Hints and tips:
...Morningstar earlier this year estimated that Ark had wiped out about $14.3bn in wealth over the past decade, more than any other fund family....
...Schonfeld began life as a family office in 1988 with $400,000 that its eponymous founder Steven Schonfeld earned working as a stockbroker....
...The family lost control of the group after failing to repay bad debts of close to £1.2bn last year to Lloyds Banking Group....
...A new group including Mubadala, Michael Dell’s family office, Goldman Sachs Asset Management and Lexington Partners will also invest cash into Endeavor....
...Naturally, he began his career at the family bank NM Rothschild. But he later fell out with his cousin Evelyn de Rothschild over the strategic direction of the bank, and struck out on his own in 1980....
...TPG sold a controlling stake in the talent agency CAA to Artémis, the holding company of the Pinault family, at a $7bn valuation....
...The remainder of the debt was covered by International Media Investments, the investment vehicle backed by Manchester City owner Sheikh Mansour bin Zayed Al Nahyan, which will swap into new debt behind the...
...“I extend my deepest condolences and those of the entire IMO family to the families of those who have lost their lives, and our thoughts are with those who have been injured,” he said in a statement....
...But subordinating investment policy to tax minimisation is a choice, not a necessity....
...Raine also advised both sides as Nassef Sawiris and Wesley Edens welcomed new investment from investment firm Atairos into V Sports, the owner of Aston Villa, just days before Ratcliffe struck his agreement...
...The cuts largely related to non-investment roles in areas such as technology and back-office services, the person added....
...New York-based Schonfeld started as a family office in 1988 with $400,000 that founder Steven Schonfeld earned working as a stockbroker....
...Chevedden’s Ford proposal called on the company to end its dual-share class structure that gives the Ford family voting control....
...Meanwhile, France’s Pinault family acquired talent agency CAA for $7bn. Analysts estimated the valuation at 13 times annual ebitda, higher than the figure for Endeavor....
...“Tiger Global is operating in-person out of our New York offices, whereas Scott and his family have made their home in Florida and want to stay there.”...
...The growing gap between Endeavor and the value of its assets was made even clearer following the acquisition of talent agency rival CAA by Artémis, the family holding company of French billionaire François-Henri...
...Lawyering up In addition to his father’s media empire, Lachlan Murdoch also stands to inherit the barrage of legal proceedings hanging over the family business, the FT reports....
...City veteran Gerry Grimstone, who stepped down as the UK’s investment minister last year, has joined Bain & Co as an adviser on a project advising Saudi Arabia’s investment ministry....
...“You’re going to see us do . . . a handful or two of large, really important investments a year and that’s it.”...
...That minority equity stake is worth more than $1.8bn, far more than the agency’s overall $700mn valuation when TPG first made its investment....
...The Barclay family is still trying to secure its own investment from the Middle East to help buy back the newspaper group, which could fetch more than £500mn in the auction....
...France’s billionaire Pinault family has agreed to buy a majority stake in Hollywood talent manager Creative Artists Agency from private equity firm TPG in the largest-ever transaction for the family’s holding...
...Georg Schubiger, head of wealth management, and Christel Rendu de Lint, head of investments, will become co-CEO of the Swiss investment manager from January....
...TMG, once a crown jewel of the billionaire Barclay family, has since become a casualty of their financial misfortunes after being forced into receivership over £1bn of debts....
...The decision to explore a dual listing earlier this year was supported by the beauty company’s controlling shareholders, JAB Investments, which is backed by the German billionaire Reimann family....
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