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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...
...The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...The US-based group will make its investment from a $24.4bn fund raised in 2021 that is one of the largest funds dedicated to private equity deals....
...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....
...Altice is fielding offers for its Portuguese telecoms business until early January, and has received interest from multiple industry players and private equity funds, including US group Apollo, said people...
...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....
...US private equity group Apollo Global is in discussions with Sony Pictures Entertainment about making a joint takeover bid for Paramount Global that would rival ongoing talks between controlling shareholder...
...Talent agency Endeavor Group is being taken private at an equity value of $13bn after three years of lacklustre performance as a listed company....
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...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....
...What Howard is saying is that making a buy or sell decision based solely on a macro view would be an irresponsible use of client capital — a fool’s errand....
...Still, some are being cautious, and one group of investors doesn’t seem convinced: private equity is sitting on a record number of assets....
...You report that private equity groups are eager to invest a huge amount of “dry powder” that has already been committed to them (“Private equity groups hunt for exit strategies amid $2.6tn cash pile-up”,...
...They also have the pulling power to borrow more, including treasures from Belgian private collections and Oxford’s Christ Church Picture Gallery....
...Instead, staff at the office — whose exact location the group prefers to withhold — use screens to monitor the locations of scores of clients’ ships and track potential risks facing them....
...“Although rare events, the closures are likely to cause substantial costs to both the local authority and clients in need of relocation,” he added....
...Neumann oversaw WeWork as its valuation peaked at $47bn in private markets but subsequently crashed after scrapping an initial public offering....
...The luxury cruise sector is growing three times faster than the industry at large, nearly doubling capacity by 2028, according to an Oxford Economics report from last September....
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