Bruce Flatt put Wall Street's biggest private equity players on notice that the Canadian juggernaut was coming for them three years ago. The head of Brookfield Asset Management Inc. told Bloomberg Television then that his firm -- pushing into private equity -- should be mentioned in the same breath as Blackstone Group LP, Carlyle Group LP and KKR & Co.
Bruce Flatt put Wall Street's biggest private equity players on notice that the Canadian juggernaut was coming for them three years ago. The head of Brookfield Asset Management Inc. told Bloomberg Television then that his firm -- pushing into private equity -- should be mentioned in the same breath as Blackstone Group LP, Carlyle Group LP and KKR & Co. It was an unusually brash statement from the understated Winnipeg native. On Wednesday, Brookfield Asset Management agreed to buy a majority stake in Oaktree Capital, a move that will create a $475 billion alternative-investing behemoth.
The company has never raised a private equity, venture capital funds or acquired a company in the past. : Software products firm Zoho Corp has announced its first acquisition after buying Bengaluru-based hiring automation product start-up ePoise Systems for an undisclosed amount. According to 2015 reports, ePoise had raised half-a-million dollar from Orios Venture Partners and a few angel investors. Zoho, with a suite of SaaS applications and online productivity tools, has over 40 business applications in areas of customer relationship management, human resources, finance, office productivity and customer service, with more than 45 million users worldwide.
Jim Zelter says he wants to build the GE Capital of tomorrow. You read that right. Zelter's firm, Apollo Global Management, is slowly picking off pieces of the finance arm that nearly brought down... To view the full story, click the title link.
Wall Street banks and hedge funds are closing in on a fix that they hope will clean up an $8 trillion portion of the derivatives market that's gained a reputation for being one of the shadiest corners in finance.
DENVER, February 27, 2019-- Excellere Partners, a leading Denver-based private equity firm specializing in partnering with entrepreneurs and management teams through recapitalizations and management buyouts, is pleased to announce the promotion of Mike Vieth to Principal, the promotions of Nick Coleman and Matt Halverson to Vice President, and the addition of Tyler Ashley as Origination Associate. "We are very proud of the team that we are building at Excellere, and we are excited to be developing strong talent such as Mike, Nick and Matt within our organization," said Brad Cornell, Partner at Excellere Partners.
* NSF looks to sell Provident unit, fix financial performance (Adds CEO comments from call, analyst comments): (Reuters) - The former boss of Provident Financial is leading an unsolicited 1.3 billion pound ($1.7 billion) bid to buy the firm where he spent 22 years but which has run into trouble with regulators worried about the rates it charges on loans. The two firms provide short-term loans to consumers who might otherwise struggle to borrow from more mainstream banks, a sector under pressure as lawmakers want to rein in punitive interest rates charged on borrowing by often vulnerable people.
GIC and Atlas Merchant Capital will acquire the stake from private equity firms Genstar Capital and Aquiline Capital Partners. The post GIC, Atlas Merchant buy stake in US retirement services firm Ascensus appeared first on DealStreetAsia.
Bank of America Merrill Lynch has lost a star in its stock-trading division. Bill Hillegass, 35, is leaving his post as head of equity derivatives in the Americas after less than two years. A 35-year-old stock-trading star and head of equity derivatives in the Americas has quit Bank of America Merrill Lynch after a year and a half at the firm. William "Bill" Hillegass ditched Barclays to run equity derivatives in the US for Bank of America in August 2017, but now he's leaving the bank to join a top buy-side firm, according to people familiar with the matter.
Buyout firm Apollo Global Management LLC has agreed to acquire a majority stake in 14 television stations from privately held Cox Media Group, the company said on Friday, a move that sets up Apollo to become a [...]