Hints and tips:
...The Paris-based firm, headed by Dominique Senequier, raised $19bn in 2020 for this strategy....
...“This is not part of a wider divestment strategy for Deloitte,” said Lisa Stott, UK managing partner for tax and legal at the firm, adding that disposals were “not our business model”....
...Son has also championed the deal, hoping to capitalise on demand for credit investment strategies and a price close to what SoftBank paid for Fortress....
...“Now we have to roll up our sleeves, get stuck in and solve some problems: the biggest is the pension industry.”...
...“The punchline is that the supermajors are getting bigger, and everyone else is going to have to think about a strategy for maintaining their relevance.”...
...Englander’s age gives Millennium’s succession strategy added urgency....
...That means potentially heavy losses for banks, insurers, pension funds and asset managers that own trillions of dollars of sovereign and corporate debt after loading up in recent years....
...For the latter, a “fusion strategy” will now be de rigueur. But commercial fusion lies decades away....
...The firm and its investors contributed about $9bn of the purchase price while Canadian pension fund CPP Investments put in $1.75bn....
...Eurazeo has promoted Hala Fadel to managing partner to lead its growth strategy. She has also become a member of its management committee....
...Shell is under fire on several fronts after ABP, the Dutch pension fund, announced plans earlier in the week to divest all its holdings in fossil fuel companies, including Shell, because it saw insufficient...
...About 70 per cent of Citadel’s investors are institutions, including universities and pension plans....
...Most of the UK’s 5,200 defined benefit schemes, which promise to pay employees’ pensions at a fixed level, use liability-driven investment strategies, which use derivatives to increase exposure to UK government...
...managing director at investment bank Cowen, said in a note on Monday that the “only risk worthy of any level of discussion would be the scope for the UK secretary of state for Business, Energy & Industrial Strategy...
...Earlier at the same conference, Mikkel Svenstrup, chief investment officer at Denmark’s largest pension fund ATP, compared private equity to a pyramid scheme....
...Masataka Miyazono There is no single pool of money larger than Japan’s $1.5tn Government Pension Investment Fund, which gives its head Masataka Miyazono a lot of sway in the financial world....
...The collapse, which will certainly raise some eyebrows around Thoma Bravo’s strategy, might have raised even more questions had it moved forward. Why?...
...Most private equity firms such as Blackstone and Carlyle Group, in contrast, emphasise their management fees and “carried interest” derived from overseeing large investment funds capitalised by pensions...
...These investors include Abu Dhabi’s Mubadala Capital, Oregon’s public employee retirement system, Alaska’s $81bn permanent fund, two Yorkshire local government pension schemes and the pension fund of Centrica...
...Soares, who previously worked at Morgan Stanley, called her business a “fixed-income alternative strategy”....
...Over the past decade, Millennium’s multi-strategy fund has delivered annualised gains of 11.17 per cent a year....
...(FT) Jack Ma’s Ant Group Delays IPO as Beijing’s Tech Crackdown Goes On (The Information) Chinese Tycoon Behind Big nickel short faces billions in losses (Bloomberg) Top US pension fund rejects calls...
...BlackRock is among a large group of global investors, from pension plans, to hedge funds, and allocators of sovereign wealth, who hold Russian assets that were worth almost $170bn at the end of 2021....
...In the case of Instructure, an education tech company, the strategy eliminated jobs and curtailed sales incentives....
...Its strategy shift could catch on elsewhere as central banks crank up rates to combat inflation. (FT) Last but not least: The market for sports non-fungible tokens is set to reach $2bn in 2022....
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