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Competition for buy-side jobs, including at private equity firms and hedge funds, can be fierce. Insider identified the 13 recruiting firms aspiring dealmakers and traders should know for a buy-side job. The buy-side hiring spree is expected to continue despite a slowdown in mergers and acquisitions — a cornerstone of private equity investing. BellCast Partners works with mega funds, middle market funds, infrastructure funds, impact funds, real estate private equity funds, sector-focused funds, sovereign wealth funds, family offices, and credit funds. Today it does searches in private equity, growth equity, distressed, credit, venture capital, hedge funds, family offices, and select investment banks.

Persons: headhunting, Brain O'Callaghan, John Arbolino, Arbolino, Amity, Pamela Esterson, Susanna Nichols, Nichols, Esterson, Danielle Caston Strazzini, Alison Bellino Johnson, BellCast, Caston Strazzini, Jill Pierce, Spencer Stuart, Pierce, —, Brian O'Callaghan, it's, Renee Hylton, Keith Mann, Josh Grauer, Grauer, Mann, Adam Zoia, Annette Krassner, Katie Cunningham, Sarah Armstrong, Cunningham, Armstrong, Anna Brady, Janelle Matthews, Beth Grossman, Brady, they've, Morgan Stanley Eleni Henkel, Henkel, Leah Trabich, HSP, Carlyle, Warburg Pincus, Adam Kahn, Kahn, Anthony Keizner, Keizner, Nina Swift, Marty Brady, Vedica Qalbani, Qalbani, Lindsey Mead, Jessica Wu, Michael Garmisa, SearchOne, Sheri Gellman, Gellman Organizations: Citadel, nab, Boothroyd, Co, Wall, Amity Search Partners, Palm Beach Staff, SG Partners, Bain Capital, Centerbridge Partners, Trian Partners, BellCast, Charlotte Staff, CPI, BellCast Partners, Investor Relations, Nashville, San Francisco, Wharton, Harvard, Stanford, New York Staff, Partners, San Francisco Staff, Los Angeles Staff, TPG, Thoma Bravo, Bessemer Venture Partners, EQT, Elliott, Equity, KKR, ICONIQ, Spectrum Equity, Henkel Search, Search Partners, New York, Oxbridge, Nashville Staff, Time Warner, Indiana University, SG Locations: New York, San Francisco, Austin, San Diego, Chicago, Los Angeles , New York, Phoenix, West Coast, Los Angeles, NYC, California, United States, Boston, Dallas, Atlanta, Columbia, Latin America, Asia, Europe, San Francisco , New York, Bay, Gold, Los Angeles , Greenwich, Nashville, Amity, South Florida

☆ Factbox: Subway to sell itself to Roark Capital
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Roark Capital snapped up Subway in a $9.55 billion deal, sources said on Thursday, after it outbid several private-equity groups. The pair then started franchising Subway restaurants, with the first outlet outside of Connecticut being opened in Massachusetts a year later. For 2022, Subway posted a 9.2% year-over-year increase in same-store sales, thanks to its "Subway Series" menu - a lineup of 12 new signature sandwiches. In March, Goldman Sachs' (GS.N) asset management arm, PE firms Bain Capital, TPG, TDR Capital, Advent International and Roark Capital emerged among the list of suitors for the sandwich chain. Reuters reported earlier this week, citing sources that Roark Capital was in the lead to acquire the chain for well over $9 billion after attaching conditions to some of the windfall the two families that own it would get.

Persons: Thomas White, Roark Capital, Fred DeLuca, Peter Buck, DeLuca, Buck, Arby's, Quiznos, Burger, Jared Fogle, Chidsey, John Chidsey, Morgan, Goldman Sachs, Roark, Deborah Sophia, Granth Vanaik, Varun, Anil D'Silva Organizations: REUTERS, Subway, KFC, Bain Capital, TPG, TDR, Advent International, Roark Capital, Reuters, Thomson Locations: Bridgeport , Connecticut, Connecticut, Massachusetts, Bahrain, Subway, United States, Burger, U.S, North America, Bengaluru

☆ SoftwareOne says strategic review remains ongoing, reports H1 results
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Aug 24 (Reuters) - SoftwareOne (SWON.S) reiterated its full-year guidance on Thursday and said a strategic review to maximise shareholder value remains ongoing, as it reported a 1.7% drop in adjusted earnings before interest, depreciation and amortisation (EBITDA) for the first half of 2023. The Swiss software provider, which went public in 2019 and has been recently eyed by Bain Capital for takeover, reported half-year adjusted EBITDA of 111.7 million Swiss francs ($127.41 million). ($1 = 0.8767 Swiss francs)Reporting by Brenna Hughes Neghaiwi, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Brenna Hughes, Friederike Heine Our Organizations: Bain Capital, Thomson Locations: ZURICH, Swiss

☆ The US needs a stable Chinese economy. Will Biden’s commerce secretary offer help?
▼ + stars: | 2023-08-24 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —US Commerce Secretary Gina Raimondo will travel to China next week, a visit that coincides with a worsening slowdown in the world’s second largest economy. Gina Raimondo, US commerce secretary, speaks during the SelectUSA Investment Summit in National Harbor, Maryland, US, on Tuesday, May 2, 2023. The Commerce Department announced on Monday that it was removing 27 Chinese companies from US export controls. China’s Ministry of Commerce welcomed the decision, saying it was conducive to trade and reflected the interests of both sides. That was followed earlier this month by President Biden signing an executive order that limits US investment in certain tech sectors of the Chinese economy, including AI and quantum computing.

Persons: Gina Raimondo, Raimondo, ”, Craig Singleton, Ting Shen, Trump, Biden, “, Washington, Donald Trump, It’s, Xi, Singleton, — Kylie Atwood, Jeremy Diamond Organizations: Hong Kong CNN — US, Washington, Foundation for Defense of Democracies, Commerce Department, Beijing, SelectUSA Investment, Bloomberg, Getty, China’s Ministry of Commerce, ” Eurasia Group, Apple, Nike, Intel, Microsoft, General Motors, US Treasury Department, Mintz Group, Bain & Company, Communist Locations: Hong Kong, China, Beijing, Washington, Shanghai, National Harbor , Maryland, United States, Europe, Japan, New York, court

☆ How Merve Emre became the hottest — and most reviled — name in literary criticism
▼ + stars: | 2023-08-24 | by ( Anna Silman | ) www.businessinsider.com time to read: +40 min

Last winter, the 37-year-old literary critic and Wesleyan professor Merve Emre stood in front of a microphone in Rachel Comey's Soho boutique. While the others had largely opted to pull boldfaced names from the Review's archives — like a 1985 Gore Vidal piece about Tennessee Williams — Merve Emre would be reading Merve Emre. Emre has penned so many introductions for new anthologies and reissues that one fan joked on Twitter: "every new baby in 2024 comes with an introduction by merve emre." Courtesy of Merve Emre. Over her cocktail, Merve Emre told me what my profile on Merve Emre should be about.

Persons: Merve Emre, Rachel Comey's, Emily Greenhouse, Gore Vidal, Tennessee Williams — Merve Emre, Emre, Diane Williams, who's, Everyone's, Elena Ferrante, Jonathan Franzen, Rachel Cusk, Susan Sontag, Michael Roth, Reading Emre, merve emre, John Guillory, Dorothy Parker, Christopher Hitchens, Jon Fosse, Stephanie LaCava, Batuman, Lawrence, Alison Roman, Frank Gehry, Jason Stanley, someone's, they're, Anna Shechtman, Anne, Maggie Doherty, doesn't, Emre Emre, Roald Dahl's, Matilda, Myers, Briggs, you've, I've, Bain, Chris Bierly, I'd, Amy Lombard, Ferrante, She's, Christian Nakarado, Leo Carey, Jason, Nakarado, hasn't, Emre's, Altan, Emre lasered, Ara Osterweil, McGill, Beyoncé, Osterweil, Al Jazeera, sensitively, Ivy pricks, she's, Michael Berube, He'd, he'd, James Joyce, Simone de Beauvoir, Merve, Sarah Chihaya, —, Mary Butts, Leonora Carrington, Susan Taubes, Taubes, Durga Chew, Christian Lorentzen, Orhan Pamuk, Lena Dunham, Chew, Bose, Yale's, it's, she'd, Taylor Swift, Elif Batuman, Swift, Janet Malcolm, Charlie Kaufman, Roth, we're, What's, Natalie Portman, Mila Kunis, It's, Elizabeth Morache, Rebecca Zisser, David Bergman Organizations: The New York, McGill, Times, New York Magazine, The, Yorker, Wesleyan University, Reading, Twitter, McGill ,, Wesleyan, Ivy League, Yale, Shapiro Center, Creative, NBA, Harvard, Bain & Company, Insider Yale, HBO, Congress, NPR, American Academy of Arts and Sciences, New York, Yahoo, Oxford, Oxford . McGill, University of Oxford, Penn State, Fordham University, Boston, Intelligence Squared, Yale Science, University, Whitney Museum, Netflix Locations: Rachel Comey's Soho, McGill , Oxford, Columbia, Norwegian, New Haven , Connecticut, New Haven, Adana, Turkey, New York, Cambridge, Montreal, United States, chiseling, Turkish

☆ How Merve Emre became the hottest — and most divisive — name in literary criticism
▼ + stars: | 2023-08-24 | by ( Anna Silman | ) www.businessinsider.com time to read: +40 min

☆ China fines Mintz $1.5 mln for 'unapproved' work, after raiding its Beijing office
▼ + stars: | 2023-08-22 | by ( Yew Lun Tian | ) www.reuters.com time to read: +2 min

The U.S. corporate due diligence firm Mintz Group's office is seen in Hong Kong, China, May 18, 2023. REUTERS/James Pomfret/File Photo Acquire Licensing RightsBEIJING, Aug 22 (Reuters) - China fined U.S. firm Mintz Group about $1.5 million for doing "unapproved statistical work", said a Beijing Municipal Bureau of Statistics notice, after a raid of its Beijing office sparked worries about China's openness to foreign investment. In a further notice on its website dated July 14, the bureau said Mintz conducted 37 such investigations from March 2019 to July 2022. The firm has previously said it is licensed to conduct legitimate business in China and that it has always operated lawfully. Chinese authorities raided Mintz's Beijing office in March and detained all five local staff, in what turned out to be the beginning of a sweeping crackdown on consultancy and due diligence firms, including Bain & Company's office in Shanghai and Capvision Partners.

Persons: Mintz, James Pomfret, Xi Jinping, Yew Lun Tian, Michael Perry Organizations: REUTERS, Rights, China, U.S, Mintz Group, Beijing Municipal Bureau, Beijing's, Statistics, Wall Street Journal, Bain, Capvision Partners, Thomson Locations: Hong Kong, China, Rights BEIJING, Beijing, Shanghai

☆ China fines Mintz Group $1.5 million for 'unapproved' investigations
▼ + stars: | 2023-08-22 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has fined Mintz Group, an American corporate due diligence firm, about $1.5 million for allegedly conducting unapproved statistical work in the country, as it continues with a nationwide crackdown on consulting firms in the name of national security. The fine came to light months after authorities closed the firm’s Beijing office in March and detained five of its local employees. Mintz’s Beijing office had carried out “foreign-related statistical investigations” without seeking and obtaining approvals, which violated two Chinese regulations, the Beijing Municipal Bureau of Statistics said in a statement on its website dated July 14. The authorities imposed a fine totaling 10.69 million yuan ($1.49 million) on the company and ordered it to stop conducting such investigations in the country. Days after the raid occurred, a spokesperson for the Chinese foreign ministry said Mintz was suspected of “illegal business operations.”Since then, Chinese regulators launched a broader crackdown on consulting firms.

Persons: Mintz, Mintz didn’t, Capvision Organizations: Hong Kong CNN, China, Mintz Group, Beijing Municipal Bureau, Statistics, CNN, Wall Street, Bain & Company Locations: Hong Kong, American, Beijing, Shanghai, New York, United States, Washington, chipmaking, China

Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company’s skyrocketing sales. Mehta is the 33-year-old CEO of Ather Energy, an electric scooter manufacturer that has enjoyed a recent explosion of demand. “That’s an incredible jump.”The push has been fueled by strong state support, particularly through a policy known as “FAME,” or the Faster Adoption and Manufacturing of Electric Vehicles. Electric two-wheelers on display at the Hero Electric Vehicles headquarters in Gurgaon, India, in 2021. BluSmart is an Indian ride-hailing startup that uses an all-electric fleet, relying heavily on charging infrastructure.

Persons: Tarun Mehta, Mehta, ” Mehta, pedaling, MotoCorp, ”, Brajesh Chhibber, “, Bain, That’s, Anindito Mukherjee, Anmol Singh Jaggi, Fadnavis, Chhibber, ” Chhibber, Jaggi Organizations: India CNN —, Ather Energy, “, CNN, McKinsey, Manufacturing of Electric Vehicles, EV, Economic, Ministry of Heavy Industries, Hero Electric Vehicles, Bloomberg, Getty, ” Locations: Hosur, India, Indian, Bangalore, New Delhi, Delhi, Gurgaon, Gurugram

The IPO could come later this year or early next year, subject to market conditions, the sources added, requesting anonymity because the matter is confidential. The valuation attained will also be subject to market conditions, the sources added. EQT, CPPIB and Goldman Sachs declined to comment. The company develops payment software helping clients such as large hospital systems with the collection of bills from patients. The company now works with 1 million healthcare providers and handles more than 2.5 billion transactions annually, according to its website.

Persons: Goldman Sachs, Waystar, CPPIB, Echo Wang, David Carnevali, Stephen Coates Organizations: EQT, Plan Investment, Goldman Sachs Group Inc, JPMorgan Chase &, JPMorgan, Bain Capital, Fitch, Medicare, Medicaid Services, Thomson Locations: Canada, Navicure, New York

☆ Private equity bites off mostly what it can chew
▼ + stars: | 2023-08-17 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

Private equity firms notched nearly $300 billion of acquisitions worldwide through Aug. 15, according to Dealogic data. Deals in the $1 billion to $5 billion range are running closest to the same pace as 2022. STG, for example, secured a loan to value of more than 40% from private lenders. With capital tighter, it’s easy to understand why buyout firms are pursuing humbler deals more likely to exceed the minimum returns investors expect. GTCR’s plan to buy 55% of Worldpay at a $17.5 billion valuation requires an equity check equivalent to 15% of the buyout firm’s assets.

Persons: Simon & Schuster, STG, Clayton, Rice, Banks, Ares Capital’s, hasn’t, Jeffrey Goldfarb, Sharon Lam Organizations: KKR, New York Stock Exchange, Reuters, Avid Technology, GTCR, TPG, Francisco Partners, Bain Consulting, Thomson, & $ Locations: New York, U.S, can’t, Dubilier

☆ Sea sails recklessly into choppy e-commerce waters
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Singapore-based Sea Limited Chairman and CEO Forrest Li, speaks during an interview with CNBC following his company's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 20, 2017. REUTERS/Brendan McDermid Acquire Licensing RightsHONG KONG, Aug 16 (Reuters Breakingviews) - Sea's (SE.N) boss Forrest Li has picked a turbulent time to rock the boat. But Li's declaration on Tuesday that it's time to "ramp up" investments again risks wiping out the hard-earned investor goodwill. Despite Li's assurances that Sea will keep emphasising self-sufficiency and cost efficiencies, investors promptly erased some $10 billion, or 29%, in market value. In July, the latter injected $845 million into its Southeast Asian arm, signalling a price war may be on the horizon.

Persons: Forrest Li, Brendan McDermid, HONG KONG, Li, China's Alibaba, Robyn Mak, Exor’s Philips, Bain, BoE, Antony Currie, Thomas Shum Organizations: CNBC, New York Stock Exchange, REUTERS, Reuters, HK, Twitter, FC Barcelona’s, Messi, Thomson Locations: Singapore, New York, U.S, HONG, York

☆ TPG dangles messy end for EY’s loveless marriage
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

On Monday, the Financial Times reported that private equity firm TPG (TPG.O) had approached EY about buying a stake in its consulting arm. Back in May of last year when EY’s split was leaked to the press, valuations were much more attractive. If TPG pushes for a full breakup, EY would still have to work out how to divvy up its tax advice business between audit and consulting. Given the challenges, EY may well decide it’s better to soldier on with an awkward marriage than risk a messy divorce. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: EY’s, EY, Aimee Donnellan, Exor’s Philips, Bain, Neil Unmack, Oliver Taslic Organizations: Reuters, Financial Times, TPG, Big, Partners, Twitter, Thomson

☆ High services costs make UK rate-cutting laggard
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Aug 16 (Reuters Breakingviews) - UK inflation is slowing, according to many metrics. Unfortunately, those are not the ones the Bank of England values the most. Prices in that category grew 7.4% in July, faster than June’s 7.2%, due to more expensive restaurants, hotels and airfares. Policymakers keep a close eye on services’ prices and wage growth, which hit a record in the three months to June.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, Francesco Guerrera, Exor’s Philips, Bain, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Bank of, Office, National Statistics . Services, European Central Bank, U.S . Federal Reserve, Twitter, FC Barcelona’s, Messi, Thomson Locations: London, Britain, Bank of England, June’s

REUTERS/Paulo Whitaker/file photo Acquire Licensing RightsNEW YORK, Aug 15 (Reuters) - Private equity firm Bain Capital on Tuesday agreed to buy Fogo de Chão, in a deal people familiar with the matter said valued the Brazilian steakhouse chain at about $1.1 billion, including debt. The deal marks a win for private equity firm Rhone Capital, which took Fogo de Chão private for $560 million in 2018. The restaurant chain confidentially submitted paperwork for an initial public offering to regulators in late 2021, the sources said. Earlier in August, the Pollo Tropical restaurant chain was sold to Authentic Restaurant Brands for $225 million. Morgan Stanley & Co LLC is serving as financial adviser to Fogo de Chão and Rhône, while Sullivan & Cromwell served as legal counsel.

Persons: Paulo Whitaker, Rhône, Bain, Burger King, Dunkin, Ellis, Morgan Stanley, Sullivan, Cromwell, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: Fogo de Chao, REUTERS, Bain Capital, Rhone Capital, Dunkin ’ Brands Inc, Brands Inc, Benihana, Deutsche Bank, Kirkland, Thomson Locations: Fogo de, Fogo de Chao Brazilian, Sao Paulo, Brazil, Chão, Fogo, Rhone, Southern Brazil, dealmaking, Sandwich, New York

☆ Salesforce cage-rattlers leave in profitable peace
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing RightsNEW YORK, Aug 15 (Reuters Breakingviews) - For activist investors in Salesforce (CRM.N), the low-hanging fruit should suffice. Fast growth and big-ticket acquisitions that Salesforce boss Marc Benioff had pursued turned anathema last year. The stock price roughly halved, falling faster than the Nasdaq-100 Technology Sector Index (.NDXT). Benioff eventually acquiesced, slashing 10% of the workforce, disbanding the deals committee and unveiling a $20 billion stock buyback plan. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Porte, Jeff Smith’s, Dan Loeb’s, Marc Benioff, ValueAct, Benioff, Jonathan Guilford, Exor’s Philips, Bain, BoE, Jeffrey Goldfarb, Sharon Lam Organizations: Viva Technology, Porte de, Reuters, Big Tech, Nasdaq, Profit, Elliott Investment Management, Twitter, FC Barcelona’s, Messi, Thomson Locations: Paris, France, Salesforce, Salesforce’s

☆ Bain puts Chindata minority owners out of misery
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Aug 14 (Reuters Breakingviews) - Bain Capital has just taught a refresher course in the perils of being a minority investor. On Friday the buyout firm agreed to take Chindata private in a deal that values the Chinese data centre operator it already controls at $3.2 billion. But those who bought in when the U.S. private equity firm took Chindata public in 2020 or were hoping for a bidding war – or both – have good reason to be disappointed. Second, a unit of state-owned conglomerate China Merchants Group countered Bain with a $3.4 billion deal, which Chindata took a month to acknowledge. And it has let investors holding another fifth or so of Chindata stock into the buyout group.

Persons: Bain’s, Bain, Chindata, Antony Currie, BoE, Robyn Mak, Katrina Hamlin Organizations: MELBOURNE, Reuters, Bain Capital, China Merchants Group, China Merchants, Twitter, FC Barcelona’s, Messi, Siemens, Thomson Locations: New York

☆ Exor’s Philips bet looks well-timed
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

The Agnelli family’s investment company on Monday said it bought a 15% stake in the toothbrushes-to-defibrillators group for 2.6 billion euros ($2.8 billion). Philips’ shares are down some 62% since the peak in April 2021, and it now looks much cheaper than the sum of its parts. Based on peer multiples, its diagnostics business could be worth 14 times 2024 EBITDA, while its connected care unit, which helps hospitals manage patient data, might be valued at 18.5 times EBITDA. Lastly, throw in the consumer division, which makes toasters and TVs, and could fetch 12 times EBITDA. Using Refinitiv forecasts, that would imply a total enterprise value of 33 billion euros, and equity of some 24 billion euros, after taking off debt and 2.4 billion euros for legal costs estimated by Bernstein analysts.

Persons: John Elkann, Agnelli, Philips ’, EBITDA, Bernstein, Roy Jakobs, Philips, Karen Kwok, Bain, BoE, Neil Unmack, Streisand Neto Organizations: Reuters, Koninklijke Philips, U.S . Department of Justice, Philips, Twitter, FC Barcelona’s, Messi, Siemens, Thomson

☆ Chinese data center operator Chindata to go private in $3.16 bln deal
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Aug 11 (Reuters) - Chindata Group said on Friday it would go private in a sweetened $3.16 billion deal with investor Bain Capital, ending months of uncertainty over the future of the Chinese data center operator that also received interest from China Merchants Group. It also marks a premium of about 43% to the closing price of Chindata shares before the initial approach was made public. U.S.-listed shares of Chindata, which operates data centers in China, India and Southeast Asia, rose 3% after the bell. Data centers operators have enjoyed a surge in demand in recent years as more businesses take to the web. The go-private deal announced on Friday will be funded through a combination of cash and debt financing provided by Shanghai Pudong Development Bank, Chindata said.

Persons: Chindata, Manya Saini, Shinjini Organizations: Chindata, Bain Capital, China Merchants Group, Nasdaq, China Merchants Capital, Shanghai Pudong Development Bank, Thomson Locations: U.S, Chindata, China, India, Southeast Asia, Bengaluru

☆ Acquisition of Adani Capital opens access to India's 'underbanked' market, Bain says
▼ + stars: | 2023-08-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

U.S. private equity group Bain Capital said its recent agreement to buy Adani Capital was aimed at tapping the "underbanked" segment of India's economy. In July, the Boston-based firm agreed to acquire 90% of Adani Capital and Adani Housing, buying out all of Indian billionaire Gautam Adani's family's private stake in the company. The deal will provide a crucial lending perform to India's micro, small and medium enterprises — a market that is growing rapidly, said Barnaby Lyons, a partner and global co-head of Bain Capital Special Situations. "Just the structurally underbanked nature of the economy means that there is a ... need for innovative finance platforms like Adani Capital," he told CNBC's "Street Signs Asia" on Thursday. "This specific business sits in a segment — small lending to micro SMEs, the agricultural space and affordable housing, which actually benefits from some of the best demand supply dynamics."

Persons: Gautam Adani's, Barnaby Lyons, CNBC's, Lyons Organizations: Group, Bain Capital, Adani, Bain Locations: Mumbai, India, Boston

☆ Indian financial services are a 'major focus' for Bain Capital in Asia
▼ + stars: | 2023-08-10 | 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 EmailIndian financial services are a 'major focus' for Bain Capital in AsiaBarnaby Lyons, a partner and global co-head at Bain Capital Special Situations, discusses Bain Capital's plan to buy a 90% stake in India's Adani Capital and Adani Housing.

Persons: Asia Barnaby Lyons, Bain Organizations: Bain Capital, Adani Locations: Asia

☆ Florida's attorney general says DeSantis suspending an elected state attorney is 'democracy in action'
▼ + stars: | 2023-08-10 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Ron DeSantis suspended Democratic State Attorney Monique Worrell. It was the second time in just over a year DeSantis has suspended an elected, Democrat-identifying state attorney. Florida's Attorney General, Ashley Moody, called Worrell's suspension, "democracy in action." Ron DeSantis on Thursday after he suspended an elected state attorney, calling it "democracy in action." While appearing on "Fox & Friends First," Moody was asked if it was controversial that DeSantis singlehandedly removed an elected official from office.

Persons: Ron DeSantis, Monique Worrell, Ashley Moody, Andrew Bain, Moody, DeSantis, —, Worrell, Donald Trump, Generra Peck, James Uthmeier, didn't Organizations: Florida Gov, Democratic, Service, Republican, Orange, Orange County Court, Fox & Friends Locations: Florida, Wall, Silicon, Orange County

☆ Florida's DeSantis replaces elected Democratic prosecutor
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

Republican presidential candidate, Florida Governor Ron DeSantis, delivers remarks at the annual Christians United for Israel Summit (CUFI), at the Crystal Gateway Marriott in Arlington, Virginia, U.S., July 17, 2023. REUTERS/Kevin Wurm/File PhotoAug 9 (Reuters) - Florida Governor Ron DeSantis on Wednesday suspended a county prosecutor after accusing her of being soft on crime, making her the second elected Democratic law-enforcement official to be removed by the Republican presidential hopeful. "Worrell’s practices and policies have too often allowed violent criminals to escape the full consequences of their criminal conduct," DeSantis said in a statement. Worrell is not the first Florida prosecutor whom DeSantis has dismissed. DeSantis' office sent a letter in April to Worrell's office demanding that she hand over the criminal and judicial record of a suspect accused of killing three people, including a 9-year-old.

Persons: Ron DeSantis, Kevin Wurm, DeSantis, Monique Worrell, Andrew Bain, Worrell, Miriam Krinsky, Andrew Warren, Donald Trump, Brendan O'Brien, Andy Sullivan Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, REUTERS, Democratic, Republican, Thomson Locations: Arlington , Virginia, U.S, Florida, Orange, Osceola, Hillsborough County, Chicago

☆ Newly Hired Consultants Are Getting Paid $175K to Do Nothing
▼ + stars: | 2023-08-09 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

New hires at some top consulting firms don't have enough work, The Wall Street Journal reported. MBA grads recruited into top consulting firms often earn sizable six figure salaries. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Those hired into consulting firms out of business school generally take home hefty six figure salaries. The impasse that new hires face comes as consulting firms have laid off swaths of their workforces over the past year.

Persons: grads, —, they're, Bain, Lakshmi Organizations: Street Journal, Service, Bain, Boston Consulting Group, McKinsey, Wall Street, Yale, Dartmouth, University of Virginia, — Bain Locations: Wall, Silicon, United States, Lakshmi Varanasi, lvaranasi

☆ DeSantis suspends elected Florida state attorney Monique Worrell, accusing her of being soft on crime
▼ + stars: | 2023-08-09 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Florida Ninth Judicial District State Attorney Monique Worrell is suspended as of Wednesday morning via an executive order from Gov. Ron DeSantis on Wednesday suspended Monique Worrell, the state attorney for Florida's Ninth Judicial Circuit, accusing her of under-prosecuting criminals in her jurisdiction. Her actions constitute "both neglect of duty and incompetence," according to the executive order the governor signed. It's the second time as governor that DeSantis has taken executive action against an elected state attorney over accusations of being soft on crime. DeSantis last year suspended Hillsborough County State Attorney Andrew Warren after Warren said he would not enforce state restrictions on abortion or gender-related surgery.

Persons: Monique Worrell, Ron DeSantis, Cord Byrd, Worrell, DeSantis, Andrew Bain, Andrew Warren, Warren, Donald Trump Organizations: Judicial, Gov, Florida Gov, DeSantis, Democratic, Republican, Orlando, Federalist Society, Hillsborough Locations: Florida, Hillsborough County, Orange County

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