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International hedge funds and privateequityfirms are increasingly investing in Lloyds of Londons tax-exempt investment vehicle, as the 300-year-old UK institution expands its efforts to attract global investors, according to a report by the Financial Times.
Brookfield Asset Management is targeting at least $7bn for its fourth infrastructure debtfund, 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.
Buyout firms have long relied on controversial loans backed by equity stakes to enhance fund returns, but growing investor criticism has triggered a slowdown, according to a report by Bloomberg UK. Many firms borrowed against their portfolio companies to sustain the private market boom while dealmaking dwindled.
Private credit has become an integral part of the financing solutions available to support corporate growth and there is an increasing demand for debt capital from well-established and high-growth software and technology businesses, which typically have leading market positions, resilient customer base and strong financial fundamentals.”
Privateequityfirm KKR & Co agreed to acquire Varsity Brands, a U.S. maker of sports uniforms and school yearbooks, from buyout firm Bain Capital for about $4.75 billion, including debt, people familiar with the matter said on Wednesday.
European utility Engie has joined forces with Canada’s second-largest pensionfund to try to buy British power network Electricity North West (ENWL), according to two sources with knowledge of the matter. Read more South Korea’s Hahn & Co raises $3.4bn for new buyout fund Aircraft landing gear maker Héroux-Devtek Inc.
South Korea’s sovereign wealth fund, Korea Investment Corporation (KIC), is set to invest $150m in Apollo Global Management, the world’s second-largest privateequityfirm. As global funds seek alternative markets for investments and fundraising due to restrictions in China, Korea is emerging as a focal point.
The Ares Asia Direct Lending fund, the company’s first leveraged buyout vehicle for the region, has deployed over A$1.04 as it was delisted by privateequityfirm TPG Inc.; Allegro Funds as it acquired fuel retailer Gull New Zealand; and BGH Capital’s payments platform Pushpay, the firm said. has raised A$2.6
Sources previously told Reuters that Galderma intended to raise a large amount of fresh capital through its IPO to pay down debt, leaving it exposed to market volatility. billion of debt maturing in 2026, according to Fitch Ratings. The dermatology group posted $3.8 The dermatology group posted $3.8 The company has more than $3.5
privateequity is about to get a big boost from Australia’s largest pensionfund. AustralianSuper, which manages nearly US$200 billion, tells Axios that it plans to double its global privateequity exposure over the next five years, with between 70-80% of those new dollars heading to the U.S.
Canada’s OMERS and Dutch pension investor APG have agreed to buy Netherlands-based energy infrastructure solutions firm Kenter, according to a draft announcement of the deal seen by Reuters and confirmed by the purchasers. OMERS, which has C$124.2 billion ($93.67 Source: REUTERS Can’t stop reading?
Australia’s largest pensionfund AustralianSuper has written off over AUD1.1bn in equity and loans linked to US-based online education start-up Pluralsight, marking the fund’s largest single loss in its venture capital investments to date, according to a report by the Australian Financial Review.
Yet, like its peers, Ares feels compelled to diversify into other asset classes, such as real estate, infrastructure, and privateequity. The attractions of sticking with private credit are obvious. Yet even there, private credit plays an outsize role. percent, less than the firm’s industry-low ten-year average of 2.4
Mathieu Teisseire, Managing Partner and Head of Investor Relations at Eurazeo, expects Japan to be “the fastest growing investor base” in Asia over the next year, according to a report by PrivateEquity International. There is currently no set headcount target for the new North Asia branch.
Since inception in 2015, Vistara has raised over $500m, primarily from non-institutional sources such as family offices, entrepreneurs, and private foundations, predominantly based in British Columbia. read more Apollo Set to Make $6.26bn Bid for UK’s Pension Insurance Corporation Privateequityfirm Apollo Global (APO.N)
Singapore- and New Delhi-based privateequityfirm Quadria Capital has marked the first close of its third investment vehicle. “We are on track to reach our final target for this fund, which puts us in good stead to execute our strategy and capitalise on a rich pipeline of opportunities.”
This approach has expanded its assets under management more than fourfold to €246bn, through deals such as the €6.8bn acquisition of Barings PrivateEquity Asia in 2022, establishing a significant presence in Asia, and Exeter Property Group in 2021, specialising in industrial warehouses.
The equity commitments follow the company’s recent debt refinancing announced in June and together will further euNetworks’ momentum as the company continues to scale and execute against its strategic priorities. Billion Loan for AirTrunk Bid Privateequityfirm Blackstone Inc.
” The raise announced today comprises committed capital investments in energyRe LLC from Glentra Capital alongside co-investors Novo Holdings and Denmark -based pensionfund PKA. The capital package also includes a mandated corporate debt facility to be arranged by Santander and Deutsche Bank.
Layan Odeh of Bloomberg reports CPPIB plows at least $5 billion into privateequity in three months: Canada Pension Plan Investment Board poured at least $5 billion into privateequity in the last three months of 2024 as the asset class regained appeal. 31, according to Bloomberg calculations.
The first is via direct investments, where it holds ownership stakes that vary from passive, minority positions, up to 100% control of private companies. The second is through privateequityfunds run by privateequityfirms, such as KKR and Blackstone. In the U.S., Democratic Sen.
Paulina Pielichata of Pensions & Investments reports CDPQ works to pump $11.2 billion into European private markets: Canadian pensionfund Caisse de depot et placement du Quebec has recently moved into its new London headquarters as it is working to deploy C$15 billion ($11.2 billion) in private markets across Europe.
Privateequityfirms are already positioning to take advantage. PE firms want to take advantage of deep American discounts after office values fell by almost a quarter last year, more than in Europe, following the pandemic work from home shift. That will throw up some problems for credit investors, for example.
(KKR), and includes a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), the Italian infrastructure fund F2i and the Ministry of Economy and Finance of the Italian Government. Now more than ever, we need to attract private investment or we risk seeing a permanent decline in Canadians' standard of living.
Regulators are pushing privateequityfirms to do a better job when it comes to valuing their assets. Carolina Mandl and Chris Prentice of Reuters report US SEC overhauls rules for $20 trillion privatefund industry: The U.S. million Norweigans benefit from the Government PensionFund.
For decades the privateequity model seemed unassailable, transforming the industry’s image from Barbarians at the Gate to crucial pillar of capitalism. Funds raised money, bought businesses, loaded them with debt, exited at a profit and convinced happy investors to do it all over again — at ever greater scale.
They’re one of the older privateequityfirms around, been been in business since 1994. There aren’t a lot of companies, and there aren’t a lot of people that have the historical perspective on the rise of privateequity like Michael Fish does. They run over $27 billion in, in assets.
Then she came across an investor presentation from a different universe: KKR, one of the world’s largest privateequityfirms. By that time, Mr. Stavros had decided to start an organization to promote his model more broadly, hoping to reach the 12 million people who work for companies that privateequityfirms own.
BlackRock has a broad network of global corporate relationships as a long-term investor in both their debt and equity. The over $150 billion combined business will seek to deliver clients market-leading, holistic infrastructure expertise across equity, debt and solutions at substantial scale.
The statement, sent exclusively to the National Post , marks the first time Poilievre has explicitly addressed the issue of Alberta’s proposal to withdraw from the Canada Pension Plan (CPP) and set up its own pensionfund. My take: This is a great deal for BCI and Searchlight, a privateequityfirm BCI seeded.
Swetha Gopinath of Bloomberg reports Ontario Teachers' Pension Plan to co-own financial advisor Max Matthiessen: Ontario Teachers’ Pension Plan (OTPP) agreed to acquire a co-control stake in Stockholm-based financial advisor Max Matthiessen from privateequityfirm Nordic Capital Ltd. www.nordiccapital.com.
It is for this reason that Canadian pension giant BCI finds itself in a rather enviable position. Under the leadership of global head of privateequity Jim Pittman, the C$233 billion ($172.8 BCI's PE program is split almost evenly between funds and directs which now make up roughly 42% of the PE assets. billion; €158.2
Previously Andrew led the Americas Structured Credit and Financials team where he was responsible for investments in sub-investment grade structured credit and debt capital solutions for financial institutions, as well as the intellectual property investment strategy. Invested US$148 million in the senior secured notes of Auna S.A.A.,
. ~~~ BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, another extra special guest from the world of private markets, the Partners Group is probably the largest privateequityfirm you’ve never heard of, perhaps because they were originally headquartered in Zug, Switzerland. in Colorado.
They're going to have trouble refinancing their debt when it eventually comes due. If you're a portfolio manager for a pensionfund and you're looking to invest money, you're probably going to like that lower volatility, because you don't have to worry about the daily fluctuations in stock prices. Then looking at multifamily.
In fact, virtually all of our drawdown funds we've launched in our history, have been profitable for our investors. Our performance has helped secure retirees' pensions, fund students educations, pay healthcare benefits, and protect and grow the savings of individual investors. So, I think cap rates have leveled off as well.
The firm itself could not be in a stronger position with minimal net debt and no insurance liabilities, allowing us to distribute $4.7 Borrowing spreads have tightened significantly and the availability of debt capital has increased significantly. Turning to the second key development, our expansion in privateequity credit.
You had a lot of the big buyout firms, they were doing the transactions in the ‘80s, in the early ‘90s. But, you know, these large firms were spinning off smaller privateequityfirms. So lots of folks work there that now run very large alternative asset management firms and credit arms of firms.,
According to Preqin data, global PrivateDebt AUM has grown from just $310 billion in 2010 to an estimated $1.5 With this context as a backdrop, we chatted with Andrew Edgell, Senior Managing Director & Global Head of Credit Investments at CPP Investments about how he sees privatedebt faring in the credit cycle ahead.
Victor has had a fascinating career, stood up the distressed debt department at Citibank before doing the same thing at Merrill Lynch a few years later. He also spent time at Sebus and More Capital before launching his own firm in 2001. Really just a fascinating person who has seen the distressed debt business from day one.
Paula Sambo of Bloomberg reports Canada pensionfund's credit head wants to take advantage of leveraged buyout boom: Canada’s largest pensionfund plans to nearly double the size of its credit holdings over the next five years, and it’s counting on an upturn in leveraged buyouts to generate some of that growth.
The Ontario fund’s strategy was innovative at the time, and paved the way for what is now known as the Canadian pension model. If the pensionfund falls short, municipalities across the state could be forced to increase payments and cut city services to meet the pension obligations of more than two million Californians.
In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. So we kind of had headwinds and tailwinds in the portfolio, which is the point of diversification,” Graham said.
Perhaps most famously you guys put on a CO bet, a collateralized debt obligation bet that was designed to do well if housing made some extreme moves and it was non-directional, it was hedged. 00:15:57 [Speaker Changed] The firm was built on finding white spaces. So it, it really has and, and pensionfunds, they’re on hold today.
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