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Deal with New Mountain Capital is largest to date as PE firms rush into accounting sector
...H&F’s investment also underscores the growing interest of private equity in professional services firms, and represents a return to large-scale dealmaking in the US accounting sector after a hiatus caused...
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
PCAOB imposes total penalties nearing $12mn against PwC, Deloitte, KPMG and others
Policies come as Beijing increases control over international financial hub
...In other areas, too, the results showed the professional services firm’s ability to swap in new services for those that have slowed....
...The debt deal with Apollo marks one of the largest deployments of private capital into professional services and will be closely watched by the rest of the accounting sector, which has typically shied away...
...Black, who was forced out over revelations that he had paid $158mn for tax advice and other professional services provided by the late sex offender Jeffrey Epstein, is in line to receive about $276mn from...
...Private equity dealmakers have cast a wide net across white-collar professional partnerships in recent years....
...It comes on top of the 800 redundancies Deloitte announced in September — later reduced to about 700 — as professional services firms contend with slowing demand from clients and rising costs amid a tougher...
...The roll out highlights how the professional services industry is increasingly adopting generative AI to automate tasks....
...But it is uncommon for a portfolio manager to take a big team of investment professionals with them, as Megia has done....
...The professional services sector has, however, been hit by rising costs and falling demand from big companies over the past year....
...Over the past few weeks, there have been multiple lawsuits filed by news providers large and small, as well as comedians, authors and other creative professionals who allege that their work is being unfairly...
Big Four firm says suspicious activity quickly spotted but industry disagrees about relying on the new technology
...In mid-December Mobileum terminated longtime chief executive Bobby Srinivasan over what it described as “serious personal and professional misconduct”. Busted buyouts are common....
...However, Asness said that the availability of more data was actually making things harder for most investors, whether they were individuals trading at home or investment professionals at a large financial...
...Deloitte’s figure for 2021 also reached about £1mn, after taking into account a one-off £200,000 average gain per partner for the sale of a restructuring business to Teneo, a private-equity backed professional...
...That is more than double India’s average rate of 21 per cent in 2022, according to a report by professional services firm Aon....
...But the basic concept is that a group of journalists will write the kind of investigative stories you find in mainstream news outlets and a separate set of investment professionals will have access to the...
...FWIW: PaLM is currently predicting a slower reversion to the Federal Reserve’s 2 per cent inflation target than professional human forecasters . . ....
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...Arm’s $5bn initial public offering this week was the most expensive in fees for five years, earning a $84mn windfall for the professional services firms that advised it, including Deloitte....
...Stock will be available to the public in the US and through private placements on the professional segment of Paris’s Euronext exchange for the first time, subject to approval from France’s market regulator...
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