McAfee (MCFE) began trading on the Nasdaq on Thur 22 Oct 20

•  The company, based in San Jose, California, was acquired by Intel Corp. in a 2010 deal. In 2016, Intel announced that it had signed an agreement to transfer a 51% stake in McAfee to the investment firm TPG for $1.1 billion. The transaction valued the spun-off company at $4.2 billion, including debt.

• Current backers listed in McAfee’s prospectus include TPG, Intel, Singapore’s sovereign wealth fund GIC Pte and the private equity firm Thoma Bravo.

• McAfee (MCFE) prices 37 mln share IPO at $20.00 per share, inside the expected range of $19-22

(Bloomberg) -- McAfee Corp. and its shareholders raised $740 million in an initial public offering priced within a targeted range as the cybersecurity software provider returns to the stock market.

The company and some of its investors sold 37 million shares for $20 apiece Wednesday, according to a statement. McAfee had marketed 31 million shares for $19 to $22, while its shareholders offered 6 million shares.

McAfee is valued in the IPO at about $8.6 billion based on the outstanding shares listed in its prospectus.

Loss to Profit

For the 26 weeks ended June 27, McAfee had net income of $31 million on revenue of $1.4 billion, according to its filings. That compared with a loss of $146 million on revenue of $1.3 billion for the comparable period last year.

The offering is being led by Morgan Stanley, Goldman Sachs Group Inc., TPG Capital BD, Bank of America Corp. and Citigroup Inc. McAfee’s shares are expected to begin trading Thursday on the Nasdaq Global Select market under the symbol MCFE.

The company was founded in 1987 by John McAfee. Since selling to Intel, McAfee has gone through a series of personal legal challenges.

He was a person of interest in a 2012 murder in Belize, though not charged with a crime. Last year, he was detained in the Dominican Republic for entering the country with a cache of firearms and ammunition.

The firearms charges were announced just hours after the U.S. Securities and Exchange Commission sued McAfee for promoting the sale of cryptocurrencies without disclosing that he was being paid to do so. This month, he was arrested on tax-evasion charges for allegedly failing to report that income.

Playa Hotels & Resorts (PLYA) began trading on Nasdaq on 8 May 2017

Playa Hotels & Resorts began trading on the Nasdaq on Monday, May 8, after the all-inclusive resorts operator completed its merger with Pace Holdings Corp., a division of private equity company TPG.

• Playa CEO and chairman Bruce Wardinski and his management team will continue to run the combined company. Pace CEO Karl Peterson and former Sabre Corp. CEO Tom Klein have been appointed to Playa's board of directors.
• On March 1, Pace shareholders approved the transaction, which makes Playa the only publicly traded all-inclusive resorts company.
• Playa's portfolio consists of 13 resorts across Mexico, the Dominican Republic and Jamaica, including properties operating under Hyatt's Ziva and Zilara brands.

Ares Management files for $100 million IPO

• The Ares IPO is the latest in a boom that began in 2007 when the Blackstone Group (BX) raised a staggering $4 billion in its offering. Since then, other heavy hitters including Kohlberg Kravis Roberts (KKR),  Apollo Management (APO), and the Carlyle Group (CG) have also gone public.
• Apollo shares have jumped 70% since going public in 2011, while KKR has soared 130% since its 2010 IPO. Carlyle, which went public in 2012, is up more than 60% from its offering price.

Ares Management filed to raise $100 million in the largest initial public offering of an alternative-asset manager in almost two years.

The figure is a placeholder used to calculate fees and may change. Los Angeles-based Ares oversees $74 billion in credit and private equity assets, and plans to use the proceeds from the IPO to repay debt, according to yesterday’s filing.

Michael Arougheti, president of private equity firm Ares Management

At the $100 million amount, the IPO would be the biggest of a private-equity firm since Carlyle Group LP (CG) raised $671 million in May 2012. Stock prices of Ares’ private-equity peers are surging: Blackstone Group LP (BX) reached a record high this month, while Apollo Global Management LLC has more than doubled over the last two years.

BX monthly chart

Two other alternative-asset management firms are also weighing IPOs. TPG Capital, which has about $59 billion in assets, would consider going public, the firm’s founding partner David Bonderman said in February. Barry Sternlicht, the chairman and chief executive officer of Starwood Capital Group LLC, has spoken with banks as he prepares to sell shares of the property-investment firm, a person familiar with the matter said Feb. 18.

Founder Salaries

Ares oversees $10 billion of private equity, $9 billion in real estate and $55 billion in direct lending and tradable credit, the filing showed. The company posted $478.7 million in fee revenue last year, an increase of 43 percent from the prior year, the filing showed.

Ares paid co-founders Tony Ressler, Michael Arougheti, David Kaplan and Bennett Rosenthal salaries of $1.8 million each last year, according to the filing. The firm didn’t disclose the carried interest, or share of investment profit, allocated to the executives or the units they will own after the IPO.

Following the offering, Ares will be considered a partnership limiting common stockholders’ voting rights and their ability to remove or elect directors of the general partnership, the filing showed.

JPMorgan Chase & Co. and Bank of America Corp. are managing the sale, the document shows. Ares listed 13 banks in its prospectus, including Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co. The company intends to apply to list its shares on the New York Stock Exchange under the symbol ARES, the filing shows.

Travelocity parent Sabre files for an IPO

(In January 2015, Travelocity was sold by Sabre to Expedia, Inc. for $280 million.)

• The Texas-based company employs about 10,000 people in 60 countries
• Company has recorded net losses every year since 2008, according to SEC filing

Sabre Corp., the provider of travel data and reservation software whose businesses include Travelocity, filed to raise $100 million in an initial public offering.

The figure is a placeholder used to calculate fees and may change. The company, backed by TPG Capital and Silver Lake Management LLC, plans to use the funds from the IPO to repay debt. Morgan Stanley, Goldman Sachs Group Inc., Bank of America Corp., and Deutsche Bank AG are managing the offering.

Sabre’s technology processes more than $100 billion of estimated travel spending each year, according to a regulatory filing today. The Southlake, Texas-based company’s customers include airlines, hotel providers, cruise lines and tour vendors, which contributed to its $2.3 billion in revenue for the nine months through September 2013.

The former unit of AMR Corp. was traded on the New York Stock Exchange from 1996 until it was taken private a decade later by TPG and Silver Lake for about $5 billion, including debt.

In the first nine months of 2013, the company’s travel-network segment contributed to 57 percent of revenue, while its airline and hospitality solutions made up 22 percent. Travelocity produced 21 percent of sales over the period, the filing shows.