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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Private equity groups Advent International and CVC Capital have teamed up to bid for a pet food company owned by Cinven, leaving a single bidding consortium left seeking to buy an asset the UK buyout group...
...At the centre of the potential sale is a catalogue of 62,000 songs, including hits by Lorde and The Weeknd, which the private equity group acquired for $1.1bn in October 2021....
...As many private credit groups rely on buyout shops for business — the bulk of their lending is often to finance private equity deals — they may have an incentive to avoid rocking the boat even if a company...
...A tie-up with BlackRock would have marked a dramatic shift in strategy for Warburg Pincus, which has over the past decade resisted the urge to follow peers like Blackstone and KKR and list its shares on...
...Rabe said it might be an opportune moment for a “bigger step” to scale up BMG, which has already sought to expand its catalogue through a partnership with KKR, the private equity firm....
...sell a majority stake to private equity investors....
...KKR was also holding talks with large corporations and other private equity buyers about potential asset sales, they said....
...One is to seek a limited number of large cheques; the other is to go after a large number of small ones. Private equity has travelled the first avenue....
...Private equity dealmakers have cast a wide net across white-collar professional partnerships in recent years....
...Pete Stavros, co-head of private equity at KKR, for example, has in recent years thrown huge energy into an initiative called Ownership Works, which gives a stake in private equity-owned companies to employees...
...One adviser to private capital groups said the Eurovita episode meant it was “one step forward, three steps back” for private equity’s standing with regulators after years of trust-building....
...One thing that should be clear is who pays for what. But the Apollo case shows that in private equity, monitoring and enforcing contract terms is not so straightforward. sujeet.indap@ft.com...
...Private equity’s newest gold rush Private equity groups have turned to novel deals where they can create large companies almost out of thin air....
...In the US, listed private equity groups such as Blackstone and KKR have to be more transparent about the figures....
...“These companies are proving that there are multiple avenues of growth for them by product, region and distribution channel,” said William Katz, an analyst at TD Cowen....
...Private equity groups globally are sitting on a record 28,000 unsold companies worth more than $3tn, as a sharp slowdown in dealmaking creates a crunch for investors looking to sell assets....
...Apollo, Carlyle and KKR are studying separate bids for Pension Insurance Corporation ahead of a deadline this week, as big private capital groups look for a way into the thriving market for UK corporate...
...Ultimately KKR lost $730mn on the transaction. Plenty of other companies have been ransacked over the years, often highly successfully for their private equity owners....
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
...Kennedy Lewis was approached by multiple suitors during the process, underscoring interest in private credit by alternative asset managers, one person added....
...For quoted companies, shifting to a private trading system is likely to cut costs....
...Rents earned by the funds from making private direct loans accrue to the general partners, not the limited partners....
...PE giants Blackstone and KKR are also in the process of raising new flagship funds....
...On a November earnings call, Schwartz called for time, stating that he was overseeing a “surgically methodical process” to set the foundation for growth....
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