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Blackstone Discusses Lending Partnerships with US Regional Banks
Blackstone, one of the world's leading private equity firms, is currently engaged in discussions with several large US regional banks regarding potential lending partnerships. The aim of these discussions is to provide these banks with additional resources to lend to companies, as the recent turmoil in the industry appears to be transforming into a credit crunch...
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Global Private Asset Allocation Set to Increase in 2023, BlackRock Survey...
Private assets will continue to grow as a percentage of global portfolios, with income generation being the chief driver of allocation decisions, according to BlackRock Alternatives’ first Global Private Markets Survey. Survey respondents included senior executives and allocators at more than 200 institutions in 22 countries...
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Rising Interest Rates Spoil Private Equity’s Run on Food and Beverage
In 2021, private equity funds used bundles of debt to buy 786 food and beverage manufacturers worth $32 billion. But higher labor costs, supply chain disruption, and inflation changed the outlook for what seemed like a stable industry...
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Accel-KKR Closes on $5.3 Billion in New Capital Commitments
Technology-focused private equity firm Accel-KKR has completed fundraising for two funds, closing on $5.3 billion of new capital commitments, the company announced in late March. The General Partner of Accel-KKR represents the largest investor in both funds, Accel-KKR Capital Partners VII LP and Accel-KKR Emerging Buyout Partners II LP...
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Asia Pacific Private Equity Deal Value Drops in 2022
Private equity deal value in Asia Pacific fell 44% year-on-year to $198 billion in 2022, after two years of record dealmaking, according to a Bain & Company report. Slower economic growth, declining consumer confidence, falling manufacturing output, high inflation, and mounting global and regional uncertainties caused the drop, the global consultancy concluded in its Asia Pacific Private Equity Report 2023...
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KKR Steps into Japanese Hotel Sector with Hyatt Regency Tokyo Acquisition
Global investment firm KKR and real estate private equity company Gaw Capital Partners have announced that they have entered into agreements to acquire Hyatt Regency Tokyo, according to company statements. The deal is KKR’s first hotel investment in Japan. The Hyatt is a 746-room luxury hotel in the heart of Tokyo’s business and retail district, next to the Tokyo Metropolitan Government headquarters...
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Blackstone Allegedly Considering Stake in FTV Capital
A Blackstone-managed fund is in talks to acquire a minority stake in FTV Capital, a growth-equity investment firm, according to Bloomberg, attributing an unnamed source. The prospects for the deal’s success are unknown. FTV raised $2.3 billion in 2022 for its largest fund...
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Private Equity Continues Targeting Healthcare
The number of private equity deals in healthcare rose from 325 in 2010 to over 1,000 in 2021, according to research from the University of Pennsylvania Leonard Davis Institute of Health Economics. “Private equity firms have invested nearly $1 trillion through thousands of deals to acquire hospitals and specialized practices in the last decade alone,” said Rachel M. Werner, MD, PhD, Executive Director of the institute...
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Largest U.S. Pension Fund Solid After Bank Failures, It Says
The California Public Employees Retirement System (CalPERS), which has a combined exposure of $78 million in Silicon Valley Bank (SVB) and Signature Bank, says it is resilient following the mid-March failures of the two institutions. Manager of the largest pension fund in the country, valued at $457.4 billion, CalPERS views its risk as minimal...
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Biden Executive Order Set to Limit US Investment in China
Uncertainty about China has caused a reduction in U.S. investment in the world’s second-largest economy, and now, the Biden Administration is poised to trigger more of a slowdown. President Biden is set to sign an executive order that would curb investment in China’s tech industry, limiting its strength in the semiconductor market and effect on global supply chains. The action would establish a system for monitoring and blocking investment...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...