Hints and tips:
...Grant Thornton is the seventh-largest US accounting firm by revenue and the deal with New Mountain represents the largest private equity investment in the accounting profession, coming hot on the heels of...
...Grant Thornton is the seventh-largest accounting firm in the US with $2.4bn in annual revenue. The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...One hit the container ship MSC Sky II on Monday, while the US warship USS Carney shot down another. It did not say what happened to the other two weapons....
...The list of early backers includes General Catalyst founder David Fialkow, Avenue Capital’s Marc Lasry, founders of RA Capital Management and former JPMorgan Chase chief investment officer Matt Cherwin,...
...But this focus hasn’t endeared it to management teams, shareholders and boards....
...Leon Black, the New York billionaire who quit his investment group Apollo Global Management this year, has agreed to buy a £21m home in the lavish London neighbourhood of Belgravia....
...Welcome back to FT Asset Management....
...Frasers now has a 10.4 stake in the business, so a potential collaboration could open up some interesting avenues. HOLD: AO World (AO.)...
...Bridgewater offers different flavours of its strategy and we don’t know how much of its estimated $150bn of assets under management are in Pure Alpha, the more leveraged Pure Alpha II, its risk parity funds...
...Dec Mullarkey of SLC Management sums up neatly: “The market has concluded that we have seen the worst.”...
...Similarly, Murray Hill Place, the organisation’s US headquarters on Lexington Avenue in New York, is owned by a non-profit of the same name....
...Carvana was built out of DriveTime, an Arizona used-car business owned by Ernie Garcia II, and pitched itself as the digital disrupter of anachronistic used-vehicle dealerships....
...The above is why CS is already on its seventh restructuring plan since 2011, with an eighth likely to be on the way shortly. 6....
...“From the independent research providers’ perspective, these deals are an avenue to extend distribution....
...Scaramucci said the FTX deal was a product of poor performance in a poor market and that SkyBridge, which has $2.8bn in assets under management, was down 25 per cent this year....
...MPS’s controversial comeback strategy What’s a bank to do if it fails to convince investors to back its seventh rights issue in under 15 years?...
...The move underscores the divergent bets on the future of the investment management sector....
...When he took over in 2012, “I basically moved in – did every job, worked behind the bar, house-keeping, sales and revenue management....
...Ambani is the world’s seventh wealthiest man, according to Forbes....
...The new company, later named Apollo Global Management, after the sun god, was led by Black and five other former Drexel executives....
...Doge Vitale II Michiel of Venice was in a pickle. Under a dubious pretext, the Byzantine empire had in 1171 arrested all Venetian merchants in its capital Constantinople and seized their property....
...In its results statement, SoftBank recorded unrealised losses of $2.3bn for unlisted stocks in Vision Fund I (SVF1) and $6.6bn for those in Vision Fund II (SVF2)....
...Honours have flowed his way: he was awarded a knighthood by Queen Elizabeth II in 2017 and made a member of the prestigious Order of Merit last November by King Charles III....
...Reliance is India’s largest listed company by market capitalisation and Ambani is the world’s seventh wealthiest man, according to Forbes....
...Consolidation in the asset management industry continues as groups seek new growth avenues. Liontrust struck a deal to buy Majedie Asset Management to push further into the institutional market....
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