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CEO projects share of sales will double as companies integrate technology into operations
...Some of the biggest private equity and asset management groups — including TPG, BlackRock, T Rowe Price and CVC Capital Partners — have recently acquired credit managers as they look to diversify their assets...
...The legislation would still require approval by the Senate and President Joe Biden’s signature....
...GIP is one of the world’s largest infrastructure investors, with more than $100bn in assets under management....
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...Alexander Yokum, an analyst at CFRA, downgraded NYCB’s shares to “hold” on Wednesday, saying: “Our diminished view reflects falling confidence in management’s ability to integrate its recent acquisitions...
...BlackRock Riyadh Investment Management will be a wholly owned subsidiary of the $10.5tn US asset manager....
...William Chow recalls his schooldays in the UK in the 1990s as he plots the investment strategy of Raffles Family Office from the 23rd floor of The Center, one of Hong Kong’s signature skyscrapers....
...In other words, it seems possible that the management team is just not very good.”...
...Called Australian Wine Holdco, the consortium also includes asset managers Intermediate Capital Group, Capital Four, Sona Asset Management and Samuel Terry Asset Management....
...Whenever there’s a study that dunks on active portfolio management, we’ll be here to cut and paste. Today’s active management dunk comes from Morningstar....
...Activist investor Sparta Capital Management is calling on London-listed engineer Wood Group to consider a US listing to address the “continued underperformance of its shares”....
...The management of Altice’s heavily indebted French telecoms business badly burned bondholders last month, when they carefully explained on a results call that, because modern-day debt covenants have more...
...The original, Exit Inc, has been followed by Yametara Iinen (It’s OK to quit), Yamerun desu (Let’s quit), Saraba (Adieu) and various others. Momuri, with its signature duck, has gone even further....
...Active mutual funds experienced outflows of more than $50bn in the first three months of the year, according to Morningstar Direct, hurting large asset managers such as Capital Group, T Rowe Price and Franklin...
...NYCB grew swiftly with two rapid-fire deals to buy Flagstar Bank and most of the deposits at failed lender Signature Bank in 2023....
...Midway through May 2023, the group signed a $200mn four-year credit facility with a group of banks....
...He or she has to be kept happy because of the money they bring in, but nobody in their right mind would put someone like this in a management role....
...the groups had already paid in 2023....
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...It still needs Senate approval and President Joe Biden’s signature....
...Instead, they’re trying to buy themselves time by refinancing existing debt, in a move that’s commonly known as “liability management”....
...Switzerland’s Julius Baer reported a more than 50 per cent drop in its profits on Thursday after it wrote off SFr606mn ($700mn) from its exposure to Signa, the crisis-hit Austrian property group....
...Brookfield Property Group said the FDIC was running a “secret” process to sell Signature Bank loans....
...Non-profit group Open Web Advocacy organised an open letter to Apple chief executive Tim Cook urging him to reverse course, which by Friday had gathered almost 5,000 signatures....
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