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...The investor known for highly concentrated and volatile portfolios capable of massive gains and losses planned to bring her flagship strategy to several European exchanges starting on Thursday, Ark said...
...But the highly concentrated portfolio lost 23 per cent of its value in 2021 and a further 67 per cent in 2022, hit hard when the US Federal Reserve raised interest rates to a 40-year high to curb soaring...
...supposed to be shielded from losses by a cushion of lower-rated debt that takes losses first, along with a series of rules that enforce diversification and a minimum average quality for the loans in the portfolio...
...Its portfolio of private company bets also was marked down. Tiger’s long positions gained about 50 per cent in 2023, but its overall portfolio only rose about half that much....
...It previously told the FT that “Apollo voluntarily remedied any erroneous billing resulting from the former employee’s fraudulent expense practices by making appropriate reimbursements to the funds and portfolio...
...But it is uncommon for a portfolio manager to take a big team of investment professionals with them, as Megia has done....
...rates have hit the valuations of private start-ups, forcing Silicon Valley venture capital firms to shift their focus from raising ever-larger funds to instead ensuring the survival of companies in their portfolios...
...That’s the case even as they start to face pressure to sell some portfolio companies to return capital to their backers....
...“You could argue that, since shorting is such a challenging sub-strategy, keeping things long-biased and having a concentrated portfolio of high-quality positions has been the way to go,” Amiee said....
...Witold Henisz Vice-Dean and Faculty Director, ESG Initiative, Deloitte & Touche Professor of Management, The Wharton School, University of Pennsylvania, Philadelphia, PA, US...
...Is the resulting long-short portfolio one we would actually like to hold with our own money? Of course not!...
...Private equity firms still own large stakes in dozens of former portfolio companies whose shares are languishing on the public markets....
...Abby L Watson President, Groundwire Strategies Norristown, PA, US...
...Renamed GV, it now boasts more than 400 companies in its portfolio and has some $8bn in assets under management....
...However, Shah added, the company would “have its work cut out from establishing multilevel distribution channels, after-market service support and an EV portfolio priced in the sweet spot of $10,000”....
...They warned that the loans put the broader portfolio at risk and the borrowing costs could eventually hamper returns for the entire fund....
...Private equity conflict Private equity firms are increasingly providing debt financing to companies they own, making them both owner and lender to businesses in their portfolios....
...Blackstone took control of the trust in 2013 and two years later dramatically expanded it with the purchase of a $4.6bn portfolio of commercial mortgage loans from GE Capital....
...But a sudden rise in interest rates beginning in 2022 left Tiger badly exposed to plunging valuations and holding a bloated portfolio of private investments with limited paths to exit....
...Last month, Warburg seeded a new insurance group called Prismic that will use it to manage a portfolio of private equity investments. Warburg is also undergoing succession planning....
...The value of that portfolio was marked down by nearly 20 per cent last year....
...This means private equity firms are essentially shuffling leverage from a single portfolio company to an entire fund....
...Mockney wheeler dealer “Del Boy” Trotter was known for his French language faux pas and council flat in Nelson Mandela House, London....
...These include so-called net asset value financing, which involves a buyout firm borrowing against a portfolio of assets....
...As a result, this portion of the fund’s portfolio has been written down to zero....
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