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Lithuanian tech company nearly doubles valuation in one year to $3bn after deal with private equity group
...Ark’s US ETFs garnered net inflows of more than $7.1bn between the start of 2021 and the end of 2023. But almost all of those inflows came in an early 2021 flurry, Morningstar Direct data shows....
...While the market maker’s net trading revenue in the second quarter fell 29 per cent compared with a year ago, it still paid out dividends of $500mn to shareholders including Griffin....
...On a net basis after fees, that falls to 24 per cent, annualised. The divergence shows just how much difference fees and costs can make to returns....
...UBS said the new arrangement with Apollo — which included the transfer of $8bn of senior secured financing facilities — would result in a $300mn net gain for the bank....
...Attorney-general Merrick Garland noted that Apple’s net income — which was $97bn in 2023 — “exceeds the GDP of more than 100 countries”, in large part because of the success of the iPhone....
...Cannae’s own net asset value per share of $2.4bn, or $34 per share, is well above its trading price of $22 per share....
...The LCH list calculates which managers in the $4tn hedge fund industry are most successful based on the cumulative dollar profits they have made for investors, net of fees, since inception....
...But the £1bn it is shelling out for Spirent means the combined group would be saddled with a net debt to ebitda ratio of about 7 times, Lex calculates. That is where Silver Lake comes in....
...In fact, by net assets it seems to be as large as the top 15. Here’s a telling Barclays chart from a great post Alex wrote last week on the ∾ cough ∾ curiously divergent marking of some BDC loans....
...At the end of January, total net inflows across all products were just below $1.5bn, with bitcoin trading at about $43,000, slightly down from $44,000 at the start of the year....
...Amazon said in February that Bezos — who is among the world’s richest people with a net worth of $190bn, according to Forbes — planned to sell up to 50mn Amazon shares via broker Morgan Stanley by the end...
...Private equity dealmakers have cast a wide net across white-collar professional partnerships in recent years....
...Microsoft similarly decided its servers would last for six years, not four, which increased its net income by $3bn last year....
...How much this increases and how AI growth affects the global race to net zero will depend on many factors.” Google declined to comment....
...Banks could be at risk too; lower rates would pinch net interest margins, already at record lows, without doing much to curb the pipeline of bad property loans....
...The other factor is that fund flows into direct lending have been stable and growing, especially from high-net-worth investors putting money into semi-liquid BDCs [business development companies]....
...Grifols’ disclosed net debt at the end of June last year was €9.4bn....
...The filing also shows that at the end of 2022, the company had net debt of $5.8bn....
...Their stronger performance net of fees is even more impressive given that their charges tend to be substantially higher....
...While this could replace work done previously by humans, he argues that there is “a net growth opportunity” instead. He explains: “The cost of producing a single page has gone down by 90 per cent....
...In 2023, Gramercy’s flagship multi-strategy fund returned 16.7 per cent net of fees compared with 11 per cent for the JPMorgan EM Equal Weight Total Return index, which blended the bank’s three best known...
...Its net zero target is 2050....
...Actis executives, who have expanded the business since spinning out of the UK government’s development finance unit in 2004, are likely to net a big windfall by selling their firm....
...The country has also pledged to achieve a level of net zero emissions by 2060....
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