Managers
Global private investment giant KKR & Co has reported a 23% fall in second quarter earnings compared with the same period last year, but the company’s performance remains ahead of analyst predictions, according to a report by Bloomberg.
Private investment firm Apollo Global Management is planning to sell as much as $1.15bn of convertible stock to help its Athene annuities unit to “capitalise on attractive opportunities” generated by market turbulence, according to a report by Bloomberg.
A golden age of private equity buyouts has come to a end and returns in the $4tn industry will no longer be driven by rising valuations, according to a report by the Financial Times quoting Apollo Global Management Chief Executive Marc Rowan.
His warning comes as the private equity sector faces new challenges presented by a period of lower economic growth and higher interest rates, which makes the cost of borrowing to take companies private, more expensive.
“In the [private] equity business, this year has really marked the end of an era,” said Rowan on Thursday, adding that PE
The focus on meeting the UN SDGs is growing but the lack of progress towards closing the gender gap remains. There is a lot more businesses can do to promote gender equality and Lorraine Spradley Wilson (pictured), Chief Sustainability Officer, Novata, gives practical examples…
Walmart has paid $1.4bn to acquire Tiger Global Management’s remaining stake in Flipkart, in a deal that values the Indian e-commerce giant at $35bn, according to a report by Bloomberg, citing a letter sent by Tiger Global to investors.
After a prolonged deal-making slump, private equity transactions are beginning to be fuelled by an “explosion of private debt”, according to Ken Jacobs, the Chief Executive Officer of Lazard, a financial advisory and asset management firm and one of the world’s largest private banks.
A report by Bloomberg quotes Jacobs as saying in a telephone interview on Thursday that: “The growth of the private credit markets has really supercharged the ability of companies to get financing.”
Jacobs added that he expects that more readily available financing will fuel an uptick in mergers, while companies restructuring their finances may avoid bankruptcy,
A new assessment of the fossil fuel policies of 15 of the largest private equity firms operating in North America and Europe, has found that the sector is lagging behind other investors in terms of action on climate change.
Bain Capital is acquiring 90% of Adani Capital and Adani Housing, in a deal which will buy out 100% of the Adani family’s private investments in the company.
Gaurav Gupta, CEO and managing director, will retain his stake and will continue to lead the company.
Bain has also committed $120 million in primary capital to facilitate the company’s ongoing growth. In addition, Bain Capital is also immediately making available to the Company a liquidity line $50 million in the form of Non-Convertible Debentures.
Rishi Mandawat, partner at Bain Capital, said Adani has “strong business fundamentals, an experienced team, with ability
Guy Hands is stepping down as chief investment officer and chair at Terra Firma Capital Partners, with the firm now set to be led by Paul Hatter as COO and Hands’ son Richard Hands as Managing Director responsible for residential investments and new deals, according to a report by the Financial Times.
Inflexion Private Equity Partners is buying UK-listed global law firm DWF Group in a recommended all-cash offer for £342 million, according to a report by Marketwatch.
DWF shares rose 13% following the announcement on Friday. Its price had earlier risen after the legal and business services provider DWF and London-based middle market Inflexion said last week they were in talks regarding a possible deal.
Under the agreed terms, DWF shareholders will receive a total consideration of 100 pence a share, which includes 97 pence a share in cash and 3 pence a share from a special dividend.
The offer price
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