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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...KPMG sold the insolvency and restructuring business to private equity group HIG Capital in 2021....
...Boston-based Bain Capital was co-founded in the mid-1980s by Romney and a group of mostly former consultants from Bain & Co....
...“We have built a leading global franchise in US rates products, and Euro rates is a logical next step,” Peng Zhao, chief executive of Citadel Securities, told the Financial Times on the sidelines of an investment...
...When the bill comes due, Capital One Financial will need to show it has the funds....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...The Financial Times last week asked Apollo about its billing practices after the appeals court ruling....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...“Firms desperately need capital to transform the business,” he said....
...He was a day-one investor in venture capital giant Sequoia Capital, as well as other leading private capital groups including Benchmark Capital and Hillhouse Investments....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...Alphaville got its mitts on the Palmer Square Capital BDC deck, which you can read here, including a slide showing the investment yield on offer in these vehicles....
...Some of the biggest deals struck in the quarter included Capital One’s $35bn acquisition of Discover Financial, and chip design toolmaker Synopsys’s $35bn takeover of engineering software maker Ansys....
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
...The Financial Times reported in October that Schonfeld was in partnership talks with Millennium that would have seen Englander’s hedge fund put billions of dollars to work with its smaller rival....
...The answer is sort of interesting (all data from S&P Capital IQ): Companies in the S&P 500 have an average price/earnings ratio of 23, based on earnings estimates for the next 12 months....
...Millennium’s investment and the fact that Taula is seeking to launch with up to $5bn of capital were previously reported by industry information service With Intelligence....
...Apollo Management, Ares Management and Coller Capital are among the firms that have gotten into the private-credit ‘secondary market’ investment game....
...The cuts would be equivalent to 5 per cent of the firm’s financial advisory division....
...Eminence was one of several New York-based activist funds, alongside Sachem Head Capital Management and Dendur Capital, which had pushed Entain to grant them board seats....
...In his absence, we have a world-class line-up of Financial Times journos, including Katie Martin on the bull case for dividends....
...At best, it generates “proto-picks”: companies with promising sets of financial characteristics that, with further work, might turn into stock picks....
...Michael Rhodes, who joined Discover in December, is headed to Ally Financial, where he will be chief executive of the financial services company that has long specialised in auto loans....
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