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...Norway’s $1.6tn oil fund is the second-largest shareholder in UBS, behind BlackRock, having increased its stake from 3.5 per cent to 5 per cent when the Credit Suisse takeover was completed last summer....
...that has been fast expanding beyond traditional tax and accounting into consulting services....
...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....
...UBS declined to comment....
...This story has been updated to incorporate comments from BDO USA, including information on the use of funds from Apollo...
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...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...
...” said James Elbaor, the head of Marlton LLC, a Chicago-based hedge fund that is a Pershing Square Holdings shareholder....
...China’s “national team” of major state-backed financial services companies has ploughed Rmb410bn ($57bn) into local equities exchange traded funds so far this year, according to UBS estimates....
...“In anticipation of evolving regulation we renamed two US sustainable money market funds,” UBS said. Morgan Stanley did not respond to a request for comment....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...Cannae is the vehicle of Bill Foley, the multi-billionaire who made his fortune in a series of financial technology and financial services companies....
...fund, according to people familiar with the firms....
...“Tax and audit work is being replaced by technology and the lowest price is winning, hence the transformation to consulting and advisory services....
...UBS owns a 51 per cent stake. UBS, Citadel and Ant declined to comment. The China Securities Regulatory Commission did not immediately respond to requests for comment....
...US billionaire Bill Ackman’s hedge fund Pershing Square rejoined the top 20 hedge funds after leaving the rankings in 2015. It was up 27 per cent in 2023, making $3.5bn....
...In 2022, Tiger’s flagship fund fell by more than half as its public tech bets were hammered....
...Greater user choice may sound fine in theory, they argue, but it will challenge fundamental aspects of how services work....
...It was cited by BDO USA’s switch from a partnership to a corporation. This was followed by $1.3bn in debt financing from Apollo Global Management to fund purchases of shares by a new employee trust....
...Asset managers from BlackRock to Grayscale have launched an online advertising blitz for their bitcoin exchange traded funds, taking advantage of a change to Google’s marketing rules on promoting cryptocurrency...
...Millennium’s investment and the fact that Taula is seeking to launch with up to $5bn of capital were previously reported by industry information service With Intelligence....
...The third target is UBS itself....
...Job moves Stephanie Cohen, one of the most senior female executives in Goldman Sachs’ history, is leaving to become chief strategy officer of digital services group Cloudflare....
...The two multi-strategy fund managers had been in serious talks for several months over a deal for Schonfeld to manage money for Millennium, giving Englander’s fund access to its more than 100 investment...
...When the bill comes due, Capital One Financial will need to show it has the funds....
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