Hints and tips:
...In its financial filings, Breit warned that if it is unable to generate enough cash flow from operations to fully fund the distribution, the payout may be made through additional borrowings, asset sales...
...“There are enough things in LPs’ portfolios that they can price at a smaller discount today and that makes them feel better,” Miller said....
...Lightspeed, which has $25bn in assets under management and has made early investments in Snap, Rubrik and Nest, had approached investors about selling a portfolio of 10 holdings it values at roughly $1bn...
...“The entire equity fund management sector saw large outflows in 2023 and it is impossible for us to avoid that trend,” Terry Smith, founder and chief executive of Fundsmith, told the Financial Times....
...Blackstone also part owns Hipgnosis Song Management (HSM), the manager of Hipgnosis Songs Fund....
...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....
...One scoop to start: Brookfield Asset Management is in advanced talks to buy a majority stake in $22bn private credit manager Castlelake as the world’s second-largest alternatives group uses acquisitions...
...Peltz is seeking board seats for himself and former Disney chief financial officer Jay Rasulo....
...Those asset sales are propelling the growth of KKR’s credit business, which has become the group’s largest business line by assets with $219bn under management....
...“I want to thank our shareholders for their trust and confidence in our board and management,” Iger said....
...The new financial benchmarks signal rising optimism at the investment group after a period of stagnation and management turmoil....
“Does this seem like fair journalism to you?”
...The Financial Times reported last month that Blackstone has built a $560mn liability to the US as a result of its return promise after the fund lost value last year....
...The second key point is that the sector’s leaders need to learn from financial history about what not to do when faced with protest....
...Apparently, Apollo Global Management has other priorities....
Best-performing managers’ punchy bets on stock markets paid off in 2023
...That included loans associated with some marquee buyouts including Elliott Management’s takeover of technology business Citrix, Elon Musk’s purchase of social media company Twitter and Apollo’s acquisition...
...For BXPE, Blackstone is taking 12.5 per cent of the profits along with a management fee of 1.25 per cent — somewhat less than the traditional “2 and 20” structure....
...Peltz’s fund, Trian Partners, has nominated two board directors for Disney’s board at the company’s annual meeting on April 3: Peltz himself and Jay Rasulo who was previously Disney’s chief financial officer...
...It said: “We are comfortable that management has a viable plan to address the important matters facing the company.”...
...Blackstone, with $1tn in assets under management, is the world’s largest alternative asset manager....
...The backlog is four times larger by value than it was during the global financial crisis. Not all these unsold companies will be duds....
...A rival comes for Elliott’s crown Elliott Management seems to be getting along better with Corporate America. And some other shareholders out there are not so happy about it....
...Canada’s Brookfield Asset Management also studied a bid but decided not to move forward, said two people briefed on the matter....
...Sam Pollock, chief executive of Brookfield’s infrastructure investment arm, told the Financial Times that he believes a “deglobalising” world, where large companies are bringing production closer to home...
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