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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Gordon is one of the leaders of its North American PE unit, while Marshall is co-head of its European buyout business....
...Oaktree, the credit investor co-founded by Howard Marks and Bruce Karsh, has been on a fundraising push as it looks to compete with larger rivals....
...While Chinese manufacturers want to replace some western components with domestically made alternatives, analysts said it would take years for them do so in a way that met international commercial aviation...
...That’s when he got a call from James Robinson III, who was then the chief executive of American Express and the biggest power broker on Wall Street....
...Last month, Wegovy received FDA approval to help reduce heart attack and stroke risk in patients with cardiovascular disease, enabling it to be covered by insurance for the more than 50mn Americans on Medicare...
...According to the Health Transformation Alliance, a co-operative of American employers seeking cheaper healthcare, the use of anti-obesity drugs among its members was 64 per cent higher in 2023 than in 2022...
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...Big private equity-cum-asset managers buy insurance companies (see also: Apollo/Athene, Brookfield/American Equity) not to cross-sell, but to gain a source of stable capital....
...He points to the use of co-pilot systems to help reduce mundane tasks in financial services as in other areas....
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...They are even allowed to sell their French wines direct to American consumers....
...Blackstone merged its credit and insurance investment operations in September in preparation for a push into asset-backed lending markets, Gray and co-founder Stephen Schwarzman have told shareholders....
...Whatever alternative the party rustles up instead may be unpopular or unworkable or both....
...The American Cleaning Institute, a US lobbying group that represents BASF, Clorox and other companies, blasted the New York legislation....
...Peter Manley will specialise on insurance, and was previously at Talcott and JPMorgan. Mark Karasik will focus on asset and wealth managers, and comes from Moelis, DD is first to report....
...“Building this alternative supply chain for electric vehicles is a very, very heavy lift that’s going to require a lot of legal expertise to implement,” says Craig Glidden, general counsel at GM....
...The legislative dodge undercuts the law’s intent to bolster North American EV manufacturing while upholding its climate change goals by giving consumers more choices to go electric....
...In the interim, returnless refunds have become an ever more tempting alternative for American companies....
...The answer starts with the dumping of UK equities by UK pensions and insurance companies....
...Firstly, approximately 30% of the Global and North American totals are made up of ‘dry powder’, i.e. undrawn capital commitments....
...The Singapore-headquartered company has pitched the UK as an alternative destination if it is unable to list in the US, according to two investors in the company....
...Only a concerted, co-ordinated effort from all the countries along a migrant’s route can adequately manage this challenge....
...British American Tobacco shares have fallen by a quarter over the past year as it grapples with the uncertain long-term future of its traditional cigarette business and investors push for the return of share...
...This article is part of FT Wealth, a section providing in-depth coverage of philanthropy, entrepreneurs, family offices, as well as alternative and impact investment...
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