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...Hollywood entertainment group Endeavor and its private equity partner Silver Lake, which have controlled Learfield since 2018, will become minority partners under the restructuring terms....
...California-based Silver Lake has focused on larger takeovers in recent years, with co-chief executive Egon Durban telling the Financial Times last year that the group was focused on “all-in bets”....
...Silver Lake and Emanuel have relied on their supervoting power to cut the public out, a fitting end to this corporate governance morass. Endeavor’s time as a public equity has mostly been a flop....
...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....
...This article with suggested questions picked by a teacher is part of the Financial Times free schools access programme. Details/registration here. Read our full range of geography picks here....
...The gains for Silver Lake are equal to a net multiple on the equity it invested into VMware of 7.3 times for its 2013-era flagship private equity fund, and 3.1 times for a later fund that was raised in 2018...
...VMware’s sale delivered more than $14bn in cash to Silver Lake and Dell, crystallising part of the duo’s $70bn in combined gains, according to Financial Times calculations....
...Analysts estimated the valuation at 13 times annual ebitda, higher than the figure for Endeavor....
...Earlier this year, Durban told the Financial Times the private equity group had decided to focus its efforts on larger takeovers as public markets have become dislocated....
...“It may be that for a certain time we’ll need a specific number of servers but if market conditions change, we need to scale that five or 10 times....
...Her school years coincided with a time of soul-searching for British ballet....
...Dear reader, By the time you are reading this, the UK chancellor Jeremy Hunt will have delivered yet another Budget on the seemingly interminable trudge towards a general election....
...time of year over the past half-century....
..., according to Financial Times calculations....
...But the deepest changes over time are likely in the Nordic region itself....
...“If you wanted to mirror Citadel as an example for collecting data, I think it would take a lot of time, a lot of money . . . so we are spending a lot of time and effort trying to develop our own AI machines...
...blamed this on Google’s fragmented structure, big-company bureaucracy and the lack of a coherent company-wide plan for rolling out generative AI across its range of products and services, the Financial Times...
...Firms including EQT, Cinven and Silver Lake have in the past few months either taken private or considered buying back public companies they owned or in which they held a large minority stake....
...The bank’s sports team have no time to rest on their laurels, however....
...It also asked whether people agreed that “time spent thinking about overnight trading would be better spent on regular market hour trading”....
...The ability to attract Citadel as a tenant delivers a boost to the Broadgate project at a time when British Land is exploring bringing in another investor in the joint venture....
...“If you see us invest right now, by definition it will be a big all-in bet,” Durban told the Financial Times in a rare media interview....
...In today’s newsletter: DD chats with Silver Lake’s Egon Durban Private credit pounces on loan deals Silver Lake prepares for big ‘all-in’ bets US private equity group Silver Lake is up to big things....
...Many will see a redux of what Silver Lake pulled off a dozen years ago in helping Dell privatise his PC empire. Endeavor’s time as a public company was mostly a flop....
...Austria’s state prosecutor for economic crime and corruption has received “several” criminal complaints against Benko, it told the Financial Times in February, but has yet to declare whether it has opened...
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