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Millennium, Brevan Howard, Schonfeld, and ExodusPoint are just a few of the funds that have put roots down in either Abu Dhabi or Dubai. Meanwhile, Bridgewater's Ray Dalio bought a penthouse in Abu Dhabi as he compliments the country's policies. When one US-based hedge fund fundraiser met with Abu Dhabi officials late last year, he didn't expect much to come of it. He lauded everything from the Louvre outpost in Abu Dhabi to the warm weather to the responsiveness from government officials. A Bloomberg story on Abu Dhabi notes that it's fast-tracking country-club admissions for new wealthy immigrants.
Persons: , Brevan Howard, Schonfeld, Bridgewater's Ray Dalio, Austen Smart, Tighe, Smart, Alan Howard, Greg Coffey, Danny Yong, hoover, Doug Greenig, Morgan, Point72, Steve Cohen, Viking Global's Andreas Halvorsen, keynotes, Howard, Abu Dhabi, Craig Bergstrom, Bobby Jain's, Florin Court's Greenig, Abu, Floring Organizations: Service, United Arab Emirates, titans, Business, Tighe International, Florin Court Capital, Morgan Stanley's, Dubai Financial Services Authority, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Corbin Capital, Abu Dhabi Global, Hong Kong, pats, Bloomberg Locations: Dubai, Abu Dhabi, London, New York, Mumbai, UAE, Asia, Switzerland, It's, Gaza, Iran, Palm, Europe, Cayman Islands, Jersey, Miami, San Franciso, Riyadh, Saudi
The 83-year-old turned his health around decades ago and now competes in triathlons. The neurosurgeon shares 3 tips for younger people who want to be as fit as him. Since then, Maroon has completed eight Ironman Triathlons and placed second in his age category for the 2022 National Senior Games triathlon. AdvertisementMaroon shared his tips for younger people wanting to be as fit and healthy with BI. Address the balance in your lifeFinding a balance between work and family commitments has also been key to Maroon improving his fitness.
Persons: Joseph Maroon, , Maroon, Adia Callahan, BI's Gabby Landsverk Organizations: Service, University of Pittsburgh Medical Center, WWE, Global Aging Consortium
In Dallas, where temperatures dropped as low as 10 degrees last week, highs were forecast to reach the 60s on Wednesday. In New York City, where the low dropped to 17 on Wednesday, unseasonably high temperatures in the 50s were expected by Thursday. And in St. Louis, which was covered in ice on Monday, a high of 50 was expected on Wednesday. Sitting in a frigid Bryant Park in New York City on Monday, Adia Rafio, 26, of Queens said she was considering making outdoor plans later this week. “I’m definitely going to take advantage,” she said as workers shoveled snow and ice nearby.
Persons: Louis, Adia Rafio, Queens, “ I’m, Locations: Dallas, New York City, St, Bryant, United States
Disney's Hulu has a lot riding on "Black Cake," its adaptation of Charmaine Wilkerson's New York Times bestseller that centers on a Black family and spans decades and geographies from Jamaica to Scotland to California. Several Caribbean bakeries across the US will give out samples of black cake, the rum-soaked treat that's at the heart of the story. Hulu's partnerships start with the audienceMatthews and her team put together about a dozen partnerships a year tied to big releases. For "Black Cake," the book's fan base and defining themes were front and center for Hulu. Customers must be members of Barnes & Noble's Premium Membership ($39.99 a year) to see the "Black Cake" sneak peek, which let the bookseller promote its rewards program.
Persons: Charmaine Wilkerson's, Marissa Jo Cerar, Oprah Winfrey, Aaron Kaplan, Hulu, Noble, Adia Matthews, Matthews, screeners, , Danny Trejo —, Postmates, Selena Gomez's, Cynthia Di Meo, Mabel Mora, Influencers, Barnes Organizations: Hulu, Charmaine Wilkerson's New York Times, Harpo Films, Entertainment, Barnes, Spelman College, Howard University, Hollywood, Con, Samba, Walt Disney Co, Disney Locations: Jamaica, Scotland, California, Caribbean, it's, Southern California, Los Angeles, LA, American, Hollywood
REUTERS/Amit Dave/File Photo Acquire Licensing RightsBENGALURU, Oct 6 (Reuters) - Billionaire Mukesh Ambani's Reliance Retail Ventures said on Friday it would raise 49.67 billion rupees ($598 million) from the Abu Dhabi Investment Authority, in the latest bet on India's largest retailer ahead of a potential stock market listing. "Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an unprecedented pace," said Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA. The investment comes as Reliance set an internal target to raise $3.5 billion. ADIA and Singapore's GIC had invested $664 million each into the retail unit in 2020 as Reliance sold a 10.09% stake at a valuation of 4.68 trillion rupees. Morgan Stanley acted as financial adviser to Reliance Retail Ventures for the ADIA deal.
Persons: Amit Dave, Mukesh, Hamad Shahwan Aldhaheri, Singapore's GIC, Ambani, Morgan Stanley, Chris Thomas, Maju Samuel Organizations: Reliance Industries, REUTERS, Rights, Retail Ventures, Abu Dhabi Investment Authority, ADIA, Reliance, KKR, Qatar Investment Authority, Reuters, Saudi Arabia's Public Investment Fund, Reliance Retail Ventures, Thomson Locations: Ahmedabad, India, Abu Dhabi, ADIA, Singapore, Saudi Arabia, Bengaluru
LONDON, Sept 21 (Reuters Breakingviews) - Barely a day goes by without an eye-catching story involving Saudi Arabia’s Public Investment Fund. A third of the fund consists of significant stakes in domestic companies like the $51 billion Saudi Telecom Company (7010.SE) and $53 billion Saudi National Bank (1180.SE). Reuters Graphics Reuters GraphicsThe PIF’s investment strategy is also racier than its more conservative peers. But the episode reinforces the impression that the PIF is a mix of venture capital, hedge fund and startup money. The most spectacular was probably handing $45 billion to SoftBank Group (9984.T) boss Masayoshi Son for his $100 billion first Vision Fund.
Persons: Kylian Mbappé, It’s, Prince Mohammed bin Salman, Yasir Al, Abu Dhabi’s Mubadala, Rumayyan, Salman bin Abdulaziz, Masayoshi Son, SWFs, Taiwan’s Foxconn, Peter Thal Larsen, Streisand Neto Organizations: Reuters, Saudi Arabia’s Public Investment Fund, Standard Chartered, Spanish telco Telefonica, Fund, Abu, Abu Dhabi Investment Authority, Global, Reuters Graphics Reuters, Saudi, Saudi Telecom Company, Saudi National Bank, Saudi Aramco, giga, Qatar Investment Authority, Singapore’s Temasek, Al, MbS, SoftBank Group, Vision, Credit Suisse, UBS, Saudi giga, Aramco, Investment, Thomson Locations: Spanish, Abu Dhabi, Riyadh, Saudi
Reliance Retail is India's largest retailer and is led by Asia's richest person Mukesh Ambani. Of that, QIA last month announced a $1 billion investment and KKR & Co (KKR.N) this week $250 million. Reliance sold a 10.09% stake in its retail unit in 2020, valuing it at 4.68 trillion rupees ($56.4 billion). When ADIA invested in Reliance Retail in 2020, it said it was part of its strategy of targeting market leading businesses in Asia linked to the region's consumption-driven growth. Reliance Retail reported a consolidated net profit of 91.81 billion rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.
Persons: Singapore's GIC, Mukesh Ambani, QIA, ADIA, PIF, Marks, Spencer, Ambani, Sriram, Aditya Kalra, Yantoultra Ngui, Alexander Smith Organizations: Reliance, Asia's, Reuters, KKR, Co, Abu Dhabi Investment Authority, Saudi Arabia's Public Investment Fund, Reliance Industries, Reliance Retail, Unilever, Thomson Locations: MUMBAI, DELHI, DUBAI, Singapore, Abu Dhabi, Saudi Arabia, GIC, Asia
As a psychologist of 15 years, I've found that when we feel unworthy, we often do things that sabotage our financial plans. Ultimately, not getting those raises and promotions can end up costing you tens of thousands of dollars over the course of your career. While spending money on what you want isn't a bad thing, attempting to feel better about yourself through retail therapy won't produce lasting feelings of worthiness. Identify things you can do to help yourself feel better that don't require spending money. A few examples: calling a friend, taking a walk in the park or making a list of things you're grateful for.
Persons: I've Locations: perfectionism
Today, entertainment options abound, and the writers at the heart of this documentary work within many artistic and intellectual traditions. The diverse group includes Jericho Brown, Jason Isbell, Lyle Lovett, Amanda Shires, Mary Steenburgen, Angie Thomas and Natasha Trethewey, among others. And often they are writing from a perspective that was almost entirely absent — or violently silenced — in the South of Ms. Welty and Ms. Lee. “There’s this erasure of people, this erasure of the past, this erasure of these lived histories. These are the narratives that get woven out of the glorification of the South as a moonlight-and-magnolias place.”Other storytellers in this documentary may seem, on the surface, to have almost nothing to do with the Southern past.
Persons: Jericho Brown, Jason Isbell, Lyle Lovett, Amanda Shires, Mary Steenburgen, Angie Thomas, Natasha Trethewey, , Welty, Lee, Jesmyn Ward, “ It’s, , Michael W, Twitty, , Qui Nguyen, Adia Victoria Organizations: Ms, Southern, Memorial for Peace, Justice Locations: The Mississippi, Montgomery , Ala, Arkansas, Southern
Galderma owners delay IPO, review Credit Suisse role - source
  + stars: | 2023-03-29 | by ( ) www.reuters.com   time to read: +1 min
The shareholders, including Swedish buyout house EQT (EQTAB.ST) and the Abu Dhabi Investment Authority (ADIA), are also reviewing Credit Suisse's (CSGN.S) role as global coordinator for the IPO, the source added, after the troubled lender agreed to be taken over by rival UBS in a government-brokered rescue. Bloomberg first reported on the IPO delay and the review of Credit Suisse's role. Galderma had been preparing to list as soon as after the Easter holidays, sources had told Reuters, having previously delayed its IPO plans because of poor market conditions. Last year, the group was forced to postpone its listing ambitions after the invasion of Ukraine and soaring interest rates ground the IPO market almost to a halt, as reported. Galderma and Credit Suisse declined to comment.
Blackstone to acquire Cvent in deal valued at $4.6 bln
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: 1 min
March 14 (Reuters) - Cvent Holding Corp (CVT.O) said on Tuesday buyout firm Blackstone Inc (BX.N) would purchase the U.S. software provider that facilitates in-person and virtual meetings in a deal valued at $4.6 billion. Cvent said its shareholders would receive $8.50 per share, adding that a subsidiary of the Abu Dhabi Investment Authority (ADIA) will be a significant minority investor. The offer price represents a premium of about 29% from Jan. 30, before media reports of a potential deal surfaced. Reuters had previously reported that Cvent was exploring a sale of the company. Reporting by Akash Sriram in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
The region's 10 largest sovereign wealth funds combined manage nearly $4 trillion, according to the Sovereign Wealth Fund Institute. The regional investors, especially the sovereign funds but also the families, are now much more sophisticated than before. Follow the capitalAs oil prices made a roaring comeback in the last two years, the Gulf's public wealth funds went on a spending spree. It added that GCC sovereign wealth funds "played an important role in 2020 during the Covid-19 pandemic and now again in 2022 during times of financial distress." Our phones are ringing off the hook," one manager from a UAE investment fund said, declining to be named due to professional restrictions.
DUBAI, March 9 (Reuters) - Abu Dhabi announced a reshuffle at the top of its two biggest sovereign wealth funds on Thursday, appointing senior members of the royal family as chairmen. Sheikh Tahnoun bin Zayed Al Nahyan, one of the most powerful members of Abu Dhabi's royal family, was named chair of the Abu Dhabi Investment Authority (ADIA), among the world's largest sovereign wealth funds, the government's media office said. ADIA is estimated by Global SWF to manage $993 billion in assets, while the Sovereign Wealth Fund Institute puts the figure at $790 billion. The wealth fund's last chairman was the previous UAE president, Sheikh Khalifa bin Zayed Al Nahyan, who died last year. MORE NEWCOMERSThe UAE president is appointing his brothers as chairmen at state sovereign wealth funds rather than chairing them himself.
Fabindia shelves $482 mln IPO due to rough market conditions
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Feb 27 (Reuters) - Apparel retailer Fabindia on Monday said it has withdrawn its 40 billion rupee ($482.4 million) initial public offering amid rough market conditions, becoming the latest company to scrap listing plans as interest rate worries pressure stock markets. "The decision to withdraw was taken as the current market conditions were not seen to be conducive for listing," a Fabindia spokesperson said in a statement. Fabindia had planned a fresh issue of shares worth 5 billion rupees and a sale of up to 25.1 million in existing shareholders' stock. The company may reconsider filing an IPO in the future, depending on its need for growth capital and the market conditions," the company said. Jewellery retailer Joyalukkas, e-commerce firm Snapdeal and wearable electronics company boAt have all pulled their IPOs due to uncertain market conditions.
The company plans to sell a significant minority stake, the newspaper report added, eyeing a valuation of about $10.5 billion. The funds and investors include the UAE-based Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, the Saudi Arabia-headquartered Public Investment Fund, Singapore's Temasek Holdings, and KKR and General Atlantic. Tata Motors and some of the companies did not immediately respond to Reuters' request for comment. Tata Motors plans to use the bulk of the proceeds to retire a part of its outstanding debt and infuse a small portion as primary equity in the EV business, the report said. Tata Motors has outlined plans to expand its electric car portfolio with new models and higher price points.
Feb 21 (Reuters) - Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is among parties considering a bid for a 34% stake in Associated British Ports that could be valued at about 2 billion pounds ($2.42 billion) or more, Bloomberg News reported on Tuesday. Stonepeak Partners LP and British Columbia Investment Management Corp are among the other investors interested in the stake being sold by Canada Pension Plan Investment Board (CPPIB), the report said, citing people familiar with the matter. Deliberations are in the early stages, the report said, adding that other suitors, including existing shareholders, could also emerge. ADIA, Associated British Ports, British Columbia Investment Management, Stonepeak and CPPIB did not immediately respond to Reuters' requests for comment. ($1 = 0.8256 pounds)Reporting by Aarati Krishna in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
HONG KONG, Feb 2 (Reuters Breakingviews) - Markets have given Gautam Adani a big bloody nose, and his backers a partial reprieve. The tycoon’s decision on Wednesday to pull the $2.4 billion share sale at his flagship Adani Enterprises (ADEL.NS) was all but forced after a 28% plunge in the company’s share price the day after it closed the books. That danger was magnified on Wednesday with India’s regulator looking into possible irregularities around the share sale, Reuters reported exclusively citing a source with direct knowledge of the matter. Less than one quarter was due to pay down borrowings at the issuer and its unlisted subsidiaries, including Adani Airport and Adani Road. loadingCONTEXT NEWSAdani Enterprises on Feb. 1 said it is withdrawing its $2.4 billion share sale due to the “unprecedented situation and the current market volatility”.
Adani’s buy now, pay later fundraise could sting
  + stars: | 2023-01-26 | by ( Una Galani | ) www.reuters.com   time to read: +4 min
HONG KONG, Jan 26 (Reuters Breakingviews) - Gautam Adani is on a mission to win public acceptance for his eponymous group. The first stage of a $2.4 billion stock sale by his flagship Adani Enterprises (ADEL.NS) entity has won over anchor investors, including the well-regarded Abu Dhabi Investment Authority. They are picking up roughly $734 million of stock in India’s largest follow-on issue of new shares by a private sector company. But those of other Adani group companies including Adani Transmission (ADAI.NS) and some U.S. dollar bonds at Adani Green Energy (ADNA.NS) and Adani Ports (APSE.NS) sold off sharply. For Adani investors, buy now, pay later could take on an awkward new meaning.
Jan 19 (Reuters) - U.S. self-driving truck firm Outrider said on Thursday it has raised $73 million in funding to scale up its autonomous trucks operating in distribution yards for customers in e-commerce, manufacturing and other industries. It also includes fresh funding from American venture capital fund New Enterprise Associates (NEA) and the venture capital arm of industrial conglomerate Koch Industries. Outrider says its self-driving yard truck "hitches to and unhitches from trailers, robotically connects and disconnects trailer brake lines, backs semi-trailers with precision, interacts safely with loading docks, and keeps track of trailer locations throughout the yard." The company says its customers represent more than 20% of all yard trucks operating in North America, and have invested in joint product testing and pilot operations since 2019. Yard trucks are designed to move trailers and cargo containers in distribution yards.
ReNew Power is now studying green hydrogen opportunities, specifically in Egypt, having signed a framework agreement during the COP27 climate conference last year, Sumant Sinha told Reuters in Davos at the World Economic Forum. The plant would be located around 200 kilometres south of the capital Cairo and the green hydrogen would be shipped through the Suez canal. India also has plans to produce 5 million tonnes of green hydrogen by 2030, which ReNew Power wants to be a part of. "India has very good natural resources also and we can ship out of India just like we can out of Egypt." "One of the big reasons why there is so much volatility in the capital markets especially for clean tech stocks is because interest rates are going up," he said.
SummarySummary Companies Assets managed by sovereign wealth funds fell nearly 8%Assets of public pension funds dropped almost 6%LONDON, Jan 1 (Reuters) - Heavy falls in stock and bond markets over the last year have cut the combined value of the world's sovereign wealth and public pension funds for the first time ever - and to the tune of $2.2 trillion, an annual study of the sector has estimated. The report on state-owned investment vehicles by industry specialist Global SWF found that the value of assets managed by sovereign wealth funds fell to $10.6 trillion from $11.5 trillion, while those of public pension funds dropped to $20.8 trillion from $22.1 trillion. Despite all the turbulence though, the money funds spent buying up companies, property or infrastructure still jumped 12% compared with 2021. A record $257.5 billion was deployed across 743 deals, with sovereign wealth funds also sealing a record number of $1 billion-plus "mega-deals". Two months later, Italy's CDP Equity wealth fund spent $4.4 billion on Autostrade per l’Italia alongside Blackstone and Macquarie.
Global SWF's Diego López said the main driver had been the "simultaneous and significant" 10%-plus corrections suffered by major bond and stock markets, a combination that had not happened in 50 years. Despite all the turbulence though, the money funds spent buying up companies, property or infrastructure still jumped 12% compared with 2021. A record $257.5 billion was deployed across 743 deals, with sovereign wealth funds also sealing a record number of $1 billion-plus "mega-deals". Two months later, Italy's CDP Equity wealth fund spent $4.4 billion on Autostrade per l'Italia alongside Blackstone and Macquarie. "If financial markets continue to fall in 2023, it is likely that sovereign funds will keep 'chasing elephants' as an effective way of meeting their capital allocation requirements," the report said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe could get up to 17% return today on cashflow generating assets, says Kotak Investment AdvisorsSrini Sriniwasan of Kotak Investment Advisors discusses what's next after the company secured an anchor investment of $500 million from a subsidiary of the Abu Dhabi Investment Authority (ADIA).
BENGALURU, Dec 12 (Reuters) - Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is in advanced talks with Indian eyewear retailer Lenskart to invest $350 million to $400 million at a valuation of $4.5 billion, the Economic Times newspaper reported on Monday, citing people aware of the matter. The investment, which could give ADIA an almost 10% stake in Lenskart, is likely to be in the form of a secondary sale of shares, with a small primary round comprising growth equity, the report added. Lenskart and ADIA did not immediately respond to a Reuters request for comment. Started in 2010, Lenskart has an operational manufacturing unit in India's Haryana state, while another fully-automated plant in Rajasthan state has yet to start functioning. Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
MEXICO CITY, Dec 9 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Friday there are two remaining parties bidding to buy the Mexican retail arm of U.S. banking giant Citigroup . Lopez Obrador expects the bid for one of Mexico's biggest banks to be resolved in the beginning of 2023, he said during a regular news conference. Sources have told Reuters billionaire German Larrea's conglomerate Grupo Mexico (GMEXICOB.MX) is battling Daniel Becker's smaller Banca Mifel to buy the lender. Citigroup Chief Executive Officer Jane Fraser has been looking to simplify the firm by selling off some its international operations. Reporting by Valentine Hilaire; Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.
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