Hints and tips:
Related Special Reports
...The US-based group has raised $20.5bn for its seventh private equity fund....
...Grant Thornton is the seventh-largest US accounting firm by revenue and the deal with New Mountain represents the largest private equity investment in the accounting profession, coming hot on the heels of...
...The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...better returns than traditional government and corporate debt....
...The cash from New Mountain, together with some debt financing, will be used to return capital to current partners, buy out retirement obligations to former partners and build a war chest for investment,...
...BDO last year took an alternative approach, opting to convert to an employee-owned corporation, funded by private debt....
...Smart reads Phantom debt Wall Street is becoming increasingly concerned about consumer debt that’s flying under the radar in the form of “Buy Now, Pay Later” platforms, Bloomberg reveals....
...“It’s not obvious that they should do it through the traditional channels of investment grade public debt or equity.”...
...The private equity giant allegedly set up a web of sham trusts — using a secretive affiliate called Financial Credit Investment — to hold a portfolio of stranger-originated life insurance policies worth...
...Mubadala holds a minority equity interest in US technology private equity group Silver Lake and has created large lending and investment partnerships with Apollo Global....
...Debt capital is usually cheap relative to the expected returns that motivate equity investments and thus relative to the imputed cost of equity capital....
...Refinancing an Action debt line in November successfully extracted €353mn from the business, net, but it’s probably not a repeatable trick....
...Such transactions might help to stem companies’ debt problems in the short term, while helping to preserve buyout firms’ equity....
...Other concerns centre on Trump’s public spending and tax policies, which could push up US debt levels....
...However, there were still signs of animal spirits in some corners of the global market with solid demand for some cyclical assets, such as European and Japanese equities and emerging market debt....
...Such private investments in public equity — or PIPE — deals are relatively common in the US, offering private equity houses a downside-protected route into a company’s share capital....
...It previously told the FT that “Apollo voluntarily remedied any erroneous billing resulting from the former employee’s fraudulent expense practices by making appropriate reimbursements to the funds and portfolio...
...These partial cash-outs, depending on how much debt a portfolio company has already paid off, can raise overall leverage and interest burdens....
...Banks provide financing for deals as well as arrange loan and bond offerings for portfolio companies owned by private equity groups to refinance debt, which generate lucrative fee streams....
...The pair do not expect to have to refinance Paramount’s roughly $16bn in existing debt. Their offer would be priced at between $17 and $19.50 per share, the Financial Times previously reported....
...A global private equity or debt portfolio should be very closely correlated with a global public equity or debt portfolio....
...Could a tsunami of private equity debt restructurings be on the horizon as public equities approach fresh highs? Who Cares? Does it really matter if cogs in the billionaire factory are a bit jammed?...
...With debt expensive and public market valuations high, some private equity players say acquisitions of partnerships could have more upside than other deals, and they point to lucrative exits on older buyouts...
...That’s the case even as they start to face pressure to sell some portfolio companies to return capital to their backers....
...Scott Shleifer, the head of Tiger’s $30bn-plus private equity business who was instrumental in the firm’s growth, announced late last year he would step down from his role at the hedge fund....
International Edition