Friday, 22 May 2015
Last updated 3 hours ago
Sep 12 2008 | 11:57am ET
Despite the ongoing credit crisis, opportunities for private equity in the financial services sector remain compelling.
According to a Piper Jaffray report, since last August financial institutions have written balance sheet values down by approximately $500 billion. And with total loss estimates ranging from $1 trillion to $2 trillion, financial institutions are likely to experience additional losses and write-downs.
“Financial services companies, as well as regulators, shareholders, boards of directors and management teams, are recognizing the value-added sources of smart capital that private equity represents,” said Tom Chen, head of the financial institutions group at Piper Jaffray. “Forty percent of all private equity deals announced in 2008 involved financial services companies as compared to only 2%in 2001.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…