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EG Group aims to use the proceeds to reduce its $9bn debt and fund expansion, with a focus on strengthening its US operations. Ahead of the IPO, EG Group has taken steps to optimise its financial structure, including divesting non-core assets. The IPO will reportedly value the UK-based firm at approximately 10.7bn ($13bn).
Schroders is shutting down its AUD100m ($63m) Australian private-debt business, citing increased competition in fundraising and sourcing investments, according to a report by Bloomberg citing CEO and Chief Investment Office Simon Doyle.
BDCs are a type of business that invests in the equity (common and preferred stock) and/or debt of middle-market companies. 30, PennantPark held nearly $1.984 billion in assets. billion in debt securities. This makes PennantPark a primarily debt-driven BDC. billion debt portfolio is first-lien secured.
BNP Paribas Asset Management has appointed Linda Fodil and Thibault Sartori as Private Debt Investment directors to support its new direct lending strategy. Both will be based in Paris and report to Christophe Carrasco, Head of Private Debt.
Japans Pension Fund Association for Local Government Officials (Chikyoren) has selected four firms two from the US and two from Japan for a global private equity mandate, according to a report by Asia Asset Management. Additionally, it has appointed one firm each from the US and Japan for a global private debt mandate.
The move comes after the food company failed to refinance significant debt. Hearthside, which produces a range of food products including frozen burritos and crackers, filed in a Texas court on Friday, listing assets and liabilities between $1bn and $10bn. Bloomberg had reported last week that a bankruptcy filing was imminent.
A consortium of private credit funds, including Antares Capital, Blue Owl Capital, KKR, and Goldman Sachs Asset Management, has agreed to take control of Alacrity. When BlackRock made its investment, Alacrity carried around $1bn in senior debt and $500m in junior debt, financed by Goldman Sachs wealth management division.
Brookfield Asset Management is targeting at least $7bn for its fourth infrastructure debt fund, expanding one of the largest strategies in the sector. The new fund will invest in both junior and senior infrastructure debt, continuing Brookfields established approach. Read more here. Read more here. Read more here.
These destinations are among our highest-rated guest experiences today, and we have plans to lean into these assets even further. While historically, the marketing of our own assets have really focused on the ships, we have untapped potential to create demand for these amazing destination experiences. We ended 2024 with $27.5
The embattled UK utility, which serves 16 million households and carries nearly 20bn in debt, is aiming to secure billions in new equity by the end of June to stave off insolvency. Some bids may also include options for creditors to convert part of their debt into equity, potentially reshaping the companys financial structure.
in a deal that could exceed $10bn, including debt. Brookfield has a track record of investing in major pipeline assets worldwide. Sources familiar with the matter indicate that Brookfield has advanced past rival infrastructure funds and strategic buyers following the submission of final offers last week.
Ian Simes, Managing Partner and Co-Head of Brookfields infrastructure debt and structured solutions businesses, highlighted investor appetite for the funds strategy, while his counterpart, Hadley Peer Marshall, noted the firms ambition to grow BISS to a scale similar to Brookfields existing infrastructure debt and equity funds.
Secondly, and simultaneously, we continue to migrate our operating platform to an asset like configuration. debt to total capital ratio. We are extremely well positioned to spin Millrose and to be able to continue to repurchase shares and reduce debt as we have driven strong overall operating results to date.
CEO Alan Waxman highlighted how streaming and digital distribution have broadened the global appeal of live sports, making them an increasingly attractive asset class. Sixth Street has aggressively expanded into sports, holding investments in the NBAs San Antonio Spurs and European football giants FC Barcelona and Real Madrid.
GSAM has committed $150m of its own capital to the fund, which will primarily target senior lending opportunities but retain the flexibility to provide junior debt when needed. He noted a growing demand for Balbecs asset-based and specialty finance strategies as investors seek diversification. Can’t stop reading? reaching its.
Partners Group plans to invest in these assets to enhance their operational efficiency and environmental performance. This transaction underscores the growing interest of private equity firms in the energy sector, particularly in assets that can provide stable returns while contributing to the energy transition.
However, it also loaded the company with debt. billion of CrownRock's existing debt. The oil company plans to significantly reduce its debt in the coming years to ease the potential pressure on its balance sheet. Lightning quick progress on its plan Occidental Petroleum set a target of reducing its debt principal by at least $4.5
.; chairman, president, and chief executive officer of the company; Steven Hamner, executive vice president and chief financial officer; Kevin Hanna, senior vice president, controller, and chief accounting officer; Rosa Hooper, senior vice president of operations and secretary; and Jason Frey, managing director, asset management and underwriting.
However, the oil stock took on a boatload of debt to close the deal (it issued $9.1 billion of new debt while also assuming $1.2 billion of CrownRock's existing debt). Because of that, the company's near-term focus is on paying down its debt as fast as possible. Those sales will give it $970 million to repay debt.
The transaction values Viridium at 3.5bn, including debt. Since then, the insurer has expanded through acquisitions, including Skandia and Entis, growing its assets under management from 5bn to 67bn and its policyholder base from 600,000 to 3.4
Two additional key performance indicators that management will be discussing on this call are net asset value, or NAV, and return on equity, or ROE. NAV is defined as total assets minus total liabilities and is also reported on a per share basis. On today's call, I will provide my usual update regarding our performance in the quarter.
Sign Up For Free Rapidly repaying debt Occidental Petroleum made a needle-moving acquisition last year, closing its $12 billion purchase of CrownRock. The only concern was the debt it took on to close the deal. billion of existing debt and issued $9.1 billion of new debt to fund the purchase. Start Your Mornings Smarter!
The Quality Factor ETF has been around since 2013 and has a massive $50 billion of assets under management. It's a large fund with a robust return history that might just be the perfect investment in an uncertain market. This unsung ETF could be your portfolio's new best friend This is not a new concept.
The oil company has been slowly monetizing that position to raise cash to repay debt. The company's midstream assets generate very stable cash flow. Fee-based contracts with Occidental and other customers support 95% of its gas infrastructure and 100% of its crude oil assets, protecting it from commodity price exposure.
billion indirectly through share repurchases, all while reducing debt 35%. And we continue to improve our capital efficiency by leveraging technology and innovation across both our foundational and emerging assets. And it reflects our confidence in the increasing capital efficiency of our business going forward.
HPS Investment Partners, a global firm with approximately $117bn in assets under management as of June 2024, operates across various asset classes, including debt, liquid credit, asset-based finance, and real estate.
One factor driving its elevated yield is concerns that the company's hefty debt level might impact its ability to sustain that payout over the long term. The company's debt is on track to balloon further after it agreed to buy Frontier Communications (NASDAQ: FYBR) in a $20 billion all-cash deal. billion of total debt (and $122.8
Maven Partners Ryan Bevington and Jeremy Thompson spearheaded the investment from the firms Manchester office, with ThinCats providing senior debt funding. Led by Group CEO Andrew Kilmartin and UK CEO Dave Clayton, the company will use the investment to scale its operations and broaden its international reach.
Joining from Ares Management and KKR, the new hires will focus on asset-based debt, according to a report by Bloomberg. Goh, who most recently worked at Ares managing asset-based deals across both private and public markets, will begin her new role in early January.
But you may also be struggling under the weight of a lot of debt that could limit your ability to grow your wealth. Here's how much the average adult in their 30s is worth Net worth is simply a measure of your assets minus your liabilities. Liabilities are debts, like mortgages , auto loans, personal loans, and credit card debt.
As insurers continue their search for higher yields, many are turning to private credit investments, particularly in asset-based finance opportunities. Key areas of focus include consumer finance, commercial finance, hard assets, and financial assets, Moodys noted in its Tuesday report.
The company is debt free and had a liquidity position of about $1.3 SPDR S&P 500 ETF Trust The SPDR S&P 500 ETF Trust (NYSEMKT: SPY) isn't a stock, but it's an asset that allows you to invest in the performance of a number of stocks. I also like Chewy's financial health. billion at the close of the latest quarter.
of its total assets. Alternative investments make up a substantial portion of MainePERS’ portfolio, accounting for 57.5% This category includes private equity, infrastructure, natural resources, alternative credit, real estate, and risk-diversifying strategies.
This transaction underscores the importance of strategic partnerships between private equity firms and alternative asset managers in funding large-scale deals within critical industries. read more EG Group targets $13bn New York IPO to drive growth and reduce debt EG Group is gearing up for a $13bn IPO on the New York Stock Exchange.
We continue to be in a strong liquidity position, closing the quarter with 348 million in cash and cash equivalents and no debt outstanding. So, we are acquiring the assets and liabilities of the IMG ARENA business, and we will provide more color on what that entails once we get closer to closing. dollar-denominated sports rights.
Image source: Getty Images Americans have a lot of misunderstandings about debt, especially when considering small business loans. Small business loan debt is a tool Too often, Americans think that being in debt is some kind of moral failing or weakness. But debt is not inherently bad or good -- debt is a tool.
Two additional key performance indicators that management will be discussing on this call are net asset value or NAV and return on equity or ROE. NAV is defined as total assets minus total liabilities and is also reported on a per-share basis. Ryan will discuss our NAV per share increase in more detail.
Sources indicate that Rocket Software could be valued between $8bn and $10bn, with private equity firms likely to compete for the asset. The private equity firm has engaged financial advisors Moelis & Co and RBC Capital to oversee the process, which is expected to begin in the coming weeks.
We ended the quarter with cash and liquid assets of $369 million inclusive of approximately $162 million in advanced cash payments. Launching our new growth strategy with CareScout has been made possible by the financial flexibility we've built over the last decade, reducing debt from $4.2 Our liquidity position remains strong.
One is the massive wealth transfer that will occur as younger generations, more comfortable with digital assets, inherit a total of trillions of dollars from their predecessors. Unlike older generations, millennials and Gen Zers are more inclined to invest in decentralized digital assets like Bitcoin, which could drive significant demand.
These funds, which saw rapid growth between 2019 and 2021, provide fresh capital to high-potential assets, ensuring continued value creation. Private equity firms are increasingly using continuation funds to extend ownership of portfolio companies. Continuation funds are particularly valuable in slower dealmaking environments.
Private equity funds returned 3.09%, slightly edging out private credits 3.06%, driven by increased buyout activity, lower interest rates, and narrowing private debt spreads. iCapital, which manages over $200bn in alternative assets, has observed a significant shift in allocations.
BlackRock made headlines in late 2024 through the firms acquisition of HPS Investment Partners , backed by their expectation that the private debt market will more than double to $4.5 The sector has become extremely attractive for investors, with LPs and asset managers pouring money into private credit. trillion by 2030. [2]
Point72 Asset Management, the hedge fund founded by Steve Cohen, is entering the booming private credit market with a new strategy headed by Todd Hirsch, a former senior managing director at Blackstone, according to a report by Reuters citing an internal company statement.
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