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...By contrast, Breit struggled to cover its distribution with cash flow from operating activities, a metric that doesn’t include recurring property expenses like capital expenditure....
...Continuation funds can also be controversial with LPs, because they have to decide whether to lock up capital with a VC for another lengthy period or cash out potentially at a discount....
...A month later, Grant Thornton US agreed to sell a 60 per cent stake to New Mountain Capital....
...Concord has now secured backing from investors holding 31 per cent of the issued share capital of Hipgnosis....
...That deal has already been backed by about 29 per cent of Hipgnosis’ issued share capital. Hipgnosis’ music portfolio includes artists such as the Red Hot Chili Peppers and Shakira....
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...Disney has also hired JPMorgan as an adviser in negotiations to buy the remaining stake of streaming service Hulu from rival Comcast....
...It is now attempting to navigate the twists and turns towards retail capital. The latest effort is the semi-liquid buyout fund....
...“Firms desperately need capital to transform the business,” he said....
...A resurgence in initial public offerings or sales would allow LPs to recoup their invested capital and recycle it....
...They’re trying to free up capital now, to be able to be ready to make some acquisitions of the banks that need help,” he said....
...But it seems unlikely that the private capital boom will go into reverse any time soon; after all, public equity markets have challenges, too....
...When a client (the Limited Partner, or LP) signs up to invest $100mn in private equity, they don’t immediately assume $100mn of exposure....
...“As we’ve turned the year you see banks being more aggressive,” said Chris Bonner, who heads leveraged finance capital markets for Goldman Sachs....
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“Does this seem like fair journalism to you?”
...Private equity group Carlyle and Abu Dhabi investment group IMI have agreed a fresh debt funding package for the Barclay family’s Very Group, the Liverpool-based retail and financial services group....
...Blackstone’s credit and insurance division will buy the US credit card receivables from Barclays for an undisclosed sum, and the bank will continue to service the accounts for a fee....
...“The declining cost of capital with rates coming down and spreads coming down for real estate borrowing is very helpful.”...
...Carlyle said it expected to increase fee-based earnings by almost 30 per cent this year to $1.1bn and attract more than $40bn in new investor capital....
...Disney is facing proxy battles with Nelson Peltz’s Trian Partners and Blackwells Capital, which are seeking board seats and other changes aimed at boosting its share price....
...The private capital titan claimed prescience both in sensing higher inflation in 2021 and subsequent easing of price levels in 2023....
...Will capital markets and dealmaking make a comeback? Dealmakers need stability to execute transactions, and it was severely lacking over the past year....
...The private capital groups have built up substantial investments or tie-ups in the life insurance sector....
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