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...growth rate of 18 per cent across the top 25, according to Accounting Today....
...Nimmo said Interpath was looking at opportunities to expand into continental Europe and the US, which could include further acquisitions....
...Raine — which has about 25 partners and managing directors, with total staff of about 175 — also played its part in a series of deals that formed Endeavor. It also has an investing arm....
...The lenders are increasingly confident they can edge out investment banks including JPMorgan Chase and Goldman Sachs in a deal to fund Carlyle’s acquisition of a 50 per cent stake in healthcare analytics...
...The split failed to boost Endeavor’s share value, which fell about 25 per cent between its listing in April 2021 and last October....
...Meanwhile, GP Strategies revenue fell 2 per cent on a constant currency basis. The positive news is that GP Strategies’ margins are improving as it gets integrated into the group....
...A burst of dealmaking in 2022, when three of the top-25 US accounting firms took private equity cash, has reignited this year....
...These include boots brand Dr Martens, whose shares are down almost 70 per cent since Permira listed it in January 2021; chemicals firm Azelis, which has shed 25 per cent of its value since EQT brought it...
...Pressure on yields has also been exacerbated by a dearth of big mergers and acquisitions since the Fed began raising rates....
...Willkie Farr & Gallagher elected 25 new partners, effective January 2024....
...Companies rated single-B and below have $200bn in debt due in 2024-25 and about $1.1tn in 2024-28, and some dealmakers believe a wave of bankruptcies and firms turning over their investments to their lenders...
...News round-up Arm shares jump by 25% on first day of trading (FT) BP chair rules himself out as next chief executive (FT) Hipgnosis sells $465mn of music to strengthen financial position (FT) Abcam founder...
...VinFast listed via a special purpose acquisition company — a so-called blank cheque vehicle, which raises funds and then looks for something to buy....
...A boom in mergers and acquisitions that drove deal advisory work has also abated as interest rates have climbed....
...Doyle Queally will also move to a business development role in the GP stakes unit. Blackstone declined to comment....
...The top 25 largest competitors have captured more than a third of the $506bn of new capital allocated PE so far this year....
...The loan will pay roughly 7.25 percentage points above the benchmark interest rate and was offered at a slight discount to par....
...A $1bn of Athene’s own equity stands up the acquisition and writing of $12bn of annuities....
...News round-up Private equity groups sell stakes at discount on expectations valuations will stay low (FT) Patrick Drahi’s Altice lifts stake in BT to almost 25% (FT) GAM fund managers publicly back Liontrust...
...But it needs to sell shares to reduce leverage and to use as a currency for future acquisitions....
...Two other large private equity buyouts were announced this week: the acquisition of another software business, Cvent, for $4.6bn and the $8.1bn purchase of chemical company Univar....
...This gives the entrepreneur, who still owns about 25 per cent of the company, the power to veto any takeover deals....
...The Fed has severely limited the kinds of acquisitions or mergers that once were so common among Wall Street firms, except apparently during exceptional circumstances....
...Icahn’s comments come ahead of the Fed’s rate-setting meeting next week, with economists actively debating whether it will raise interest rates by 0.25 percentage points or take a pause following the SVB...
...Commended Sidley Austin O: 7; L: 7; I: 8; Total: 22The firm advised special purpose acquisition company Hong Kong Acquisition Corporation in its $128.2mn initial offering and listing on Hong Kong’s stock...
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