In 2002, Mark O’Hare filed a public information request with the Massachusetts Pension Reserves Investment Management Board, requesting information about the performance of the private equity investments. The state pension fund initially opposed the British entrepreneur’s move, arguing that the data was a trade secret. But a state official sided with O’Hare, helping him overcome … Read more
Blackstone Group has become one of the largest buyers of a type of bank debt that has become a lifeline for the private equity industry, exposing the company to the risks that come with running its own business. The world’s largest buyout group, which manages more than $1 trillion in assets, has emerged over the … Read more
Millions of workers saving in company pension schemes will for the first time put their money into illiquid, unlisted assets. Legal & General has announced a new fund that could manage billions of pounds. L&G, which runs occupational pension schemes for employers including Tesco and NatWest, said its new fund would put savers’ money into … Read more
Unlock the Editor’s Digest for free FT editor Roula Khalaf selects her favourite stories in this weekly newsletter. Even by Blackstone’s standards, it was a huge windfall. The private capital group recently sold the last of its massive investment in Refinitiv, the financial data company it acquired from Thomson Reuters. The investment is considered one … Read more
Stay informed with free updates Simply log in to the Private assets myFT Digest – delivered straight to your inbox. Defaults on loans to risky borrowers, a lifeline for private equity-owned firms, have risen by 250 percent, according to the Bank of England, which warned that the sector “faces challenges in the higher interest rate … Read more
Nowhere in the world have private equity firms found a more hospitable environment than in the UK: the scale of takeovers over the past two decades has had a greater impact on the overall economy than in any other developed market, including the US, where the sector has emerged, data shows. Private equity firms have … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. HPS Investment Partners has raised one of the largest private credit funds ever, cementing its position as one of the industry leaders as the company debates a possible stock market listing or merger. HPS raised … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. Deutsche Bank has cut spending on external consultants at its private bank by 70 percent as the division tries to become more profitable after a badly failed IT project last year. Under the private bank’s … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. The UK private equity sector has welcomed as “encouraging” shadow chancellor Rachel Reeves’ suggestion that buyout managers investing in their funds would continue to enjoy favorable tax treatment. The Labor Party has promised to raise … Read more
Image caption, Georgina, 16, is one of 601 children waiting for heart surgery in England Item information Author, Jane Deith and Alys Harte Role, BBC file at 4 1 hour ago The number of children treated in private hospitals in Britain rose by almost a quarter last year to more than 46,000, according to new … Read more