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...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....
...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....
...The answer starts with the dumping of UK equities by UK pensions and insurance companies....
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
...Private equity boss boosts holding The debate around private equity’s performance in a higher interest rate environment continues....
...Co. Smith & Nephew Associated Co’s. Standard Chartered Bank Sun Alliance & London Insurance (RSA Insurance) Tesco Unilever Whitbread & Co....
...“It’s everyone from insurance companies, [to] sophisticated family offices and even sovereign wealth funds.”...
...Michael Wise of the South Carolina insurance regulator said he was aware that his Bermudian counterparts were addressing issues at 777 Re, and that the state continued to “co-ordinate our efforts as necessary...
...Scott Nuttall, co-chief executive of KKR, in an interview with the Financial Times rejected the notion that the group was forced to buy its remaining stake in Global Atlantic as its value has crept higher...
...But at Latham’s offices, Harvey Schwartz, a former Goldman Sachs banker who took the helm of the private equity firm a year ago, and two of its three billionaire co-founders, David Rubenstein and Daniel...
..., talent agencies and insurance brokerages....
...So comparing a US-tilted private equity industry to a broad global equity portfolio after a period of staggering outperformance of American assets is unfair....
...Last year, the firm committed to offering equity-sharing programmes to all employees in the takeover deals coming from its $19bn North American private equity fund and in all future funds in the region....
...The numbers, revealed in Bain & Co’s annual private equity report, show how rapidly the industry has grown over the past decade, as well as the challenges it faces from higher interest rates that have increased...
...To do this, I looked at two time-slices of Federal Deposit Insurance Corporation data, from early 2003 and late 2023, using a data collection tool from BankRegData....
...Schwarzman’s near-$900mn haul came mostly from almost $780mn in dividend payments because of his ownership of nearly 20 per cent of the private equity group he co-founded....
...of Athene, Apollo’s life insurance and annuities subsidiary....
...SSG’s co-investors include a who’s who of American billionaires, from New York Mets owner Steve Cohen to Atlanta Falcons owner Arthur Blank....
...Rubenstein, a native of Baltimore, is one of the pioneers of the $4tn private equity industry, having co-founded Carlyle Group in 1987 alongside William Conway and Daniel D’Aniello....
...The new data does not diminish the exceptionalism of postwar American equity performance but suggests it could be an exceptional episode....
...But it’s not all bad news for private equity. The lack of deals and an avalanche of money that has poured into credit markets is beginning to relieve headaches across the private equity world....
...Brandon Hall, former FMA co-head, will become deputy chief operating officer....
...Chen Long, co-founder of research firm Plenum, said offering potential support to Vanke would be tricky for the government because other developers could question why they did not receive similar treatment...
...The asset manager kept a portion of the debt for itself and Athene, its insurance arm, before selling the rest on to other investors and insurers....
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