DIRS.INFO The most relevant business & tech news

☆ Cyanide maker Draslovka mulls equity raise to drive new mining technology
▼ + stars: | 2023-06-30 | by ( Jan Lopatka | ) www.reuters.com time to read: +3 min

REUTERS/Jan LopatkaPRAGUE, June 30 (Reuters) - Cyanide maker Draslovka is considering an equity fundraising worth hundreds of millions of dollars support the roll out of new technology that could help miners slash use of cyanide, its CEO said in an interview on Friday. The privately-held Czech company is the world's leading sodium cyanide maker. It acquired Australian Mining & Process Solutions last year, which developed innovative glycine leaching technology that can cut cyanide usage in mining by about half, depending on the circumstances. Draslovka hopes the technology will spearhead a transformation of the industry, raising its effectiveness and reducing environmental impacts. Bruzek said Draslovka had another 10 similar potential projects lined up by year-end, including a top nickel and cobalt miner.

Persons: Pavel Bruzek Jr, Jan Lopatka, Draslovka, Bruzek, JP Morgan, Barrick, Emma Rumney Organizations: Draslovka, REUTERS, Australian Mining, U.S, Oaktree Capital Management, Partners, Thomson Locations: Prague, Czech Republic, Jan Lopatka PRAGUE, Czech, London, United States, Sasol, South Africa

☆ The billionaires' beef at Two Sigma seems pretty petty
▼ + stars: | 2023-06-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

ICYMI: This is the last week of 10 Things on Wall Street. Insider's Rebecca Ungarino has more details on how long the beef between Overdeck and Siegel has been brewing behind the scenes. What stands out to me about the drama at Two Sigma is how it all seems to be so petty. The Two Sigma cofounder was included only as an example of the type of managers Haider had eclipsed. The asset manager tapped two internal executives to serve as co-CEOs of the firm, succeeding CEO Jay Wintrob, The Wall Street Journal reports.

Persons: Dan DeFrancesco, I'm, Billy Joel's, —, we've, Goldman, Cofounders David Siegel, John Overdeck, David Siegel, cofounders, Insider's Rebecca Ungarino, Siegel, Rebecca, Haidar Capital's Said Haidar, Haider, Penny, Warren Buffett, Charlie Munger, Scott Olson, Ruobing Su, Michael Broadbery, Goldman Sachs, Maza, Andreessen Horowitz, Seth Klarman, Jay Wintrob, Robert O'Leary, Armen Panossian, Everybody's, they're, Joey Hadden, Jeffrey Cane, Hallam Bullock Organizations: Sigma, Baupost, Oaktree Capital, Street, Wall, LinkedIn Locations: Omaha, New York, London

☆ Oaktree to Name Robert O'Leary and Armen Panossian as Co-CEOs
▼ + stars: | 2023-06-28 | by ( Miriam Gottfried | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/oaktree-capital-to-appoint-new-leadership-at-firm-d81cfbe7

Persons: Dow Jones

☆ How to land a job with Blackstone, Apollo, KRR, and other private equity titans
▼ + stars: | 2023-06-06 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Private equity is often seen as the Holy Grail of finance jobs — but breaking in can be challenging. We also have data on private equity pay and the industry's top recruiters. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit young talent from investment banks. These days, the private equity recruiting process has started earlier than ever, resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day.

Persons: —, bymuratdeniz, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Carlyle, Alex Crisses, Thoma Bravo, Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Service, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel

In 2020, Bain Capital set up a previous global fund after securing $3.2 billion in commitments. The program was previously called Bain Capital Distressed and Special Situations Fund and used to sit within Bain Capital's credit business. Bain Capital's special situations strategy is now a standalone business, after being carved out with an independent team outside the umbrella of the credit unit. Globally, Bain Capital currently has $16 billion of assets under management as part of its special situations strategy. Last year, Bain Capital closed a $2 billion "special situations fund" for Asia Pacific to cover a range of asset types, which included a focus on real estate.

☆ Davos vs. Milken: Battle of the high-profile conferences
▼ + stars: | 2023-05-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Arguably the biggest financial conference of the year just wrapped in Beverly Hills. Insider's Dakin Campbell, who was on the ground at Milken, has a report on the five biggest topics discussed this year. Dakin's report got me thinking about how Milken stacks up against another high-profile conference: Davos. Milken is also designed, thanks to its namesake, with a keen eye on what the finance industry wants, he added. Click here to read more about the biggest topics being discussed at the Milken Conference.

☆ Billionaire investor Howard Marks tells clients he is taking a leave of absence after a recent throat cancer diagnosis: 'I should be fully back in action around mid-summer'
▼ + stars: | 2023-05-04 | by ( Rebecca Ungarino | Kaja Whitehouse | ) www.businessinsider.com time to read: +2 min

Howard Marks told clients that he is taking a leave of absence after a throat cancer diagnosis. Marks, who cofounded Oaktree, said he expects to be "fully back in action around mid-summer." Marks, 77, does not expect "any negative consequences from the treatment, or any lasting limitations on my activities." Billionaire investor and Oaktree Capital Management co-chairman Howard Marks said in a note to Oaktree clients on Wednesday that he is taking a leave of absence while he undergoes treatment after a recent throat cancer diagnosis. "I'm writing to let you know I was recently diagnosed with a relatively common form of throat cancer.

☆ David’s needs bachelorettes, not just brides
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 18 (Reuters Breakingviews) - With marriage rates on the decline, David’s Bridal has once again tied itself in a knot. Last time this happened in 2018, David’s courted a group of lenders led by Oaktree to save it. loadingFunding for nuptial-related companies has been on the decline since, as has business at David’s. Modern brides are opting for cheaper casual and secondhand dresses over fancy getups, but they appear more reticent to compromise on pre-wedding soirees. It suggests perhaps that David's fresh start should embrace an old saying, with a twist: always the bachelorette, never the bride.

☆ Howard Marks says commercial real estate defaults could add to market stress in the months ahead
▼ + stars: | 2023-04-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Market veteran Howard Marks is sounding the alarm on commercial real estate, with an anticipated wave of mortgage defaults set to add stress to the financial system. The longtime investor called commercial real estate loans "one of the biggest worries" U.S. banks face today in the face of higher interest rates and a looming recession. "Higher interest rates call for higher demanded capitalization rates, which will cause most real estate prices to fall," Marks said. To be sure, Marks said he's not sure if banks will suffer losses on their commercial real estate loans, or what the magnitude will be. "Mortgage defaults generally don't signal the end of the story, but rather the beginning of negotiations between lenders and landlords," Marks said.

☆ Howard Marks says rock-bottom rates are history, bitcoin has its uses, and AI won't replace the best investors. Here are his 8 best quotes from a new interview.
▼ + stars: | 2023-04-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Howard Marks says interest rates won't return to zero anytime soon. The billionaire investor warns the ballooning US federal debt may cause problems in the future. Marks says AI won't replace the best investors, and the banking fiasco shone a light on bitcoin. (Marks was warning that continued growth in the US federal debt will likely have serious consequences down the line.) It should be harder and harder and harder to run money and be paid highly for producing inferior.

☆ Guest view: Direct lending may be entering new era
▼ + stars: | 2023-04-13 | by ( Armen Panossian | ) www.reuters.com time to read: +5 min

NEW YORK, April 13 (Reuters Breakingviews) - Challenges in the banking system are expanding the opportunities available to direct lenders. I believe direct lenders’ market share will increase significantly in the future due to the substantial mismatch of supply and demand that has emerged in the market for funding large-scale LBOs. Direct lenders, including funds at Oaktree, are now seeking to fill this gap. Not all direct lenders will be able to take advantage of this opportunity, though. This, in turn, is attracting interest and capital from those direct lenders able to fill the massive gap.

☆ How shadow bankers are already emerging as winners in the SVB collapse
▼ + stars: | 2023-03-14 | by ( Rebecca Ungarino | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

But the momentum already behind the secretive private credit space has picked up — fast. He was witnessing a new willingness from borrowers to turn first to private credit, a market that has grown yet generally remains more opaque than its public-market counterparts. "Borrowers used to look at these banks and say, 'Look, the banks, they've been around forever. The private lenders say that privacy is all part of the pitch. Money managers smell opportunityThe momentum already behind the secretive private credit space has gained steam as the SVB collapse pushes companies to consider alternate sources of debt and, on the other side, private credit managers seek out new targets.

☆ Exclusive: Semiconductor manufacturer Infinera explores sale -source
▼ + stars: | 2023-03-14 | by ( Milana Vinn | ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Infinera Corp (INFN.O), a U.S. manufacturer of semiconductors for the telecommunications industry that competes with China's Huawei, is exploring options that include a sale of the company, according to a person familiar with the matter. The San Jose, California-based company, which has a market value of $1.6 billion, is working with investment bank Centerview Partners on a sale process that will launch in a few weeks, the source said. There is no certainty that Infinera will reach any deal, added the source, who requested anonymity because the deliberations are confidential. Infinera and Centerview did not respond to requests for comment. Infinera makes optical semiconductors and networking equipment for fixed line and mobile telecommunications networks.

☆ Hedge funds offering to buy startup deposits stuck at Silicon Valley Bank -Semafor
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] The main entrance of Silicon Valley Bank is seen in Menlo Park, California U.S. March 10, 2023. REUTERS/Michaela Vatcheva NO RESALESMarch 11 (Reuters) - Hedge funds are offering to buy startup deposits stranded at Silicon Valley Bank (SVB) for as little as 60 cents on the dollar, Semafor reported on Saturday, citing people familiar with the matter. Traders from investment firm Jefferies are also contacting startup founders with money stuck at the bank, offering to buy their deposit claims at a discount, The Information reported separately. Jefferies is offering at least 70 cents on the dollar for deposit claims, the report said, citing several people with direct knowledge of the matter. Silicon Valley Bank imploded after depositors, concerned about the lender's financial health, rushed to withdraw their deposits.

☆ Former Warner Bros. Co-CEO Lists California Ranch for $24.95 Million
▼ + stars: | 2023-03-10 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

A California ranch owned by entertainment mogul Bob Daly and his wife, songwriter Carole Bayer Sager, is coming on the market for $24.95 million. Known as Oaktree Ranch, the roughly 19-acre Calabasas property includes a main residence, a stable, a caretaker’s house, a pool and a tennis court, according to marketing materials. “People buy a ranch in Montana,” Mr. Daly said, but “I didn’t want to fly anywhere.” He keeps a pony, miniature horses, goats, and dozens of chickens and pigeons on the ranch, he said.

☆ Private equity firms lend less as demand cools
▼ + stars: | 2023-03-03 | by ( Chibuike Oguh | ) www.reuters.com time to read: +4 min

The amount of loans disbursed by direct lenders so far in 2023 has not shown any pickup, the Refinitiv data shows. Also weighing on deal volumes is the cost of borrowing from private equity firms. This has dampened demand for loans from private equity firms. For their part, private equity firms have also become more risk-averse when it comes to lending, as the economic slowdown and sticky price inflation erode the credit worthiness of some borrowers. To be sure, major deals using private equity firms as lenders are still getting done as banks have continued their retrenchment from risky debt.

☆ The unraveling of fintech darling Vise
▼ + stars: | 2023-03-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +28 min

It was April, and more than two dozen salespeople who worked for the fintech startup Vise had been ordered to a multiday off-site at the W Hoboken hotel in New Jersey to share exhaustive reports on their performance. Even salespeople at bigger, established, top-tier investment-management firms typically wouldn't close $250 million in a year, multiple sales employees said. (K-means clustering is an unsupervised machine-learning algorithm often referred to as a form of AI, Vise's founders said). (Vise's founders disputed this, saying the company received updated financial data only once a day for its portfolio-construction engine.) And to address its "leaky funnel" of overestimating prospective sales, Vise was to stop outreach to new clients while it onboards and upsells to existing clients, the document said.

☆ Goldman Sachs' investor day led to more questions than answers
▼ + stars: | 2023-03-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

David Solomon at Goldman Sachs' 2023 investor day. All eyes were on Goldman Sachs yesterday as the bank held its second-ever investor day. The biggest news of the day was Solomon, along with other key executives, acknowledging the bank was exploring "strategic alternatives" for its consumer business. Hinting at "strategic alternatives" was something people would want to hear more about. And click here to read more about Goldman exploring "strategic alternatives" for its consumer biz.

Frederick, the President of Howard University, at a press conference February 29, 2016, in the university's Founder's Library. Frederick is the 17th president of Howard University, one of 107 historically Black colleges and universities in the U.S., serving some 11,000 students across its undergraduate, graduate, and professional student programs. Frederick is the distinguished Charles R. Drew Professor of Surgery at the Howard University College of Medicine. He is also a practicing cancer surgeon at Howard University Hospital, where he continues to see patients and perform surgeries. CNBC: The Department of Defense recently announced its selection of Howard University as the 15th university, and first HBCU, to lead a University Affiliated Research Center.

☆ Oaktree Capital seeks to raise $10 billion for new fund- FT
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Feb 28 (Reuters) - Oaktree Capital plans to raise $10 billion for a new fund that will help finance large private equity takeovers, the Financial Times reported on Tuesday, citing a letter sent to the U.S. asset manager's clients. The new fund, known as Oaktree Lending Partners, may tap into bank loans to ultimately invest $20 bln in sponsor-backed debt, the report said. The credit investment manager plans to raise and invest the $10 billion within the next two years, FT reported. Oaktree expects to offer loans of about $500 million or more to leveraged buyout groups, the newspaper said. The company and asset management firm Brookfield, which owns a majority stake in the investment firm, will invest $2 billion in the new fund, the report added.

LONDON, Feb 22 (Reuters) - Buyout financier Ares Management Corp (ARES.N) has been offering funds to support a takeover of Manchester United (MANU.N), three sources familiar with the matter told Reuters. It is the latest U.S. asset manager to seek a financing role in the battle for the English soccer club. It was unclear whether Ares has been looking to finance bids for Manchester United through that fund, which has already invested in Spain's Atletico de Madrid soccer club and Inter Miami CF, or another vehicle. Last Friday, Manchester United received indicative offers from bidders including chemicals firm INEOS, led by long-time fan Jim Ratcliffe, and Qatari Sheikh Jassim Bin Hamad Al Thani. INEOS wants to fund an offer without external financing, but could consider bringing in a minority equity partner, one source said.

☆ Big rainmakers on Wall Street
▼ + stars: | 2023-02-20 | by ( ) www.businessinsider.com time to read: +1 min

But while that means many Wall Street pros are technically off but in reality, glued to their Slack, WhatsApp, and work email, our team is actually not working today. So if you're looking for some great finance reads, look no further. ChatGPT could upend jobs across Wall Street. Wall Street's big rainmakers: In 2022, top investment banks still pushed blockbuster deals over the line during what was a tough year for M&A. We rounded up the 20 powerhouse bankers who orchestrated the biggest deals of 2022.

☆ HBCU students diversify alternative investing with the help of Wall Street’s biggest firms
▼ + stars: | 2023-02-17 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +1 min

The AltFinance Fellowship is the brainchild of top alternative investment firms Ares Management, Apollo Global Management and Oaktree Capital Management. Selected students will also receive a scholarship of up to $10,000 if they're sophomores, while juniors and seniors can receive up to $15,000. Partnering schools include Clark Atlanta University, Howard University, Morehouse College and Spelman College. The private equity, private credit and commercial real estate industry has about $10 trillion in assets under management, according to data provider Preqin. "This is not a charitable activity," Howard Marks, co-chairman of Oaktree Capital Management, told CNBC.

☆ Does anyone want to stay in investment banking these days?
▼ + stars: | 2023-02-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Banker salaries will get you in first class, but the potential total comp at PE firms and hedge funds will get you flying private. PE firms have been known to grind through people, but nothing quite compares to life at an investment bank. An investment bank's analyst program remains the go-to route to get your foot in the door on the Street. Click here to read more about salaries being offered by top PE firms to 2024 associates. All kidding aside, this deep dive by ProPublica is a fascinating look into how investment firms are helping the ultrarich save on taxes.

☆ 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.

Search resuls for: "Oaktree"

25 mentions found