Hints and tips:
...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....
...a $1bn investment by Hellman & Friedman in Baker Tilly US, another top 10 firm....
...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,...
...The money will predominantly be used to buy out retirement obligations to former partners and return capital to its 600 current partners, as well as to recapitalise the balance sheet and build a war chest...
...Berson told the Financial Times last year that BDO had also considered taking a private equity investment, but decided against it....
...The business provides actuarial advice, pensions administration and investment services to employers and pension schemes....
...For partners, a minority equity stake that grows in value over time can be more attractive than a promise to be paid out of their partnership interest on retirement....
...Ardonagh is owned by Madison Dearborn and HPS Investment Partners....
...It built a large shareholding in 2017 by buying blocks of shares from Abu Dhabi Investment Authority and the California Public Employees’ Retirement System, sources have previously told the Financial Times...
...It does not matter whether they are in funds, which are themselves very stable, or they are on retirement services balance sheet....
...Franklin Templeton has agreed to buy rival Putnam Investments for more than $1bn as the California-based asset manager continues its expansion into alternative products and retirement plans....
...Striking out Nicole Musicco’s abrupt exit from the California Public Employees’ Retirement System followed a big push by the former investment chief into sports deals, Bloomberg reports....
...Retirement plans including that of US defence contractor Lockheed Martin are among the backers of crypto prime broker Hidden Road, according to people with knowledge of the matter, providing the financing...
...Many rivals of Apollo Global Management were convinced that its merger with Athene Holding, its retirement annuities affiliate, would prove a strategic blunder....
...China deals are perhaps harder than ever to get past a US-based investment review committee, as Washington works on plans for closer scrutiny of US investment in China....
...Anglo American has appointed John Heasley, former CFO of The Weir Group, as finance director following the retirement of his predecessor Stephen Pearce....
...While the S&P 500 index tracks the biggest listed American companies, Apollo’s AAA is to be backed by nearly 200 investments made by Apollo’s retirement annuities merchant, Athene....
...Most of the UK’s 5,200 defined benefit schemes, which promise to pay employees’ pensions at a fixed level, use liability-driven investment strategies, which use derivatives to increase exposure to UK government...
...Finback was considering buying a stake in Gideon Cyber Systems LLC, according to the term sheet....
...group’s newly created credit investment arm, General Atlantic Credit....
...In 2018, he became the company’s third CEO since Bogle’s retirement. The company is now transforming itself into a broader wealth manager with a big move into financial advice as well....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...These investors include Abu Dhabi’s Mubadala Capital, Oregon’s public employee retirement system, Alaska’s $81bn permanent fund, two Yorkshire local government pension schemes and the pension fund of Centrica...
...Apollo, the $481bn investment group, last year committed $1bn to buying song copyrights through a partnership with HarbourView Equity Partners, an investment group founded by former investment banker Sherrese...
...Australian pensioners could suffer from too much choice for their retirement investments, the country’s regulators have warned....
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