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☆ Activist Investor Calls for Overhaul of Korean Tobacco Giant KT&G
▼ + stars: | 2022-10-26 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

Flashlight Capital wants KT&G to separate its ginseng unit from its tobacco business. Workers sort ginseng in Wonju, South Korea, last year. An investment firm founded by a former Carlyle Group executive has acquired a minority stake in a South Korean tobacco conglomerate and is calling for a business overhaul and the spinoff of its ginseng business, according to a letter viewed by The Wall Street Journal. Sanghyun Lee , who served as Carlyle head of Korea from 2011 to 2019, now runs Flashlight Capital Partners Pte. It has built a roughly 1% stake in KT&G according to people familiar with the matter.

☆ They were on the run from the Taliban, abandoned by their US allies — until a Wall Street banker decided to smuggle them out of Afghanistan
▼ + stars: | 2022-10-23 | by ( Nina Burleigh | ) www.businessinsider.com time to read: +29 min

His daughter worked for the US-backed government in Kabul, prosecuting the Taliban and their followers for acts of violence against women. The war in Afghanistan effectively began on 9/11, with the attacks on Wall Street and the Pentagon. Last summer, when the Taliban overran Kabul, Calbos was in Greece visiting his father. "I see kind of a mirror image to mine in his history and his family," Calbos says. With the clock ticking on the family's temporary visas, Calbos scrambled to arrange a flight out of Pakistan.

☆ Meet 9 top media bankers transforming the M&A landscape and driving deals for Warner Bros. Discovery, Legendary, Amazon, and more
▼ + stars: | 2022-10-20 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Brad Pitt's production company, Plan B, and Diamond Sports Group both recently tapped big banks to explore their options. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Moelis and LionTree were just tapped to help figure out what's next for Sinclair's Regional Sports Networks, Diamond Sports Group, while Brad Pitt's production company, Plan B, also hired Moelis to shop the production company, according to Variety. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.

☆ Serie A seeking to triple overseas media revenue
▼ + stars: | 2022-10-19 | by ( Elvira Pollina | ) www.reuters.com time to read: +3 min

Under a scenario drafted by Serie A Chief Executive Luigi De Siervo, the league sees international broadcasting revenue potentially growing to some 1.1 billion euros in the 2024-2027 cycle, to reach about 1.9 billion euros in the 2027-2030 period. Projections for the league's domestic rights point to a potential target of 3.2 billion euros over the 2024-2027 period from some 2.9 billion euros Serie A pocketed thanks to existing TV deals expiring in 2024. Serie A's domestic TV revenues could increase slightly to hit 3.4 billion euros in the 2027-2030 period. The estimates for Serie A's media business are included in a document presented to the 20 clubs as the league prepares to kick-off its upcoming round of broadcasting tenders next year. Such a move could allow the entrance of private equity firms interested in investing in the development of the league's media business, a route which Spain's La Liga and France's Ligue 1 have already taken.

☆ Marc Andreessen on the best investment advice he's ever received and 4 other money insights
▼ + stars: | 2022-10-16 | by ( David Rubenstein | ) www.businessinsider.com time to read: +4 min

Marc Andreessen: From Warren Buffett, probably: Put all your eggs in one basket and watch that basket. Marc Andreessen: People read about something in the paper, see it on TV, and take a flyer without deeply understanding it. Marc Andreessen: For most forms of investing, the mistakes are the investments you make where you lose money. David Rubenstein: If somebody wants to be a venture capital investor, what would you like them to know most about the art of` venture capital investing? Marc Andreessen: It's an alchemy of understanding people, understanding technology, understanding markets.

☆ Green hydrogen corridor aims to harness Spanish sunshine and decarbonize Europe's industrial north
▼ + stars: | 2022-10-12 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

"The co-operation is part of Rotterdam's ambition to supply Northwest Europe with 4.6 million tonnes of green hydrogen by 2030," it went on to add. "We are therefore setting up multiple trade lanes for green hydrogen, together with exporting countries and private businesses all over the world," he added. If the electricity used in this process comes from a renewable source such as wind or solar then some call it "green" or "renewable" hydrogen. Tuesday's announcement said Cepsa was aiming to "lead green hydrogen production in Spain and Portugal by 2030 with a production capacity of 2GW." It added that it would develop a 7 GW portfolio of renewable energy projects — including solar and wind — to produce the renewable energy required for green hydrogen generation.

☆ Exclusive: Carlyle prepares sale of Gabon oil firm Assala Energy - sources
▼ + stars: | 2022-10-12 | by ( Ron Bousso | Patrick Werr | ) www.reuters.com time to read: +2 min

SummarySummary Companies Carlyle hopes to raise over $1 billion from sale -sourcesAssala acquired in 2017 with Shell deal in GabonLONDON, Oct 11 (Reuters) - Private equity fund Carlyle Group (CG.O) is preparing to launch the sale of its Gabon-focused oil and gas producer Assala Energy, hoping to raise over $1 billion amid high global energy prices, industry sources said. Carlyle International Energy Partners, the fund's energy arm, first invested in Assala in 2017 when it acquired Shell's (SHEL.L) operations in Gabon for $628 million. Soaring oil and gas prices over the past year offer a favourable backdrop for energy companies to sell assets, although the long-term outlook for fossil fuel prices remains uncertain as economies shift to low-carbon energy. Carlyle's other investments include North Sea-focused Neptune Energy and European refiner Varo Energy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ron Bousso Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Meet 9 top media bankers transforming the M&A landscape as streaming video reshapes entertainment
▼ + stars: | 2022-09-29 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Company valuations are set to fall back to earth in 2023, and private equity and strategics are lying in wait. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Joshua Grode's Legendary Entertainment, backed by Dalian Wanda and now Apollo Group, which took a stake in the studio in January. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.

☆ Inflation has yet to peak, CFOs say, and recession is already here or soon to hit
▼ + stars: | 2022-09-29 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

The CNBC CFO Council survey is a sample of the current outlook among top financial officers. More than a quarter of the CFOs say inflation is the biggest external risk factor facing their businesses. With persistent inflation, CFOs have shifted their view regarding the timing of a recession as a result of the Fed's rate hikes. Nineteen percent of CFOs now say they expect a recession in the fourth quarter of this year, up from 13% in Q2. The CNBC survey finds companies still in hiring mode, with 57% of CFOs saying they expect to add to headcount in the next year.

☆ Virginia Gov. Youngkin predicts GOP midterm wins could help ease recession fears
▼ + stars: | 2022-09-28 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

Virginia Governor Glenn Youngkin predicts that Republican gains in the 2022 midterms could help curb recession fears. Youngkin, a Republican, said Americans generally think his party will take back the House and that he's "cautiously optimistic" they will also retake the Senate as well. Youngkin has declared Virginia "open for business" and sought to attract companies to the state. Youngkin predicted that Republican gains in the 2022 midterms could boost the economy in the same way that, he says, former President Donald Trump's 2016 win did. When Donald Trump won all of the sudden optimism went back into the market and we avoided a recession."

☆ Private equity funds approach Italy's Serie A to explore media rights deal -sources
▼ + stars: | 2022-09-28 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

The approach by the four private equity firms comes after Serie A last year failed to reach a media rights deal worth 1.7 billion euros ($1.7 billion) with a group of funds led by CVC Capital Partners due to opposition from some of its clubs, including Juventus (JUVE.MI) and Lazio (LAZI.MI). The sources, who declined to be named because talks are confidential, said representatives for Apax, Carlyle and Three Hills met with Serie A top executives earlier this week. One of the sources said the three funds, which are working with Italian law firm Zoppini, could present a joint preliminary proposal in the next few days. Searchlight representatives held a separate meeting with Serie A chiefs, the sources said, adding the fund is also considering submitting a formal expression of interest. The funds' interest was briefly discussed at a closed-door meeting the 20 Serie A clubs held in Milan on Wednesday, the sources said, adding Serie A would share with the clubs any proposal from the private equity investors.

☆ Watch live: Virginia Gov. Glenn Youngkin interviewed at CNBC's Delivering Alpha conference
▼ + stars: | 2022-09-28 | by ( Emma Kinery | ) www.cnbc.com time to read: 1 min

Virginia Republican Gov. Glenn Youngkin sits down with CNBC Senior Congressional Correspondent Ylan Mui at CNBC's Delivering Alpha conference Wednesday. Youngkin previously was the co-chief executive officer of The Carlyle Group, one of the world's most influential private equity firms, where he worked for 25 years before retiring. As governor, Youngkin has declared Virginia "open for business" and sought to attract companies to the state, but has also faced backlash for his controversial culture-war stances. Virginia is ranked third in CNBC's America's Top States for Business in 2022 after holding the top spot for the previous two consecutive years.

☆ Waiting for market bottom is a mistake and investors should buy now, David Rubenstein says
▼ + stars: | 2022-09-28 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Investors looking to scoop up deals and position themselves for long-term growth should act now instead of waiting for stocks to bottom, David Rubenstein said Wednesday. "People shouldn't be afraid of going in and buying things now," The Carlyle Group co-founder said during CNBC's Delivering Alpha Investor Summit in New York City. He also noted that investors should start buying now rather than try to time the market bottom. Still, for investors that want to take advantage of the market, she recommends active management. "You have to find active [management] and you have to go into thematic areas where you can generate some returns," she said.

☆ WATCH: Billionaire investor David Rubenstein breaks down the key qualities of the greatest money managers he's interviewed — and the most important things you should consider before buying index funds
▼ + stars: | 2022-09-27 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

David Rubenstein says defying conventional wisdom is a top trait of great investors. Average investors should stick to index funds or bond index funds that track the market. Rubenstein shared the top three traits of a great investor, the first of which is the ability to defy conventional wisdom. Finally, these great investors embody an intellectual curiosity that exceeds the average person's. When it comes to advise for someone who isn't a professional investor or doesn't have time for in-depth research, Rubenstein recommends sticking to index funds or bond index funds that track the market.

☆ How Blackstone, the private equity giant behind cult-favorite sunscreen Supergoop, is thinking about its next big consumer bet
▼ + stars: | 2022-09-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +6 min

The growth of e-commerce has opened new private equity opportunities, a top investor said. The $941 billion private equity firm took a majority stake in Supergoop last December. The investment valued Supergoop, which makes sunscreen and sun protection-focused makeup, at some $600 million to $700 million at the time, Bloomberg News reported. "What is at work here is the colossal, growing nature of private equity everywhere," said Carter Dougherty, communications director for the progressive advocacy coalition Americans for Financial Reform. Some $78 billion of that is in private equity, with the rest across real estate, hedge fund solutions, and credit and insurance, according to filings.

☆ 'Moneyball' manager Billy Beane says Warren Buffett's investing lessons apply to baseball too - and Seth Klarman agrees
▼ + stars: | 2022-09-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

"Moneyball" star Billy Beane said Warren Buffett and Charlie Munger's lessons apply to baseball. Author Michael Lewis profiled Beane in "Moneyball," and Brad Pitt played the baseball executive in the movie adaptation of the book. "It's about finding value in athletes, in baseball players — but those principles apply across areas," the billionaire investor and Baupost Group CEO said. Klarman has been heralded as "the next Warren Buffett," including by the Berkshire chief himself. Read more: Table tennis champion Ariel Hsing has been friends with Warren Buffett for more than a decade.

☆ Bank of Cyprus bid makes case for lender buyouts
▼ + stars: | 2022-09-22 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

Lone Star’s roughly 700 million euro offer for Bank of Cyprus (BOCH.CY) shows that the sector may have reached such a level in Europe. Chief Executive Panicos Nicolaou churned out a respectable 7.3% return on tangible equity (ROTE) in the first half of 2022, excluding one-off charges. That helps explain why the bank has rebuffed three offers from U.S. fund Lone Star, the last of which valued it at almost 0.4 times tangible equity. Even if Bank of Cyprus hits that lower number, a fair valuation might be closer to 0.8 times tangible equity, or around 1.3 billion euros – double Lone Star’s offer. In making the case for bank buyouts, Lone Star may be doing the whole sector a favour.

☆ The best returns come when markets are depressed as they are now, but there will be more pain for 6-12 months, billionaire David Rubenstein says
▼ + stars: | 2022-09-22 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

Billionaire David Rubenstein thinks the market downswing is a buying opportunity. The Carlyle co-founder told CNBC that investors shouldn't exit markets too soon. "What Warren Buffet and others have done historically is buy when the markets are cheap or when there's blood in the streets," he said. "Right now is not a time to panic and rush out of the markets, in my view." He added that while some traders are growing anxious, "the best returns probably come from times when markets are depressed like this."

☆ Embattled CEO Werner Baumann enters his final chapter at Bayer, aiming to turn the German pharma giant into a cancer powerhouse
▼ + stars: | 2022-09-22 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +6 min

With a successor search underway, Werner Baumann is entering his last chapter as Bayer's CEO. Baumann told Insider he's more excited today about Bayer's future than several years ago. The exec wants Bayer to become a top 10 cancer player by 2030, and recently opened a Cambridge lab. CAMBRIDGE, Massachusetts — Within his first month as CEO of the German giant Bayer, Werner Baumann took a big, legacy-making swing. Baumann says Bayer's future is in oncologyWerner Baumann, right, CEO of Bayer, and Werner Wenning, chairman of the Supervisory Board of Bayer.

☆ The Fed likely knows interest rate hikes will produce a hard landing, says David Rubenstein
▼ + stars: | 2022-09-22 | 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 EmailThe Fed likely knows interest rate hikes will produce a hard landing, says David RubensteinBillionaire investor and philanthropist David Rubenstein, co-founder of the Carlyle Group, joins CNBC's 'Squawk Box' to discuss his new book 'How to Invest: Masters on the Craft,' weigh in on the Federal Reserve's latest interest rate hike, and more.

☆ Watch CNBC's full interview with billionaire investor David Rubenstein on the Fed, markets and more
▼ + stars: | 2022-09-22 | 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 Rubenstein on the Fed, markets and moreBillionaire investor and philanthropist David Rubenstein, co-founder of the Carlyle Group, joins CNBC's 'Squawk Box' to discuss his new book 'How to Invest: Masters on the Craft,' weigh in on the Federal Reserve's latest interest rate hike, and more. Rubenstein also explains why he thinks now is not the time to "rush out of the markets" amid the Fed's latest moves. "I think there's going to be a little bit of pain for at least six months to a year," Rubenstein tells CNBC.

☆ U.S. Fed's goal is to 'take away' pricing power, says investment firm
▼ + stars: | 2022-09-21 | 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 EmailU.S. Fed's goal is to 'take away' pricing power, says investment firmJason Thomas of Carlyle says the way to do that is to "create fears of recession" even if it may not be the "real thing."

A screen announces the listing of private-equity firm TPG, during the IPO at the Nasdaq Market site in Times Square in New York City, U.S., January 13, 2022. TPG kicked off fundraising of its eighth private equity fund for the region in January, targeting $6 billion, the company said during its March earnings call. If successful, the fund will be its largest Asia fund to date. Hong Kong-based Baring Private Equity Asia last week announced it had closed its eighth, and largest, pan-Asia fund at $11.2 billion. read moreTPG's U.S rival Carlyle Group (CG.O) aims at raising $8.5 billion in a new Asia fund, according to separate people familiar with the situation.

TPG kicked off fundraising of its eighth private equity fund for the region in January, targeting $6 billion, the company said during its March earnings call. If successful, the fund will be its largest Asia fund to date. Hong Kong-based Baring Private Equity Asia last week announced it had closed its eighth, and largest, pan-Asia fund at $11.2 billion. read moreTPG's U.S rival Carlyle Group (CG.O) is aiming to raise $8.5 billion in a new Asia fund, according to separate people familiar with the situation. It last raised a $4.6 billion Asia fund in February 2019.

☆ Dow slides 300 points as investors brace for rate-hike decision from the Federal Reserve
▼ + stars: | 2022-09-20 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

US stocks closed lower Tuesday with the Dow Jones Industrial Average shedding more than 300 points. Investors remain fixated on the central bank ahead of the next rate hike announcement on Wednesday. The 2-year Treasury yield surged as high as 3.983% intraday, the highest since 2007. Stocks are under pressure from an anticipated 75-basis-point rate hike from the central bank, which will announce its policy decision Wednesday. The 2-year Treasury yield, which is sensitive to Fed moves, surged as high as 3.983% intraday to hit the highest rate since 2007.

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