-two-private-equity-giants-did-very-well-out-disastrous Another Greek Tragedy - The Economist

http://www.chadbourne.com/files/upload/Hellas_Adversary_Complaint.pdf United States Bankruptcy Court Southern District of New York

http://www.cnbc.com/id/102201516 Greek tragedy: Telecom focus of bloody PE fight

http://www.financialexpress.com/article/companies/greek-co-wants-damages-from-indian-origin-investor-and-softbank-vc-nikesh-arora/95853/ Greek company wants damages from Indian-origin investor and Softbank VC Nikesh Arora

https://medium.com/@DailyNews/nikesh-arora-vs-hellas-intervention-by-the-public-prosecutor-after-the-revelations-of-the-%CE%BD%CE%B5%CF%89%CE%BD-3c5703a1be47 Nikesh Arora VS Hellas: Intervention by the Public Prosecutor after the revelations of the “ΝΕΩΝ”

http://www.tanea.gr/news/economy/article/5252394/o-doyreios-ippos-twn-ksenwn-funds-kai-o-indos-megistanas/ «Σχέδιο Τροία» κατά ΤΙΜ: Ο δούρειος ίππος των ξένων funds και ο ινδός μεγιστάνας

http://www.ceelegalmatters.com/index.php/legal-analysis-white-collar-crime/item/2738-recent-developments-regarding-white-collar-crime-in-greece Recent Developments Regarding White Collar Crime in Greece

http://www.reuters.com/article/2015/06/16/ernst-young-hellas-fine-idUSL5N0Z242H20150616 EY fined for conflict of interest over Hellas

TPG hires Mary Ma for China push 07 Sep 2007

Texas Pacific Group Inc. - Company History. Funding Universe
Texas Pacific Goes Where Others Fear to Spend. New York Times, August 25, 2002
TPG Profile at Yahoo.com

Massive Mare Island warehouse fire at former Navy shipyard; no injuries

Popular Posts

Senate Announces “No Place Like Home” Initiative To Tackle Homelessness in California

California Senate Legislative Package to Prevent and Address Homelessness in our Local Communities

How Accenture supports PGE in transforming their business utilizing IBM's Maximo EAM

Incumbent Dan Helix has huge fundraising lead in Concord City Council race

Nice Digs

Living Large and Living Well

Barely Living and Hardly Well

TPG Capital

Contents

Private equity funds

History and notable investments

Founding

Texas Pacific Group in the late 1990s

Texas Pacific Group in the early 2000s

TPG and 2006–2007 buyout boom

TPG and the credit crisis

Post-recession activity

Newbridge Capital

Criticisms

Hellas Telecommunications (2015)

Notable employees

References

Anchor links for post titles

Popular Posts

Blog Archive

Labels

Recent Posts

Popular Posts

Labels

Recent Posts

Pages

Labels

Blog Archive

Recent Posts