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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....
...Harrison began his career at Schroders and then held roles at other asset managers including Newton Investment Management, JPMorgan Asset Management and Deutsche Asset Management....
...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....
...Graham Capital Management is planning to expand to New York after decades as a Connecticut-based hedge fund, in a vote on the future of America’s financial capital following an exodus of investment firms...
...But it sounds as if the two sides are far apart....
...Including our real estate debt business, it’s about $420bn of assets under management....
...Blackstone already owns a majority stake in Hipgnosis’s management company, Hipgnosis Song Management (HSM), which collects fees for overseeing the listed Hipgnosis fund....
...It is not clear how Concord will seek to deal with the existing management agreement. Concord has now secured backing from investors holding 31 per cent of the issued share capital of Hipgnosis....
...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....
...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....
...Power Points How Europe solved its Russian gas problem and avoided an energy crisis ‘Russian fertiliser is the new gas’ for Europe, top producer warns Who are Anglo American’s possible suitors?...
...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 IPO proceeds include $264mn in funds for Viking that will cover tax obligations from the IPO as well as provide working capital....
...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....
...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....
...“There’ll be some opportunities to buy digital goods, maybe even at some point physical goods.”...
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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...
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