In what will become a semi-regular feature on the PitchBook Blog, “This Week in History” will take a look at the private equity and venture capital financings, exits and fund closes that occurred this week in the past.
This week in history, April 21-25, features a few interesting items. Before Suddenlink Communications was acquired in late 2012 by BC Partners and CPP Investment Board, it received on April 25, 2006, one of the 50 largest PE growth/expansion rounds over the last decade, according to the PitchBook Platform. Some of the biggest names in finance pitched in for the $900 million round, including Goldman Sachs Capital Partners and Quadrangle Group.
Goldman Sachs also made big headlines this week in 2007, a year after the Suddenlink deal, when on April 23, it closed GS Capital Partners VI, at the time the largest private equity fund ever raised. Their reign at the top didn’t last long, as The Blackstone Group closed what is still the largest PE fund ever, Blackstone Capital Partners V, just four months later. GS Capital Partners VI’s $20.3 billion still stands as the second-largest fund in history.
Finally, in what is sure to be the first of numerous coincidences when investigating deals from the past, online social-stationary retailer Tiny Prints was both acquired (in 2011) and received its only venture capital round (a $59 million Series A financing in 2008) this same week in history. The company caught the interest of Shutterfly, which paid $333 million for Tiny Prints on April 25, 2011.
Check out the tables below for some of the largest PE and VC deals.