Hints and tips:
...US billionaire Bill Ackman’s hedge fund Pershing Square rejoined the top 20 hedge funds after leaving the rankings in 2015. It was up 27 per cent in 2023, making $3.5bn....
...Additionally, limited partnership agreements seemed to indicate that Apollo should be paying expenses even as the funds and LPs were getting the bills at the time....
...It eclipses a $3.8bn loan Hellman & Friedman and Permira raised to fund their buyout of Zendesk in 2022....
...GTCR declined to comment....
...About a fifth of the loans in the BCRED CLO can be rated triple-C or below by Moody’s, far higher than the 7.5 per cent threshold for broadly syndicated CLOs....
...“The main question from LPs is why China right now, and it’s a really hard question to answer,” said a Beijing-based investor, whose fund has been unable to raise new capital....
...Buyout firms have been hit particularly hard as the cost of the debt they use to fund their deals has increased significantly....
...FIS employed a similar strategy in July, selling a majority stake in Worldpay to US buyout firm GTCR while keeping a 45 per cent stake in the business valued at $18.5bn....
...Like other LPs, CIC receives a trickle of quarterly financial reporting from fund managers on their portfolios....
...Just $3bn of risky triple-C rated US bonds and loans have been issued into the broad market this year, down 78 per cent from last year, according to data from PitchBook LCD and Refinitiv....
..., defying malaise (The Information) China’s billionaires back Xi Jinping’s plan to restore economy (FT) Investor group nears $125mn deal for CoinDesk (Wall Street Journal)...
...Schulze conceded that mobilising the needed funds was not a quick job, and that Global Gateway’s large infrastructure projects “take time to plan and implement”....
...Due diligence gets complicated in China Xi Jinping’s number two Li Qiang has been on a charm offensive this year to persuade foreign investors to strike deals in China....
...FTAV would assume that as the flagship property of Bernstein (the black book was started by its founder Sanford C. Bernstein)....
...The Political Thought of Xi Jinping by Steve Tsang and Olivia Cheung (OUP) With “Xi Jinping Thought” now the official dogma of the Chinese Communist party, this book by UK-based experts gives a detailed...
...Bernstein is currently owned by US asset manager AllianceBernstein, but is one of the biggest and most pedigreed of the standalone(ish) investment research outfits, having been founded by Sanford C....
...BREIT is now a central plank in Blackstone’s attempt to broaden out from selling its funds to big institutions like sovereign wealth funds and pension plans to “ordinary” (ish) investors....
...As investors manage exposure to traditional private equity funds, it has spotted an opportunity it can’t pass up....
Low interest rates made investing in song catalogues a hot trend on Wall Street. As interest rates rise, what happens now?
...Chicago private equity firm GTCR has promoted Luke Marker, Stephen Master, and KJ McConnell from managing director to principal....
...Beijing is separately supplying Pakistan’s military with eight submarines and advanced J-10 C fighter jets....
...They led a record explosion in offshore investment before being brought back down to earth when president Xi Jinping and the ruling Chinese Communist party in late 2016 cracked down on a years-long debt-fuelled...
...Exponent Founders Capital I, LP . . . SH Fund, LP . . . Curated [chef recommends] . . . Race Capital II, LP . . . Lifelike Capital [ridiculously minimalist website award winner] . . . ....
...Xi’s plan for economic independence Under Xi Jinping — who appears all but certain to secure another term in power next month — China is seeking to become a state-led and self-sufficient techno-superpower...
...One year on, fund managers are still adjusting to a brave new world....
International Edition