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...Apollo Global Management improperly agreed to pay $570mn to cover the tax bills of its top executives as part of a shake-up aimed at distancing the private equity firm from its scandal-plagued founder Leon...
...GFG Alliance said: “Greensill’s facility expressly permitted Prospective Receivables.”...
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...This month, Chemours, a spinout of DuPont, said an investigation revealed that its senior management showed a “lack of transparency” when approached about accounting irregularities....
...Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management company expenses...
...Kent left Zurich in 2020 and went on to become head of credit risk management at GFG Alliance. Kent previously did not reply to a request for comment from the FT....
...Blackstone’s credit and insurance division will buy the US credit card receivables from Barclays for an undisclosed sum, and the bank will continue to service the accounts for a fee....
...Future of Asset Management North America Hosted by the Financial Times, in collaboration with Ignites and FundFire, Future of Asset Management North America is taking place on September 27-28 at etc.venues...
...and Serbia 200th day of the Hamas-Israel conflict after Hamas launched an attack on Israel on October 7 last year UK: 100th anniversary of both the first radio broadcast by a British monarch, George V...
...Near and longer-term operational and financial impact is mitigated by management actions and OEM compensation that has now been secured....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...It also agreed to guarantee an existing “tax receivable agreement”, $294mn worth of payments to Och and a group of early Och-Ziff colleagues, payable over several years....
...This matter was reviewed by executive management and in discussion with the Board it was decided to appoint an external professional services firm (Big Four Accounting Firm) to assist in performing a number...
...Rithm will also separately assume $173mn that Sculptor will be obliged to pay Och and other fund founders over several years under what is known as a tax receivable agreement....
...On Monday, PacWest Bancorp announced it had sold a $2.3bn portfolio of loans to Ares Management for around 90 cents on the dollar in cash, part-financed by Barclays....
...The OSC said Emerge Canada had been calculating its excess working capital by including a “related-party receivable” owed to it by Emerge Capital Management, also known as Emerge US, the sub-adviser to the...
...s Sujeet Indap, Ortenca Aliaj and Antoine Gara explain, the billionaire investor is in line to receive the majority of the $173mn owed to Och and the other founders stemming from something called a tax receivable...
...STANLEY implemented a series of remedial measures to create clearer policies governing its ability to communicate with the buy-side in advance of block trades and trained its employees on those policies; (v)...
...The party is also under pressure to explain precisely how it hopes to improve Britain’s cash-strained public services while maintaining its pledge of fiscal discipline....
...FT Live event: Future of Asset Management Asia The Future of Asset Management Asia is taking place for the first time in-person on 11 May at the Westin Singapore and will bring together Asia’s leading asset...
...wirehouse brokers to ensure that across the Midwest, the advisory relationship between Bob Roberts III and Bill Williams IV gets passed down intact to Bob “Chip” Roberts IV and Bill “Scooter” Williams V....
...The sums are listed as “receivables from the manager”....
...About 75 per cent of Apollo’s assets under management are in private credit....
...Smart reads Tax-receivable tiff Court cases allege that private equity giants used obscure tax deals to enrich executives at shareholders’ expense, The Wall Street Journal reports....
...In those transactions, a pool of assets — such as mortgages, credit card receivables or auto loans — are packaged together, with the interest payments funding new slices of debt that are sold on to investors...
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