Hints and tips:
...Apollo Global Management improperly agreed to pay $570mn to cover the tax bills of its top executives as part of a shake-up aimed at distancing the private equity firm from its scandal-plagued founder Leon...
...Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management company expenses...
...Apollo told him: “Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management...
...That’s more than $1tn of notional short exposure to Treasury futures for hedge funds, with the mirror image being a very long asset management industry....
...Well, not Bill Gates per se, but his family office, Cascade. And not trash in the metaphorical sense of very speculative assets but actual, honest-to-God trash. Or trash management at least....
...About 75 per cent of Apollo’s assets under management are in private credit....
...The sums are listed as “receivables from the manager”....
...In those transactions, a pool of assets — such as mortgages, credit card receivables or auto loans — are packaged together, with the interest payments funding new slices of debt that are sold on to investors...
...Whichever way, revenue is booked as receivables and squared off against payables, but no money ever has to change hands....
...to the end of the company life of SVF2 LLC....
...Fellow Tiger cub Lone Pine’s Cypress hedge fund has lost 27 per cent this year and its Cascade long-only fund is down 32.5 per cent....
...In 1995, Marks set up Oaktree Capital Management with TCW colleague and former lawyer Bruce Karsh....
...Regulators are also scrutinising the insurance that the lender has said is in place for its receivables....
...The soured wagers made by Bill Hwang’s family office have triggered significant losses at Credit Suisse and Nomura, underscoring how these tools can cause a chain reaction that cascades across financial...
...Laurene Powell Jobs, the widow of late Apple co-founder Steve Jobs, has also organised her “social change organisation” Emerson Collective as an LLC....
...Eventually, the OAG notes, the group ended up being banked by a subsidiary of a New York-based entity named Noble Markets LLC....
...Sothic Capital, the company’s second-biggest shareholder with 10.9 per cent, has said it will back management at the AGM....
...OneMain increased its assets rapidly last year, with quarter-end receivables rising from $13.2bn in March to a projected $14.8bn in December....
...An earlier version of this story said Elliott Management had made those comments....
...Michael Larson is one of the most powerful men in US wealth management you have never heard of....
...It has provoked complaints within Sika’s management as well as from shareholders....
...Strong cash flows have been supported by management’s efforts to refinance borrowings at ever lower interest rates....
...Cumulatively between 2013 and 2014, accounts payable management generated $2.4bn of cash while the company only tied up $400m in receivables and inventory....
...While on the receivables front: Gotham’s perspective: 2011-2013 accounts receivable are between 86%-231% of revenue, while deferred revenue only 1%-2% of revenue....
...On Wednesday, expectations that Mr Icahn would join dissidents such as Southeastern Asset Management, Dell’s biggest outside shareholder, in resisting the current buyout plan lifted the company’s shares...
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