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...BDO last year took an alternative approach, opting to convert to an employee-owned corporation, funded by private debt....
...BlackRock was interested in a tie-up with Warburg Pincus because its chief executive Larry Fink had identified alternative investments as a strategic growth area....
...The 10 investment banks and proprietary traders are investing a combined $172mn for a 26 per cent stake in Lutnick’s venture, called FMX. The investment will give FMX a valuation of $667mn....
...The price is a 55 per cent premium to where Endeavor’s stock was trading in late October, when the sports and entertainment business led by Ari Emanuel said it was exploring strategic alternatives....
...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....
...Wells Fargo has hired Derek Van Zandt from Citigroup to lead media and telecommunications banking, Bloomberg reported....
...Or at least, they love to hate them; Citigroup is currently in the middle of a big project to remove layers of management, and Goldman Sachs recently had quite a nasty internal conflict partly driven by...
...Baker Tilly secured a $1bn investment led by H&F in February....
...Gleacher Shacklock, a boutique investment bank, has appointed Anthony Hartley as a partner to build out its healthcare business. He was previously at Citigroup....
...Citigroup last month won approval from Chinese regulators to launch its own wholly owned mainland investment banking unit....
...The government is in talks with Stowell about dropping her amendment if it comes up with an alternative proposal in time. Downing Street and Stowell declined to comment....
...Ardonagh is owned by Madison Dearborn and HPS Investment Partners....
...Just last week, Enviva, once one of the world’s largest wood pellet producers, filed for bankruptcy in the US (wood pellets are marketed as a low-carbon alternative to fossil fuels)....
...The largest alternative investment groups such as Blackstone, Apollo and KKR have created “retail” funds that are easy for investors to get into, making brokerage offerings increasingly bland....
...Citigroup, which is undergoing a restructuring, saw its corporate and investment bank fees jump about 50 per cent from a year ago....
...Some investment bankers are touting a tie-up between Ardian and Tikehau Capital, a €42bn competitor in the alternatives sphere....
...Of course, lending to companies is unfamiliar terrain for banks, so most are wisely looking for more experienced partners in the “alternative investment industry”, which have broad and deep contacts across...
...While the cost of a Bloomberg terminal or FactSet subscription remains prohibitive for many ordinary investors, there are many free or cheap alternatives that offer similar if lighter data and data-crunching...
...The remainder of the debt was covered by International Media Investments, the investment vehicle backed by Manchester City owner Sheikh Mansour bin Zayed Al Nahyan, which will swap into new debt behind the...
...Last month, Citigroup said it was partnering with an outside alternative investment manager, LuminArx, to provide “innovative leverage solutions” to its $2bn loan fund....
...“The private capital markets have clearly evolved significantly in the last decade, which gives entrepreneurs and founders a genuine alternative to the public markets,” said Beahon....
...One way or another Citigroup’s fate, as well as Fraser’s, will be settled over the next 18-24 months....
...Endeavor said in a statement late on Wednesday that it is considering “strategic alternatives”. Its largest shareholder, Silver Lake, announced it plans to lead a buyout....
...“You’re going to see us do . . . a handful or two of large, really important investments a year and that’s it.”...
...And one smart listen: The FT’s US banking correspondent Stephen Gandel and US banking editor Joshua Franklin discuss the challenge ahead for Citigroup chief Jane Fraser as she embarks on a bold turnaround...
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