The listed private equity quartet held roughly $416B in dry powder at the end of Q2
The four largest publicly traded alternative asset managers – Apollo Global Management Inc., Blackstone, Carlyle, and KKR – held roughly $416bn in dry powder at the end of the second quarter, said a study. The quartet aims to take advantage of the same market turbulence that curbed investment performance and sent their stocks tumbling in […]
Carlyle CEO’s sudden exit puts the private equity giant back at square zero
Five years ago, Bill Conway had bid Carlyle Group investors a farewell on the company’s third quarter earnings call: “I’m grateful to all of you who participated on these calls for the past 21 quarters with me.” At the time, Conway and his co-CEO David Rubenstein, two of the private equity giant’s co-founders, had just alerted investors […]
War for talent pushes PE firms to remodel
In an effort to recruit and retain new talent, PE firms of all sizes have prioritised talent management above everything aside from asset growth. With private markets taking a hit after two years of record returns, PE firms may have to be less selective when it comes to hiring new talent and focus more on […]
Klarna’s down round is early indicator of pain in private markets
Private equity is set to play a bigger role in fintech, writes Professor Florin Vasvari, Academic Director at the Institute of Entrepreneurship and Private Capital at the London Business School. For a while fintechs looked invincible: overcoming all hurdles and attracting mega rounds of funding. However, the news that Klarna’s value has been slashed from […]
TA and Evercore extend partnership to promote diverse representation in Private Equity and Investment Banking
TA, a leading global growth private equity firm, and Evercore, a premier global independent investment banking advisory firm, recently launched the second year of TA-CORE, a partnership to promote greater diversity in the private equity and investment banking industries. TA-CORE focuses on expanding the diversity pipeline within investment banking and private equity by providing education, access and […]
Private equity’s sell-to-yourself bandwagon is a wild ride
One issue is asymmetry of information and experience, another the recutting of terms Once upon a time, in the jargon of private equity, a “secondary” would have meant one master of the universe selling to another. Now, it could easily refer to a buyout fund flogging assets to itself. In the twilight years of the […]
BlackRock investors take voting power amid scrutiny of asset managers
US Senate hearing this week will focus on outsized voting power of index tracking funds BlackRock clients are taking more control of the way their shares are voted on hot topics such as climate change and executive pay, as pressure mounts on the largest asset managers over their outsized power at US companies. BlackRock said […]
Workers’ windfall at KKR-owned company shows private equity shift
Hundreds of workers stand to collect $175,000 in average profits after sale of CHI Overhead Doors “I think LBOs are very ugly. I think they are harmful to individual working people. I think they honestly stink,” Carl Adkins told the Wall Street Journal in 1990. Adkins was an employee of Safeway, the US grocer who, […]
Musk’s wild Twitter ride shows the power of private capital
Beneficiaries of the tech boom are becoming the real competitors to Wall Street Elon Musk’s tweet on Friday that he was putting his Twitter bid “on hold” highlighted the wild ride his proposed buyout has become, raising questions about whether it will go ahead. Either way, one striking feature has been Musk’s ability to tempt […]
BlackRock warns it will vote against more climate resolutions this year
Largest asset manager parts ways with most activists and says war in Ukraine has changed calculus BlackRock has warned that it will not support most shareholder resolutions on climate change this year because they have become too extreme or too prescriptive. The world’s largest money manager, with nearly $10tn in assets, said in a stewardship […]
