Virgin and Amazon bosses do well in our awards for business brass neck, but there are also nods to big oil, big money – and a powerful whiff of Musk Every Christmas, Observer Business Agenda casts its eye over the year that was, seeking...
Deal for almost 1,300 British pubs thought to be worth up to £1bn Punch Pubs has been bought by the private equity investor Fortress in a deal for almost 1,300 British pubs thought to be worth as much as £1bn. The company’s pub landlords...
The sole reason the ‘carried interest’ loophole survives is fierce lobbying by the private equity industry Anyone remember the “carried interest” loophole that lets hedge fund executives and private equity managers – among the wealthiest...
The six-month moratorium placed on the telecom’s largest shareholder has now passed. Here’s what could happen next BT’s status as a potential takeover target is back in focus after UK rules preventing its new largest shareholder from...
Analysis: not seeking a mandate from the mutual’s members or explaining the deal properly to them were fatal errors LV= members block US private equity takeover A triumph for the mutual movement? Well, a messy triumph at best. The £530m...
Approach by Bain Capital pitted group’s leaders against campaigners and politicians in year-long battle Analysis: board’s blunders buried Bain takeover Members of the mutual insurer LV= have blocked a takeover by the US private equity...
Members of the 178-year-old mutual insurer will decide whether to accept the controversial private equity bid The fate of one of the UK’s oldest and largest mutual insurers will be decided on Friday as LV= members cast their ballots on a...
Lawyers for two members of UK mutual sought delay to controversial takeover by US private equity firm The City regulator has refused to intervene in a deal to sell the mutual LV= to a US private equity firm, despite an 11th-hour plea by...
Shares soar after board recommends £1.2bn offer from Triton Investment Management The cancer drug specialist Clinigen has agreed to a £1.2bn takeover deal from a London-based investment firm, becoming the latest big British company to be...
An inquiry into the sector is long overdue, and the best source of private capital is pension funds It’s a shame that Jeremy Hunt, health secretary from 2012 to 2018, didn’t propose an inquiry into private equity-style funding models in...
Members of the former Liverpool Victoria vote this week on a deal that may be the last gasp of a more equitable era After 178 years of history, mutual insurer LV= faces a crunch moment this week, when its members decide whether to sell...
Brand looks poised for sale in 2022 as US owners look to spin off camps Butlin’s is poised to be sold off next year, potentially triggering a bidding war for the famous holiday camp brand, which has benefited recently from the staycation...
Martin Shaw says ‘three-act tragedy’ has led to plans to demutualise, in criticism of chief executive and chair Bosses at the insurer LV= have been criticised over alleged conflicts of interest in its controversial £530m private equity...
Troubles for challenger bank continue, with Carlyle Group saying it was no longer interested Metro Bank shares have slumped after the US private equity firm Carlyle Group said it had ended its interest in buying the UK challenger bank....
Bain’s £530m offer may stack up for the board but the mutual’s 1.2m policyholders get the final say The long and confusing tussle over the sale of LV=, the mutual known as Liverpool Victoria in its less funky days, is proving a wonderful...
US private equity group attempts to counter concerns over $530m bid for UK mutual insurer The US private equity group Bain Capital has insisted that LV= customers will “receive significant financial benefits” as it tried to counter...
Insurer Royal London reportedly hopes to join up with rival bidder Bain Capital and sell off parts of 178-year-old firm Fresh concerns have been raised over the future of mutual insurance firm LV= after it emerged that bidders could...
Exclusive: Secrecy obscures fees already paid to Malik Karim’s investment bank for advice on pension firm’s demutualisation What is LV= and why does its takeover matter? The Conservative party’s new treasurer could make millions of...
Questions linger over the proposed buyout of the pensions and insurance mutual by a US private equity firm Tory treasurer could net millions from controversial LV= takeover LV= is a pensions and life insurance mutual originally known as...
In agreeing this private equity deal and keeping most of its details from their own members, LV= directors have shown a striking combination of high-handedness and cack-handedness It was founded shortly after Victoria ascended the...
Secondary sales of stakes in private equity, venture capital and real estate funds totaled $47 billion in 2014, roughly 80 percent more than in 2013, research by the investment bank Evercore found.
The Treasury Department has the legal authority to close some tax loopholes that Congress did not intend, writes Victor Fleischer in the Standard Deduction column.
The investment firm H Partners raises reasonable questions about the board, chief executive and earnings of Tempur Sealy, Stephanie Rogan of Reuters Breakingviews writes.
H Partners, an activist hedge fund, called for the ouster of Tempur Sealy's chief executive and board, claiming the mattress maker has suffered from years of mismanagement.
Carlyle, the Washington-based private equity giant, said that its quarterly economic net income — a measure of profit that includes unrealized gains or losses — declined 68 percent, to $180.5 million.
Junior bankers — some who graduated from college only last year — are being courted for lucrative positions at companies such as Bain Capital and the Carlyle Group.
Kohlberg Kravis Roberts said its economic net income — a profit measure that includes unrealized gains or losses — was $86.6 million, compared with $789.6 million in the period a year earlier.
Apollo Global Management's economic net income after taxes — a profit measure that includes unrealized investment gains or losses — declined nearly 80 percent in the fourth quarter.
Gary Loveman will be succeeded by Mark Frissora, the former chief executive of Hertz, who left the rental car company last year after pressure from activist investors.
"I have begged, literally begged" young financiers not to start their own firms "because they're going to destroy their careers," says Stephen A. Schwarzman.