Hints and tips:
...Morningstar earlier this year estimated that Ark had wiped out about $14.3bn in wealth over the past decade, more than any other fund family....
...Schonfeld began life as a family office in 1988 with $400,000 that its eponymous founder Steven Schonfeld earned working as a stockbroker....
...The 10 investment banks and proprietary traders are investing a combined $172mn for a 26 per cent stake in Lutnick’s venture, called FMX. The investment will give FMX a valuation of $667mn....
...His investment nous won him admirers among Wall Street royalty including Oaktree Capital Management co-founder Howard Marks and Blackstone’s Stephen Schwarzman....
...If you look at Howard Marks’s investment philosophy for Oaktree, the first item for us is the primacy of risk control....
...The family lost control of the group after failing to repay bad debts of close to £1.2bn last year to Lloyds Banking Group....
...A new group including Mubadala, Michael Dell’s family office, Goldman Sachs Asset Management and Lexington Partners will also invest cash into Endeavor....
...Nicholas Bewes, aged 57, chief executive of a small third-generation family-owned property investment company, Howard Group, which is based in Cambridge in the UK, agrees that there is a distinction between...
...Macro hedge funds such as Brevan Howard, Rokos Capital and Caxton posted enormous gains in 2022, though performance was more muted last year....
...TPG sold a controlling stake in the talent agency CAA to Artémis, the holding company of the Pinault family, at a $7bn valuation....
...The remainder of the debt was covered by International Media Investments, the investment vehicle backed by Manchester City owner Sheikh Mansour bin Zayed Al Nahyan, which will swap into new debt behind the...
...“I extend my deepest condolences and those of the entire IMO family to the families of those who have lost their lives, and our thoughts are with those who have been injured,” he said in a statement....
...But subordinating investment policy to tax minimisation is a choice, not a necessity....
...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...
...The cuts largely related to non-investment roles in areas such as technology and back-office services, the person added....
...New York-based Schonfeld started as a family office in 1988 with $400,000 that founder Steven Schonfeld earned working as a stockbroker....
...Brevan Howard, another prominent global macro manager, also had a tough year in 2023....
...News round-up CVC expresses interest in EY’s Italian consulting arm (FT) Nordstrom family weighs taking retailer private (Wall Street Journal) Hedge fund Brevan Howard cuts 10% of staff amid poor performance...
...Chevedden’s Ford proposal called on the company to end its dual-share class structure that gives the Ford family voting control....
...Meanwhile, France’s Pinault family acquired talent agency CAA for $7bn. Analysts estimated the valuation at 13 times annual ebitda, higher than the figure for Endeavor....
...“Tiger Global is operating in-person out of our New York offices, whereas Scott and his family have made their home in Florida and want to stay there.”...
...“Jacob was truly a Renaissance man,” says Howard Marks, co-founder of $189bn investment powerhouse Oaktree Capital Management and a longtime friend. “He had a very active mind and great curiosity....
...The growing gap between Endeavor and the value of its assets was made even clearer following the acquisition of talent agency rival CAA by Artémis, the family holding company of French billionaire François-Henri...
...City veteran Gerry Grimstone, who stepped down as the UK’s investment minister last year, has joined Bain & Co as an adviser on a project advising Saudi Arabia’s investment ministry....
...Lawyering up In addition to his father’s media empire, Lachlan Murdoch also stands to inherit the barrage of legal proceedings hanging over the family business, the FT reports....
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