UAE’s first independent digital banking platform launches
The first independent digital banking platform in the United Arab Emirates launched on Sunday, a neobank hoping to become a leader in the Middle East, Africa and South Asia Dubai-based YAP does not have a banking licence itself but has partnered with RAK Bank which provides international bank account numbers for YAP users and secures […]
Los Angeles Fire & Police eyes up to $950 million in private equity commitments
Los Angeles Fire & Police Pensions plans to commit $700 million to $950 million to private equity in 2021, the $27.8 billion pension plan’s private equity strategic plan update shows. LAFPP committed $734.2 million to private equity in 2020. The plan had about $3 billion in private equity as of Sept. 30, representing 12.1% of […]
KKR Moves to ‘Democratize’ Private Equity as SEC Signals Industry Scrutiny
The private equity giant has invested in iCapital, which will offer individual investors access to KKR’s strategies. KKR & Co. is deepening private equity inroads into the world of individual investors. KKR, co-founded by Henry Kravis in 1976, announced Wednesday that it has invested in iCapital Network and that accredited investors on the fintech platform […]
TA Associates makes new hire in Menlo Park
TA Associates, a global growth private equity firm, has appointed Rafael Telahun as a Vice President in its Menlo Park office and as a member of the firm’s North America Services Group. “It is a great pleasure to welcome Rafael to TA,” says Todd Crockett, a Managing Director at TA Associates and co-head of TA’s […]
TC Energy, ex-Columbia Pipeline execs must face lawsuit over $10 billion deal
TC Energy Corp and two former Columbia Pipeline Group Inc executives must defend against a lawsuit claiming the companies’ $10 billion merger in 2016 shortchanged Columbia investors, a Delaware judge ruled on Monday Vice Chancellor Travis Laster of the Delaware Chancery Court refused to dismiss the lawsuit by former Columbia shareholders, led by the Public […]
Nomura targets private equity in biggest shakeup since 2010
Nomura Holdings will reorganize its operations in April, creating a new, broader division to replace its asset management and merchant banking teams, Nikkei learned Monday. The overhaul will put control of Nomura Asset Management and other key subsidiaries under the new investment management unit, which will bring together know-how now scattered within the Japanese financial […]
Private equity chiefs get bumper payouts on back of Fed stimulus
Stephen Schwarzman and Leon Black take home nine-figure sums for 2020 — despite faltering economy Private equity executives who rank among the richest men on Wall Street received hundreds of millions of dollars in payouts even as the US economy faltered last year, helped by central bank stimulus that wiped out the investment losses they […]
Crypto firm Kraken seeks about $10 billion valuation: Bloomberg News
Cryptocurrency exchange Kraken is in talks to raise new funding in a move that would more than double the firm’s valuation to about $10 billion, Bloomberg News reported on Thursday, citing people with knowledge of the matter. The company is in discussions with firms including Fidelity, Tribe Capital and General Atlantic; terms, including lead investors, […]
Onex reports Q4 profit up, helped by private equity and credit investment gains
Onex Corp. reported its fourth-quarter profit rose compared with a year ago, helped by gains in its private equity and credit investments. The Toronto-based private equity manager, which keeps its books in U.S. dollars, says it earned a net profit of US$597 million or $6.61 per diluted share for the quarter ended Dec. 31. The […]
York Capital Bolsters Private Equity Team and Announces Promotions
York Capital Management (“York”), a global private investment firm, today announced that seasoned private equity investor Seth Pearson has joined York’s private equity group as Managing Director. Mr. Pearson will be responsible for deal sourcing, transaction execution, and portfolio company oversight and will be joining the investment committee of the York Special Opportunities Fund III […]
