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☆ Howard Lutnick helped build Newmark into a real estate powerhouse. Now he's leaving for Washington.
▼ + stars: | 2024-12-04 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

AdvertisementHoward Lutnick opened his wallet and Rolodex to turn Newmark into a commercial real estate success. In 2011, the billionaire arranged for his affiliate financial company, BGC Group, to purchase the New York-based commercial real estate services firm Newmark for an undisclosed sum. The results have turned heads in the ultra-competitive real estate business. "It's one of the best positioned real estate players today," Goldfarb added, noting that he has an "overweight" – or buy – rating on Newmark stock. In 2014, Newmark purchased Grubb & Ellis, a commercial real estate services firm, out of bankruptcy.

Persons: Howard Lutnick, Newmark, Lutnick, Trump's, Howard, Barry Gosin, Donald Trump, Cantor Fitzgerald, Elon Musk, Barry, Alexander Goldfarb, Piper Sandler, Goldfarb, Cantor, Gosin, Mark Weiss, Scott Panzer, JLL, Panzer, Grubb, Ellis, Piper, David Falk, Falk –, Falk Organizations: Business, New, Cushman & Wakefield, Newmark, Cushman &, Economic, Newmark's Locations: Washington, Wall, New York, America, Cushman & Wakefield, Davos, Switzerland, Newmark's New York

☆ 15 up-and-coming AI-powered fintech startups, according to top VCs
▼ + stars: | 2024-11-29 | by ( Bianca Chan | Michelle Abrego | ) www.businessinsider.com time to read: +1 min

AdvertisementBusiness Insider asked 27 venture-capital investors to nominate the most promising fintechs. Here are the top 15 AI fintechs, according to VCs. Earlier this year, Business Insider asked dozens of VCs to identify the most promising fintechs to watch. Indeed, it is difficult to point to one area of finance where AI startups aren't threatening to change the way people bank, invest, save, and work. Here are 15 of the most promising AI fintechs to watch, according to top VCs.

Persons: fintechs Organizations: Wall, Business

☆ The fate of MSNBC could be in Trump’s hands
▼ + stars: | 2024-11-21 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

It’s true that analysts expect the Trump administration to generally be less hostile to mergers. Yet it’s also true that some Republicans – including some tapped to join the Trump administration – have been described as “Khanservatives” because they’ve called for tougher, not weaker, antitrust scrutiny. Earlier this year, Gaetz told NOTUS that the FCC chair’s work “inspired me” and he expressed hope she stays in power for a Trump administration. As Gaetz fights to survive a tough nomination process to be attorney general, Comcast dropped a bombshell in the media industry by spinning off MSNBC, CNBC, USA, Oxygen and other networks. “It’s hard not to look at the spinoff of CNBC and MSNBC as potentially a response to the new administration,” said Petro.

Persons: Donald Trump’s, Trump, Donald Trump, ” Craig Moffett, MoffettNathanson, Brendan Carr, Trump’s, Kamala Harris, Carr, Skydance’s, ”, Moffett, Jeffrey Sonnenfeld, Sonnenfeld, Gaetz, Vance, Lina Khan, it’s, they’ve, JD Vance, Khan, Biden, Matt Gaetz, NOTUS, “, Brian Roberts, Will Trump, Frank Louthan, Raymond James, It’s, Louthan, Lee Petro, Dickinson, it’s “, Petro Organizations: New, New York CNN, Department, T’s, CNN, Timer Warner, Trump, Comcast, MSNBC, CNBC, NBC, DOJ, Federal Communications Commission, FCC, Paramount, Fox News, CBS, Yale, Leadership, Time Warner, Biden, Federal Trade, ”, Washington DC Locations: New York, Florida, USA

☆ Corporate borrowing is on a roll. Goldman's debt financing head breaks down the trends.
▼ + stars: | 2024-11-19 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +7 min

The return of DCM activity signals that borrowers are gearing up for corporate dealmaking to return. Goldman's global head of financing broke down the trends in an interview with BI. On Wall Street, corporate borrowing is on a roll. Many of those clients are large companies or organizations being advised by Goldman's investment bankers, which means the DCM business is directly reliant on deal flow. AdvertisementGoldman CEO David Solomon ran Goldman's leveraged finance group before taking over its financing business, including debt and equity capital markets and derivatives.

Persons: Goldman Sachs, Donald Trump, Vivek Bantwal, Bantwal, We've, we've, Goldman, David Solomon, David Solomon Jeenah Moon, Denis Coleman, refinancings, weren't Organizations: University of Pennsylvania's Wharton School, Getty, Underwriters, Wall, Bloomberg, Getty Images Goldman, Goldman, Blue

☆ Cathie Wood's Ark pitches mom-and-pop investors on exposure to Elon Musk's startups
▼ + stars: | 2024-11-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

AdvertisementIn an email to subscribers, Ark Invest highlighted its exposure to Elon Musk's private companies. Its venture fund includes stakes in SpaceX, X, and xAI, totaling nearly 15% of net assets. Ark Invest hyped Musk's influence with Donald Trump, saying his companies could also benefit. SpaceX was Ark Venture Fund's largest holding, with about 13% of assets, worth an estimated $8.7 million. In a recent interview, Winton illuminated the factors that drove Ark's investments in Musk's companies.

Persons: Elon, Donald Trump, Elon Musk, Brett Winton, Elon Musk's, Ark, xAI, Trump, Musk, He's, Winton Organizations: Ark Invest, SpaceX, Ark, Elon, Invest, ARK Venture Fund, Ark Venture, Trump megadonor, Trump's, Winton Locations: Elon, United States

☆ Matthew McConaughey turned down $15 million role to be happy: 'The residuals decline on quality of life'
▼ + stars: | 2024-11-12 | by ( Nicolas Vega | ) www.cnbc.com time to read: +3 min

Matthew McConaughey knows that success can lead to making a lot of money, but the actor says that the two are not the same. But McConaughey said he's looking to make a "profit" in his life rather than in his bank account. They couldn't necessarily say what they were good at, just good dealmakers who made the right calls." McConaughey reportedly turned down a $15 million offer to star in a "Magnum, P.I." Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Matthew McConaughey, McConaughey, who've Organizations: Guardian, Dallas Buyer's, CNBC

Elon Musk spent $44 billion to buy Twitter, now known as X, and at least $130 million to help get Donald Trump elected president. Since Trump’s victory last week, Musk is about $70 billion richer on paper. For Musk, getting Trump back into the White House became another full-time job. After the election last week, Musk briefly joined Trump’s phone call with Ukrainian President Volodymyr Zelenskyy, NBC News reported. Musk owns 411.06 million Tesla shares, as of the latest filings, and about 304 million performance-based options.

Persons: Elon Musk, Donald Trump, It’s, That’s, Larry Ellison, Ellison, Musk’s, who’s, Trump, Musk, Kamala Harris, Volodymyr Zelenskyy, he’s, Brendan Carr, Florida Republican Sen, Rick Scott, ” Musk, “ He’s, ”, Gene Munster, Tesla, Munster, ” Munster, Judge Kathaleen McCormick, McCormick, Ellison aren’t, Brian Armstrong, Cryptocurrencies Organizations: Twitter, Tesla, Forbes, Oracle, White, America PAC, Trump, NBC News, The New York Times, ABC, Trump’s, Federal Communications Commission, Florida Republican, SpaceX, Co, CNBC, Elon, Shareholders Locations: Pennsylvania, Lago, Florida, Delaware

Trump defeated Democratic candidate Vice President Kamala Harris, and Republicans claimed a majority of the Senate in elections this week. "We know kind of where the world is headed in a Trump environment because we've seen it before," said Jeffrey Solomon, president of TD Cowen, on CNBC's "Money Movers" Wednesday. One M&A advisor, who also spoke to CNBC anonymously, noted that Trump's disdain for Big Tech companies — historically active deal-makers — might keep them on the sidelines. Apparent GOP opposition to the CHIPS Act means that semiconductor consolidation might be challenging, the advisor noted, while cautioning it is still too early to know what a Trump presidency would mean. That advisor noted that smaller banks had been getting gobbled up for "some time," but that the pace and size of those acquisitions would likely ramp up under a Trump presidency.

Persons: Donald Trum, Ronda Churchill, Donald Trump, Kamala Harris, Jeffrey Solomon, TD Cowen, Solomon, Trump, Lina Khan, Khan, Howard Gutman, Jonathan Miller, —, Jared Holz, Mizuho, Sen, Elizabeth Warren, David Zaslav, David Grogan Organizations: Republican, Nevada GOP, Afp, Getty, Trump, Democratic, Republicans, Biden administration's Department of Justice, Federal Trade Commission, CNBC, Dow Jones, MorganFranklin Consulting, Big Tech, Qualcomm, Intel, Integrated Media, Pharmaceutical, Biotech, Illumina, FTC, Maze Therapeutics, Sanofi, Senate, DOJ, Allen & Company Sun Valley Conference Locations: Florida, Nevada, Las Vegas , Nevada, Ronda, Trump, Sun Valley , Idaho

☆ Wealthy sports fans can now put money into investments tied to their favorite leagues
▼ + stars: | 2024-10-31 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

High-net-worth sports fans can now invest in an index of companies tied to their favorite league. AdvertisementSports fans with money to spare can now reap returns from their favorite leagues thanks to a new investment offering from Morgan Stanley. The Parametric Custom Core Sports League strategy is a portfolio that allows high-net-worth fans to invest a minimum of $250,000 in an index of companies tied to major sports leagues. The offering involves 13 of the biggest sports leagues, from the NFL and NBA to the US Open and Formula 1. Last year, Goldman Sachs unveiled a new unit of dealmakers to pitch investments in teams and stadiums to wealthy clients.

Persons: Morgan Stanley, —, Sandra Richards, Morgan Stanley's, Richards, Marc Lasry, Steve Cohen, Goldman Sachs Organizations: Wall, Service, League, NFL, NBA, US, Women's, Morgan Stanley's Global Sports, Entertainment Division, CNBC, Nielsen Sports, Sports, PGA, Yankees, Citi, JPMorgan

☆ Saudi Arabia is pulling back on a global spending spree to focus on its own projects
▼ + stars: | 2024-10-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Now the Kingdom plans to cut its foreign investment to prioritize domestic spending. AI is the new focus of investment as Saudi Arabia looks to position itself as a global technology hub. AdvertisementSaudi Arabia is pulling back on its global spending spree to focus on domestic investments. In September, Saudi Arabia held the third Global AI Summit, attracting a host of high-profile leaders and dealmakers. The new focus on domestic investment comes as Saudi Arabia's spending on Neom, its futuristic megacity in the desert, hit $1 trillion.

Persons: —, Yasir Al Rumayyan, we've, Al Rumayyan, Yasir Al, Rumayyan, Hamad I Mohammed, Uber, Andreessen Horowitz Organizations: Service, Public Investment Fund, Future Investment, Economic, REUTERS, Investors, Saudi Press Agency, Financial Times, Saudi, AI, Bloomberg, Sindalah Locations: Saudi, Saudi Arabia, Riyadh, Davos, Switzerland, Neom

☆ Why Boeing's $21 billion share sale is an early Christmas present for Wall Street
▼ + stars: | 2024-10-29 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

AdvertisementWall Street bankers tasked with helping companies raise money through sales of stock just got an early Christmas present. The sale ended up raising nearly $21 billion, marking one of the largest deals for US equity-capital-markets bankers in history. Thanks to the Boeing capital raise, he now predicts ECM bonus increases of 30%, he said. 'A rising tide lifts all boats,' comp expert saysThe ultimate size of Boeing's capital raise puts it in league with some of the largest raises ever, according to global equity capital raise data provided by LSEG. But, based on Johnson's forecast, it seems those involved in the Boeing capital raise may find themselves flying highest on bonus day.

Persons: Goldman Sachs, —, bookrunners Goldman Sachs, Morgan Stanley, Alan Johnson, Johnson, Semafor, Thoma Bravo, It's, they've Organizations: Boeing, PJT Partners, RBC Capital Markets, Service, Monday, Bank of America, Citigroup, JPMorgan, Wall, Johnson Associates, LSEG, Petrobras, Lloyds, Nasdaq Locations: Brazilian, British

☆ Mark Cuban: The best negotiators do 2 things that make them successful
▼ + stars: | 2024-10-26 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

The best negotiators Mark Cuban has worked with — or against — have something in common: They're willing to compromise. "One: They're patient because they know what they're trying to accomplish," Cuban, 66, tells CNBC Make It. Cuban tries to showcase those qualities as an investor judge on ABC's "Shark Tank," where he often practices patient silence — sitting quietly while his fellow panelists offer up their thoughts and questions. DON'T MISS: The ultimate guide to negotiating a higher salary″There will be times when someone walks in on 'Shark Tank' and I'm thinking to myself: 'There's no way I'm interested.' Or, if I am, I don't have quite all the data that I need to make a decision,'" Cuban said.

Persons: Mark Cuban, —, Chris Voss Organizations: CNBC

☆ Inside Wall Street's efforts to value OpenAI: Who's involved, how it could work, and what's at stake for the banks
▼ + stars: | 2024-10-25 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Here's how the process could work and what Wall Street bankers stand to gain. AdvertisementAs third-quarter earnings demonstrated, Wall Street dealmaking appears to be bouncing back after three years of lackluster activity. Spokespersons for both Goldman Sachs and Morgan Stanley declined to comment or confirm their reported participation in the project. The two investment bankers – neither of whom are affiliated with Goldman, Morgan Stanley, OpenAI, or Microsoft — requested anonymity to preserve industry relationships. Largely speaking, however, Wall Street is poised to win, Roberts said.

Persons: Goldman Sachs, Morgan Stanley, —, OpenAI, –, Morgan Stanley's, PwC, Michael Roberts, Morgan, Roberts, Wharton, dealmaker, Sam Altman, Altman, Elon Musk, Reed Alexander Organizations: Service, Wall Street Journal, Microsoft, The, BI, Wharton School, University of Pennsylvania, Goldman, Wall Street, Wharton, dealmakers, Apple, Tesla Locations: San Francisco, Silicon Valley

☆ JPMorgan is boosting its junior-banker ranks
▼ + stars: | 2024-10-25 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

JPMorgan is ramping up its hiring of investment-banking analysts and associates, BI has learned. The fourth quarter is usually a slow period of hiring for investment banks. JPMorgan Chase is in the midst of an off-cycle hiring spree for junior investment bankers, according to people familiar with the bank's recruitment efforts and its online jobs board. AdvertisementAs Business Insider previously reported, JPMorgan recently said it would cap junior bankers' weekly work hours to 80 per week, with key exceptions. It also created a new HR role specifically to oversee the "well-being" of junior bankers.

Persons: —, JPMorgan Chase, headhunter, Wall, Banks, there's, Jamie Dimon, wasn't Organizations: JPMorgan, Service, IPOs, Bank of America, WSJ

☆ Meet the people driving billions of dollars in deals for Formula 1
▼ + stars: | 2024-10-20 | by ( ) www.cnbc.com time to read: +1 min

In the high-octane world of Formula One, success is driven by more than just talented drivers and engineers. F1's dealmakers have brokered billions of dollars in revenue off the circuit, generating cash from several places, including media rights, ticket sales, merchandising and sponsorship. Our main source of success is because we are able to connect with our fans, understanding that we are a worldwide business," said Stefano Domenicali, Formula One Group CEO, in an interview with CNBC's Inside Track: The Business of Formula 1. In fact, it was a major deal — Liberty Media's acquisition of F1 in 2017 — that propelled the sport forward. That's where we need to be strong, and that's maybe the reason why we are so successful," he added.

Persons: Stefano Domenicali, Domenicali, Zak Brown, James Vowles, Fréd Vasseur Organizations: Formula One, Liberty, McLaren, Williams Racing, Ferrari HP Locations: United States

☆ An incoming 'M&A supercycle' wouldn't just be a win for dealmakers
▼ + stars: | 2024-10-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, Goldman Sachs' earnings result might be a sign of the long-awaited return of M&A . The big storyM&A for allWin McNamee/Getty ImagesDon't look now, but M&A might finally be coming back. Goldman Sachs, Wall Street's perennial M&A king, smashed analysts' third-quarter expectations , notching $3 billion in profits. One analyst took things a step further, floating the idea of an "M&A supercycle" once the money that's been sitting on the sidelines finally gets put to work.

Persons: —, Goldman Sachs, Win McNamee, Insider's Reed Alexander, David Solomon, that's, Jenny Chang, Rodriguez, Mariana Bazo, Tyler Le, TSMC, Biden, Donald Trump, Elon Musk, TK, Alex Brandon Elon Musk, Kamala Harris, Alain Tascan, Jeet Shroff, Shroff, Morgan Stanley, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, LaGuardia Airport, Getty, BI, Monetary Fund, Chartered, Apple, Bloomberg, Google, Trump, PAC, America PAC, AP, Trump PAC, Epic, Discover Financial Services Locations: Midtown Manhattan, China, lockstep, New York, London

Business Insider asked 27 venture-capital investors to nominate the most promising fintechs. VCs highlighted startups that haven't raised beyond a Series C.Here are the 49 most promising fintechs. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Business Insider asked 27 top investors — including Index Ventures, QED Investors, and Bain Capital Ventures — to name some of those diamonds in the rough. Check out the 49 startups identified as most promising by 27 top investors.

Persons: —, fintechs Organizations: Service, Business, Index Ventures, Bain Capital Ventures

☆ What screams 'status' on Wall Street? Here's how the movers and shakers of finance are spending their money.
▼ + stars: | 2024-10-02 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +14 min

That said, everyone seemed to agree that the days of logo-forward purchases and other conspicuous signs of wealth are over — even on Wall Street. The industry's movers and shakers are still into name brands but are leaning into those that exude "quiet luxury." And where there are celebrities and influencers, there tend to be Wall Street dealmakers. It's not surprising that high-earners on Wall Street would have second homes (or, in many cases, multiple). The HamptonsThe beach towns of the Hamptons have long been a Wall Street favorite thanks to their proximity to Manhattan.

Persons: —, Ken Griffin, David Solomon, Goldman Sachs, Stephen Schwartzman, Blackstone, Jessica Cadmus, Cadmus, Marie Kondo —, I've, I'd, Zegna, Tom Ford, Claudio Lavenia, Van, Cartier, Jeremy Moeller, Hermes, Gucci, Jeremy Strong, Armani, Max Mara, Celine, Bottega, It's, it's, Sean Zanni, Wall Streeters Organizations: Service, Goldman, JPMorgan, Business, Paris Olympics, Bloomberg, Citadel, Anadolu, Getty, Wall Street, Street, BI, Wall, HBO, Hamptons Locations: Queens, New York, New York City, Africa, Costa Rica, Bottega Veneta, Manhattan, Montauk, Nantucket, Cape Cod, East Hampton , NY, Hudson

☆ China's $114 billion stimulus package immediately boosted its stock market. But can it last?
▼ + stars: | 2024-09-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementUS financial firms' interest in China was on its last legs, but a new stimulus package has some investors excited again. The immediate impact of China's $114 billion package, which includes cutting interest rates and reducing the amount of money banks need to keep in reserve, has been big. Traders, investors, and speculators have sent China's stock market to its best month in nearly a decade , signaling that the market players think that Beijing's moves are a "bazooka." Our annual list of Wall Street rising stars is here. According to a new report from The Wall Street Journal, executives attempted to woo the AI researcher back before rescinding the offer.

Persons: —, Andres Martinez Casares, Alyssa Powell, Linette Lopez isn't, Linette, Jon Hicks, that's, David Tepper, He's, Tepper, Pan Gongsheng, BI's Filip De Mott, Wall, Natalie Ammari, Crypto, Donald Trump, Kamala Harris, Marc Piasecki, Tyler Le, who's, OpenAI execs, Ilya Sutskever, it's, Tara Anand, aren't, Jerome Powell, Ryan Routh, El Chapo, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Traders, Bank of China, bros, Trump, Getty, Houston Chronicle, Hearst Newspapers, Elon, Wall Street Journal, Netflix, Longshoremen's Association, National Association for Business Locations: China, New York, London, Chicago

☆ Tech M&A has been thwarted by regulators, but dealmakers skeptical that election will change much
▼ + stars: | 2024-09-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +12 min

Amazon abandoned its $1.7 billion purchase of iRobot in January after the FTC and European regulators raised concerns. Since peaking at $1.5 trillion in 2021, tech transaction volume has plummeted, dropping to $544 billion last year, according to Dealogic. Before the company announced its $27 billion purchase of data analytics software company Splunk last September, he said he viewed the risk as absolutely worth taking. Alphabet's last big deal was its $5.4 billion purchase of cybersecurity company Mandiant in 2022. Microsoft closed its massive $75 billion purchase of Activision in October, but it took 20 months and a protracted fight with U.S. and European regulators.

Persons: Lina Khan, Jonathan Kanter, Khan, Joe Biden, Drew Angerer, Biden, Permira, Thoma, Sen, JD Vance, Donald Trump's, Barry Diller, Reid Hoffman, Kamala Harris, Andrew Luh, Gunderson Dettmer, Figma, Dana Rao, Rao, We've, they've, Juniper, Salesforce, Antonio Neri, Pau Barrena, Neri, Sergio Letelier, hasn't, Letelier, Marc Benioff, It's Benioff's, Slack, Benioff, Derek Idemoto, who's, Idemoto, that's, Splunk, HPE's Letelier, it's, Harris, Trump Organizations: U.S . Federal Trade Commission, Justice, Brookings Institution, U.S, Senate, Getty, Google, Amazon, Microsoft, Federal Trade Commission, iRobot, FTC, BlackRock, Thoma Bravo, KKR, Republican, CNBC, Democratic, Trump, Big Tech, Justice Department, DOJ, Apple, Meta, Adobe, European Commission, UK Competition, Markets Authority, Justice Department's Antitrust, Hewlett Packard Enterprise, Mobile World Congress, MWC, AFP, Juniper, Markets, DOJ's Antitrust, European Union, EU, Software, Cisco, Activision, Foreign Investment, Regulators, Bloomberg, Tech Locations: Washington, Europe, Barcelona, Pau, Salesforce, United States

☆ Bao Fan: a CEO went missing. Then his bank got a mysterious bill for $11 million
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A Chinese investment bank known for making some of the biggest deals in the country’s tech sector during its heyday has revealed it received a massive bill for 78 million yuan ($11 million) related to the disappearance of its star banker, Bao Fan. The request for payment from unspecified Chinese authorities only deepens the mystery surrounding the whereabouts of Bao, who founded boutique investment bank China Renaissance in Beijing in 2005 and made it one of the top dealmakers for Chinese tech firms. He helped broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. In February 2023, China Renaissance reported him missing amid a wider anti-corruption crackdown. CNN has reached out to the investment bank for additional information.

Persons: Bao Fan, Bao, Mr Bao, Zhonghui, Deloitte Touche Tohmatsu Organizations: Hong Kong CNN, Economic Observer, Central Commission, CNN, Financial Times, China Renaissance, Zhonghui Anda CPA, Deloitte Locations: China, Hong Kong, Beijing, Dianping, Bao, Zhonghui Anda

☆ Move over dealmakers: Portfolio-company operators are the rising stars of private equity
▼ + stars: | 2024-08-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.

Persons: —, you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking

☆ First came the accusations of rape. Now 3 owners of the Alexander brothers' beleaguered brokerage firm are jumping ship.
▼ + stars: | 2024-08-12 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

At the center were cofounders Tal and Oren Alexander, sibling dealmakers who were known for selling some of the country's most exclusive and expensive homes. But accusations of rape against the brothers in recent months have resulted in an existential crisis for the company. An attorney for Tal Alexander has sought to dismiss the case against him. In the immediate aftermath of the accusations, the brothers announced they would take a leave from Official. Official has used the brokerage services company Side to provide it with back office support and to hold its brokers' licenses.

Persons: —, cofounders Tal, Oren Alexander, dealmakers, Nicole Oge, Richard Jordan, Andrew Wachtfogel, Alexander, Tal, Oren, Oge, Richard, Andrew, Alon Alexander, Alon, Tal Alexander, James Cinque, Nicole, Tyrone McKillen Organizations: Service, Partners, Business, The New York Times, Gabbana Locations: Oge, The, The Raleigh, Miami Beach, Los Angeles

☆ More public healthcare companies will be taken private. Here's what PE firms are betting on.
▼ + stars: | 2024-08-12 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Read previewRevenue cycle management company R1 RCM just announced its acquisition by two private equity firms for a whopping $8.9 billion — signaling a long-awaited resurgence of big healthcare deals. Private equity's return to the sceneThe debt market is finally correcting for the types of deals healthcare companies have been waiting for. Revenue cycle management has long been a hot area for private equity firms. AdvertisementSpringer said she thinks private equity firms are "very unlikely to buy a care delivery company in this environment." Sen. Markey introduced the Health Over Wealth Act in July that would limit private equity investment in healthcare providers.

Persons: —, Augmedix, Altaris, hasn't, dealmakers, David Marks, They're, Thad Davis, haven't, Davis, Tanay Tandon, Commure, Athelas, it's, Rebecca Springer, we'll, Shiv Rao, Abridge Springer, she'd, Springer, Steward, Sen, Markey, Brian Snyder, Knight's Marks, I've, Marks Organizations: Service, Business, Holland &, Leerink Partners, Epic, Mayo Clinic, Reuters, Holland, FTC

☆ Harris antitrust policy would prioritize business growth and competition, says Maryland Gov. Wes Moore
▼ + stars: | 2024-08-07 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Vice President Kamala Harris would prioritize small business growth and large industry competition in shaping her own antitrust and regulatory policy if she wins the presidency in November, Maryland's Democratic Gov. A pro-growth, pro-competition approach to business in a potential Harris administration would mark a striking divergence from the aggressive trust-busting and merger-skeptical principles that have shaped the Biden administration's regulatory agenda. "As the vice president is thinking about a future-facing administration, there are going to be different dynamics that are going to require different philosophies," said Moore. "There will be different sociopolitical and just political dynamics that is going to require a different set, a different lens and a different vision." But his comments could feed the hopes of Wall Street dealmakers who are already optimistic that a potential Harris administration — while firmly rooted in progressive economic traditions — might deprioritize the aggressive antitrust regime that has been a trademark of Biden's presidency.

Persons: Kamala Harris, Wes Moore, Harris, Moore, — Organizations: Maryland's Democratic Gov, Biden, Democratic Party, Citigroup, Deutsche Bank, Robin Hood Foundation, Wall Locations: Baltimore, New York

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