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...that has been fast expanding beyond traditional tax and accounting into consulting services....
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
...The firm’s administrators, represented by Mishcon de Reya, said in written arguments that the couple received at least £23.9mn from LCF and spent “large sums” on luxury travel and dining at exclusive restaurants...
...It concluded that Apollo’s limited partnership agreements, with pensions and sovereign wealth groups, stated that such travel and dining expenses should be borne by Apollo, not the funds and its investors...
...Rashid, who had been fired from Apollo and repaid the expenses, offered an intriguing defence: He said he believed Apollo, not the funds, was reimbursing him for, among other things, restaurant boondoggles...
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...It also opened proceedings against Meta over whether the group’s new “pay or consent” subscription model complied with the DMA requirement for gatekeepers to obtain user agreement to “combine or cross-use...
...In its complaint, the FTC argued — as expected — that the tie-up would lead to higher prices, plus lower product quality and services for consumers....
...Dechert has hired Brian Miner as a partner in its corporate and securities practice group. He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...Greater user choice may sound fine in theory, they argue, but it will challenge fundamental aspects of how services work....
...Restaurant margins were at 16 per cent, up from 12 per cent the previous year. Shares of Yum China are up more than 40 per cent from the 2022 low....
...All three groups declined to comment....
...The valuation of the rest of the S&P A week or two ago, we wrote a piece implying that the Magnificent Seven tech stocks were not, as a group, in a bubble....
...In 2017, Restaurant Brands bought Popeye’s Louisiana Kitchen for $1.8bn in cash to get into the chicken sandwich game. And in 2021, Restaurant Brands paid $1bn in cash for Firehouse Subs....
...Ant’s bid for Credit Suisse Securities (China) Ltd, which includes investment banking and brokerage services in mainland China, could complicate UBS’s plans to dispose of its stake in the unit....
...Last month, private equity group McWin announced a deal to buy a majority stake in high-end Italian restaurant Big Mamma Group....
...ISS said the board had tried to justify the increase in Botín’s pay by pointing to the group’s strong results and shareholder returns, as well as the need to stay competitive with rivals....
...They are executing competent food and excellent service. As a business, there’s no reason it shouldn’t do well. They’ve even picked a good name to stick over the door....
...TCI and Pershing Square are the youngest funds on the list, competing with older groups such as Millennium and Citadel, which were founded in 1989 and 1990 respectively....
Search group now accepts advertising for crypto funds but still bans marketing of initial coin offerings
...Over the past few months ExxonMobil agreed to acquire shale group Pioneer Natural Resources for $60bn, Chevron reached a deal to buy Hess for $53bn and chip design toolmaker Synopsys announced the takeover...
...Below is a small representative group that, just on the numbers, caught my eye....
...It followed a stand-off between the then government and the tech sector that led to Google warning it would shut down its search services in Australia....
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