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...Fortress, Charlesbank and Clearlake will form a steering committee to form a new board of Learfield, whose clients include university teams such as the Texas Longhorns and Alabama Crimson Tide, which squared...
...But the highly concentrated portfolio lost 23 per cent of its value in 2021 and a further 67 per cent in 2022, hit hard when the US Federal Reserve raised interest rates to a 40-year high to curb soaring...
...Its portfolio of private company bets also was marked down. Tiger’s long positions gained about 50 per cent in 2023, but its overall portfolio only rose about half that much....
...But it is uncommon for a portfolio manager to take a big team of investment professionals with them, as Megia has done....
...“You could argue that, since shorting is such a challenging sub-strategy, keeping things long-biased and having a concentrated portfolio of high-quality positions has been the way to go,” Amiee said....
...Is the resulting long-short portfolio one we would actually like to hold with our own money? Of course not!...
...Private equity firms still own large stakes in dozens of former portfolio companies whose shares are languishing on the public markets....
...Renamed GV, it now boasts more than 400 companies in its portfolio and has some $8bn in assets under management....
...However, Shah added, the company would “have its work cut out from establishing multilevel distribution channels, after-market service support and an EV portfolio priced in the sweet spot of $10,000”....
...They warned that the loans put the broader portfolio at risk and the borrowing costs could eventually hamper returns for the entire fund....
...Private equity conflict Private equity firms are increasingly providing debt financing to companies they own, making them both owner and lender to businesses in their portfolios....
...Blackstone took control of the trust in 2013 and two years later dramatically expanded it with the purchase of a $4.6bn portfolio of commercial mortgage loans from GE Capital....
...Last month, Warburg seeded a new insurance group called Prismic that will use it to manage a portfolio of private equity investments. Warburg is also undergoing succession planning....
...The value of that portfolio was marked down by nearly 20 per cent last year....
...But a sudden rise in interest rates beginning in 2022 left Tiger badly exposed to plunging valuations and holding a bloated portfolio of private investments with limited paths to exit....
...This means private equity firms are essentially shuffling leverage from a single portfolio company to an entire fund....
...These include so-called net asset value financing, which involves a buyout firm borrowing against a portfolio of assets....
...As a result, this portion of the fund’s portfolio has been written down to zero....
...Citadel chomps through portfolio managers like they’re popcorn, charges investors for almost all its expenses (from salaries and Bloomberg terminals to canteen food and flights) and takes 20 per cent of...
...“After a period of under-allocation, institutions and professional investors are increasingly seeking greater control by adding more customised emerging market exposures to their portfolios,” said Matthews...
...Their diversified portfolios and ability to slash or raise their level of risk quickly gave them a key advantage during the pandemic when markets went into a tailspin....
...“The existing portfolio managers at Schonfeld are probably fine with a tie-up,” said one top industry insider. “What’s the alternative, get fired soon and then get a job at Millennium anyway?”...
...Vingroup, Vietnam’s biggest conglomerate, has a wide portfolio of real estate, retail, technology and healthcare businesses....
...The Other Bets portfolio had a loss of $813mn in the quarter, versus a $1.34bn loss a year earlier....
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