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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The monthly transaction report from the $280 billion New York State Common Retirement Fund showed an investment outlay of more than $4 billion in June. Significantly, and in a sign of the times, more than 75% of that was plowed into alternatives such as real estate ($2.2 billion) and private equity funds (over $1 billion).
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Blackstone Hires Ram Jagannath to Head Growth Equity Platform
The new senior managing director has two decades of experience in the healthcare and technology sectors Add another senior name to recent Blackstone hires. The firm has hired Ram Jagannath as a Senior Managing Director for its relatively new Growth Equity investing platform. Jagannath will run healthcare investing at the firm’s growth equity business. Before Blackstone, Jagannath…
Blackrock Aims to Cut Fees and Risk in Private Equity Investing
Blackrock is upending the cozy status quo of high fees and high risk in private equity with its $ 870 million investment in Authentic Brands
Blackrock’s Long-Term Private Capital Fund (LTPC) made waves with its inaugural primary private equity deal when it invested $ 870 million for a majority stake in the marketing business of Authentic Brands.
The private equity industry sat up and took notice. But alarm bells are ringing in the industry: Will Blackrock move its cheese?
M&A Deal News – August 16, 2019
Another community bank deal, Softbank loves hotels abroad, and hospitals for sale in the Philippines. M&A Deal News – August 16, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space. Here’s our recap for…
M&A Deal News – August 20, 2019
More community bank mergers, the Chinese buy British pubs in bulk, and artificial intelligence. Let’s look at M&A Deal News. M&A Deal News – August 20, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment…
Cambridge Taps Tilly Franklin as New Endowment CIO
Franklin replaces Nick Cavalla, who left in 2018 for Talisman Global Asset Management. Tilly Franklin is the new CIO of the University of Cambridge’s £3.2 billion endowment fund. The role shouldn’t bring any surprises to Franklin. She has been on the school’s investment board since 2014 and is an alumna. She assumes the CIO role…
M&A Deal News – August 15, 2019
A merger in media, antitrust busts, a REIT sells two hotels… and more M&A deal news M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space. Here’s our recap for Thursday morning. First, Summer Redstone’s entertainment…
RBC Junior Analyst Bill Tsai Faces Insider Trading Charges
The recent NYU grad concealed a trading account from RBC Capital markets. He faces one count of securities fraud that carries a maximum 20-year prison term. Bill Tsai was new to Wall Street. He was the student body president at New York University’s Stern School of Business. He also had a sweet gig at RBC…
Neil Shah Joins Evercore as Senior Managing Director
The Harvard law graduate has 20 years of private equity experience and will launch Evercore’s permanent capital business. Neil Shah will join Evercore’s Investment Banking business as a Senior Managing Director in its Advisory practice. Shah will focus on advising financial sponsor clients in the firm’s New York office. He will also launch and lead Evercore’s…
BlackRock Cuts First Private Equity Deal for Authentic Brands
BlackRock becomes the largest stakeholder in a company with a powerful portfolio of global brands. BlackRock announced over the weekend that it scored a 30% stake in Authentic Brands. The deal means that BlackRock’s portfolio will now include a stake in Sports Illustrated, Nine West, Aeropostale, and Juicy Couture. In addition, Authentic owns more than…
Thoma Bravo Sells iPipeline to Roper Technologies
The $1.625 billion deal is another win for the private equity shop Private equity firm Thoma Bravo has announced it will sell cloud-software firm iPipeline for $1.625 billion. Roper Technologies will make the purchase for a software firm dedicated to life insurance and financial services clients. As a result, the deal ends a four-year partnership…
Blackstone Buys Stake in BC Partners
Raymond Svider’s shop gets a boost of confidence. The Blackstone – BC Partners deal is official. Following a big run up, the U.S. private equity giant plans to invest $560 million into its European rival. Blackstone’s Alternative Asset Management (BAAM)’s Strategic Capital Group will own up to a 15% stake in BC Partners. BC Partners…
JPMorgan launches global real assets fund
A response to clients’ demand for exposure to alternatives
JPMorgan is launching the JPMorgan Real Assets Investment Trust for investing in alternative assets such as in the infrastructure, real estate and transportation sectors.
Barclays Predicts Big Gains Ahead for Private Equity Stocks
Alternative asset demand, corporate conversions, and even a recession are positive catalysts for PE shops Barclays is bullish for private equity stocks heading into the backend of 2019. Barclays analyst Jeremy Campbell initiated coverage on several private equity firms on Monday Three companies received a Buy rating. Here’s a quick recap of the ratings and…
Preqin: Nearly 4,000 PE firms looking to raise $1 trillion globally
Preqin, a leading provider of data on alternative assets, has issued a report on private equity and venture capital trends during the second quarter of 2019.
Private Equity in Europe: Headlines Bad, Reality Good
Investors have, over the years, gotten fed up with Europe’s forever ‘tomorrow-story.’
Disillusioned investors have pushed down valuations to attractive levels, and understandably, private equity is circling.
Private Equity Firm KKR Snaps Up Campbell’s International Business for $2.2 billion
According to reports, private equity giant KKR has pipped Australian rival Pacific Equity Partners to the post in the race to acquire Campbell Soup’s international business including Arnott’s biscuits.
The deal is said to be have been struck at $2.2 billion, which is about 13.5 times 2019 EBITDA.
PE and the ‘Stop Wall Street Looting Act of 2019′ – pros and cons for Americans
Does the private equity industry need to be reined in? A look at both sides of the coin
Though the private equity industry is attracting unfavourable attention following its strident growth over the past five years, the underlying cause is the hunt for yield following relentlessly low interest rates.
Pension funds welcome Blackrock’s new “long-term private equity” strategy
LTPC is aimed at high quality companies looking for a long term source of capital.
“There’s a large population of strong, stable companies with a reciprocal need for a long-term private ownership model,” says André Bourbonnais, Blackrock managing director and global head of BlackRock Long Term Private Capital. “For these companies, neither a public listing nor a leveraged buyout is an attractive option. LTPC is aligned to meet those needs.”
Robinhood Valuation Hits $7.6 Billion after Recent Funding
Robinhood’s latest valuation of $7.6 billion is up more than a third from its 2018 valuation of $5.6 billion.
Investors participating in the latest E series funding round, that raised $323 million, included Ribbit Capital, New Enterprise Associates, Sequoia Capital and Thrive Capital. The financing was led by DST Global, an existing investor.
Private equity giant Trilantic North America raises $2.75 billion
Trilantic Capital Partners VI (North America) L.P. and its parallel fund named Fund VI North America said they raised $2.75 billion in the latter, closing at the hard cap limit.
Celeb Chef Gordon Ramsay Inks PE Deal to Expand Across America
“I look at the lines outside the door,” says celebrity chef Gordon Ramsay, referring to his highly successful fish-and-chips restaurants at Las Vegas and Atlantic City.
Between them, the two outlets have sold more than 300,000 fish and chip dishes.
Economic patriot and Presidential candidate Elizabeth Warren: Private equity firms are “vampires”
Democratic presidential candidate Elizabeth Warren, who inaugurated her “economic patriotism” proposal about a month ago, unveiled fresh new strategies Thursday. She proposes to rein in private equity players and roll back Trump’s financial deregulation.
Bain Capital, Carlyle Announce Bid to Takeover Osram
Bain Capital LLC and Carlyle Group LP last week made a takeover offer for German lighting manufacturer Osram Licht AG at €35 ($39.50) a share, a premium of about 21% to the target’s closing price last Tuesday.
Private equity does not recognize the opportunity from global warming
Research by Guernsey Finance shows an encouraging bump-up in environmentally positive private equity investments
But that doesn’t mean PE managers have really scoped out the commercial opportunity from the global push to contain climate change and global warming.