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...This summer, Sequoia’s chief Roelof Botha travelled across New York, Boston, Chicago and California’s Bay Area to meet more than 50 of the firm’s biggest “limited partners”, who invest in its funds....
...Blackstone owes the University of California twice as much as it did last quarter as part of a complex transaction to shore up its flagship real estate fund....
...At the same time, consultants working for Blackstone have been calling local politicians in California to warn of a probable uptick in evictions in areas of the state that have significant numbers of delinquencies...
...Smart reads Inequity accounting A California family thought a deal to sell its supermarket chain to Kingswood Capital was all but done. Then came the private equity hardball, FT Alphaville writes....
...Never mind that both the affiliate and Sorrento are incorporated in Delaware and registered in California. Why all these shenanigans?...
...To alleviate pressures on the fund’s liquidity as it met redemptions, Blackstone a year ago took a $4.5bn investment from the University of California that came with a high return promise....
...Calpers, the California pension fund, also told Reuters it had voted for Trian’s nominees because it thought Disney would benefit from “fresh eyes” on its board....
...Pension fund investors in Blackstone from New York, North Carolina and Denmark were publicly critical, as was the California Public Employees’ Retirement System (Calpers)....
...This is what happened to Executive Life, then the largest insurer in California, in the early 1990s: policyholders withdrew $4bn after the company announced losses from junk bond investments, and the company...
...Banc of California chief executive Jared Wolff, a former PacWest executive until 2019, will remain as CEO and president of the combined company, which will operate under the Banc of California name....
...Thousands of lawsuits from municipalities, school districts, tribes, parents and others were consolidated into a class action complaint heard in the federal court for the Northern District of California....
...Disney’s sticky wicket on the cricket pitch Cricket isn’t the number one sport in Burbank, California — yet Disney’s executives will be attempting to parse the long-term value of sixes, silly mid-offs and...
...California-based Franklin, with $1.4tn in assets, experienced almost $7bn in net outflows in the latest quarter largely due to underperformance in its Western Core Plus fixed income fund, which was caught...
...The title of the pianist’s last Blue Note LP, Leapin’ and Lopin’, captures the essence of his style. The pianist’s life is an exemplar of promise cut short....
...California-based SVB was shut down by regulators on Friday after customers pulling deposits caused a bank run....
...Brightline, owned by Fortress Investment Group, had struck a 20-year deal with the UK-based group in 2018 to rebrand its service in Florida, and a planned route from Las Vegas to southern California, as...
...Ares this week agreed to buy $3.5bn in lender finance loans from PacWest, a California bank that came under pressure after SVB’s March collapse....
...LPs finding themselves overcommitted to the asset class on the tail-end of the decade-long boom are also selling stakes in large buyout funds in the secondaries market, selling at up to 20 per cent discounts...
...The University of California’s endowment, which manages more than $150bn of assets, on Tuesday said it would make the investment in the Blackstone Real Estate Income Trust, or Breit, at its current net asset...
...The California-based group, which hawks on-demand answers to college course questions for $14.95 a month among other services, is racing to develop its own AI product, CheggMate, but it’s unclear whether...
...This week California’s PacWest became the latest midsize US lender to get swept up in the growing panic....
...Blackstone’s BREIT says it is ready to “play offence” now that it has the University of California on its roster, but some investors still seem to want to take their ball and go home (OK no more sporting...
...Earlier this month, Blackstone announced that the University of California’s endowment would invest $4bn into Breit....
...The University of California pension fund has recently committed $4.5bn to shore up Breit. UC, a longtime Blackstone backer, has committed to hold its investment for six years....
...However, it sold two casinos in Las Vegas and raised $4.5bn in new investment from the University of California endowment....
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