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...By contrast, Breit struggled to cover its distribution with cash flow from operating activities, a metric that doesn’t include recurring property expenses like capital expenditure....
...Continuation funds can also be controversial with LPs, because they have to decide whether to lock up capital with a VC for another lengthy period or cash out potentially at a discount....
...But it sounds as if the two sides are far apart....
...Blackstone already part owns Hipgnosis Song Management (HSM), the manager and investment adviser of Hipgnosis Songs Fund (HSF), although its new offer is separate to that holding....
...The hedge fund manager getting all the attention, of course, is Nelson Peltz, the octogenarian co-founder of Trian Fund Management....
...With a shareholder vote set for April 3, Disney faces proxy fights with Peltz’s Trian Partners and Blackwells Capital, which are seeking board seats and other changes aimed at boosting the company’s share...
...Blackwells Capital, another activist, put three nominees forward, who were also denied in the vote....
...Given negative net capital distributions for the past several years, lenders with skewed cash-pay/PIK proportions may feel greater pressure from LPs to sell down portfolios in order to manufacture distributions...
...The owners and managers of the True Confidence, who purchased the vessel just days ago from US private equity group Oaktree Capital, gave details of the deaths and injuries in a statement on Thursday....
...By her calculations, direct lenders were charging roughly 2.5 percentage points more than banks. A year ago, that figure was a full percentage point lower....
...One sign of this emerged on Monday, when FT calculations revealed that the leaders of entities such as Blackstone, KKR, Apollo Global, Ares Management and TPG enjoyed a more than $40bn rise in the value...
...The group agreed this week to take a 26.1 per cent interest in Victory Capital Holdings, a $2.8bn US-listed fund manager....
...Blackwells Capital, the second activist, has put up its own slate of three directors for the board....
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
...“There’ll be some opportunities to buy digital goods, maybe even at some point physical goods.”...
...They’re trying to free up capital now, to be able to be ready to make some acquisitions of the banks that need help,” he said....
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...These vulnerabilities call for sound risk management by PBs, overseen by risk-based, proactive supervision....
...Most VCs continue to charge LPs a management fee regardless of whether they had made investments, but Sequoia Capital, one the premier tech VC groups, started waiving fees on capital it had not yet committed...
...Apparently, Apollo Global Management has other priorities....
...And whereas there is much disagreement around “E” and “S”, few people question sound governance as a worthy goal....
...We think this risk is also low, considering a broad range of liquidity and capital solutions that are available to both GPs and LPs....
...Shareholders are also feeling threatened not just by corporate management but also by government politicians....
...“We intend to actively deploy this capital and our board and management team see compelling value in our shares,” chief financial officer John Redett said....
...But the management team of Jagex police excesses of bots and make sure that bots do not become problematic in the game....
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