Private Equity

Global private equity firms are sitting on more than $2.1 trillion in “Dry Powder.” Their investment decisions and purchasing power will shape the public and private investment markets in ways that shape the future of the global economy. DailyAlts provides constant updates and insights on deal-making, regulatory shifts, global capital flows, and more.

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Private Credit: Coronavirus to Shift Market in Profound Ways

Private credit has been one of the fastest-growing areas of the credit market since the great credit crisis ended a decade ago. As banks stepped back from small and mid-market lending, especially in riskier areas like expansion and takeovers, funds sprang up to fill the void for a price. Institutions pensions placed enormous sums of money in private credit vehicles to capture higher yield as interest rates on other fixed-income investments declined steadily. The private credit markets have grown from just $237 billion in assets in 2008 to an estimated $812 billion today. That’s a growth rate of almost 12%. Some estimates say that 70% of small to midsize businesses are at least partially financed by private credit funds. Private Credit and Coronavirus Coronavirus will challenge and could reverse the rapid growth of private credit. It is going to be a lot harder to raise money in the private credit business until we know the full impact on the economy and financial markets. There is a real chance that pension funds, one of the biggest investors in private credit, will have to add to their equity portfolios. A significant market decline could trigger an asset allocation shift towards stocks. That…

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Private Equity: Sycamore Partners Eyes Deal to Purchase Victoria’s Secret
February 10, 2020

Sycamore Partners is considering a deal to purchase Victoria’s Secret from L Brands (NYSE: LB). CNBC reported a possible deal Sunday while citing sources close to the matter. Sycamore manages…

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Private Equity: Goldman Sachs to Launch $8 Billion Buyout Fund
February 10, 2020

West Street Capital Partners – the private equity arm of Goldman Sachs – will start fundraising next week. The PE shop is part of Goldman’s ambitious effort to raise $8…

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Private Equity: Count Vanguard in as a Competitor in the Space
February 6, 2020

Vanguard, the world’s largest investment firm, has entered the private equity business. The firm will provide PE in a suite of new funds and target pensions, endowments, and other institutions….

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Private Equity: Black Dragon Capital Buys 100% of Grass Valley, a Media Technology Company
February 6, 2020

Black Dragon Capital, a private equity firm, has agreed to acquire all of Grass Valley from Belden Inc. (NYSE: BDC), reports TVTechnology. According to a statement, Black Dragon intends to…

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Private Equity: Carlyle Group Reports Fourth Quarter Earnings
February 5, 2020

Carlyle Group (NYSE: CG) is the last of the “Big Money” private equity and asset managers to report fourth-quarter earnings. It was a solid quarter for the Washington DC-based alternative…

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Private Equity: Humana Enters JV to Open New Medicare Advantage Centers
February 4, 2020

Humana (NYSE: HUM), the U.S. insurance giant, has launched a joint venture with a private equity firm. The agreement will see Humana launch new primary-care centers for Medicare Advantage enrollees….

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Private Equity: Blackstone Tactical Opportunities Announces $1.4 Billion Final Close of Phoenix Tower International Project
February 4, 2020

Blackstone Tactical Opportunities funds completed the recapitalization of Phoenix Tower International. The deal will allow the wireless communications infrastructure provider to execute on its global infrastructure business plan.. Tac Opps has…

Private Equity: KKR Reports Q4 Earnings
January 31, 2020

The KKR earnings report arrived this week. The alternative investment giant said that assets, fees and book value all grew by double digits in 2019. Revenues for the quarter ending…

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Private Equity: Unigestion Boosts New Fund, Aviva Investors Launches High Yield Fund
January 31, 2020

Unigestion, a Swiss-based PE firm, has launched a new Luxembourg-domiciled fund. Its Unigestion Secondary V will focus on secondary opportunities and deals below 50 million euros. “Unigestion follows a rigorous…

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Private Equity: Apollo Global Management Reports Earnings
January 30, 2020

Apollo Global Management earnings arrived this morning. Apollo reported fee-related earnings of $0.59 per share for the quarter and $2.19 per share for the full year. That is a gain…

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