SVG Capital prospers from surge in private equity dealmaking August 11, 2014 Listed private equity group SVG Capital yesterday said its portfolio had made £200m in cash since the turn of the year thanks to this year’s boom in new listings. The group, which invests money into private equity funds, said it generated £92.5m between January and June and a further £116.6m since thanks to dealmaking by [...]
There’s no justice in the US government’s record Bank of America settlement August 7, 2014 Surely anyone who hoped to see banks punished in the wake of the financial crisis should be ecstatic with the new settlement between Bank of America and the US Department of Justice? They’re not, though. The only person coming out on top in this settlement is the US government, which gets to pocket a big [...]
Urban Exposure becomes latest company to drop plans to float August 5, 2014 RESIDENTIAL property lender Urban Exposure yesterday became the latest company to scrap plans to float, blaming London’s lacklustre IPO market. The investment firm, founded by former Deutsche Bank risk analyst Randeesh Sandhu, had planned to raise £500m to help fund the construction of more homes in London and the south east. However, in a statement [...]
India will not let saga drop August 5, 2014 INDIA have risked further ill-feeling ahead of tomorrow’s fourth Test by complaining to the International Cricket Council after England’s James Anderson was cleared of breaching the code of conduct. Anderson was found not guilty of abusing and pushing India’s Ravindra Jadeja during the first Test at Trent Bridge. The Board of Control for Cricket in [...]
Hedgies high on the hog at Hedge Brunch’s Avenue summer bash July 31, 2014 St James's Street played host to a hoard of hedgies last night, as Hedge Brunch threw its summer soirée at Avenue restaurant. Founder of LNG Capital Louis Gargour was there, chatting to Alcova’s Russell Hart and Tom Pontin. “When Gus [Morison – HedgeBrunch founder] told me he was getting out of the industry to [...]
Argentina’s mismanaged economy: Default drama should be back again soon July 31, 2014 INVESTORS always seemed too optimistic that Argentina was going to solve its now-confirmed debt default, as the saga has wound over the past year. First, investors seemed to believe that the US Supreme Court would come to the rescue as a final appeal. More recently, investors believed a deal with the holdouts – bondholders who [...]
Investors pat Pets at Home after sales rise following share price decline July 30, 2014 Shares in Pets at Home leapt seven per cent yesterday after the newly-listed group won over unconvinced investors and delivered strong first quarter sales. The company, which provides pet food, accessories and veterinary services across more than 380 outlets, has seen a sharp decline in its share price since floating in March. It is one [...]
Argentina faces default: Debt deadline set for 30 July July 23, 2014 The deadline looms: 30 July is the day when Argentina either pays up or faces the furies of default, inflation and destitution. The New York court where Argentina has been fighting its battle to avoid paying a group of hedge fund creditors (known collectively as NML) has ruled that Argentina cannot have another stay of [...]
City delays vote over renaming of Heron Tower July 17, 2014 THE CITY of London has delayed a controversial vote over whether to grant the Heron Tower permission to rename itself after its biggest tenant, Salesforce, in a new twist to the saga. The City’s Planning and Transportation Committee said yesterday that the decision would be debated at a meeting later this year after members felt [...]
Inside Track: Intelligent Energy deal hasn’t been looking too clever July 17, 2014 I was sitting with an investment banker from one of the City’s bulge bracket banks yesterday who was describing the performance of London’s new issues this year as “broadly positive”. Of course, this statement is true, as far as it goes. But there have been some well publicised cases, such as Saga and Card Factory, [...]