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.
Pandemic or not, famed sovereign wealth fund Mubadala Investment Company kept a stream of investments flowing into technology, life sciences, consumer goods, and other growth sectors during 2020. In fact, as a strategy, the fund stepped up its investment to $29 billion from $18.5 billion in 2019.
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Private equity giant KKR & Co wants to raise $1.5 billion for its third special situations fund. Reuters reported the June registration of KKR Special Situations Fund III. The private equity firm said during its Q2 conference call that it planned to raise capital for a new special situations fund.
FireEye (FEYE) is reportedly seeking a private equity buyer. The news comes after the firm failed to locate a strategic buyer. The company reportedly hired Goldman Sachs to guide them through the process. Multiple reports suggest that discussions are in the early stages of development.
ADT announced is selling ADT Security Services Canada to TELUS Corporation. Terms of the deal are CAD 700 million in cash, subject to certain adjustments.
AssetMark Financial Holdings announced an agreement with Canandaigua National Corporation to buy OBS Financial. OBS is a turnkey asset management platform.
Leeds Equity Partners has acquired VitalSmarts from TwentyEighty. Vital Smarts is a provider of communication, execution, and, leadership development training.
Chinese private capital dealings slumped dramatically in the first half of the year. A new report from the Emerging Market Private Equity Association reveals startling figures on the state of the Chinese market.
Stephen Schwarzman, the co-founder, chairman, and CEO of the Blackstone Group said dot.com like conditions prevailed in the startup industry. He said asset valuations had reached bubble-like proportions and that there could be a painful reckoning of losses from investing in companies such as Uber and WeWork.
A bipartisan Congressional investigation is to determine whether private equity giants are behind price gouging in emergency care.
“Surprise billing practices” are unexpectedly large medical bills from an out-of-insurer-network physician for emergency treatment. These bills could also emanate from an out-of-network physician or ancillary clinician working in an in-network hospital.
University of California Sees Assets Under Management Jump $7.4 billion in a year; PE a stellar performer
University of California’s assets under management jump $7.4 billion in a year; PE a stellar performer. The highlight of the University’s investment performance for the year was the impressive return of 27.4% achieved by the Private Equity asset class in the Endowment product, pushing its value up 8.24%.
A healthy 19.18% gain on its private equity asset class powered an overall return of 8.35% at the Iowa Public Employees’ Retirement System (IPERS)during the last fiscal year
As a result, the fund’s returns were 9.3%, 6.77%, and 9.60% across the three-, five-, and 10-year timeframes. In the immediately preceding fiscal year, the fund earned 7.97%. The return fell short of the fund’s target rate of 8.64%, however.
The legendary hedge fund manager said declining interest rates had propped up returns in PE, but this could change
Cooperman was speaking at an event hosted by the New York Alternative Investment Roundtable. Initially calling private equity a scam, he later clarified his remarks. Though he was put off by the high fees and lengthy lock-ups, he said the industry wasn’t a scam.
Tech funds still generate massive demand from investors Vista Equity Partners has raised the largest technology-focused PE fund in history. The shop raised $16 billion in outside capital for its new fund, Vista Equity Partners Fund VII LP. That figure exceeds the $15 billion raised by Silver Lake. It also surpasses the $12.6 billion raised…
Could the mountain of ‘dry powder’ be too much of a good thing?
Warning notes are sounding that fund managers, weighed under by mounting investible funds with few good enough ideas to invest, may be forced to accept lower returns.
Rivendell Partners, Revolut, Alpha FMC, iCapital Network, and Gide Loyrette Nouel People on the Move – September 3, 2019 Revolut has faced pressure in recent months due to its customer service and compliance limitations. The banking startup continues to expand at a breakneck pace (more than 6 million users since its 2015 launch). Now, after…
Investment fund launches for September 3, 2019. First up, venture capital firm Golden Gate Ventures has filed to launch a $200 million fund in partnership with South Korea’s Hanwha Asset Management. The Singapore-based VC fund also said it will focus on Series B startups in the Southeast Asian region. Next, Hosen Capital is seeking $750…
In an impressive run, PE has topped the returns table at pensions for seven consecutive years.
A study by the American Investment Council (AIC) of 165 US public pension funds that represent over 20 million public sector workers and retirees found that private equity (PE) has been a star-performing asset class.
BlackRock voted against 94 CEOs who wanted to serve on more than one board outside their company The world’s largest asset manager is taking aim at chief executives who sit on the board of directors of different companies. In a 32-page report, the company showed it had voted against 94 different CEOs who ran for…
Fearing the threat from tech giants in the US and China, the EU plans to bulk up its own “high-potential European companies” through a sovereign wealth fund
According to media reports, which quoted an internal EU document, plans are afoot to set up a “European Future Fund” with a capital of € 100 billion ($ 110 billion) and the mandate to invest in promising European corporations to bring them up to speed on the tech front.
A new Osram suiter, Avaya finds an alternative to Mitel, an Italian-French merger, and Goldman takes China. Let’s look at Wednesday’s M&A Deal News. M&A Deal News – August 21, 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…
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 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?
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…
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…