A steep decline in asset sales from its private equity portfolio, coupled with lower transaction fees, saw KKR & Co Inc’s after-tax distributable earnings fall 26% year-on-year in the first quarter of 2023, according to a report by Reuters. With higher interest rates, ongoing geopolitical tensions, and market volatility all
A $12.7 billion venture capital fund set up by New York-based hedge fund Tiger Global Management in October 2021 to support tech startups, has been hit hard by a decline in tech sector valuations with the fund suffering a 20% net loss as of December last year, according to reports.
Portfolio company valuations in the global private equity market remain at an elevated level meaning companies are having problems exiting their investments, according to Edwin Conway, global head of BlackRock Alternatives.Â
Great Point Partners, a Greenwich, Connecticut-based private investment firm, has opened an office in London as part of its strategy to integrate its North American and European operations to support existing and prospective portfolio companies.
Investec Bank (Investec) has appointed Marc Potel as head of industrials M&A. He will support the growth of Investec’s European M&A footprint, which has expanded from 20 to 120 people over the past five years. Potel joins Investec from Jefferies, where he spent five years as head of general industrials
Apollo has strengthened its footprint in Europe with an expanded regional hub in London, in line with its broader global growth strategy. The US private equity giant is bringing together its teams from offices at 10 Portman Square and 25 St George Street into a new construction location at 1 Soho
US private equity giant KKR’s co-CEOs are aiming to double earnings over the next five years, as founders Henry Kravis and George Roberts prepare to hand over control of the firm, according to a report by the Wall Street Journal. Under CEOs Joseph Bae and Scott Nuttall, who took the reins from
Copenhagen-based mid-market private equity investor Polaris has acquired a majority shareholding in Sealing System, a Scandinavian supplier of intralogistics and full-scope automated packaging and palletizing lines. Established in 1998 in Grindsted, Denmark, Sealing System offers complete, automated end-of-line and intralogistics solutions, which optimise processes and production while ensuring efficient track
Luxembourg-based global venture capital firm Runa Capita has opened a Paris office. Max Corbani, who recently joined Runa Capital as a Senior Associate, will lead the growth of its investment focus in the French startup ecosystem.
Venture capital executives are more cautiously optimistic on their fundraising prospects for this year, in contrast with a comparatively downbeat outlook among private equity peers, according to S&P Global Market Intelligence’s new 2023 Private Equity Outlook Survey. The report surveyed a total of 511 private equity, venture capital and limited
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