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...It has increased its lending to private equity firms, helping finance their leveraged buyouts, as it has sought to take advantage of rising volatility on Wall Street....
...Grant Thornton is the seventh-largest US accounting firm by revenue and the deal with New Mountain represents the largest private equity investment in the accounting profession, coming hot on the heels of...
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...longtime former partners of the hedge fund and which owned a small stake in the club before the sale....
...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...A person familiar with its deal said that the two private equity firms would take an equity stake of about $1bn for just over 50 per cent of the firm, with more than $900mn coming from H&F....
...Grant Thornton is the seventh-largest accounting firm in the US with $2.4bn in annual revenue. The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...It has about 300 staff globally and trades a variety of strategies in bonds, equities and commodities markets....
...Private equity firms must get into the weeds of a business. Hedge funds prefer spreadsheet calculations that they can paste into letters and PowerPoint slides....
...sell a majority stake to private equity investors....
...That makes it easier for them to invest in assets that are difficult to sell in a hurry, such as property or private equity....
...As stock markets bask in the sunshine of all-time highs, now seems like a great time for private equity firms to get moving to unload some of their $3tn global stockpile of assets....
...In 2017, Best joined Elliott as the hedge fund sought to build out a private equity strategy....
...In 2021, CVC sold a stake in itself to US investment firm Blue Owl in a deal valuing the business at €15bn....
...Take Calstrs, the $327bn US pension fund that is one of the world’s biggest backers of private equity....
...The US accounting firm Baker Tilly has agreed to sell a majority stake to the investment groups Hellman & Friedman and Valeas, marking the largest private equity deal to date in the sector....
...from the three firms in its network that had taken private equity money....
...However, successfully securing $100mn is one way to get the biggest sceptics to at least take the venture seriously. Can news and hedge fund-styled trades mix?...
...Hedge fund Muddy Waters on Wednesday revealed a bet against a publicly listed real estate investment trust managed by private equity giant Blackstone....
...CVC in September bought Dutch infrastructure fund DIF Capital Partners, having acquired Glendower Capital, which invests in deals where private equity firms sell companies to themselves, in 2021....
...The group has expanded its business recently after acquiring private credit firm Iron Park as well as a stake in a company that buys second-hand stakes in private equity funds....
...After leaving Goldman Sachs, he worked at hedge funds the Children’s Investment Fund and Theleme Partners....
...Princeton gets burnt by private equity For many years, investing in private equity was a sure way for university endowments to make money....
...The bank’s Petershill Partners private equity unit on Tuesday agreed to buy more than 20 per cent of Kennedy Lewis, valuing the firm at more than $1bn, according to two people with knowledge of the matter...
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