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...Gordon is one of the leaders of its North American PE unit, while Marshall is co-head of its European buyout business....
...PE portfolio company....
...Elsewhere on Tuesday… — Paying in sweat (The Fence) — A temperature check on DM labor markets (Goldman Sachs) — Private equity intensifies rollups of HVAC installers (The American Prospect) — After the...
...Chinese companies aren’t competing for as many American companies given rising tensions between Washington and Beijing, while high US interest rates have led to private equity firms pulling back on deals...
...“I enjoy reading the FT every day even if it doesn’t tell me what its owner is likely to do next.”...
...insurance company Axa in a deal valuing the company at just over €500mn....
...However, ultimately PE depends on making high returns in the market. And ultimately, PE firms are a little bit unsure of the returns that they can make out of these companies yet....
...Of course, as Swensen himself said in his 2009 Lunch with the FT: “Never underestimate the gullibility of large pools of money.” Further reading:— Is private equity actually worth it?...
...The $1.6tn fund’s chief executive told the FT it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in...
...Further reading: – Is private equity worth it? (FTAV)...
...Further reading:— Arbitration ruling, September 2023— Delaware Court of Chancery confirmation of arbitration, February 2024— “Raw Deal: Seller Ordered to Pay Buyer Over Twice the Purchase Price in Post-Closing...
...The biggest casualty of the shift in approach has been the strong focus on building expertise in greener forms of energy, espoused by previous chief executives of Shell and BP....
...Biden on Wednesday visited US Steel’s headquarters in Pittsburgh, and in front of cameras, had a clear message: US Steel should remain “American-owned, American-operated by American union steelworkers —...
...One of the advantages of reading the printed version of a newspaper is to understand the interplay of closely-placed headlines on related subjects....
...Companies: Carnival Cruise Line will report earnings before the start of trading while pharmaceutical group Moderna holds its annual investor meeting....
...Companies buy companies when they’re expensive, not when they’re cheap. That’s been the rule of M&A since forever, though in the past couple of years the trend has broken down a bit....
...We’re also reading . . . Identity geopolitics: Debates comparing the US’s treatment of Ukraine and Gaza miss a wider point about selective compassion, writes Gideon Rachman....
...Clips from KGWN, Ludlow Music and The Richmond Organisation For further reading: Battle for the American West Seven states, 3,000 miles: a trip across the US energy divide Wyoming’s Carbon Valley aims...
...I was reading the Conservative party’s 1997 manifesto the other day, because that’s the kind of hoopy frood I am. It’s not a document lacking in ideas....
...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....
...We’ve mixed up bits of these tweets with extracts from American Psycho to make a shamelessly clickbait FT Alphaville quiz, where your task is to tell which is which....
...PE groups are struggling to sell these companies ever since high interest rates pushed up financing costs....
...The likely sale of Paramount Global marks it out as the streaming wars’ first big casualty, says the FT editorial board....
...The stock’s forward PE of 124, falling to 78 by 2026, is clearly a bit nuts. It’s twice as rich as sort-of peers like Cadence Design Systems and Synopsis....
...Policymakers and regulators have started paying more attention to the particular risks presented by the flood of PE investment into life insurance....
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