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...US institutional investors are selling more of their private equity holdings at a discount as they cut exposure to the illiquid asset class....
...The bid for the site from Blackstone underscores the intense interest among property investors and tech companies to invest in data centres....
...As company sales and public listings have dried up, firms have been forced to find more creative ways of returning money to investors....
...“I would always be cautious about any company that does not have its dividend covered,” said Nate Koppikar, a partner at hedge fund Orso Partners, which has bet against Blackstone shares....
...Recently, KKR renamed the asset stockpile “strategic holdings” and has begun telling shareholders it will turbocharge growth....
...His publicly traded holding company was targeted by a short seller and its shares plunged about two-thirds. The billionaire’s investment portfolio also struggled....
...Top of this list may be Vivendi, the billionaire Bolloré family’s holding company, which has voiced its opposition over the price KKR will pay....
...KKR was also holding talks with large corporations and other private equity buyers about potential asset sales, they said....
...Strong economic data in the US and mounting tensions in the Middle East have pushed back the date when the US Federal Reserve is expected to cut rates....
...“With buyouts, [we can] hunt for companies in the $5bn range . . . what you’ll see us doing . . . is start to do bigger deals and deploy more equity.”...
...Because a company can file bankruptcy in whatever district any one of its dormant shell company affiliates first files bankruptcy....
...The FT revealed last year that Lloyds held a guarantee in the holding companies controlling Very Group that was linked to the distressed debt behind the Telegraph newspaper group, which was then also owned...
...Much of his firepower derives from a humble source: a small oil refining and nitrogen fertiliser company in the US heartland....
...Institutional investors, especially in the US, have over-allocated to this asset class....
...TPG sold a controlling stake in the talent agency CAA to Artémis, the holding company of the Pinault family, at a $7bn valuation....
...Founded in 2001, Jagex has had several owners, including asset manager Macarthur Fortune Holding, its most recent before Carlyle....
...Take Calstrs, the $327bn US pension fund that is one of the world’s biggest backers of private equity....
...“Putting people on a board unnecessarily can harm a company. I don’t know why shareholders would take that risk,” he added....
...Schwarzman’s holdings in Blackstone have increased in value by about $12bn since the beginning of 2023, while Gray’s shares have gained more than $2bn, according to the Financial Times’ calculations....
...Blackstone has also recently moved to add to its own luxury retail holdings. It is in talks to buy a £230mn property on London’s New Bond Street....
..., acquiring businesses including the US solar group Savion and the Indian renewables platform Sprng....
...The valuation obtained is ever more remarkable when you consider that the £502mn Carlyle paid for Jagex (according to the holding company’s accounts) consisted primarily of £341mn for the company’s “brand...
...The company left its guidance for 2024 unchanged. Shares in the group were down about 7 per cent on Wednesday....
...Nonetheless, banks have quite a bit of room to make up, given they earned about $11bn on their US leveraged finance businesses in both 2023 and 2022....
...It would be watching the company’s performance and “focusing on its continued success”, it said....
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