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...The Capital One deal will relegate Jamie Dimon’s bank to second place....
...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...
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...The market maker has been expanding into new markets where it sees opportunities to compete with banks and other dominant players....
...KPMG sold the insolvency and restructuring business to private equity group HIG Capital in 2021....
...As opposed to shareholder-owned banks, where excess capital is often returned to investors, mutuals use profits to reinvest in the business or benefit customers....
...The original Credit Suisse deal with Apollo led to the alternative investment manager taking on one of the Swiss bank’s most profitable divisions, but one that required a lot of capital....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...Capital One, known in America for its “What’s in your wallet?” advertising slogan delivered by celebrities such as Samuel L Jackson and Jennifer Garner, is the 12th-biggest US bank by assets....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...He was a day-one investor in venture capital giant Sequoia Capital, as well as other leading private capital groups including Benchmark Capital and Hillhouse Investments....
...“Firms desperately need capital to transform the business,” he said....
...The Palmer Square Capital BDC is the first of a bunch of BDC IPOs in the pipeline, helped by the ravenous demand for non-bank “private credit” that Alphaville has discussed ad nauseam....
...The risk in that mezzanine category of capital is no longer at the banks. It’s diffused in the market, which is good....
...The increase in deals has been partly spurred by an anticipation of rate cuts from central banks, which investors think could come as early as June....
...“As we’ve turned the year you see banks being more aggressive,” said Chris Bonner, who heads leveraged finance capital markets for Goldman Sachs....
...Still, though, the bank’s new credit rating, two notches below investment-grade, includes the likes of AT&T and Walgreens. It isn’t yet obvious this is a bank failure waiting to happen. Disagree?...
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
...Millennium’s investment and the fact that Taula is seeking to launch with up to $5bn of capital were previously reported by industry information service With Intelligence....
...Among other multi-manager funds, Eisler Capital, which has $4bn in assets, gained 9.8 per cent last year, according to a person familiar with the matter....
...“Banks with higher capital have higher lending growth,” the BIS study concluded....
...Even the regional banks (Regions, Zions, Fifth Third), which scare everyone to death, are not all that cheap relative to growth....
...ISS backed the rest of the bank’s proposals for this year. It supported the pay plan last year....
...Polish central bank chief Adam Glapiński told the FT he was seeking a truce with Prime Minister Donald Tusk after an increasingly bitter feud....
...The Swiss central bank recently called on regulators to review UBS’s capital requirements in light of its increased “systemic importance”....
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