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...ByteDance’s US investors include private equity company General Atlantic as well as Susquehanna International Group, Sequoia Capital and Coatue Management....
...For one thing, management seems to have traded English understatement for American optimism....
...By the end of a tumultuous weekend, during which the company’s board seemed to be playing musical chairs with the chief executive role, Altman said he would join Microsoft....
...Balyasny Asset Management made three significant promotions on Wednesday....
...Today’s big read At first, it was Lazard and Rothschild that Roger Altman’s boutique New York investment bank Evercore had in its sights....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...company Axa in a deal valuing the company at just over €500mn....
...They are growing fastest away from their core private equity business with large private credit and insurance operations....
...Smart reads Who is Sam Altman? The OpenAI chief is advancing artificial intelligence while also warning of its dangers....
...Holdings of UK-listed companies by British pension and insurance funds have plunged from about half of their portfolios to 4 per cent over the past two decades, according to data from Ondra....
...“Not a single one of the clients who are in these funds would pay these rates for any other type of insurance, certainly not term [life] insurance,” she points out....
...“The speed of the world has changed,” said Sam Altman, the technology executive behind the artificial intelligence phenomenon ChatGPT, shortly after a historic bank run in which customers tried to withdraw...
...The new company, later named Apollo Global Management, after the sun god, was led by Black and five other former Drexel executives....
...Until then, you can reach Sid and I at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...A huge chunk of that — Rs205bn — came from the sale of a 3.5 per cent stake in state-run Life Insurance Corporation (LIC) in May through a long-delayed initial public offering....
...“The fact of the matter is [that] this is far broader than just insurance brokerage,” Williams said, although he adds that insurance is likely to remain the company’s largest business line....
...Let us know what fintech predictions you have for the rest of the year at imani.moise@ft.com and sid.v@ft.com....
...So they have all of this cash from these companies. They got this influx of money. Those companies are highly interest-rate sensitive....
...As ever, send your thoughts, queries and philosophical riddles to Imani (imani.moise@ft.com) or me (sid.v@ft.com). Happy reading!...
...Companies that sell software to insurance groups have also fared better....
...“Migrant workers are much less likely to have formal labour contracts that allow them to pay into social insurance schemes that protect them if unemployed,” she says....
...Job moves Jacqueline Hunt, a member of Allianz’s board of management in charge of Allianz Global Investors, Pimco and the group’s US life insurance business, is in talks about an early departure, two people...
...two weeks ago announced a merger with its insurance affiliate, Athene....
...In the news Apollo to merge with Athene Apollo Global Management is to merge with Athene Holding, the life insurance company it created at the height of the financial crisis, transforming the alternative...
...Japanese insurer Tokio Marine has said the insurance policies at the heart of the Greensill Capital collapse may not have been valid, as investors pressed the company to detail its exposure to the lender...
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