financial vehicles
Private-Equity Group Reaches Deal to Buy Medline for Over $30 Billion
A group of private-equity firms reached a deal to acquire Medline Industries Inc. that would value the medical-supply company at more than $30 billion, in one of the largest leveraged buyouts since the financial crisis. The Wall Street Journal reported earlier Saturday that the group was close to a deal after beating out a rival …
Archegos Losses Top $10 Billion as UBS, Nomura Add to Damage
UBS, Switzerland’s biggest bank by assets, said it lost $774 million following Archegos’s implosion, a bigger hit than analysts expected, deepening the damage caused by the fund. Meantime, Japan’s Nomura, which flagged losses of around $2 billion last month, upped its total damage tally to $2.85 billion. This included a loss of 245.7 billion yen, …
AnaptysBio and Seagate Technology See Activist Action
Text size These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from March 4 through March 10, …
Private-Equity Deals for Information Technology Soar as Companies Modernize Infrastructure
Private-equity investments in technology soared in the final months of 2020 as investors sought to take advantage of a rise in corporate IT spending. Investors spent $65.17 billion last year on 2,138 private-equity deals with U.S.-based information technology companies, down from $72.47 billion over 2,007 deals in 2019 but far outpacing investments in any other …
When the bull market breaks, it’s ‘likely to break hard,’ warns longtime bear who suggests investors are putting too much faith in the vaccine
“ ‘I’m a believer in the Austrian School of Economics that says that the magnitude of the decline is proportional to the excesses created during the prior boom. I was early in 1998, 1999 and in 2006 to 2007… When it breaks, it’s likely to break hard’ ” That’s David Tice, the former manager of …
Amazon and Mall Operator Look at Turning Sears, J.C. Penney Stores Into Fulfillment Centers
The largest mall owner in the U.S. has been in talks with Amazon.com Inc., the company many retailers denounce as the mall industry’s biggest disrupter, to take over space left by ailing department stores. Simon Property Group Inc. has been exploring with Amazon the possibility of turning some of the property owner’s anchor department stores …
Technology, Manager Initiative Buffer Florida Pension’s PE Portfolio
Hefty exposure to technology investments combined with swift action by managers helped lessen the impact of the coronavirus on the private-equity portfolio of Florida’s largest public pension fund, the Florida State Board of Administration, which manages the pension, said in a recent presentation. Nearly 44% of the market value of Florida Retirement System Pension Plan’s …