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Rating:Who is Madison Dearborn Partners? Not Rated 3.4 Email Routing List Email & Route  Print Print
Wednesday, June 20, 2007

Who is Madison Dearborn Partners?

Reported by Erin Kello

Madison Dearborn Partners, LLC the new owner of Nuveen Investments may not be a familiar name to many in the mutual fund industry. So who are they?

Founded in 1992 by alumns of First Chicago, MDP is a Chicago-based $14 billion private equity firm that specializes in management buyout and other private equity transactions across a broad spectrum of industries. Earlier this year it closed on a $6.5 billion fund.

Its portfolio includes stakes in: CapitalSource Inc., Eldorado Bancshares, HomeSide, Pax Holding Corporation, PayPal and PeopleFirst.

The Nuveen deal is one of two MDP is involved in today; It is also one of four private equity firms involved $5.03 billion buyout of satellite operator Intelsat Ltd.

On May 29, MDP bought out CDW Corporation, a provider of technology products and services to business, government and education customers, in a deal valued at approximately $7.3 billion.

Timothy Hurd
Madison Dearborn Partners
Managing Director
According to MDP's website, the company's MO is to invest in companies and in partnership with "outstanding management teams" to achieve significant long-term appreciation in equity value.

MDP generally seeks to invest $100 million to $600 million of equity capital in a single transaction.

When shopping for financial services companies, MDP looks for the following characteristics;

* Barriers to entry and inherent franchise value emanating from unique distribution capabilities, servicing capabilities, or industry-specific knowledge;
* Outstanding management;
* Aggressive utilization of technology;
* Favorable industry or demographic trends; and
* Conservative accounting and financing policies.

Recent acquisitions by MDP are -- CDW Corp., a computer retailer, in a deal that was announced at the end of May and VWR International, a laboratory supply company, in a deal that was announced in the beginning of May.

A representative for MDP was not immediately able to comment on the Nuveen deal.  

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