Hints and tips:
...That compares to a yield of roughly 9.15 per cent on the average single B rated US corporate bond, ICE bond index data shows....
...GTCR declined to comment....
...It eclipses a $3.8bn loan Hellman & Friedman and Permira raised to fund their buyout of Zendesk in 2022....
...Even higher-quality companies are getting shut out, with single-B and single-B minus rated loan issuance in the US down more than 70 per cent from 2021 levels....
...Buyout firms have been hit particularly hard as the cost of the debt they use to fund their deals has increased significantly....
...Blackstone has agreed to pay 18.3 times the catalogue historical net publisher share, which is quite high by industry standards for a b-grade portfolio — but royalties etc are backdated to the start of the...
...Its ubiquity across the financial community made it the communications mode of choice for any large bank or fund participant. Either you were on Bloomberg, or you weren’t....
...Today, there are about 365,000 Bloombergs on the desks of investment bankers, bond traders, equity analysts, pension fund managers, sovereign wealth funds and central bank officials....
...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....
...The family holds 95 per cent of the class B voting shares that allow it to elect about 70 per cent of the board....
...“Dreams” was streamed more than 230m times in the fortnight after its TikTok renaissance, a 40-year-old hit becoming the sixth most popular song on Spotify, wedged between new tracks by Drake and Cardi B....
...Founders and early investors will retain non-transferable Class B shares holding nine votes apiece....
...KKR itself is aiming to raise about $12bn for its latest infrastructure fund, a jump from the $7.2bn value of its predecessor fund. Meanwhile, governments are promising huge rises in expenditure....
...And LPs are limited partners, the investors that pour money into private equity funds and expect a return that makes the lock-up period, which can be as much as seven years, worth their while....
...took a stake in ETK and became president of the company, he acted on his own behalf, not as a representative of any third party; viii) Petroleum LLP did not receive benefits from the pipeline project; ix...
...Who said the hedge fund industry doesn’t make people money any more?...
...And we’ll give the last word to James B Stewart, the man who wrote the must-read book on Milken — Den of Thieves. You can read his column on why Milken can’t rewrite history here....
...We expect global macro hedge funds to stay bearish on USTs for now. Anyway....
...(FT) The real M.B.Z Mohammed bin Zayed, the leader of the United Arab Emirates, lurks behind the scenes but is arguably one of the most powerful figures in the Arab world....
...Bjornar Tonhaugen, head of oil markets at Rystad Energy, expects demand to drop by 28m b/d this month; by 21m next month; and by 16m in June....
...The stock purchase has made Pershing one of the 50 largest holders of class B Berkshire shares, alongside the California State Teachers Retirement System pension fund and asset manager Northern Trust Global...
...Raising enough debt to fund a similar leveraged buyout of the $70bn Walgreens business presents a challenge that “would be overwhelming”, said David Norris, head of US credit at TwentyFour Asset Management...
...universe — to single-B plus....
...The firms will have equal stakes in the JV, which includes B&B Italia, Flos and Louis Poulsen, and has combined revenues of €500m....
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