Hints and tips:
...Lessons learned include managing “the pain of disappointment” and “celebrating wins and mourning losses for a short period of time”....
...And public pension funds in several states, including Oklahoma and Kentucky, declined to pull money out of BlackRock funds despite official policies calling for a boycott....
...That spring it raised about $2bn from investors, including in the Middle East and Asia, who had attributed the drawdown to growing pains....
...“It is a real short-term opportunity, but the pain comes at the absolute worst time,” said one private equity executive....
...The pain is only starting to set in....
...It also borrowed against its management company two years ago to raise $930mn, most of which was to invest in future funds, the FT previously reported....
...A $504mn writedown on home improvement lender GreenSky in the second quarter, which it bought in 2021 for $2.2bn but is already in the process of selling, has added to the pain....
...The takeover marked the culmination of a decade of stress, sleep deprivation and, at times, physical pain, he told the FT’s Tim Bradshaw....
...The city had seemingly been kept in the dark by a federal administration that has refused repeated requests from Adams for a meeting and has faulted the city for its management of the crisis....
...Unfortunately for Tiger, its $13.9mn position was far too small to ameliorate the pain elsewhere (the flagship hedge fund lost 56 per cent in 2022, according to the WSJ)....
...Fund firms whose products are largely geared to rising rather than falling asset prices are already feeling the pain....
...s=20&t=yZI7X5Q0NAr3ZEmO9YUm-w FTAV suspects that it is simply just a small but potentially canny inflation hedge for Tiger, something that might help counter some of the pain elsewhere if inflation continues...
...We won’t want to see executives being unduly insulated [from financial pain] when other stakeholders aren’t.”...
...It underscores fears that more pain could be in store....
...Smart reads Feeling the pain Banks lost $600mn on the $16.5bn leveraged buyout of Citrix....
...Hedge funds famously charge fat performance fees on top of annual management fees....
...The new company, later named Apollo Global Management, after the sun god, was led by Black and five other former Drexel executives....
...The cash windfall companies have experienced over the past year has left bullish management teams much more willing to take risks in future....
...However, a person familiar the matter tells us that Tiger’s $35bn hedge fund has a 15 per cent cap on exposure to private companies, so the pain has primarily been caused by things like Chinese technology...
...There had been “massive amounts of pain”, the person said....
...Employees have a “Pain Button” app they can use to signal their emotions at any given time; a “Dot Collector” that allows users to rate one another continuously on a grid system; and “Baseball Cards” that...
...Despite a century of data indicating that they tend to do well in the long run, value strategies suffered a barren decade before the pain was compounded by the pandemic....
...Now, as the funds bleed money, it is having the opposite effect, deepening the pain for Ark....
...The extra funds have catapulted its overall assets under management to $17.5bn....
...Investment Management and Aviva Investors, had warned they would get tough on companies during 2021’s annual meeting season over remuneration....
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