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...Grant Thornton is the seventh-largest US accounting firm by revenue and the deal with New Mountain represents the largest private equity investment in the accounting profession, coming hot on the heels of...
...The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...Advocates of private equity say it can be used to boost growth and introduce a more compelling incentive structure for partners and staff....
...That is due not only to the greater number of retail investors trading the stocks, but also to the growing popularity of sometimes-controversial equity fundraisings that can flood the market with new shares...
...After joining as an equity derivatives research analyst in 1998, Berlinski climbed to roles that included chief operating officer of global equities....
...A person familiar with its deal said that the two private equity firms would take an equity stake of about $1bn for just over 50 per cent of the firm, with more than $900mn coming from H&F....
...KPMG sold the insolvency and restructuring business to private equity group HIG Capital in 2021....
...It also seeded Clipway, a specialist that buys second-hand investor stakes in private equity funds, or secondaries, to build a presence in that fast-growing market....
...[Enlarge] Further reading:— Alert: Alphaville LLC issues new research report on Duchy of Cornwall (FTAV)— Greenland: Alphaville put on its sellside hat for the deal of the century (FTAV)— Alphaville LLC...
...Citadel Securities is one of the world’s biggest high-speed trading firms, competing with rivals like Susquehanna, Jane Street and Virtu Financial and estimated it was involved in nearly one in every four US equities...
...Private equity firms must get into the weeds of a business. Hedge funds prefer spreadsheet calculations that they can paste into letters and PowerPoint slides....
...Such private investments in public equity — or PIPE — deals are relatively common in the US, offering private equity houses a downside-protected route into a company’s share capital....
...“It creates an equity culture so that partners are focused on how to grow the equity value of the business and not just their own individual book of business.”...
...But the Apollo case shows that in private equity, monitoring and enforcing contract terms is not so straightforward. sujeet.indap@ft.com...
...The firm also named Chris Gordon and Robin Marshall as the heads of its global private equity business....
...The deal values Endeavor’s equity at $13bn. But the $27.50 a share deal price is just 15 per cent above its April 2021 initial public offering price....
...Yes, dividend culture has declined in the US, but it is still, by some distance, the world’s most vibrant equity market. That’s the second pushback: why are you complaining about the US growth market?...
The value is out there
...Emanuel will roll his equity holdings into the privatisation alongside other Endeavor executives....
A ripple; not a wave
Paul Weightman cut his teeth persuading players to join a breakaway Australian rugby league in the 1990s
One of the world’s richest men discloses his latest sales as part of pre-planned disposal
...Scott Shleifer, the head of Tiger’s $30bn-plus private equity business who was instrumental in the firm’s growth, announced late last year he would step down from his role at the hedge fund....
Social media platform’s valuation is expected to have tumbled from $10bn in 2021
...“We’ve only seen the beginning, clearly there will be more,” the head of equity capital markets at one large European private equity firm said....
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