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...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...
...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...
...Grant Thornton is the seventh-largest accounting firm in the US with $2.4bn in annual revenue. The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...The US accounting firm Baker Tilly has agreed to sell a majority stake to the investment groups Hellman & Friedman and Valeas, marking the largest private equity deal to date in the sector....
...Private equity firms Fortress, Charlesbank and Clearlake will take over the pre-eminent US college sports marketing group, Learfield, under new terms of a debt restructuring, extending the reach of institutional...
...The transaction highlights the windfalls on offer to former officials and ministers who successfully switch to advising private sector groups on interactions with governments....
...Horta-Osório ran Santander’s Portuguese business in the early 2000s when Portugal Telecom, which was later bought by Altice, was a large client....
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...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....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...They certainly should after the entertainment group announced a long-expected go-private sale to its existing majority shareholders this week. The deal values Endeavor’s equity at $13bn....
...On the first point, it’s worth noting that investment banking clients — especially private equity firms — are generally smart, sophisticated and savvy....
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...Talent agency Endeavor Group is being taken private at an equity value of $13bn after three years of lacklustre performance as a listed company....
...Paramount questioned the financing of Apollo’s bid and refused to engage with the New York-based private equity group. The New York Times first reported the talks between Sony and Apollo....
...It concluded that Apollo’s limited partnership agreements, with pensions and sovereign wealth groups, stated that such travel and dining expenses should be borne by Apollo, not the funds and its investors...
...That gives it an in-the-money option to acquire 15 per cent of the new group, which could be very valuable if the telecoms cycle ever turns. Another win for private equity; not so much for London....
...Unhedged: In the coverage of private credit’s “golden moment” last year, we saw claims that the traditional big bank loan syndicators were increasingly irrelevant, opening the way for private credit lenders...
...He succeeds Jonathan Lavine, who will become chair of the group. The firm also named Chris Gordon and Robin Marshall as the heads of its global private equity business....
...Exits are an absolute necessity for private equity groups, as they are the only way to keep the merry-go-round alive....
...They also have the pulling power to borrow more, including treasures from Belgian private collections and Oxford’s Christ Church Picture Gallery....
...“Although rare events, the closures are likely to cause substantial costs to both the local authority and clients in need of relocation,” he added....
...“In a hybrid work world where demand for WeWork’s product should be greater than ever, my clients believe that the synergies and management expertise offered by an acquisition by my clients could significantly...
...and private equity groups....
...The London-based boutique, which employs about 330 people and was co-founded by multimillionaire philanthropist Jonathan Ruffer, is cutting about 20 positions, including in its private client and risk teams...
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