J and Y Investments LLC

Apollo sells stake in asset-backed lending unit to insurer MassMutual

...MassMutual is making a minority investment in Atlas SP so it can gain access to the asset-backed debts the unit originates, packages into securities and sells....

April 24, 2024

Grant Thornton LLP

Grant Thornton retirees escalate revolt over private equity deal

...Grant Thornton has not publicly disclosed how much New Mountain and its co-investors are paying for the 60 per cent stake, or how exactly the firm will distribute the proceeds of the investment and the new...

April 11, 2024

FT Live

Infrastructure Investment in Latin America and the Caribbean

Identifying opportunities for investors and asset managers

Exchange traded funds

Wood takes Ark ETFs to Europe as US investors jump ship

...Cathie Wood’s Ark Investment Management is launching its first three active exchange traded funds in Europe, courting a new continent of investors after a run of poor performance and outflows in the US....

April 17, 2024

Grant Thornton LLP

Grant Thornton’s retired partners demand bigger payout from private equity sale

...Advocates say private equity can bring more efficiency to the profession and access to capital for critical investment, but the financial terms of such deals can prove controversial....

March 29, 2024

Goldman Sachs Group

Top Goldman Sachs executive quits for hedge fund Millennium

...The firm, one of the world’s most prominent multi-manager hedge funds, has 5,500 employees globally and more than 300 investment teams trading a range of different strategies within strict risk limits....

April 11, 2024

Grant Thornton LLP

Grant Thornton US sells majority stake to private equity

...“We’ll enjoy greater scale, resources and agility, while better positioning the firm to make targeted investments,” said Seth Siegel, Grant Thornton’s chief executive....

March 15, 2024

FT Live

US Decarbonization and Industrial Transition Summit

Securing the resources to build and finance America's clean energy future

Mergers & Acquisitions

General Atlantic to buy UK’s Actis in bet on infrastructure growth

...reminded him of investment opportunities created by the rise of smartphones and ecommerce a decade ago....

January 16, 2024

Corporate bonds

Comment est-ce qu’on dit “J Screwed”?

...In J....

April 16, 2024

Due Diligence

Apollo’s expense scandal gets another day in court Premium

...(For the uninitiated, between the aughts and coronavirus pandemic, Brother Jimmy’s, or Bro J’s, was a go to hangout for twenty-something finance bros, including Rashid.)...

March 28, 2024

Letter

Letter: Higher tax tackles investor ‘dry powder’ and inequality

...Tax receipts, according to William J Shultz and MR Caine’s 1937 Financial Development of the United States, flooded the Treasury with more revenue than it expected....

February 14, 2024

Letter

Letter: UK cost of borrowing is higher for a reason

...as investment and the lack of savings, private and — notably — public....

March 25, 2024

US financial regulation

US regulator pauses plans to scrutinise big investors in banks

...“Any suggestion that this regulatory approach should be changed lacks substantiation and could harm fund investors,” said the Investment Company Institute, which represents fund managers....

April 25, 2024

Letter

Letter: In China trade war, beware those geopolitical grinches

...The complaints of import-competing companies deserve more scrutiny. As do the assumptions of the current cohort of geopolitical grinches in western governments....

February 2, 2024

Special ReportEurope’s Leading Start-up Hubs

Top start-up hubs reinvent the model for European tech sector needs

...Since 2005, Y Combinator has nurtured and funded 4,000 start-ups with a combined valuation of $600bn, including Airbnb, Dropbox and Stripe....

March 14, 2024

Darktrace

Thoma Bravo to buy UK-listed Darktrace for £4.3bn

...The investment firm has been expanding its presence in Europe and announced in 2022 that it was opening an office in London....

April 26, 2024

FT Live

Crypto and Digital Assets Summit

Connecting leaders in crypto with mainstream finance

Energy sector

Commodity traders bet on big data and AI

...Citadel made a record $16bn in 2022 to displace Bridgewater as the most successful hedge fund of all time, according to research by LCH Investments....

April 21, 2024

Alphabet Inc

Alphabet surges past $2tn valuation as it announces first dividend

...The financials and AI investment plans of Google and Microsoft had been in particular focus in light of the experience of rival Meta....

April 26, 2024

Futures contracts

Goldman and Citadel Securities back Howard Lutnick’s renewed tilt on futures market

...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....

April 25, 2024

Inside BusinessSujeet Indap

Apollo back under scrutiny over expenses scandal

...In his ruling, Castel said that Apollo’s accounting department “deserve[d] significant blame” for the harm done to fund investors but still ruled that Rashid had violated US securities law on investment...

March 27, 2024

Global Economy

ARK Invest’s ‘seemingly outlandish’ economic forecasts

...and that the global economy is entering a rendition of the dark ages....

February 27, 2024

Centerview Partners LLC

Ex-Centerview banker did not clinch partner deal at meeting, US court rules

...A former top investment banker at Centerview Partners did not strike a valid agreement to become a full-fledged partner at the elite advisory firm during a restaurant meeting held more than a decade ago,...

April 23, 2024

Jane Street Capital

Jane Street loses bid for restraining order against Millennium

...in a market where Millennium and its affiliates have long been engaged in trading activity (including in options) and has established relationships with relevant brokers and other third-parties.”...

April 19, 2024

Tiger Global Management LLC

Tiger Global closes $2.2bn fund well below its original target

...Shleifer was one of Tiger’s first hires and marshalled investments into booming Chinese technology companies, including ecommerce groups such as JD.com and Ctrip.com....

April 1, 2024

LexEndeavor

Endeavor’s deal is a fitting end to a sorry show Premium

...Half of Tuesday’s press release was dedicated to the phalanx of lawyers and investment bankers needed to untangle this web. Endeavor never really caught the fancy of the large mutual funds....

April 3, 2024

LexSpirent Communications PLC

How private equity is behind the latest loss from London’s stock market Premium

...And this is the right time to swoop. Spirent’s stock has been in freefall....

March 5, 2024

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