GP-led Fund Restructurings have become an increasingly important part of the private equity secondaries market, accounting for 40% of 2018's US$70 billion secondaries activity according to ILPA....By: Hogan Lovells.
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Signature Bank said April 15 that it formed a venture banking group to focus on serving venture capital firms and the portfolio companies in which they invest. Ken Fugate, a co-founder of Square, will lead the [...]
The Illiquidity Premium And The Market For Private Assets | Allaboutalpha: Alternative Investing Trends And Analysis | A Finance Blog About Private Equity, Commodities, And Other Alternative Asset Classes.
The illiquidity premium is one of the most frequently discussed and hotly disputed subjects in financial economics. Speaking broadly, an investment is not a checking account. One generally cannot just "get the cash back" at a moment's notice, by visiting some equivalent of an ATM. How long will it takeRead More.
Sycamore Partners' $5.4 billion refinancing of Staples is a "credit agreement written on a cocktail napkin," industry observers say. : (Bloomberg)--Stefan Kaluzny has made a ton of money -- and drawn his share of critics -- buying down-on-the-heels retailers using lots of debt. Now, Kaluzny's Sycamore Partners is under scrutiny again, after completing a deal that left even seasoned leveraged-buyout experts agog. On Tuesday, Sycamore pulled off a $5.4 billion refinancing of Staples Inc., which it bought in 2017, that funded a staggering $1 billion dividend to the private equity firm.
Revenues of investment banking firms have been hit by drop in activity. : Domestic investment bankers may take home 30-50 per cent of annual pay as average bonuses, far lower than the 100-200 per cent they pocketed in the last financial year. FY19 saw a lull in equity capital market (ECM) activity, particularly in the latter half of the year, impacting revenues. The amount mopped up by way of initial public offerings (IPOs) and qualified institutional placements (QIPs) dipped about 80 per cent over the previous fiscal, while the quantum of buyback offers declined 17 per cent.
It's easy to fall for Silicon Valley's billion-dollar startups, getting caught up in the story of innovation and disruption. But think twice before you jump in head-first when they began finally trading on Wall Street.
As Lyft secures investors for its initial public offering, there are many money managers who won't be involved in the first wave of activity. That group includes Jack Ablin -- the chief investment officer at the $3 billion Cresset Capital Management -- who shares the approach his firm plans to use instead. Ablin also lays out the three trading strategies he expects other money managers to use as Lyft hits the market and as its ride-hailing competitor Uber prepares its own IPO for later in 2019.
The company has raised $1.5 billion in funding and reportedly filed paperwork for an initial public offering. : Reports by CNBC in late July, 2018 suggested that social media website Pinterest could finally be living up to its hype. Founded in 2010, the company has been the recipient of VC funding from firms like Rakuten, Goldman Sachs (GS) and Andreessen Horowitz. Pinterest allows roughly 200 million active users to create and share pictures and other content by "pinning" items of interest.
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