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...Blue Skye secured a stake of just over 4 per cent, a management fee and a share of the potential profits from a future sale....
...In 2021, Blue Owl’s Dyal Capital unit bought a stake in a deal that valued CVC at €15bn....
...There’s a tipping point beyond which the dash to cash becomes self-reinforcing....
...Some existing shareholders will sell stock and one backer, Blue Owl, will increase its stake....
...The two teams have something in common beyond the blue shirts. Both are owned by US institutional investors....
...The group was last valued at around €15bn when it sold a minority stake to Blue Owl in 2021.Originally spun out from Citi’s London office around three decades ago, CVC has also expanded beyond buyouts into...
...Global occupancy rose 20 basis points to 62 per cent, hamstrung by a fall in the Americas....
...Stefanie Drews, president of Japan’s Nikko Asset Management, has never had a go at karaoke....
...What drives listed buyout groups “is AUM [assets under management] — it’s not entrepreneurial”, one of the people said....
...Prosecutors have made the point that even if stolen property is recovered and valuable, that does not make SBF any less of a thief....
...But much of it is so-called “wellness-washing” — where perks, such as mindfulness sessions, serve as a distraction from high workloads, poor management and other structural problems....
...This outperformance has continued this year as the blue-chip benchmark has hit a series of record highs....
...And this leads to the final point about tactics. It was apparent from the so-called “early look” and “pilot-fishing” meetings that the CVC IPO was going to be a blowout....
...CVC can also point to a step up in its size. It bought infrastructure manager DIF last year....
...Do you see reasons for optimism in the UK asset management industry?...
...Costs remain stubbornly high, the share price has fallen by a third and underperformed the FTSE 350 asset managers’ benchmark since Bird’s appointment, and the group has twice been ejected from the blue-chip...
...“I want to thank our shareholders for their trust and confidence in our board and management,” Iger said....
...Others, such as Goldman Sachs and Morgan Stanley, have relied on their wealth and asset management arms....
...She noted that should asset managers increase their expense ratios to offset the new charges, “every additional basis point is a competitive disadvantage”....
...“But that’s not really the point, the point is how much independence is there in the thought process [behind prosecutions].”...
...One question is what defence plan the management and board will come up with to unlock value on their own terms (you can read some of Lex’s thoughts here)....
...Others question whether it is Abrdn’s management that is itself the problem....
...The pink line is quarterly variation, while the blue line is a slower-moving average....
...The S&P 500 index of blue-chip companies is up more than 9 per cent since the start of the year....
...Case in point: Donald Mackenzie. He’s one of the buyout industry’s best-known names and founded CVC in 1993 before stepping back in February ahead of the IPO....
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