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...“I would always be cautious about any company that does not have its dividend covered,” said Nate Koppikar, a partner at hedge fund Orso Partners, which has bet against Blackstone shares....
...Treasure chest Shareholders are starting to ask questions over who really owns the art on companies’ balance sheets, the FT’s Leo Lewis writes....
...Blackstone was one of several parties to bid for the company as it went through a strategic review in recent months....
...Shareholders last year voted against the continuance of the company, sparking a strategic review by a new board and ultimately a sale process....
...“I have sat here for 22 years as the chair and CEO of this company since we went public and I’ve seen nothing but competition. So this is no different....
...This investment vehicle aims to make the classic private equity strategy of buying companies, loading them up with debt and then turning them around, available to smaller investors....
...TPG sold a controlling stake in the talent agency CAA to Artémis, the holding company of the Pinault family, at a $7bn valuation....
...Private equity groups such as Blackstone expect that falling interest rates will spur an increase in dealmaking that will allow the industry to exit $3tn of unsold private company investments....
...Disney has also hired JPMorgan as an adviser in negotiations to buy the remaining stake of streaming service Hulu from rival Comcast....
...No mention of the B-word, then....
...“Once companies, especially financial services companies, get to the $50bn market cap, their stock performance suffers,” Nuttall said. “Investor returns become more anaemic. Their growth slows.”...
...Private equity group Carlyle and Abu Dhabi investment group IMI have agreed a fresh debt funding package for the Barclay family’s Very Group, the Liverpool-based retail and financial services group....
...Josep M Colomer Georgetown University, School of Foreign Service, Washington, DC, US...
...But the private capital boom is echoing his world: entrepreneurs such as Elon Musk are building vast privately held companies, as “unicorns” (private companies with $1bn-plus valuations) multiply....
..., the company said in an announcement....
...In a report on Thursday, Institutional Shareholder Services said that Peltz “could be additive to the succession process” once Disney chief executive Bob Iger steps down....
...The company also raised a $725mn fixed-rate loan with a coupon of 7.63 per cent....
...Leverage has been applied ‘downstream’ at the portfolio company level, ‘upstream’ with recourse to GPs and LPs, and ‘midstream’ to the funds that own portfolio companies in the form of NAV loans....
...Because a company can file bankruptcy in whatever district any one of its dormant shell company affiliates first files bankruptcy....
...The £1.3bn of so-called class B debt, which is still inside the ringfence but has a lower-ranking claim on the company’s cash flows, could be hit with even deeper 35-40 per cent impairments....
...A major shift will occur next year when the ESPN sports network, a longtime profit machine, will become available as a streaming service....
...This knowledge, Blackstone said, stemmed from its portfolio of hundreds of companies and thousands of real estate positions which together provided on-the-ground data points as economic portents....
Pressure eases on Breit after dash for withdrawals caused the group to put limits on requests
...Barclays operates a partnership model in the US market, running co-branded credit cards for 20 companies including The Gap, JetBlue Airways and the AARP....
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
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