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...The private arm of Ariel Investments, one of the largest black-owned asset managers in the US, has bought a majority stake in a video communications provider for deaf consumers for $1.3bn, in the first of...
...Buyout group Permira took a majority stake last August in Reorg which valued the distressed debt and bankruptcy information provider at about $1.3bn....
...Asset managers such as Blue Owl, Sixth Street and HPS Investment Management have been competing with banks to lend to larger and larger businesses....
...The Serta case had been closely followed on Wall Street as a series of distressed companies in recent years had raised fresh capital and refinanced debt in deals where lenders in the same class of debt competed...
...The transaction was the single largest sale of such distressed assets in India....
...“Apollo was drunk on the Manheim index,” said one rival distressed debt investor, referring to the benchmark of used car prices that had driven the fortunes of both Hertz and Carvana in 2021....
...Apollo Global snapped up $1.1bn of assets from UK pension funds as the US-based private capital group took advantage of a crisis triggered by the UK’s disastrous “mini” Budget....
...Black proposed “alternative assets”, which could be anything really: office towers, the debts of distressed borrowers, even entire companies....
...Francisco Partners has hired Ashley Evans as a partner focusing on software investments. She was a managing director at Carlyle Group....
...The private equity group of former Barclays chief executive Bob Diamond has struck a deal with Qatar to fund a new distressed asset vehicle....
...The weighted average return for the entire hedge fund sector for the month of May was negative 1.1 per cent, according to internal analysis by Citco, the leading hedge fund administrator, which serves about...
...Blackstone acquired debt manager GSO in 2008, seeding its expansion into credit and insurance-based investments, which now comprise 28 per cent of the group’s $940bn in assets....
...Rowan helped form Athene over a decade ago to acquire distressed insurance assets for Apollo to manage. Athene, which went public in 2016, also counted Apollo as a minority shareholder....
...Strategic Value Partners, an investment group focused on the debt of distressed companies, has raised a $1.6bn “dislocation fund” to take advantage of opportunities thrown up by the coronavirus crisis, as...
...That leaves shareholders banking on buyout groups significantly increasing the asset base on which they can charge those 1.5-2 per cent fees — by raising bigger funds and buying other asset managers....
...It had also been a player in such distressed assets as retailer J Crew. The firm’s soon-to-be-shuttered hedge fund is a traditional “evergreen” vehicle....
...Some Jones Day partners have claimed billing rates of up to $1,450 per hour on the restructuring. And from last month, senior partners can bill as much as $1,850 per hour, court documents show....
...Warburg Pincus is launching an asset management company in China to target distressed opportunities across the country’s heavily indebted real estate sector....
...The extra funds have catapulted its overall assets under management to $17.5bn....
...Forbes now values the Bucks at $1.6bn....
...There are thousands of firms and Citadel only accounts for roughly 1 per cent of the industry’s total assets under management....
...The deal helped convince investors to back Apollo’s core investment funds, while the hardball tactics the company employed in its dealings with delinquent debtors made it one of the most feared distressed...
...Five hundred and twenty funds are now targeting a combined $292bn, money they hope to lend out to companies and invest in distressed deals, according to Preqin and FT research....
...(The Ringer) News round-up Petrol station tycoons are preferred bidders for Asda (FT) Devon agrees to buy rival shale producer WPX (FT + Lex) ArcelorMittal to sell US steel assets for $1.4bn (FT + Lex...
...If you wondered how the fallout from this had impacted its shareholder Solus Alternative Asset Management, one of the best-known specialists in distressed investments, the much-followed weekly HSBC hedge...
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