Hints and tips:
...In 2020, the bank lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance....
...Other private equity deals in the agency world included Silver Lake’s investment in Ari Emanuel’s William Morris in 2012 and EQT’s investment in United Talent Agency last year....
...UBS also sees some value in keeping parts of the now defunct Credit Suisse’s investment banking unit. “We assume [Klein] is cherry picking....
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...It advised talent agency William Morris Endeavor on the sale of a minority stake to private equity group Silver Lake in 2012 and the group’s acquisition of sports agency IMG the following year....
...Philip Morris International and Altria, which share rights to the Marlboro brand, trade at a blended multiple of 12 times next year’s earnings, while BAT is on just 7.5 times....
...Raine also advised both sides as Nassef Sawiris and Wesley Edens welcomed new investment from investment firm Atairos into V Sports, the owner of Aston Villa, just days before Ratcliffe struck his agreement...
...Additional reporting by Stephen Morris and George Hammond in San Francisco...
...“You’re going to see us do . . . a handful or two of large, really important investments a year and that’s it.”...
...Georg Schubiger, head of wealth management, and Christel Rendu de Lint, head of investments, will become co-CEO of the Swiss investment manager from January....
...But these days, Villa is valued at more than £500mn after Sawiris and Edens agreed the sale of a minority stake in their V Sports vehicle to US investment firm Atairos in December last year....
...Global investors look to domestic investors for the signal to validate the investment, and that local signal has simply flickered out.”...
...An aggressive dealmaker, he merged Endeavor with rival William Morris, acquired sports media group IMG and Ultimate Fighting Championship, along with about 20 more transactions....
...Wood remains Ark’s chief investment officer, as well as portfolio manager on the actively managed funds. In June, Sam Korus and Nicholas Grous were appointed associate portfolio managers....
...“People are worried across the board,” said Steve Kram, chief executive of investment group Content Partners, LLC, and former chief operating officer of William Morris Agency....
...Smoke signals Cigarette maker Philip Morris International’s quest to buy nicotine pouch maker Swedish Match has run into trouble with hedge funds in search of a bigger payday....
...With renewed scrutiny of Epstein’s crimes, financial institutions began to put new investments with Apollo on hold....
...Share your ideas with us at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...This exhibition at the V&A invites us into the opulent world of master goldsmith Carl Fabergé and his London clientele....
...Fortress Investment Group, which is owned by Japan’s SoftBank, had earlier bid 270p....
...Separately, the Takeover Panel announced on Monday an auction for the inhaler company Vectura, which tobacco group Philip Morris International and private equity firm Carlyle are vying for control of....
...Morrisons’ shareholders Silchester, Legal and General Investment Management, JO Hambro and M&G Investments had all voiced objections. They did not immediately provide comment on the higher bid....
...Orcel, the 57-year-old Italian former head of UBS’s investment bank, has become one of Europe’s best-known bankers after intense scrutiny of his pay during an ill-fated attempt to become chief executive...
...Such a deal to carve out a Greensill operating business would not include any investments related to Gupta, the people added....
...It was valued at $6.3bn in 2017, when it landed a $1bn investment from the Canada Pension Plan Investment Board and GIC, Singapore’s sovereign wealth fund....
International Edition