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☆ Private equity has delivered the best returns during economic uncertainty: Bain & Co.
▼ + stars: | 2023-02-27 | 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 EmailPrivate equity has delivered the best returns during economic uncertainty: Bain & Co.Christophe de Vusser of Bain & Co. says it expects the same to happen "during this cycle."

☆ Meet Gen Zalpha, the powerful combo generation of teens and 20-somethings who are about to have major spending power
▼ + stars: | 2023-02-27 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Generation Zalpha is a major target for marketers due to its talent and its spending power. The internet-native Zalpha generation is a prime target for brands for another reason: its potential spending power. Patrick, the Claire's CMO, recently told AdAge that Gen Alpha is like Gen Z "on steroids." While Gen Z is often described as having grown up online, Gen Alpha was born online. Experts therefore predict Gen Alpha will be more impatient than previous generations, because they'll expect their needs to be met instantaneously.

☆ Private-Equity Activity Could Rebound in Second Half of Year, Report Says
▼ + stars: | 2023-02-27 | by ( Chris Cumming | ) www.wsj.com time to read: 1 min

Private equity’s recent challenges in fundraising, deal making and exits don’t dim the long-term outlook for the asset class, a new report from Bain & Co. says. While interest rates have risen and many investors are worried about the future, a long-expected recession hasn’t arrived, and many private-equity deal makers are ready to get back to work, said Hugh MacArthur, chairman of private equity for the Boston-based consulting firm. “Fundamentally, nothing is broken in the global economy,” he said.

SINGAPORE, Feb 24 (Reuters) - U.S streaming giant Netflix Inc (NFLX.O) is making preparations to open an office in Vietnam after years of negotiations with authorities and completing a risk assessment, two sources with knowledge of the matter said. Netflix declined to comment in response to Reuters questions about its plans and its current operations in Vietnam. The office could open as early as late 2023 but will require a lengthy regulatory process that could take longer, according to one of the sources. As Vietnamese officials grow more confident in the country's rising consumer power, however, they have begun ramping up pressure on tech firms to abide by the rules. With the fastest growing middle class in Southeast Asia, Vietnam has become a key market for tech giants.

Regional rival Air New Zealand Ltd (AIR.NZ) also reported a swing to profit in the first half ended Dec. 31 on Thursday, along with a muted outlook. Qantas Chief Executive Alan Joyce said cost of living pressures would hit discretionary spending "at some point" but so far the airline expected robust demand into mid-2024 at least. Qantas said it was facing delays of up to six months in new aircraft deliveries from Airbus SE (AIR.PA) alongside other airlines around the world. The Australian carrier said it would bolster its fleet by acquiring some older Airbus planes and exercising nine options for A220 purchases to help meet travel demand growth. "Outlook for RASK is to reduce, however off what we estimate were elevated levels," said Citi analysts in a client note.

☆ Citadel joins a growing number of firms rolling out internships for undergrads looking for a fast track to the buy side
▼ + stars: | 2023-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Investment banks, you've been put on notice: The buy side is coming for your young talent. Insider's Emmalyse Brownstein has a full rundown on an undergrad internship at hedge fund Citadel for aspiring fund managers. The Citadel Associate Program (CAP) is a tough nut to crack, with an acceptance rate of only 1%. Click here learn more about Citadel's ultra-exclusive associate program, along with tips to get ahead during the application process. And if you're wondering who is left leading the world's largest hedge fund, look no further than our list of the fund's top 11 executives.

☆ Inside Citadel's internship program for aspiring traders that paves the way for a six-figure salary at the elite hedge fund after college
▼ + stars: | 2023-02-22 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +15 min

Citadel, one of the largest hedge funds, accepts just 1% of applicants to its associate program. Few college students know what a hedge fund is, let alone that they want to work for one. Its associate program lets aspiring fund managers skip the traditional two-year investment banking program that is usually a prerequisite for a hedge fund job. The associate program is different from Citadel's broader internship program. But the accelerated nature of the CAP program appealed to him over other opportunities, he said.

☆ See the 9-slide presentation that got General Catalyst to bet $5 million on a startup helping people with disabilities get accommodations at work
▼ + stars: | 2023-02-21 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +2 min

Managing requests for disability accommodations can be a tricky and time consuming process. Disclo grabbed $5 million in seed funding from General Catalyst in February using this pitch deck. In February, Atlanta-based Disclo raised $5 million in seed funding led by General Catalyst. Disclo provided Insider with the pitch deck it used to land $5 million from General Catalyst and other investors. Here's the deck Disclo used to get $5 million from General Catalyst.

☆ 12 top investors, from Blackstone to TPG, pouring billions into production studios in a long-term bet on Hollywood's content boom
▼ + stars: | 2023-02-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Institutional investors continue to see gold in Hollywood studios, despite a slowdown in content spending. Just as investors are pouring money into film and TV production companies, they're also doubling down on studio space, betting that the content boom is here to stay. The production real estate arena has attracted giants like Blackstone, which in 2020 acquired 49% of real estate investment trust Hudson Pacific Properties' three Los Angeles-based studios. Also bulking up in Hollywood is Bain Capital Real Estate, which in 2019 created a joint venture with Bardas Investment Group, a West Hollywood real estate development and investment firm. And investors insisted to Insider that their long-term view on the space hasn't darkened, even if high interest rates and a slowdown in new content spending temper activity in the short term.

☆ Salesforce's Marc Benioff has revised a plan to stack rank a bottom 5% and ordered employees back to the office, according to leaked messages
▼ + stars: | 2023-02-21 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +6 min

Salesforce CEO Marc Benioff has made revisions to the company's annual strategic plan, including return-to-office mandates and policies that would have implemented stack ranking, according to an internal Slack message viewed by Insider. "He's still pushing performance culture," a Salesforce employee who read the revised draft told Insider. It currently requires three days a week in the office for non-remote employees and four days a week for employees in "non-remote" and "customer-facing" roles. Revenue for fiscal 2022 grew 25%, to $26.5 billion, according to the company's annual report. Or, as an employee previously posted in a Slack channel, "Can execs commit to never referring to Salesforce employees as 'family' again?

☆ CNBC anchor Kelly Evans: You don't have to choose between personal and professional ambitions
▼ + stars: | 2023-02-17 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

But according to Kelly Evans, anchor of CNBC's "The Exchange" and "Power Lunch," you can "be ambitious at home as well." Ambition drives Evans, 37, every day as she reports on what's happening in the world of finance, real estate and economics. [I have] a relentless drive and a hunger for information and for understanding these complex global markets," Evans tells CNBC. And you can have that ambition to have a beautiful home life and still have this drive in the workplace. "And it motivates me to be able to now have people to share my professional life with."

☆ Meet a 24-year old living with her parents who splurges on weekend trips, a Chanel handbag, and a Balmain jacket with all the money she'd spend on rent
▼ + stars: | 2023-02-16 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Anastasia Ricci, 24, decided to stay with her parents during the pandemic and never left. With all the money she's saving on rent she's able to buy designer clothes and expensive trips. Anastasia Ricci in a $1,700 Balmain jacket. Anastasia Ricci bowling in Miami. Anastasia Ricci during a $1,200 weekend trip to Miami.

☆ AMC Networks Owner James Dolan Plots Turnaround, Floats Spouse as CEO Candidate
▼ + stars: | 2023-02-15 | by ( Jessica Toonkel | ) www.wsj.com time to read: 1 min

James Dolan, whose family controls AMC Networks, is interim executive chairman as the company searches for a new CEO. Shortly after becoming chief executive of AMC Networks Inc. last fall, Christina Spade held a town hall at New York’s Museum of the Moving Image to give an update on the state of the business. She also addressed staffers’ anxiety about potential layoffs. Ms. Spade said any job cuts at the media company, whose flagship cable channel is known for such hits as “Breaking Bad” and “The Walking Dead,” would be thoughtful and targeted, not drastic, and would begin in early 2023, according to people familiar with the event, which was in early November. Ms. Spade had hired consulting firm Bain & Co. to craft a measured approach, they said.

☆ Cheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve Pagliuca
▼ + stars: | 2023-02-14 | 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 EmailCheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve PagliucaSteve Pagliuca, Bain Capital senior advisor, and co-owner of the Boston Celtics, joins 'Squawk Box' to discuss dollar values normalizing, the strategic onshoring of US manufacturing, and the carbon transition.

☆ More people will make thousands by selling stakes in their homes to Wall Street firms, according to one company that already sees elevated interest from homeowners
▼ + stars: | 2023-02-10 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

But high mortgage rates are making it difficult for homeowners to take advantage of this wealth. Home equity investments are a way to raise cash without taking out a new loan. However, higher mortgage rates have made it more difficult for Americans to take advantage of this wealth. He said the company foresees "strong demand" for the home equity investments in the coming months. According to a Redfin analysis of government data, 85% of US homeowners tote a mortgage rate far below today's level of 6%.

☆ Private-equity salaries revealed: Here's how much top firms like Blackstone, KKR, and Oaktree are offering 2024 associates
▼ + stars: | 2023-02-09 | by ( Emmalyse Brownstein | Rachel Durose | ) www.businessinsider.com time to read: +8 min

Some of the most recent private equity recruits will rake in nearly $200,000 in base pay alone. Among the firms recruiting are Bain Capital, Blackstone, and KKR & Co. — three of the largest private-equity firms in the world based on funds raised in the last five years. These private-equity firms, along with others, have increasingly accelerated their recruiting timelines to get ahead of competitors, as Insider previously reported. To woo promising junior talent, private-equity firms offer sky-high salaries and even more enticing bonus propositions, much like in investment banking, from which these firms cull most of their talent. Oaktree Capital ManagementOaktree Capital Management was founded in 1995, and has $170 billion in AUM, according to its website.

BEIJING, Feb 7 (Reuters) - China's luxury market contracted 10% in 2022 on the year, snapping a five-year streak of high growth, as Beijing's zero-COVID policy and a slowing economy hit spending, Bain & Company said in a report on Tuesday. The luxury market grew 42% annually between 2019 and 2021 but its fortunes changed in 2022, after China doubled down on stamping out COVID-19 with city-wide lockdowns and a regulatory crackdown hit the property sector and fuelled unemployment. The figure compared to growth of 1% between 2012 and 2016, and a 26% increase in sales between 2016 and 2019, Bain said. Mirroring recent results from the likes of French luxury goods group LVMH (LVMH.PA) and Italy's Salvatore Ferragamo (SFER.MI) for 2022, Bain said all luxury categories were affected to varying degrees during the year. While categories with high online penetration, such as luxury beauty, suffered single-digit declines, the watch market fell the most, with sales dropping 20% to 25% from 2021.

☆ Generations Y, Z, and Alpha will become the biggest buyers of luxury goods by 2030, a new study shows
▼ + stars: | 2023-02-07 | by ( Felise Seah | ) www.businessinsider.com time to read: +4 min

Younger generations are set to become the largest buyers of luxury goods by 2030, the report says. Bain's study is based on information and data provided by the Fondazione Altagamma, an Italian luxury goods body with over 280 luxury companies as members. Millennials born between 1980 to 1994 are dubbed Generation Y, whereas Generation Z refers to those born between 1995 and 2009. These habits could also be a result of the booming luxury resale market, where Generation Y, Z, and Alpha are treating luxury goods as valuable investments. This is expected to make luxury goods much more accessible and bolster sales to Generation Y, Z, and Alpha consumers.

☆ There are plenty of open jobs for tech workers — they're just not at tech companies
▼ + stars: | 2023-02-07 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +3 min

Demand for tech workers at non-tech companies has reportedly outstripped demand at tech firms. The findings come as tech companies continue to cut budgets and lay off workers by the thousands. Tech jobs, highly sought after for their high pay and cushy benefits, seem less secure than ever as nearly every major tech company has cut headcounts and slashed budgets in the past six months. The bloodbath shows no sign of slowing down: Nearly 95,000 tech workers have been laid off in the first few weeks of 2023, according to layoff tracker layoffs.fyi. A silver lining for tech workers?

☆ A company-wide Zoom meeting versus individual calls: Insiders reveal how multi-billion-dollar startups Clari and Workato slashed jobs.
▼ + stars: | 2023-02-06 | by ( April Joyner | Stephanie Palazzolo | Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Unicorns Clari and Workato are among the latest startups to cut jobs. Workato laid off 10 percent of its workforce, and Clari had its second round of cuts in a year. Clari's layoffs caught the startup's staffers off guard, according to one employee Insider spoke to. Though the layoffs were unexpected, the former Workato employee said, they appreciated the way the company delivered the news. The former Clari employee Insider spoke with said that the spate of layoffs had prompted them to reconsider their dedication to the tech industry.

☆ Sixth Street preparing bid for German football media rights - FT
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - U.S. investor Sixth Street is among the companies preparing to bid for a portion of the German football league's media and commercial rights, the Financial Times reported on Monday, citing people familiar with the matter. The report comes as Germany's soccer governing body is pressing on with plans to sell parts of the Bundesliga media rights for the country's first and second leagues to private investors. The German football league was initially expected to sell a 20% stake in a newly created company handling the Bundesliga's media rights in October, but pushed it to this year after a lack of consensus among the league clubs. The business is valued at between 15 billion euros and 18 billion euros, with a 20% stake priced at about 3.6 billion euros ($3.89 billion). Sixth Street declined to comment on the Financial Times report, while DFL and Bundesliga did not immediately respond to Reuters requests for comment.

☆ How Zelle is different from Venmo, PayPal and CashApp
▼ + stars: | 2023-02-04 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

More than half of smartphone users in the U.S. are sending money via some sort of peer-to-peer payment service to send money to friends, family and businesses. Stocks of payment services like PayPal, which owns Venmo, and Block, which owns Cash App, boomed in 2020 as more people began sending money digitally. One limitation of PayPal, Venmo and Cash App is that users must all be using the same service. Zelle, on the other hand, appeals to users because anyone with a bank account at one of the seven participating firms can make payments. Watch the video above to learn more about why the banks created Zelle and where the service may be headed.

☆ Germany's DFL presses on with deal for media rights
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 4 (Reuters) - Germany's soccer governing body is pressing on with plans to sell parts of the Bundesliga media rights for the country's first and second leagues to private investors, the Deutsche Fussball Liga (DFL) said in a media release on Friday. Valuing the business at between 17 and 20 billion euros, the transaction could bring in 2.5-3 billion euros ($2.70-3.24 billion), Bild said. It stressed it was not about a sale of shares in the Bundesliga but a temporary minority interest in license revenue from the media rights. A spokesperson for DFL, contacted on Saturday about the Bild report, said there was no new comment beyond the Friday night press release. The rights, according to the Bild report, would be granted for 25 to 30 years, with the 36 clubs retaining control.

☆ China's Tencent wants to expand its presence in Singapore — and Chinese tourists are a big reason
▼ + stars: | 2023-02-03 | by ( Kimberley Kao | ) www.cnbc.com time to read: +3 min

Budrul Chukrut | Sopa Images | Lightrocket | Getty ImagesTencent is expanding its presence in Singapore — and China's a big reason. The Chinese tech giant has struck new partnerships with Singapore businesses such as ride-hailing app Grab through its digital messaging app, WeChat/Weixin. In Grab's mini-program, Chinese travelers can also choose to pay via WeChat/Weixin Pay in Chinese yuan. "Chinese travelers represented the largest group of non-Southeast Asian users using the Grab app in 2019," he added. Singapore did not tighten travel restrictions for Chinese travelers after China announced the easing of its border controls.

☆ Luxury stocks rally from China reopening, but world's largest luxury market may choose to shop 'in-house'
▼ + stars: | 2023-02-01 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

In the past, trips abroad often included personal luxury purchases for affluent Chinese consumers looking to take advantage of currency and tax benefits. CFOTO | Future Publishing | Getty Images"China's domestic luxury consumption should far exceed that of overseas luxury consumption," said Zhang, who estimates that in the long run, domestic luxury consumption will account for 70% of the Chinese luxury consumers' spending, and a mere 30% from abroad. That would be the inverse of spending patterns before 2017, when over 70% of Chinese luxury spending took place outside of China, according to Zhang. He added it is unlikely the share of overseas luxury shopping for Chinese consumers will recover to pre-pandemic levels of over 70%. The increasing digitalization of shopping processes has also facilitated Chinese shopping online for luxury goods, Bain & Co said in a report.

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