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...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create high-yielding assets for insurance companies....
...As well as paying off obligations to retirees, the new structure involves repaying capital to current and former partners....
...Advocates say private equity can bring more efficiency to the profession and access to capital for critical investment, but the financial terms of such deals can prove controversial....
...The US-based group will make its investment from a $24.4bn fund raised in 2021 that is one of the largest funds dedicated to private equity deals....
...US private equity group General Atlantic has agreed to buy London-based infrastructure fund manager Actis, a combination further underscoring a wave of consolidation gripping private markets....
...Founded in 2000, Jane Street has grown into an increasingly powerful trading firm and market maker for the $8.9tn US exchange traded fund industry....
...When the bill comes due, Capital One Financial will need to show it has the funds....
...Rising interest rates have hit the valuations of private start-ups, forcing Silicon Valley venture capital firms to shift their focus from raising ever-larger funds to instead ensuring the survival of companies...
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...He was a day-one investor in venture capital giant Sequoia Capital, as well as other leading private capital groups including Benchmark Capital and Hillhouse Investments....
...“Firms desperately need capital to transform the business,” he said....
...Five of the largest managers of private capital have announced new equity or debt private climate capital funds in recent months....
...Private equity firms must get into the weeds of a business. Hedge funds prefer spreadsheet calculations that they can paste into letters and PowerPoint slides....
...The firm also named Chris Gordon and Robin Marshall as the heads of its global private equity business....
...The reality is that many investors these days like the opacity and artisanal marking of truly private credit funds....
...Neumann has held conversations with some of WeWork’s creditors, a group that includes King Street Capital, Brigade Capital and BlackRock, but it has been unclear if any are willing to go along with his plans...
...Capital One and Discover said on Monday that the transaction is expected to generate expense synergies of $1.5bn in 2027 and deliver a return on invested capital of 16 per cent in 2027....
...A key change is the expansion of the coverage to include a much wider range of non-public assets, including private debt funds, directly held private debt and directly held real estate funds....
...The investment managers that form the layer in between get their capital from insurance companies, sovereign wealth funds, pension funds and so forth....
...Get a private equity fund to finance your bid. That is the route Nasdaq-listed Viavi has chosen to go down....
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...Rashid had been accused of violating his duties to investors in Apollo private equity funds in the early 2010s by billing the funds hundreds of thousands of dollars in improper personal expenses, such as...
...Endeavor never really caught the fancy of the large mutual funds. Its hodgepodge included a legacy talent management agency as well as live events and a mixed martial arts league....
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
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