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...During the Enlightenment and first industrial revolution, economic growth was driven by the introduction of the steam engine, taking the amount of time for a 10x improvement in real GDP down to 720 years...
...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...
...That’s the case even as they start to face pressure to sell some portfolio companies to return capital to their backers....
...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....
...But it is uncommon for a portfolio manager to take a big team of investment professionals with them, as Megia has done....
...“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....
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...“I want to see a clear sign of Toyota unwinding its holdings in the core group of companies before I could be confident that this is the start of the great revolution.”...
...Private equity firms still own large stakes in dozens of former portfolio companies whose shares are languishing on the public markets....
...Once every decade or so the computing world finds itself on the cusp of a revolution....
...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”....
...Like many breakthroughs in scientific discovery, the one that spurred an artificial intelligence revolution came from a moment of serendipity....
...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....
...This is particularly the case for regional banks which have to cope with rising credit losses in CRE 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....
...(Hat tip to Marginal Revolution)....
...The value of that portfolio was marked down by nearly 20 per cent last year....
...One of the most striking aspects of the Gen AI revolution, is that it is just getting started....
...His $2.6bn investment came as the shale revolution was transforming the US into the world’s largest oil producer....
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