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...“Sellers have conceded to lower valuations and the pressure to meet a certain return on investment is ticking,” Pete Stavros, co-head of global private equity at KKR, told the Financial Times at the World...
...on returns, according to its outgoing chief investment officer....
...One of Silicon Valley’s most prominent venture capital firms, Lightspeed Venture Partners, is seeking to use a private equity-style structure to sell $1bn worth of start-up stakes and free up cash to return...
...The bank reported a return on tangible equity — a key measure of bank profitability — of 12.3 per cent, down from 15 per cent last year but ahead of its target of more than 10 per cent for 2024....
...Blackstone has said it will take time for private equity firms, which are sitting on record amounts of unsold assets, to return cash to investors even as the market for mergers and acquisitions comes back...
...The UK’s Coventry Building Society has agreed to buy the Co-operative Bank for £780mn in a deal that would eventually return the private equity-owned lender to mutual ownership....
...pacify investors eager for a return on their capital....
...Asian equities rose in early trading on Friday, with Hong Kong leading gains in the region for a fifth consecutive day....
...US producers have set aside their “genius for destroying capital”, says BCA’s Ryan, and are now desperate to maintain equity and debt market access by generating free cash flow....
...While private universities lose out on returns, public universities are having a triumphant year, Lex writes....
...Jackson’s remarks follow earlier warnings the BoE has issued about the effect on the broader economy of a private equity bubble....
...Despite this dictum, top UK banks often promise shareholders returns on equity that fall short of cost....
...The main pitch of private equity and private credit funds alike is not that their risk-adjusted returns are higher than those of public equity or fixed income....
...Neither approach generates private equity-style returns, or charges private equity-style fees — two areas in which convergence is also likely to apply. camilla.palladino@ft.com...
...(Ethan Wu) Replies on private credit excess returns Yesterday’s piece about excess returns in private credit drew a lot of meaty responses from readers, from all sides of the debate....
...equity return (depending on your global equity weightings)....
...Two seasonal three-night itineraries between Singapore and Penang are now being offered, with hopes that the original through service up to Bangkok might soon return....
...(Ethan Wu) The UK equity discount, redux Yesterday I wrote about the UK equity discount and whether it really exists....
...“To truly understand how dominant they have been, consider that only 5 per cent of the market — around 25 stocks — has delivered stronger returns on a year-on-year basis,” wrote global equity strategist...
...In the 1990s, small caps routinely delivered returns on invested capital in the teens and even as interest rates declined to 1% in the early 2000s, small company investors could expect low double digit returns...
...On most metrics the US economy is in late-cycle, a vantage point from which equity returns have historically been mediocre. Globalisation is in retreat today, while the 1990s saw it at its peak....
...“SOEs used to have lower revenue growth, lower returns on equity and much higher balance sheet leverage than private companies....
...Equities in Hong Kong outperformed the rest of Asia on Wednesday as the city’s benchmark index reversed losses for the year to date....
...But perversely, public universities that rely on public market investing have triumphed of late....
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