private equity fund

(FINANCE) business entity formed to pool money provided by investors in order to buy majority stakes in existing companies. A common practice is to then "take the company private," so that it no longer has shares trading on the stock market. The company is then restructured, so that it has entirely different management practices, or a different business strategy. Afterward, the PE fund will most likely re-sell the company on the stock market in a sponsored IPO.

Private equity funds are usually limited liability partnerships (LLPs), which gives them special privileges of nondisclosure; most are organized in the State of Delaware. PEF's have sponsors, or "principals," who are responsible for organizing the fund and recruiting other investors.

Among the best-known PE funds are Blackstone Group*, Kohlberg Kravis Roberts (KKR)*, Goldman Sachs Capital Partners*, Carlyle Group, Permira, Apollo Management, Providence Equity, TPG Capital, Warburg Pincus, and Cerberus. Companies marked with an asterisk (*) are publically listed corporations; most PE funds are pivately managed. The selection above includes the largest ones by capital under management.

The private equity fund first appeared in the 1970's as a result of changes to ERISA. Institutional investors, usually pension funds, could be legal partners in an LLP; they also required a place to park assets with very high rates of return.

In the USA, PE funds have long been sinecures for the most powerful political dynasties: the Rockefellers, the Romneys, the Bushes, and others.

by Abu Yahya September 1, 2010

Equipto

A rapper from San Francisco. Part of the rap group Bored Stiff.

Equipto: frisco eskimo

by tech09 December 15, 2008

hotdog equilibrium

n. The point at which the number of hotdogs you have is equal to the number of hotdog buns that you have.

There are ten hotdogs in a package, but only eight hotdog buns in a package. As a result, 32 hotdogs must be consumed before hotdog equilibrium is reached.

by Robert Story January 16, 2006

heavy equipment operator

An unusually well-hung man.

Percy eyed the leatherman hungrily; the size of his bulge showed that he was a heavy equipment operator, but he also looked like rough trade, and Percy hated visible bruising.

by Niemand of Chaos March 29, 2005

sexual equinox

It's the point in your life at which your age matches your number of sexual partners

Dude I just had an amazing weekend.

Why? What happened?

I hit my sexual equinox.

Bro, that's amazing, especially at 45.

by Barguments December 23, 2015

Equine Necrobeastiality

To perform sexual intercourse with a dead horse.

This was practice was common among cowboys and indians alike but is thought to have originated on the Stepps of Northern Asia by the Mongolians who's affection for horses is legendary.

I banged that dead horse like a cheap screen door and she would have loved it if she were not dead as a doornail.

by Haywood Jablowme July 16, 2004

Chin Dick Equillibrium

That's the phenomenon that occurs when you see a girl so fine, your jaw drops towards the ground and is interrupted by the upward motion of your massive erection. These 2 forces meet along your midsection creating a equal balance of opposing forces hindering the further movement of one another. Thus known as The Chin Dick Equilibrium

I experienced the chin dick equillibrium when I saw your wife.

by Whiskey Kilo 57 June 18, 2014