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...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...A month later the New York-based firm said it had acquired private credit firm Iron Park, a business set up by Tripp Smith, a former Blackstone credit executive....
...On a conference call with analysts in January, Gray said Breit had “weathered the storm” in real estate markets, but he warned that Blackstone did not expect to see a “V-sharped recovery” in property values...
...The trio — Moore Kingston Smith in the UK and Moore Belgium, both backed by Waterland, and New Mountain Capital-backed Citrin Cooperman in the US — posted revenue growth more than double that of Moore Global...
...“We would acknowledge that this is not going to be some sort of a V-shaped recovery. There are going to be plenty of troubled deals in the market,” added Gray....
...And DS Smith isn’t alone....
...In the US, almost a 10th — $850bn — of the life insurance market is owned or managed in partnership with private capital groups, according to the IMF....
...The three US private equity groups are considering bids ahead of the deadline, said people familiar with their positions, although their interest remains preliminary....
...Take a break from the news V-necks have been verboten for as long as most of us can remember, writes Teo van den Broeke....
...But as DD’s Antoine Gara reports in this deep dive, the industry is dominated by a small group of dealmakers who cut their teeth competing on arcane deals in the US in the early and mid-2000s when the asset...
...Citigroup has been in a far worse position after divesting Smith Barney near the market bottom....
...possibility of bidding war for DS Smith (FT) CBI admits to using non-disclosure agreements to silence staff (FT) Visa and Mastercard agree $30bn settlement over US transaction fees (FT) Bertelsmann would...
...US firm Alvarez & Marsal has hired Middleton and Wong within the last five years as a key part of a push to build up a China restructuring and liquidation business....
...News round-up Smith & Nephew seeks pay premium for US executives over those in UK (FT) Thomson Reuters has $8bn war chest for AI-focused deals, says chief (FT) Elliott abandons effort to buy UK electronics...
...That was before DD’s Robert Smith and FT investigative journalist Cynthia O’Murchu exposed that H2O had poured nearly €1.5bn into Windhorst’s network of rickety ventures back in 2019....
...During his speech in Athens in 2006, European Central Bank vice-president Lucas Papademos quoted Adam Smith’s warning against collusion: “People of the same trade seldom meet together even for merriment...
...“Arm is the great asset for us. I think that’s something that I can say now,” he said....
...US banks Paper losses on the most opaque part of US banks’ bond portfolios are now close to $400bn — an all-time high, and 10 per cent above the peak at the start of the year that caused the collapse of...
...agree a $140mn settlement in 2020 with US authorities to resolve a criminal tax investigation....
...He joins from Herbert Smith Freehills. Birkenstein Capital, a new German special situations investor partnered with Davidson Kempner, will be led by Tobias Hoffmann-Becking....
...“The back half of the decade is now upon us.”...
...in late 2020 with US authorities to resolve a criminal tax investigation....
...Smith’s style is to invest in a small number of “high quality, resilient, global growth companies”, primarily in the US, that he aims to hold for the long term....
...Fast forward to 2023 and it’s a far different story, DD’s Antoine Gara reports, as its fundraising struggles and a failed succession plan has caused it to fall behind rivals such as Blackstone and KKR....
...A portrait of the bewhiskered duke — later George V — stares down at us....
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