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☆ Virginia Gov. Youngkin stokes 2024 campaign speculation after killing Ford battery plant over China links
▼ + stars: | 2023-01-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

But this week, Virginia Republican Gov. (Virginia doesn't allow governors to serve consecutive terms, so Youngkin can't seek re-election.) “There’s a logic to the politics of Youngkin’s decision,” said Liam Donovan, a Republican strategist and lobbyist. Gretchen Whitmer telling the Detroit News that Youngkin’s “political determination” created an “exciting opportunity” for her state. “Carlyle makes a lot of money out of China,” said Surovell, the Democratic state senator.

☆ India's Yes Bank has 'strong' grounds to appeal ATI bonds court order, CEO says
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Jan 21 (Reuters) - India's Yes Bank (YESB.NS) has "strong" legal grounds to appeal against a court order quashing the write-off of its additional Tier-1 (AT1) bonds, Chief Executive Officer Prashant Kumar said on Saturday. "The judgment in itself is not questioning the regulatory guidelines in terms of writing off (AT1 bonds). "We have strong legal advises and opinions which interpret the issue in a different way and that makes a strong ground for us to appeal in the Supreme Court." The bonds were written off as part of a restructuring plan to rescue Yes Bank in March 2020. Yes Bank said in a stock exchange filing late on Friday it is in the process of preparing an appeal to the Supreme Court.

The lessors took a hit of almost $10 billion when Russia barred airlines from returning planes hit by Western sanctions to their owners in the West. This has turned the spotlight on other risky markets, most prominently China and Taiwan, where some fear future conflict could cause a similar seizure on a much larger scale. When discussing the Russia losses, most executives speaking at the conference, also touched on China risks. Several executives said the loss of aircraft to Russia would simply feed into risk management models and encourage lessors to be careful about spreading their exposure rather than withdrawing from markets altogether. "Lessors aren't going to be able to abandon higher risk areas because that is what they do," he added.

"Our industry is still climbing out of - call it a 100-year event, call it a macro shock of epic proportions. "We are bullish and these are the reasons why I suspect there's a disconnect between the Davos in Switzerland and the Davos in Dublin," Cronin told Reuters. "It's a good time to be a lessor," said Tony Diaz, chairman of the smaller Zephyrus Aviation Capital. It's probably easy to take that second one too," Robert Korn, president and co-founder of fast growing Carlyle Aviation Partners, added. Additional reporting by Tim Hepher and Joanna Plucinska Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ China tightens media control with tiny stakes in two Alibaba units
▼ + stars: | 2023-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Sopa Images | Lightrocket | Getty ImagesBEIJING — State-backed entities have taken tiny stakes in parts of two Alibaba subsidiaries that oversee a video platform and web browser. The state-backed stakes reflect a progression of government directives over the last decade to increase control of media in China. "So far most of the stakes announced (including in other Chinese companies) seem to be highly concentrated on media companies and media subsidiaries." watch nowSince 2020, business records show state-backed entities have taken 1% stakes in popular social media or short-video apps Weibo , ByteDance's Douyin and Kuaishou . A provincial state media group completed a 1% investment in September, leaving Alibaba's media arm with 99% ownership.

☆ RSA Security explores $2 bln-plus sale of Archer -sources
▼ + stars: | 2023-01-18 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

Clearlake Capital, another private equity firm, invested in RSA the following year. Last year, RSA sold a majority stake in its events business, RSA Conference, to private equity firm Crosspoint Capital Partners for an undisclosed amount. Archer, headquartered in Bedford, Massachusetts, is a governance, risk and compliance software platform with over 15,000 users globally. RSA's other business divisions include identity and access management platform SecureID and threat detection and response software platform NetWitness. Archer is not the only risk management software vendor up for sale in the United States.

☆ Watch CNBC's full interview with billionaire investor David Rubenstein
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with billionaire investor David RubensteinBillionaire investor and philanthropist David Rubenstein, Carlyle Group's co-founder and co-chairman, joins CNBC's 'Squawk Box' to discuss if the United States is at an inflection point for the federal funds rate and more.

☆ Jerome Powell has done a pretty good job, says billionaire investor David Rubenstein
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJerome Powell has done a pretty good job, says billionaire investor David RubensteinBillionaire investor and philanthropist David Rubenstein, Carlyle Group's co-founder and co-chairman, joins CNBC's 'Squawk Box' to discuss if the United States is at an inflection point for the federal funds rate and more.

☆ Palantir CEO tells tech workers who don't like the company's military deals, ‘Don’t work here’
▼ + stars: | 2023-01-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Alex Karp, CEO of Palantir, on day two of the World Economic Forum in Davos, Switzerland. Palantir co-founder and CEO Alex Karp knows many tech workers in Silicon Valley have misgivings about his data mining firm's dealings with intelligence agencies and the military. Tech workers have been more vocal in recent years in opposing their employers' contracts with the military. Two-thirds of people in Silicon Valley don't want to work for companies like Palantir, Karp said in Davos. "We don't like people who are coming in and saying, we want to kill terrorists and just without data protection," Karp said.

☆ Here's why Carlyle Group's Rubenstein says now is a good time to invest
▼ + stars: | 2023-01-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

The worst of the bear market appears to be over and investors should look at getting back into stocks, David Rubenstein of the Carlyle Group said Wednesday. "The best time to invest is when there's some uncertainty or when the economy seems to be a little bit nervous in terms of where it's going," Rubenstein said. "It's a good time to invest now, because I think the market is not going to see another 20% drop in public prices," he added. "I think that is probably past us, and I think we're probably coming back to the point where people are going to feel comfortable investing." Stocks have risen to start the year, with the tech-heavy Nasdaq Composite up 6% in 2023.

Nudged by private equity funds, those supplying the booming luxury goods industry are now finding strength in unity. Largely family-owned and small in size, these businesses often struggle to meet the changing needs of the luxury brands they work for. "Luxury brands have been growing exponentially: our customers needed us to grow with them," said Nicola Giuntini, whose Tuscany-based company makes luxury coats and jackets for brands including Celine, Burberry (BRBY.L) and Stella McCartney. PRODUCTION NICHESItaly's manufacturing sector has also been a hunting ground for big luxury brands keen to secure their supply chain. Italian private equity firm XENON International, for example, has bet on producers of materials and finishes for luxury items which it has grouped together in MinervaHub.

☆ Carlyle buys majority stake in India's VLCC for $300 mln - sources
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Jan 10 (Reuters) - Private-equity firm Carlyle Group (CG.O) has acquired a majority stake in Indian beauty care and wellness solutions provider VLCC for around $300 million, two sources told Reuters on Tuesday. The equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners, Carlyle said in a statement, without specifying a deal value. "In a crowded market, having a distinct value proposition with high product efficacy and an established brand is very valuable, and that's what VLCC has," Jain added. Founders Vandana Luthra and Mukesh Luthra will continue to hold a significant stake in the company, Carlyle said, without sharing further details. In December, the parent of Indian personal care products startup Mamaearth filedfor an initial public offering.

☆ Carlyle Group buys majority stake in India's VLCC
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Jan 10 (Reuters) - Private-equity firm Carlyle Group (CG.O) said on Tuesday it acquired a majority stake in Indian beauty care and wellness solutions provider VLCC. The equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners, Carlyle said in a statement, without disclosing any financial terms. VLCC founders Vandana Luthra and Mukesh Luthra will continue to hold a significant stake in the company, Carlyle said, without sharing further details. Carlyle has invested more than $5.5 billion in over 40 transactions in India as of Sept. 30, 2022, the company said. In November last year, a unit of Indian oil-to-chemicals conglomerate Reliance Industries (RELI.NS) picked a majority stake in Naturals Salon & Spa.

☆ Private equity acquires a taste for drug development
▼ + stars: | 2023-01-09 | by ( David Carnevali | ) www.reuters.com time to read: +6 min

Jan 9 (Reuters) - Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved. These deals are not structured as the leveraged buyouts that private equity firms are mostly known for. In most cases, the drug makers start paying the money back to the private equity firms when the drug is being developed, either by issuing equity, tapping cash on hand or borrowing. They also share a slice of the newly developed drug's revenue with the private equity firms once it's approved. Private equity firms also provide capital to spin out drugs into new companies.

☆ David Rubenstein views Warren Buffett as the ultimate investor. The Carlyle billionaire outlines the 12 traits and habits that are critical to Buffett's success.
▼ + stars: | 2022-12-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

David Rubenstein calls Warren Buffett "the ultimate master of the investor craft" in his new book. He dedicated the compilation to Warren Buffett, calling him "the ultimate master of the investor craft." The Carlyle cofounder and private equity billionaire, in an interview with Insider in September 2022, detailed 12 traits and habits that make Buffett the epitome of a great investor. He's a pure investor, he's made it a lifelong vocation." Humility"Warren Buffett doesn't run around telling everyone how smart he is.

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ From Amazon to The Trade Desk, experts predict these companies will be the most active acquirers of advertising businesses next year
▼ + stars: | 2022-12-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

There's a strong interest from acquirers in hot trends like commerce media and data consultancy. Experts predicted the companies most likely to be acquirers of advertising businesses in 2023. Many industry observers expect advertising industry M&A deal volume and value to be down next year due to volatile macroeconomic conditions. Experts across the advertising industry — from consultants, to agency executives, analysts, investors, and adtech leaders — named the companies likely to be active in the advertising M&A market in 2023 and why. Apple could make an under-the-radar adtech acquisition for its sleeping giant advertising businessIndustry insiders predict Apple has big plans for its $5 billion-and-growing advertising business next year.

☆ Warren Buffett is likely to load up on cheap stocks as other investors panic in 2023, Elon Musk says
▼ + stars: | 2022-12-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett is likely go on a stock-buying spree in 2023, Tesla CEO Elon Musk says. Musk has flagged higher interest rates and a looming recession as headwinds for stocks. "If a company has very strong fundamentals, but then the market is doing some short-term panic situation, obviously that's the the right time to buy stock," Musk added. Still, Musk has quoted the investor on earnings calls, while Buffett has praised Tesla's unlikely success and hailed Musk as a "remarkable guy." Read more: David Rubenstein views Warren Buffett as the ultimate investor.

☆ Buyout barons will court the panicking masses
▼ + stars: | 2022-12-20 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Since they’ve already scoured traditional funding sources like pension funds and insurers, they’ll make a priority of tapping wealthy individuals in 2023. Even those slower to embrace the trend, like Carlyle (CG.O), are getting about 10% of inflows from individuals. Pension plans and other stalwarts have seen their stocks and bonds slump in value, potentially leaving them overexposed to buyout funds, private credit, real estate and infrastructure. These investors don’t always have the resources or stomach to lock up their money for half a decade or longer. Third-party platforms like Moonfare are proliferating, pooling retail capital into vehicles that buy stakes in buyout funds.

☆ Private-equity firms are coming around to the idea of using more data in the investment process. It's still an uphill battle.
▼ + stars: | 2022-12-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Take Blackstone, which recently expanded a data tool it originally built for its real-estate business to be used across its PE portfolio. As recently as just a few years ago, PE firms were just starting to warm to the idea of building out data-science teams. But that tech has been a hard sell for PE firms as well, until recently. Many PE firms are just now waking up to the possibilities of the public cloud. To be fair to PE firms, figuring out how to incorporate data analysis into the investing process is no easy task.

☆ Turnover surges as funds rush to exit private equity stakes
▼ + stars: | 2022-12-19 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

Conceived as an illiquid but lucrative method of accessing unlisted companies, private investments are typically structured into funds run by buyout firms. Investment firm Hamilton Lane says an unprecedented $224 billion in private equity stakes have been offered in the secondary market this year to mid-November. Others want to deploy their capital elsewhere - a sign that private equity funds are no longer so highly regarded. The need to sell to rebalance can occur when, as this year, private equity funds have outperformed public markets. On paper, plenty of private investments, which are typically valued quarterly, appear to have done very well this year.

☆ India's Yes Bank completes transfer of $5.81 bln worth bad loans to J.C. Flowers
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 19 (Reuters) - Indian private lender Yes Bank (YESB.NS) said on Monday it completed the transfer of bad loans worth 480 billion rupees ($5.81 billion) to private equity firm J.C. "This transaction would further strengthen our balance sheet, allowing the bank to focus fully on growth and profitability as future strategic objectives," Yes Bank Chief Executive Prashant Kumar said in a statement. Yes Bank's gross bad loan ratio edged down to 12.89% at the end of the September quarter from 13.45% at the end of June. Last week, Yes Bank also concluded allotting shares and share warrants worth $1.1 billion to private equity firms Carlyle (CG.O) and Advent International, in its bid to boost its capital and fund growth. read more($1 = 82.6430 Indian rupees)Reporting by Chris Thomas in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ These are analysts’ favorite value stocks heading into 2023, including one name expected to double
▼ + stars: | 2022-12-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The IWF , its growth counterpart, has dropped 28% in that time, while the S & P 500 has fallen nearly 20%. This would mark the first time since 2016 that the IWD outpaces both the S & P 500 and IWF since 2016. The stock is trading at a slight discount relative to the S & P 500 and has buy ratings from three-quarters of analysts covering it. Mattel also made the list, with a price-to-earnings ratio of 10 and buy ratings from 73% of analysts. The stock is one the best performers in the S & P 500 for 2022, gaining more than 70% as investors have piled into the energy sector this year.

☆ India bank sale sharpens valuation rivalry
▼ + stars: | 2022-12-15 | by ( Shritama Bose | ) www.reuters.com time to read: +3 min

Sumitomo Mitsui Financial (8316.T), Carlyle (CG.O) and Fairfax Financial (FFH.TO) may each be eyeing some of the 61% stake on offer in $7 billion IDBI Bank (IDBI.NS), per reports by The Economic Times and Mint. These latecomers’ share of outstanding loans fell to 55% in March 2022 from 70% in 2016, per Reserve Bank of India data. CONTEXT NEWSIndia on Dec. 14 extended the deadline to submit preliminary bids for the sale of a controlling stake in IDBI Bank to Jan. 7 from Dec. 16. New Delhi intends to sell 30.48%; Life Insurance Corporation of India, which is almost entirely government-owned, will sell a 30.24% stake. Carlyle, Fairfax Financial and DBS Bank are considering bidding for at least 10% each in IDBI Bank, Mint reported on Nov. 7, citing unnamed sources.

☆ Link’s M&A chain breaks into pieces Down Under
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 8 (Reuters Breakingviews) - It’s hard to feel bad for well-compensated bankers but Link Administration’s (LNK.AX) M&A advisers at Macquarie (MQG.AX) and UBS (UBSG.S) need some Christmas cheer. On Thursday their client pulled the plug on negotiations for a partial takeover by Canada’s Dye & Durham (DND.TO), effectively accusing its suitor of dithering. Macquarie and UBS did manage Link’s sale of a slug of its 43% stake in mortgage-settlement company PEXA (PXA.AX) and may help distribute the remainder to shareholders. If Link offloads its troubled London unit, the slimmed-down company, worth perhaps A$800 million, could yet attract new interest. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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