Hints and tips:
...The tender offer was also designed to enable investors to cash out....
...Carlyle sits on billions in cash and potential performance fees and its balance sheet carries low-cost debt, he said....
...Cleveland-Cliffs made an offer last week to buy US Steel for $10bn in cash and stock, including assumed debt....
...The new rules artificially inflate the cost of investment trusts, which are already factored into trusts’ share prices, said Ben Conway, head of fund management at Hawksmoor Investment Management....
...US private equity firms are rushing to take advantage of lower borrowing costs by loading debt on to their portfolio companies and using the cash to pay dividends to themselves and their investors....
...He presented a PowerPoint containing baby pictures of the firm’s three billionaire co-founders, David Rubenstein, William Conway and Daniel D’Aniello....
...Nedungadi was named chief in 2021, taking over day-to-day responsibilities of the firm from Brian Conway, who had led TA since 2014 and remains its chair....
...Its $10bn cash-and-stock offer, including assumed debt, was matched a day later by an all-cash offer from smaller rival Esmark....
...Declan Conway, a water and climate change researcher at the Grantham Research Institute in London, said that if the McKinsey analysis was redone today, “I suspect the messaging wouldn’t change very much”...
...Ron Conway, one of Silicon Valley’s best-known venture investors, described Lee’s death “an immense tragedy”. “We’ve lost a great innovator, intelligence, and spirit....
...Schwartz’s appointment had “taken away some uncertainty” around Carlyle’s private equity fundraising efforts and should have a “positive impact”, Conway said....
...William Conway, a co-founder of Carlyle, said in February he expected the hiring of Schwartz, the former president of Goldman Sachs, would help revive the firm’s fundraising efforts....
...Fundraising industry-wide has slowed as investors weigh their exposure to private markets, forcing Carlyle to seek an extension in raising cash for its newest buyout fund....
...Distributable earnings, a proxy for cash flows that include investment profits, were 63 cents per share, missing estimates by 4 cents....
...The group’s so-called distributable earnings, which include investment profits and are a measure analysts regard as a proxy for cash flows, were $433mn in the fourth quarter, or $1.01 per share, slightly...
...But as interest rates rise many of those investors are growing wary of locking up their cash in illiquid private markets, and some have hit or breached their maximum limits for the amount of cash they can...
...One source of firepower is the billions of dollars of cash sitting on Carlyle’s balance sheet, which Conway this week indicated could be used by Schwartz for acquisitions that might revive the firm’s fortunes...
...Distributable earnings, which count realised investment profits and are seen by analysts as a proxy for cash flows, were $644mn, or $1.42 per share, significantly beating estimates of analysts polled by...
...The group paid $183mn in cash to Varagon’s existing owners Aflac, Corebridge Financial, AIG and former senior executives at Varagon....
...As of October 19, Trump’s network of nine Pacs and aligned super Pacs has amassed about $110mn in cash on hand....
...David Rubenstein, Bill Conway and Daniel D’Aniello, the three billionaires who founded the company in 1987, are still involved in the business....
...the CEO title at US private equity firm Carlyle, a position that has sat empty since his predecessor, Kewsong Lee, lost a bitter power struggle with the group’s co-founders, David Rubenstein and William Conway...
...Of this, his annual salary was $275,000, plus a cash bonus of $5.5mn....
...As the weekend progressed, founders of small companies were frantically trying to find cash in order to pay staff the following week. Lay-offs looked inevitable without intervention....
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