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...In its financial filings, Breit warned that if it is unable to generate enough cash flow from operations to fully fund the distribution, the payout may be made through additional borrowings, asset sales...
...“There are enough things in LPs’ portfolios that they can price at a smaller discount today and that makes them feel better,” Miller said....
...Dell’s family office is chaired by Gregg Lemkau, one of the bank’s former top dealmakers who left in 2020 to work with Dell with the mandate to supercharge the investment firm set up by the billionaire businessman...
...In an interview with the FT, Nuttall and Bae said they were seeing an opening of financial markets that will make it easier to exit assets....
...It doesn’t happen overnight,” Jonathan Gray, president of Blackstone, told the Financial Times in an interview....
...But, amid all of these financial gymnastics, Silver Lake and Michael Dell did not extract cash from the deal....
Small investors may find it hard to commit money for the traditional decade or so
...By contrast, many other businesses inside Icahn’s empire, which span automotive services, real estate and even sausage packaging, have struggled to generate meaningful earnings....
...Still, big financial services deals are going to bring scrutiny, and the likes of Senator Elizabeth Warren have already called for regulators to block the merger....
...“[In] financial services, the record is particularly poor, as scaling typically requires hiring a lot of people, which erodes culture and can lead to excess risk taking,” he told analysts....
...TPG has invested in partnerships such as talent agency Creative Artists Agency and registered investment adviser LPL Financial in recent years, and last year it made an unsuccessful pitch to buy into in...
...Peltz is seeking board seats for himself and former Disney chief financial officer Jay Rasulo....
...“Once companies, especially financial services companies, get to the $50bn market cap, their stock performance suffers,” Nuttall said. “Investor returns become more anaemic. Their growth slows.”...
...The second key point is that the sector’s leaders need to learn from financial history about what not to do when faced with protest....
About $10bn of loans have been refinanced in public markets as conditions improve due to rate cuts being on the horizon
...Is the financial titan at risk of getting burnt?...
...Private equity group Carlyle and Abu Dhabi investment group IMI have agreed a fresh debt funding package for the Barclay family’s Very Group, the Liverpool-based retail and financial services group....
...“We really see real estate bottoming from a valuation standpoint,” Gray told the Financial Times last month....
...The new financial benchmarks signal rising optimism at the investment group after a period of stagnation and management turmoil....
...But Blackstone said that rallying financial markets would finally pave the way for IPOs, M&A and cash-outs in 2024. Blackstone’s marked returns by asset class also proved interesting....
...Sunak’s background in the financial sector means he is seen by some business executives as more of a known quantity than his predecessors, many of whom have limited private sector experience....
...The Financial Times reported last month that Blackstone has built a $560mn liability to the US as a result of its return promise after the fund lost value last year....
“Does this seem like fair journalism to you?”
...A resurgence in initial public offerings or sales would allow LPs to recoup their invested capital and recycle it....
...Joseph Baratta, the head of Blackstone’s private equity unit, and Michael Chae, its chief financial officer, each received about $50mn in 2023, with nearly half coming from dividends....
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