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...After a fractious call with Grant Thornton’s management last week, retirees said the sum they were offered was unfairly low, in some cases coming up short by $1mn or more....
...The firm has about 600 partners in the US and is the largest member of Grant Thornton International, a network of accounting firms that use a common brand and co-ordinate services worldwide....
...It also cedes to the reinsurer certain assets to back those risks, which are held as collateral, under an agreed set of investment guidelines....
...“You would expect me to say this, but I think we did pay our dues in 2021 and 2022, and now we’re on the other side of that,” Wood, chief executive of Ark Investment Management, told the Financial Times....
...In his ruling, Castel said that Apollo’s accounting department “deserve[d] significant blame” for the harm done to fund investors but still ruled that Rashid had violated US securities law on investment...
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...Apparently, Apollo Global Management has other priorities....
...His investment nous won him admirers among Wall Street royalty including Oaktree Capital Management co-founder Howard Marks and Blackstone’s Stephen Schwarzman....
...The top 20 managers made profits for investors of $67bn in 2023, according to research by LCH Investments, up from the previous record of $65bn in 2021....
AI caramba
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...Cannae pays a 1.5 per cent annual management fee, roughly $40mn, to another Foley affiliate....
...The green investment backlash led by US Republicans has led to investment funds pulling more than $13bn from BlackRock, the world’s largest asset manager....
...Millennium’s investment and the fact that Taula is seeking to launch with up to $5bn of capital were previously reported by industry information service With Intelligence....
...the Financial Services Compensation Scheme between 2015 and 2022....
...as evidence for the investment thesis....
...There’s a private credit boom going on, and underworked, bonus-anxious investment bankers and their asset management colleagues are ON IT....
...” investment advice....
...US investment firm Harris Associates, which has more than $100bn in assets under management, “sold the stock last year as [we] lacked confidence that management could repair the business”, David Herro, the...
...Instead of an annual management fee, the manager passes all costs to its end investors, covering costs such as office rents, technology and data, salaries, bonuses and client entertainment....
...The cuts largely related to non-investment roles in areas such as technology and back-office services, the person added....
...The two multi-strategy fund managers had been in serious talks for several months over a deal for Schonfeld to manage money for Millennium, giving Englander’s fund access to its more than 100 investment...
...Microsoft has embedded OpenAI’s technology into its own software services....
...Did management make the right noises — or do they still think its problems are anomalous and disconnected?...
...Activist investor Elliott has built a 5 per cent position in Scottish Mortgage Investment Trust, whose early bets on tech groups such as Amazon turned it into one of the UK’s most popular investment vehicles...
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