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...The US-based group has raised $20.5bn for its seventh private equity fund....
...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...
...Adam Neumann has made a fresh push to regain control of WeWork even as the co-working group races to raise hundreds of millions of dollars to emerge from bankruptcy and avoid a sale, according to two people...
...The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...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...
...After joining as an equity derivatives research analyst in 1998, Berlinski climbed to roles that included chief operating officer of global equities....
...The bloated share counts push up trading volumes but can weigh heavily on stock prices, particularly for lossmaking groups....
...The US-based group will make its investment from a $24.4bn fund raised in 2021 that is one of the largest funds dedicated to private equity deals....
...The financial technology group has also developed a suite of tools helping customers with revenue, tax and billing....
...Skadden has hired Adam Cohen and Mark Chorazak as co-heads of the financial institutions regulatory group....
...His investment vehicle was ultimately paid $578mn for part of its equity holdings in WeWork....
...A separate group of hedge funds will put in the remaining $113mn of the new money investment, in exchange for 20 per cent of new WeWork....
...On average, a high-quality company targeted in a merger of equals lags behind its industry group by 20 per cent over the subsequent two years on a relative basis....
...Other large private equity groups including KKR, Blackstone and Brookfield have also prioritised originating low risk corporate debts as they grow their insurance-related assets....
...Private equity’s M&A tactics are proving unusually testing in Spain....
...Citadel Securities is one of the world’s biggest high-speed trading firms, competing with rivals like Susquehanna, Jane Street and Virtu Financial and estimated it was involved in nearly one in every four US equities...
...Mubadala holds a minority equity interest in US technology private equity group Silver Lake and has created large lending and investment partnerships with Apollo Global....
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...If the deal goes through, it would mark the latest high-profile take-private of a UK-listed company by an overseas private equity group....
...IPOs with no majority seller strongly underperformed their industry-group averages....
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...They certainly should after the entertainment group announced a long-expected go-private sale to its existing majority shareholders this week. The deal values Endeavor’s equity at $13bn....
...It concluded that Apollo’s limited partnership agreements, with pensions and sovereign wealth groups, stated that such travel and dining expenses should be borne by Apollo, not the funds and its investors...
...That gives it an in-the-money option to acquire 15 per cent of the new group, which could be very valuable if the telecoms cycle ever turns. Another win for private equity; not so much for London....
...Skydance, along with private equity groups RedBird and KKR, is planning to buy National Amusements, which holds almost 80 per cent of Paramount’s class A voting shares, for $2bn....
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