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...The business was viewed as one of the bank’s most successful units, but took up too much capital and was jettisoned as part of a final restructuring plan....
...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...BDO last year took an alternative approach, opting to convert to an employee-owned corporation, funded by private debt....
...KKR’s funds plan to house assets moving off the balance sheets of corporations, banks and insurers looking to simplify their operations or fund stock buybacks....
...Antoine GaraWell, what happened was a lot of the people who were inside the banks or adjacent to the banks, they wound up building their own firms....
...turmoil surrounding the bank....
...On a conference call with analysts in January, Gray said Breit had “weathered the storm” in real estate markets, but he warned that Blackstone did not expect to see a “V-sharped recovery” in property values...
...Before long, large investment banks including Goldman Sachs, Credit Suisse, Citigroup, Morgan Stanley and Deutsche Bank were building their own dedicated investment teams....
...One sector in particular has become a hot new hunting ground: accountancy firms....
...“We would acknowledge that this is not going to be some sort of a V-shaped recovery. There are going to be plenty of troubled deals in the market,” added Gray....
...A consortium of investors led by Blackstone Group has won bidding for the largest tranche of the Federal Deposit Insurance Corporation’s auction of $33bn in loans absorbed from Signature Bank after its collapse...
...Among private equity groups, Carlyle has been one of the most resistant to pressure to exit its investments in oil and natural gas drillers....
...Rich pickings One of Mexico’s most powerful criminal groups runs call centres that offer to buy retirees’ vacation properties and then empty their bank accounts, The New York Times writes....
...Investment bank JPMorgan is advising on the deal and has invited bids, said people familiar with the process....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Antoine Gara Well, Ogunlesi has really charted maybe one of the most interesting careers in finance. So he was born in Nigeria....
...Trump’s tangled tower New York’s attorney-general could force former president and property developer Donald Trump to sell one of his best investments, the FT reports....
...One of the world’s largest investment groups has complained to the Federal Deposit Insurance Corporation over the way it handled the auction of $33.2bn in loans the US bank regulator absorbed from Signature...
...Investor belief that central banks are pausing interest rate increases has led to a revival of initial public offering activity, he added....
...But one person who is on the move is Hertz’s chief executive Stephen Scherr....
...Frasers’ claim went on to add that the bank made the collateral demand out of “snobbery” and had rejected the retailer as one of its senior bankers had “personal animus” towards Ashley....
...Elliott is best-known as an activist investor that has taken on large corporations and governments....
...But as DD’s Antoine Gara reports in this deep dive, the industry is dominated by a small group of dealmakers who cut their teeth competing on arcane deals in the US in the early and mid-2000s when the asset...
...Risky business The US is pressing Austria’s Raiffeisen Bank International, the biggest western bank in Russia, to drop plans to buy a €1.5bn stake from a Russian tycoon, Reuters writes....
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