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...Financial pressures on the company were exacerbated by the Covid-19 pandemic....
...The sector “has a great track record of organic growth, maybe two down years in 30 years, and the down years are hardly down”, said Blake Kleinman, partner at H&F....
...The lack of leverage is expected to offer financial flexibility for new growth investments....
...During the two deals, Dell and Silver Lake tangled with activist shareholders like Carl Icahn and resorted to heavy financial engineering....
...But, amid all of these financial gymnastics, Silver Lake and Michael Dell did not extract cash from the deal....
...Earlier this year, Durban told the Financial Times the private equity group had decided to focus its efforts on larger takeovers as public markets have become dislocated....
...Firms including EQT, Cinven and Silver Lake have in the past few months either taken private or considered buying back public companies they owned or in which they held a large minority stake....
...It was indeed a great year, with US executives last year managing to notch up at least one [expletive] on a record 186 transcripts collected by AlphaSense....
..., according to Financial Times calculations....
...Here’s a telling Barclays chart from a great post Alex wrote last week on the ∾ cough ∾ curiously divergent marking of some BDC loans....
...In today’s newsletter: DD chats with Silver Lake’s Egon Durban Private credit pounces on loan deals Silver Lake prepares for big ‘all-in’ bets US private equity group Silver Lake is up to big things....
...Belgian Prime Minister Alexander De Croo told the Financial Times that the EU must wean itself off Russian nuclear fuel “as fast as possible” to stop Moscow using revenues to fund its war chest....
...In his absence, we have a world-class line-up of Financial Times journos, including Katie Martin on the bull case for dividends....
...“If you see us invest right now, by definition it will be a big all-in bet,” Durban told the Financial Times in a rare media interview....
...At best, it generates “proto-picks”: companies with promising sets of financial characteristics that, with further work, might turn into stock picks....
...The group’s shareholders should gear up for a fight with Silver Lake and Emanuel, Lex argues....
...“It’s great for Jane,” the banker added. Citi’s banking division reported revenues of $4.6bn for 2023, down 15 per cent from a year earlier....
...However, as Agrawal notes, for the Mangs these investments are as much strategic as financial. This financial flexing seems to be rattling some old-school VCs....
...lakes in Michigan; and Duluth, Minnesota – Our travel team’s 43 holidays to take in 2024: https://on.ft.com/3RFoOwY – Another great recent travel piece: ‘My weekend as a monk: a Scottish spiritual retreat...
...Separately Teddy Desloge has been named chief financial officer of Blackstone’s secured lending fund among other new appointments....
...“They carry slogans used by banks before the global financial crisis, they were used in advertising, even in the Financial Times!” (“Times are changing; we’re ready,” says one.)...
...But it is a potentially cataclysmic one, given the role of Treasuries in the global financial system....
...This is a great time for private credit. This is not a quarter that’s a great time for private credit, this is a secular change....
...There are about 8,500 disused metal mines in Great Britain, according to the British Geological Survey’s database....
...The fact that iPhone users must download apps solely from Apple’s store, while 90 per cent of apps on Android phones are downloaded through Google Play, has given both companies great power....
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