Tuesday, 23 September 2014
Last updated 7 hours ago
Apr 11 2013 | 12:11pm ET
Private equity firms spent much of the first quarter selling off a record amount of stock in follow-on offerings.
Buyout shops sold $20.5 billion in shares during the first three months of the year, the highest quarterly pace on record, according to Dealogic. Also record-breaking was the proportion of follow-on offerings that p.e. firms were responsible for in the quarter, 51%. And the 50 offerings were twice as many as in the first quarter of last year.
The sales helped push p.e. firm's U.S.-listed stock ownership down by 91% to about $80 billion, according to Ipreo.
The sales come amidst a major market rally that has pushed the Standard & Poor's 500 Index up more than 10% this year. Among the biggest deals of the quarter were Bain Capital and Kohlberg Kravis Roberts' sale of $1.8 billion in HCA Holdings shares and Apollo Global Management's unloading of $1.5 billion in LyondellBasell Industries shares.
Nor do things appear to be slowing: Apollo will price a $1.5 billion sale of Realogy Holdings shares today.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.