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☆ Carlyle hires ex-Goldman executive Harvey Schwartz as next CEO
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: 1 min

Feb 5 (Reuters) - Carlyle Group (CG.O) has hired Harvey Schwartz as its next chief executive officer, a person familiar with the matter told Reuters on Sunday. Reporting by Chibuike Oguh and Lavanya Ahire in Bengaluru; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Private Equity Taps Insurers’ Cash to Speed Up Growth
▼ + stars: | 2023-01-31 | by ( Matt Wirz | Leslie Scism | ) www.wsj.com time to read: 1 min

New York-based Apollo Global Management merged with an annuity insurer that now accounts for almost half of the $523 billion Apollo manages. Investment firms that play on the cutting edge of finance are turning to one of the oldest businesses on Wall Street to turbocharge their growth: insurance. Private-credit fund managers such as Blackstone Inc., Carlyle Group Inc. and Centerbridge Partners are increasingly forming partnerships with insurers, or buying them outright. Call it the merger of slow money and fast money.

☆ Private equity giants are still racing to fill 2024 associate seats. See 8 firms — from Carlyle to Bain Capital — that have been recruiting first-year investment bankers for jobs that won't start for
▼ + stars: | 2023-01-30 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

Last year's on-cycle recruiting kicked off earlier than ever, and many junior bankers weren't ready. In an effort to win the war for talent that was raging last year, private equity firms pushed their recruiting efforts earlier than in ever— to late summer. To be sure, not all private equity firms kicked off on-cycle recruiting in August. It usually involves an intense week-long period (although sometimes shorter or longer) where private equity firms rush in to snag the top talent. The bottom line shows the month and year analysts started their roles, and the yellow line indicated when on-cycle recruiting began that season.

☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros - sources
▼ + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

The sources said the 20 clubs which comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags behind England's Premier League in terms of income and is looking at ways to revive its global appeal. Back in 2021 JPMorgan had offered to support soccer clubs looking to launch a breakaway European Super League, a plan which collapsed due to a storm of protest from fans and politicians. The sources said the Serie A clubs will assess in the coming weeks how to proceed in relation to the interest expressed by both the funds and JPMorgan.

☆ JFK airport's new terminal will be powered by a microgrid and the largest rooftop solar array in New York City
▼ + stars: | 2023-01-26 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +3 min

A new terminal at New York's JFK will be partly powered by a microgrid, batteries, and fuel cells. John F. Kennedy International Airport's $9.5 billion New Terminal One will be partly powered by a microgrid with 11.34 megawatts of electricity from rooftop solar, gas fuel cells, and battery storage. A system that captures waste heat from the fuel cells will chill and warm water. The rooftop solar array — made up of more than 13,000 panels — will be the largest in New York City and at any US airport terminal, AlphaStruxure said. Installing fuel cells, instead of diesel generators, is estimated to reduce emissions of nitrogen oxide, a toxic air pollutant, by 98%, Macias added.

☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros -sources
▼ + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com time to read: +4 min

The sources said the 20 clubs that comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags England's Premier League in terms of income and is looking at ways to revive its global appeal. The sources said Serie A clubs learnt on Thursday that Apollo Global Management (APO.N) had also come forward, without providing further details. Prior to that meeting, clubs are due to discuss in mid-February the sale process of the media rights, which is expected to start later this year.

☆ Final Trades: Qualcomm, Chevron, Carlyle Group & more
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Qualcomm, Chevron, Carlyle Group & moreThe "Halftime Report" traders give their top picks to watch for the second half.

☆ The private equity industry is racing to fill 2024 associate roles after last year's hyper competitive hiring tactics backfired
▼ + stars: | 2023-01-25 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

☆ Virginia Gov. Youngkin stokes 2024 campaign speculation after killing Ford battery plant over China links
▼ + stars: | 2023-01-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

But this week, Virginia Republican Gov. (Virginia doesn't allow governors to serve consecutive terms, so Youngkin can't seek re-election.) “There’s a logic to the politics of Youngkin’s decision,” said Liam Donovan, a Republican strategist and lobbyist. Gretchen Whitmer telling the Detroit News that Youngkin’s “political determination” created an “exciting opportunity” for her state. “Carlyle makes a lot of money out of China,” said Surovell, the Democratic state senator.

☆ India's Yes Bank has 'strong' grounds to appeal ATI bonds court order, CEO says
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Jan 21 (Reuters) - India's Yes Bank (YESB.NS) has "strong" legal grounds to appeal against a court order quashing the write-off of its additional Tier-1 (AT1) bonds, Chief Executive Officer Prashant Kumar said on Saturday. "The judgment in itself is not questioning the regulatory guidelines in terms of writing off (AT1 bonds). "We have strong legal advises and opinions which interpret the issue in a different way and that makes a strong ground for us to appeal in the Supreme Court." The bonds were written off as part of a restructuring plan to rescue Yes Bank in March 2020. Yes Bank said in a stock exchange filing late on Friday it is in the process of preparing an appeal to the Supreme Court.

☆ China tightens media control with tiny stakes in two Alibaba units
▼ + stars: | 2023-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Sopa Images | Lightrocket | Getty ImagesBEIJING — State-backed entities have taken tiny stakes in parts of two Alibaba subsidiaries that oversee a video platform and web browser. The state-backed stakes reflect a progression of government directives over the last decade to increase control of media in China. "So far most of the stakes announced (including in other Chinese companies) seem to be highly concentrated on media companies and media subsidiaries." watch nowSince 2020, business records show state-backed entities have taken 1% stakes in popular social media or short-video apps Weibo , ByteDance's Douyin and Kuaishou . A provincial state media group completed a 1% investment in September, leaving Alibaba's media arm with 99% ownership.

☆ RSA Security explores $2 bln-plus sale of Archer -sources
▼ + stars: | 2023-01-18 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

Clearlake Capital, another private equity firm, invested in RSA the following year. Last year, RSA sold a majority stake in its events business, RSA Conference, to private equity firm Crosspoint Capital Partners for an undisclosed amount. Archer, headquartered in Bedford, Massachusetts, is a governance, risk and compliance software platform with over 15,000 users globally. RSA's other business divisions include identity and access management platform SecureID and threat detection and response software platform NetWitness. Archer is not the only risk management software vendor up for sale in the United States.

☆ Here's why Carlyle Group's Rubenstein says now is a good time to invest
▼ + stars: | 2023-01-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

The worst of the bear market appears to be over and investors should look at getting back into stocks, David Rubenstein of the Carlyle Group said Wednesday. "The best time to invest is when there's some uncertainty or when the economy seems to be a little bit nervous in terms of where it's going," Rubenstein said. "It's a good time to invest now, because I think the market is not going to see another 20% drop in public prices," he added. "I think that is probably past us, and I think we're probably coming back to the point where people are going to feel comfortable investing." Stocks have risen to start the year, with the tech-heavy Nasdaq Composite up 6% in 2023.

☆ Watch CNBC's full interview with billionaire investor David Rubenstein
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with billionaire investor David RubensteinBillionaire investor and philanthropist David Rubenstein, Carlyle Group's co-founder and co-chairman, joins CNBC's 'Squawk Box' to discuss if the United States is at an inflection point for the federal funds rate and more.

☆ Jerome Powell has done a pretty good job, says billionaire investor David Rubenstein
▼ + stars: | 2023-01-18 | 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 EmailJerome Powell has done a pretty good job, says billionaire investor David RubensteinBillionaire investor and philanthropist David Rubenstein, Carlyle Group's co-founder and co-chairman, joins CNBC's 'Squawk Box' to discuss if the United States is at an inflection point for the federal funds rate and more.

☆ Palantir CEO tells tech workers who don't like the company's military deals, ‘Don’t work here’
▼ + stars: | 2023-01-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Alex Karp, CEO of Palantir, on day two of the World Economic Forum in Davos, Switzerland. Palantir co-founder and CEO Alex Karp knows many tech workers in Silicon Valley have misgivings about his data mining firm's dealings with intelligence agencies and the military. Tech workers have been more vocal in recent years in opposing their employers' contracts with the military. Two-thirds of people in Silicon Valley don't want to work for companies like Palantir, Karp said in Davos. "We don't like people who are coming in and saying, we want to kill terrorists and just without data protection," Karp said.

☆ Carlyle buys majority stake in India's VLCC for $300 mln - sources
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Jan 10 (Reuters) - Private-equity firm Carlyle Group (CG.O) has acquired a majority stake in Indian beauty care and wellness solutions provider VLCC for around $300 million, two sources told Reuters on Tuesday. The equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners, Carlyle said in a statement, without specifying a deal value. "In a crowded market, having a distinct value proposition with high product efficacy and an established brand is very valuable, and that's what VLCC has," Jain added. Founders Vandana Luthra and Mukesh Luthra will continue to hold a significant stake in the company, Carlyle said, without sharing further details. In December, the parent of Indian personal care products startup Mamaearth filedfor an initial public offering.

☆ Carlyle Group buys majority stake in India's VLCC
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Jan 10 (Reuters) - Private-equity firm Carlyle Group (CG.O) said on Tuesday it acquired a majority stake in Indian beauty care and wellness solutions provider VLCC. The equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners, Carlyle said in a statement, without disclosing any financial terms. VLCC founders Vandana Luthra and Mukesh Luthra will continue to hold a significant stake in the company, Carlyle said, without sharing further details. Carlyle has invested more than $5.5 billion in over 40 transactions in India as of Sept. 30, 2022, the company said. In November last year, a unit of Indian oil-to-chemicals conglomerate Reliance Industries (RELI.NS) picked a majority stake in Naturals Salon & Spa.

☆ Private equity acquires a taste for drug development
▼ + stars: | 2023-01-09 | by ( David Carnevali | ) www.reuters.com time to read: +6 min

Jan 9 (Reuters) - Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved. These deals are not structured as the leveraged buyouts that private equity firms are mostly known for. In most cases, the drug makers start paying the money back to the private equity firms when the drug is being developed, either by issuing equity, tapping cash on hand or borrowing. They also share a slice of the newly developed drug's revenue with the private equity firms once it's approved. Private equity firms also provide capital to spin out drugs into new companies.

☆ From Amazon to The Trade Desk, experts predict these companies will be the most active acquirers of advertising businesses next year
▼ + stars: | 2022-12-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

There's a strong interest from acquirers in hot trends like commerce media and data consultancy. Experts predicted the companies most likely to be acquirers of advertising businesses in 2023. Many industry observers expect advertising industry M&A deal volume and value to be down next year due to volatile macroeconomic conditions. Experts across the advertising industry — from consultants, to agency executives, analysts, investors, and adtech leaders — named the companies likely to be active in the advertising M&A market in 2023 and why. Apple could make an under-the-radar adtech acquisition for its sleeping giant advertising businessIndustry insiders predict Apple has big plans for its $5 billion-and-growing advertising business next year.

☆ Private-equity firms are coming around to the idea of using more data in the investment process. It's still an uphill battle.
▼ + stars: | 2022-12-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Take Blackstone, which recently expanded a data tool it originally built for its real-estate business to be used across its PE portfolio. As recently as just a few years ago, PE firms were just starting to warm to the idea of building out data-science teams. But that tech has been a hard sell for PE firms as well, until recently. Many PE firms are just now waking up to the possibilities of the public cloud. To be fair to PE firms, figuring out how to incorporate data analysis into the investing process is no easy task.

☆ Turnover surges as funds rush to exit private equity stakes
▼ + stars: | 2022-12-19 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

Conceived as an illiquid but lucrative method of accessing unlisted companies, private investments are typically structured into funds run by buyout firms. Investment firm Hamilton Lane says an unprecedented $224 billion in private equity stakes have been offered in the secondary market this year to mid-November. Others want to deploy their capital elsewhere - a sign that private equity funds are no longer so highly regarded. The need to sell to rebalance can occur when, as this year, private equity funds have outperformed public markets. On paper, plenty of private investments, which are typically valued quarterly, appear to have done very well this year.

☆ These are analysts’ favorite value stocks heading into 2023, including one name expected to double
▼ + stars: | 2022-12-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The IWF , its growth counterpart, has dropped 28% in that time, while the S & P 500 has fallen nearly 20%. This would mark the first time since 2016 that the IWD outpaces both the S & P 500 and IWF since 2016. The stock is trading at a slight discount relative to the S & P 500 and has buy ratings from three-quarters of analysts covering it. Mattel also made the list, with a price-to-earnings ratio of 10 and buy ratings from 73% of analysts. The stock is one the best performers in the S & P 500 for 2022, gaining more than 70% as investors have piled into the energy sector this year.

LONDON, Nov 30 (Reuters) - Eni (ENI.MI) is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted. Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It has operations in Norway - home to Eni's Var unit - Britain, Indonesia - where Neptune shares licences with Eni - Algeria, the Netherlands and elsewhere. A banking source confirmed talks had taken place in recent weeks, but that the outcome was "far from guaranteed" as valuations differed. Eni and Neptune declined to comment.

☆ Here’s how China’s COVID lockdown protests are sparking unrest across markets and rattling the global investing landscape.
▼ + stars: | 2022-11-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today we're going over what the ongoing protests in China mean for markets and investors. While the protests in China have been largely peaceful, some protesters have been met with violence from the authorities. Anti-government protests have erupted from Shanghai to Beijing as citizens rise up in opposition of China's zero-COVID policies. "Markets don't like bad news, and protests are bad news," Laffer told me on a phone call yesterday. China protests over lockdown measures could mean inflation gets stuck at 4%, according to Mohamed El-Erian.

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