DIRS.INFO The most relevant business & tech news

☆ Deal whiz Byron Trott suffers minor grill burns
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Dec 12 (Reuters Breakingviews) - Weber (WEBR.N) is a rare miscue for dealmaker Byron Trott, who typically serves up deals just right. It’s a reputational blemish for Trott just as he embarks on a major expansion. BDT, which focuses on family-owned businesses, did not sell down its roughly 60% stake at the time of the IPO, or subsequently. Outside investors may nevertheless recall Trott buying low – 43% below the IPO price, valuing Weber at $3.7 billion – the next time the firm brings a portfolio company to market, and wonder if they’ll get burned. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Sen. Kyrsten Sinema leaves Democratic Party and registers as an independent
▼ + stars: | 2022-12-09 | by ( Chantal Da Silva | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mike-Memoli-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +4 min

Arizona Sen. Kyrsten Sinema has announced she is leaving the Democratic Party and officially registering as an independent. Sen. Kyrsten Sinema leaves the Capitol building on Oct. 27, 2021. After joining the Democratic Party, she served in the Arizona state Legislature and went on to win a seat in the U.S. House in 2012 representing the Phoenix area. The Biden administration was informed of Sinema’s decision to leave the Democratic Party “mid-afternoon” on Thursday, a senior administration official said. Biden did acknowledge Sinema in his remarks, however, saying: “I want to thank Senator Sinema, who can’t be with us today.

☆ UniCredit CEO Orcel has leverage in pay debate
▼ + stars: | 2022-12-06 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Under UniCredit’s remuneration policies, Orcel receives 2.5 million euros in salary, with the potential for twice that via an annual bonus. A regulatory cap prevents UniCredit from paying its CEO a bigger bonus, so the board may have to hike his fixed salary to pay him more. UniCredit Chairman Pier Carlo Padoan said Orcel has not asked for a pay rise. Follow @LJucca on TwitterloadingCONTEXT NEWSItalian lender UniCredit will review the pay package of its Chief Executive Andrea Orcel ahead of its 2023 general meeting. Orcel’s pay package envisages a fixed salary of 2.5 million euros a year and a bonus of up 5 million euros.

☆ ‘There’s no rules. It’s crazy’: New money in NCAA recruiting leaves elite athletes ripe for exploitation
▼ + stars: | 2022-11-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kit-Ramgopal-Byline.Jpg | Kit Ramgopal | ) www.nbcnews.com time to read: +15 min

Instead, the coveted junior recruit was benched, due to a decision from the state’s governing body for high school sports. Meanwhile, in a growing number of states, including California, even high school athletes can enter contracts. But boosters can pay prospective students through NIL deals, as long as the money is not contingent on enrollment or athletic performance. A University of Miami booster has earmarked $10 million to sign players to NIL deals through his companies. Cunningham’s message to high school athletes is “the grass isn’t always greener,” even in California.

☆ Meet 5 of Goldman Sachs' newest partners, including a top fintech dealmaker and a structured trader from Honduras whose 3 brothers also work on Wall Street
▼ + stars: | 2022-11-09 | by ( Dakin Campbell | Alex Morrell | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

It also includes a star fintech banker and leading voice on the Black experience on Wall Street. Here are 5 top names who will help shape the Wall Street of tomorrow. In the 12 years that he's been at Goldman, Watkins has helped Goldman advise on some of the technology industry's biggest transactions. He has also been a leading voice in discussing the Black experience on Wall Street. After graduating in 2010, he went to work for the Global Electronic Trading Co., known on Wall Street as GETCO.

☆ EXCLUSIVE KKR raises $6 bln for biggest Asia infrastructure fund -sources
▼ + stars: | 2022-10-28 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

HOTBED FOR DEALSLike the debut infrastructure fund that made more than a dozen investments, KKR's latest one will target renewables, telecom towers, power, utilities and transportation infrastructure, among others, the sources said. This year alone, funds backed by the likes of KKR, Macquarie, infrastructure investors DigitalBridge (DBRG.N) and Stonepeak have struck deals for tens of thousands of telecom towers in the Philippines. Earlier this month, a top executive at Permodalan Nasional Bhd, Malaysia's largest asset manager, told Reuters that it plans to add infrastructure assets into its portfolio from 2023. Last year, 19 Asia Pacific-focused infrastructure funds raised a total of $10.3 billion, Preqin data showed. Last month, Neil Arora, a veteran infrastructure dealmaker from Macquarie, joined KKR as the head of its energy transition team for Asia Pacific.

☆ Factbox: Who's in and out in Credit Suisse's day of reckoning
▼ + stars: | 2022-10-27 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Oct 27 (Reuters) - Credit Suisse's (CSGN.S) latest shake-up has led to the promotion of some senior executives to more powerful roles while others are leaving. IN:MICHAEL KLEINA former Citigroup Inc (C.N) dealmaker, Klein has been named adviser to Credit Suisse CEO Ulrich Körner. He was hired by former Credit Suisse boss Tidjane Thiam in 2017 to run equity derivatives globally. A Spanish national, Lopez Lorenzo joined Credit Suisse in 2015 from JPMorgan (JPM.N) where he was a managing director in New York. The 47-year-old banker was part of a new crop of executives who had been tasked to restore Credit Suisse's reputation after a series of scandals.

☆ How Gregg Lemkau went from Goldman CEO contender to building a hybrid investment bank catering to billionaires
▼ + stars: | 2022-10-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

Gregg Lemkau was in the running for CEO before he left Goldman Sachs in 2020. Now he runs Michael Dell's investment firm, which is merging with billionaire advisory BDT. When Gregg Lemkau left Goldman Sachs in late 2020 to run Michael Dell's investment firm, many within and outside the bank were surprised. Cardinale, who had left Goldman a decade ago to start his own investment firm, knew it had to be a massive opportunity to pull away Lemkau. Oldest sibling Kristin runs JPMorgan's US wealth management business and Lemkau's younger brother Chip is a managing director at Goldman Sachs in private wealth management.

LONDON, Oct 27 (Reuters) - Seeking to restore vigour to a business that's been languishing, Credit Suisse (CSGN.S) says it will reshape its investment bank by resurrecting the First Boston brand. Still, Credit Suisse says it expects CS First Boston to generate 14% of total group revenue by 2025, starting with annual sales of about $2.5 billion. Credit Suisse has been plagued by an exodus of senior bankers over the past 18 months. Yet most trading activities will remain within Credit Suisse, raising questions on CSFB's ability to compete with the likes of Goldman Sachs and JPMorgan (JPM.N). Credit Suisse is hoping to eventually pursue an initial public offering of CSFB, Körner told analysts.

☆ Meet 9 top media bankers transforming the M&A landscape and driving deals for Warner Bros. Discovery, Legendary, Amazon, and more
▼ + stars: | 2022-10-20 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Brad Pitt's production company, Plan B, and Diamond Sports Group both recently tapped big banks to explore their options. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Moelis and LionTree were just tapped to help figure out what's next for Sinclair's Regional Sports Networks, Diamond Sports Group, while Brad Pitt's production company, Plan B, also hired Moelis to shop the production company, according to Variety. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.

But the Inflation Reduction Act, which represents about a third of the spending, was passed by Democrats alone. The White House is still pushing a more expansive child tax credit that was not included in the Inflation Reduction Act. Here’s a detailed look at what Mr. Biden wanted and what he got:Climate and Environment Proposed $722 billion Passed $509 billionOn climate, the Biden administration got much of what it wanted. Health Care Proposed $563 billion Passed $412 billionOn health care, there were some victories for the president — and much trimming. The family programs were eliminated largely because of concerns from Mr. Manchin about the overall size of what became the Inflation Reduction Act.

☆ Former Google ads boss launches ‘Web3’ search startup with backing from Coinbase, top VCs
▼ + stars: | 2022-10-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The round was led by Paradigm, a prolific crypto and "Web3" dealmaker, while Coinbase, Sequoia and Greylock — where Ramaswamy is a partner — also invested. Nxyz was conceived earlier this year by a team of engineers at Neeva, a search engine that doesn't include any ads and blocks online tracking tools. In a March blogpost on Neeva's website, nxyz is described as "an experiment bringing the same user-first ethos of Neeva search to web3." Unlike Neeva and Google — the "Web2" behemoth Neeva wants to disrupt — nxyz's Web3 search software isn't targeted at consumers. "I think it'll be a very different trajectory" to Web3 and crypto companies that have run into financial troubles, he said.

☆ Silicon Valley's not-so-secret thing for turning everyone into millionaires is angel investing. Here's how they do it.
▼ + stars: | 2022-10-11 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

Once only for the superrich, angel investing is now open to anyone with a few thousand dollars. With an estimated 360,000 active angel investors, it's become a favorite pastime in Silicon Valley. "It felt like gambling," David Spreng, a veteran venture-debt investor who's been angel investing as a side hustle for more than a decade, said. He wrote his first angel check shortly thereafter, a $1,000 investment in an electric-aircraft maker. The currency of Silicon Valley"Your currency, for lack of a better term, in Silicon Valley is you either started a company or you angel invest, right?"

☆ Meet 9 top media bankers transforming the M&A landscape as streaming video reshapes entertainment
▼ + stars: | 2022-09-29 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Company valuations are set to fall back to earth in 2023, and private equity and strategics are lying in wait. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Joshua Grode's Legendary Entertainment, backed by Dalian Wanda and now Apollo Group, which took a stake in the studio in January. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.

☆ Mitch McConnell calls Kyrsten Sinema the 'most effective first-term senator' he's seen and praises her defense of the filibuster
▼ + stars: | 2022-09-26 | by ( Bryan Metzger | Oma Seddiq | ) www.businessinsider.com time to read: +3 min

Mitch McConnell praised Kyrsten Sinema in remarks before her speech at the University of Louisville. He said she's "the most effective first-term senator I've seen in my time in the Senate." McConnell also celebrated Sinema for her opposition to ending the filibuster. "I've only known Kyrsten for four years, but she is, in my view — and I've told her this — the most effective first-term senator I've seen in my time in the Senate," said McConnell. "It took one hell of a lot of guts for Kyrsten Sinema to stand up and say, 'I'm not gonna break the institution in order to achieve a short term goal.'"

☆ How to land a job in private equity, from Blackstone to Apollo, KRR, General Atlantic, and more
▼ + stars: | 2022-06-03 | by ( Business Insider | ) www.businessinsider.com time to read: +6 min

Private equity is a rewarding but challenging field to break into. 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 from investment banks. These days, the private equity recruiting process has started earlier than ever, and it's resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day. General Atlantic managing director Alex Crisses walked Insider through the growth-equity investment firm's elite summer souring internship.

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

☆ Kevin Hart sold a $100 million stake in his media company to private equity firm Abry. Here are 10 more Hollywood production shops that are hot M&A targets.
▼ + stars: | 2022-05-19 | by ( Natalie Jarvey | Elaine Low | Madeline Berg | ) www.businessinsider.com time to read: +12 min

Abry Partners' $100 million stake in Kevin Hart's company HartBeat is the latest big M&A move in Hollywood. Dealmakers said production companies are valuable amid the streaming wars and demand for content. The M&A activity had top Hollywood dealmakers telling Insider in early 2022 that practically every independent production company is a target. Many production companies make work-for-hire or don't control the rights to a project once it is sold off to a studio distributor. Based on January interviews with five entertainment industry experts and insiders, Insider identified a list of 10 production companies that could be compelling acquisition targets as M&A activity continues.

Search resuls for: "DealMaker"

17 mentions found