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...Private equity portfolio companies can be particularly exposed to interest rate rises because of buyout firms’ reliance on debt to buy businesses....
...Higher interest rates have undermined the value of private equity portfolios as investors have flocked to fixed-income assets with improved yields, contributing to the secondary market discounts....
...If it pursues more of this expensive, collateralised funding, SBB may have to raise equity from its residential portfolio, worth SKr29bn (€2.5bn), most likely by a private sale....
...Banks provide financing for deals as well as arrange loan and bond offerings for portfolio companies owned by private equity groups to refinance debt, which generate lucrative fee streams....
...“You eliminate, for the most part, really large drawdowns in the portfolio.”...
...BlackRock’s US Equity Factor Rotation ETF (DYNF) is another to be swept up by the model portfolio tide....
...Passive investors whose ethos is to try to take very long-term views on their portfolio construction face some hard choices....
...In a speech on Monday, the Bank of England’s Nat Benjamin reminded us that 2.2mn people in the UK work directly for private equity portfolio companies....
...A global private equity or debt portfolio should be very closely correlated with a global public equity or debt portfolio....
...If the drawdown fund or portfolio sells across both of the investment classes every month, you’re always selling equities and bonds to make the income payments....
...But its private equity and venture capital bets are now proving to be a sore spot in the Ivy League university’s portfolio....
...The writer is European portfolio strategist at Goldman Sachs After a decade of stunning performance, outshining Europe and the rest of the world, the US equity market trades on a price/earnings ratio of...
...“But equities are getting crushed.” Microsoft, Alphabet and Meta all report results for the first quarter next week, while Nvidia’s results are due in late May....
...Private equity groups generally own portfolio companies for three to five years, though in some cases it can be longer. “Half of that $3.2tn should be in the window of being sold,” MacArthur said....
...Yves Choueifaty, founder of French investment house Tobam and a true believer in the power of portfolio diversification, said the degree of market concentration embedded in these stocks is unhealthy....
...Concord will provide the majority of the equity financing, with a minority of equity as well as debt from asset manager Apollo....
...(Ethan Wu) The UK equity discount, redux Yesterday I wrote about the UK equity discount and whether it really exists....
...At the same time, it is pulling back from investing in stock markets, with its allocation to equities set to fall from 42 per cent to 37 per cent of its portfolio....
...“The thing that gets me excited about UK equities is just the amazing value that’s on offer within the market”, said Alex Wright, a portfolio manager at Fidelity International....
...Large equity contributions can prove challenging for many reasons. Funds would like to have a diverse group of holdings. That becomes harder when certain deals take up most of the portfolio....
...BCRED plans to hold the equity of the CLO, which will help avoid potential conflicts over how it decides what loans remain in BCRED and what go into the new CLO, two people said....
...following the 2016 vote to leave the EU weighed on the market … “The thing that gets me excited about UK equities is just the amazing value that’s on offer within the market”, said Alex Wright, a portfolio...
...Hipgnosis’ music portfolio includes artists such as the Red Hot Chili Peppers and Shakira....
...Raffaele Savi, Robert Fisher and Anna Hawley are the portfolio managers of the global high income equity strategy, while the US-focused vehicle is managed by Savi, Fisher and Travis Cooke....
...That leads to a more significant price gain,” said Tuorto, whose portfolio is dominated by stocks including Shake Shack and Wingstop, as well as retailers....
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