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...Hollywood entertainment group Endeavor and its private equity partner Silver Lake, which have controlled Learfield since 2018, will become minority partners under the restructuring terms....
...Silver Lake already controls about 71 per cent of Endeavor’s voting rights....
...If markets are efficient then no easy pickings should exist for Silver Lake and its team....
...That is where Silver Lake comes in. Its $400mn convertible looks relatively cheap, yielding 4 to 4.5 per cent for a duration of 7.5 years....
...For Michael Dell and Silver Lake’s Egon Durban, the stakes were arguably even greater....
...The split also left Michael Dell owning 40 per cent of VMware, while Silver Lake owned 9.8 per cent....
...Silver Lake own well over half of Endeavor’s economic shares. Along with insiders like Emanuel, Silver Lake control 90 per cent of its voting power through three different share classes....
...On Friday the company was trading at $33.92 after soaring over the past two days, but the price remains well below its intraday peak of $79.38....
...“Silver Lake is currently working towards making a proposal to take Endeavor private,” the California-based firm said in a statement....
Cathie Wood pitches upside of disappointing returns of flagship investment fund
...Firms including EQT, Cinven and Silver Lake have in the past few months either taken private or considered buying back public companies they owned or in which they held a large minority stake....
...In November, Dell and Silver Lake completed the sale of VMware to Broadcom for $92bn, reaping part of an astounding windfall of $70bn for Dell, Silver Lake and their investors from the combined transactions...
...Stripe, the payments plumbing company, at its private valuation peak clocked in at $95bn. Klarna, the money-losing buy now, pay later start-up, once hit $45bn....
...Raine was an adviser when Silver Lake invested $500mn into City Football Group, owner of Premier League champions Manchester City, in 2019, and on the sale of Olympique Lyonnais in 2022....
...Scholar says: “Copper gained around 10 per cent from the trough in October to the peak at the start of December....
...In today’s newsletter: DD chats with Silver Lake’s Egon Durban Private credit pounces on loan deals Silver Lake prepares for big ‘all-in’ bets US private equity group Silver Lake is up to big things....
...Silver Lake arranged a large equity cheque to get the takeover done without requiring heavy debt financing. Silver Lake and its investors committed about $9bn in cash to fund the buyout....
...Its shares traded at around $5 on Tuesday versus a peak of $82 in August. The global EV crown is up for grabs as brand loyalty towards gas-powered cars fades....
...The rush pushed issuance in February back towards the peaks of last year....
...The number of new listings also fell to 1,298 from 1,415 a year earlier and a 2021 peak of 2,436....
...After so much success, observers should question whether “peak pod” approaches. There are two other reasons to do so beyond pure mean reversion. The first is that size matters....
...As a result, its assets under management have nosedived from a peak of $226bn in 2018 to $98bn....
...The group’s shareholders should gear up for a fight with Silver Lake and Emanuel, Lex argues....
...In today’s newsletter Silver Lake and Bain’s dealmaking duel SoftBank gives up on being the next Berkshire Adani goes on the defence The Silver Lake and Bain Capital deal drama in Germany Silver Lake...
...Silver Lake had gained influence at the company via a €344mn convertible bond investment. Software AG’s chair Christian Lucas, appointed earlier this year, is also a Silver Lake director....
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