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...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...
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...Advocates of private equity say it can be used to boost growth and introduce a more compelling incentive structure for partners and staff....
...US accounting firms have been flirting with private equity for several years, attracted by the ability to put an equity value on a firm that has historically paid out most of its earnings to partners....
...KPMG sold the insolvency and restructuring business to private equity group HIG Capital in 2021....
...General Atlantic’s expansion push comes as some prominent private equity groups consider public listings, while others sell to strategic partners with broader financial resources....
...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....
...Elite private colleges have for the past 25 years followed the “Yale model” by ploughing big dollars into illiquid alternative investments, to great success (Golden had come from Yale)....
...Private equity firms must get into the weeds of a business. Hedge funds prefer spreadsheet calculations that they can paste into letters and PowerPoint slides....
...“It creates an equity culture so that partners are focused on how to grow the equity value of the business and not just their own individual book of business.”...
...But the Apollo case shows that in private equity, monitoring and enforcing contract terms is not so straightforward. sujeet.indap@ft.com...
...Princeton gets burnt by private equity For many years, investing in private equity was a sure way for university endowments to make money....
...Private equity firm Silver Lake on Tuesday said it has agreed to pay $27.50 per share in cash for the Hollywood powerhouse....
...The FT in late 2020 was the first to report about a Southern District of New York decision in which Judge Kevin Castel ruled that Mohammed Ali Rashid, an Apollo private equity partner, breached his duties...
...The private equity group has decided against selling shares in the IPO....
...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....
...“Investors are not really going to have much of a choice,” said Niklas Amundsson, a Hong Kong-based partner at Monument Group, a private equity placement agency....
...The rising bankruptcies also highlight the problems that some indebted private equity owned healthcare businesses are having because of the combination of higher interest rates and costs and a reduction...
...Rothschild set up RIT Capital Partners, a listed investment trust investing in public and private markets that he chaired for more than 30 years....
...In 2009, like countless other private-equity hopefuls scouting for deals, 3G Capital’s partner Daniel Schwartz screened a bunch of undervalued companies. He came across Burger King....
...Other firms, including Blackstone and Hg, have sought cut-rate loans for new deals, with banks and the direct lenders of the private credit industry often being played against each other as private equity...
...Rents earned by the funds from making private direct loans accrue to the general partners, not the limited partners....
...Last month, General Atlantic agreed to roll most of its 52 per cent stake in software group EngageSmart into a $4bn buyout led by Vista Equity Partners, two years after General Atlantic listed it on the...
...In April, the New York firm bought Iron Park, a private credit fund manager. It acquired a stake in Clipway, which buys second-hand investor stakes in private equity funds — or secondaries....
...Last year private equity group Francisco Partners agreed to buy financial data provider Macrobond for almost €700mn, while in 2022 Permira gained control of Reorg in a deal that valued the distressed debt...
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