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...By contrast, Breit struggled to cover its distribution with cash flow from operating activities, a metric that doesn’t include recurring property expenses like capital expenditure....
...Continuation funds can also be controversial with LPs, because they have to decide whether to lock up capital with a VC for another lengthy period or cash out potentially at a discount....
...“There are enough things in LPs’ portfolios that they can price at a smaller discount today and that makes them feel better,” Miller said....
...It is not clear how Concord will seek to deal with the existing management agreement. Concord has now secured backing from investors holding 31 per cent of the issued share capital of Hipgnosis....
...Blackstone already part owns Hipgnosis Song Management (HSM), the manager and investment adviser of Hipgnosis Songs Fund (HSF), although its new offer is separate to that holding....
...A month later, Grant Thornton US agreed to sell a 60 per cent stake to New Mountain Capital....
...Disney has also hired JPMorgan as an adviser in negotiations to buy the remaining stake of streaming service Hulu from rival Comcast....
...They’re trying to free up capital now, to be able to be ready to make some acquisitions of the banks that need help,” he said....
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...It’s amazing to think quite how recently private capital management was a pretty-much-nothing industry. Back in 2003, the entire sector’s AUM was less than $500bn....
“Does this seem like fair journalism to you?”
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
...It is now attempting to navigate the twists and turns towards retail capital. The latest effort is the semi-liquid buyout fund....
...One sign of this emerged on Monday, when FT calculations revealed that the leaders of entities such as Blackstone, KKR, Apollo Global, Ares Management and TPG enjoyed a more than $40bn rise in the value...
...“Firms desperately need capital to transform the business,” he said....
...“We intend to actively deploy this capital and our board and management team see compelling value in our shares,” chief financial officer John Redett said....
...Disney is facing proxy battles with Nelson Peltz’s Trian Partners and Blackwells Capital, which are seeking board seats and other changes aimed at boosting its share price....
...Blackwells Capital, the second activist, has put up its own slate of three directors for the board....
...“The declining cost of capital with rates coming down and spreads coming down for real estate borrowing is very helpful.” *This story has been changed to correct the percentage figure...
...Blackwells Capital, another activist, put three nominees forward, who were also denied in the vote....
...The owners and managers of the True Confidence, who purchased the vessel just days ago from US private equity group Oaktree Capital, gave details of the deaths and injuries in a statement on Thursday....
...That included loans associated with some marquee buyouts including Elliott Management’s takeover of technology business Citrix, Elon Musk’s purchase of social media company Twitter and Apollo’s acquisition...
...A resurgence in initial public offerings or sales would allow LPs to recoup their invested capital and recycle it....
...More recently, these pools of capital have even pulled back their commitments amid the drought in initial public offerings and M&A....
...Blackstone president Jonathan Gray told the Financial Times last May the world’s largest private capital group — which has $1tn of assets under management — could become a “valuable partner” to banks looking...
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