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This year, EQT Asia's Jean Salata hopes to wager around $5 billion on India in the areas of IT, pharma/healthcare, and finance https://ift.tt/GODClkM This year, EQT Asia's Jean Salata hopes to wager around $5 billion on India in the areas of IT, pharma/healthcare, and finance To increase its presence in Asia, Sweden's EQT purchased Baring Private Equity Asia in 2022 for a sum of $7.5 billion. For the last ten years, India's overall macroeconomic environment has been very favorable and good, according to Jean Salata, Chairperson of EQT Asia and Head of Private Capital Asia. The buyout firm's current transaction pipeline in India, according to Jean Salata, Chairperson of EQT Asia and Head of Private Capital Asia, is the greatest he has ever seen. EQT (formerly BPEA EQT), which manages assets worth over $250 billion, has invested over $8 billion in over 30 Indian enterprises. In EQT's previous incarnation, it made investments in IT/IT services, placing bets on Virtusa, Coforge, Citius Tech, Hexaware, and Coforge, and reaping healthy profits. But with the $7.5 billion merger of Sweden-based EQT with Baring Private Equity Asia in 2022, EQT has changed the way it makes investments in India. Since then, EQT has made large investments in the financial services and healthcare industries. Examples of these investments include the $1.15 billion takeover of HDFC Credila and the $1.1 billion acquisition of the majority of Indira IVF. Salata, a tennis lover, said in an interview that EQT is thinking of investing $5 billion in India this year across a variety of industries. Revised passages: Let us begin with a topic of great importance that has gained much attention in the last few days: the confrontation between Israel and Iran. Geopolitical tension has increased as a result of the circumstances, and these disputes affect other countries as well, particularly friends. What are your thoughts on this unanticipated crisis and its effects on the general investing climate as a prominent worldwide investor? It's difficult to anticipate the future since the situation is so unstable, and it's probably too early to speculate on what may happen. It goes without saying that we are keeping an eye on it. This is a worrying trend. Ultimately, as investors, it's something that is entirely beyond our control. Thus, all we can really do at this point is observe. That's what I would say. Back home, India's major national elections provide another unstable environment. Right now, the nation is in election mode. What is EQT's position about the potential effects of such a significant event on your plans to invest in India? Will everything continue as normal or will we have to wait and see? It is crucial for people like you to have continuity in policy, and elections are related to policy. Indeed. I would argue that India's general investment laws and regulations for foreign investors have been fairly consistent and friendly under Prime Minister Modi. And it is...

There is a bit going on in deal land at the moment. A little summary below ⬇️ Crescent Capital Partners is all over Pacific Smiles Group with a takeover offer. Another listed entity will leave the ASX Quadrant Private Equity has tipped a big cheque into Canva and has lined up an investment in Birch & Waite Foods Pty Ltd. It is also expected, given timing, that Quadrant are looking at a possible exit of Jaybro in 2025 with the wheels spinning hard on that position. Adrian Loader’s Allegro Funds look to have buttoned up a major refi of the facilities for Team Global Express with Commonwealth Bank and Daimler Truck AG leading the senior note. A huge vote of confidence for Christine Holgate and the team. As previously written Advent Partners has tipped into Private Emergency Health Australia. EQT Group’s portfolio company Storable has acquired Potentia Capital’s portfolio company Newbook Neoen has appointed sellside advisors looking for a 30% stake in the giant. The classic big infrastructure players are having a look with demand likely to drive a solid price given the pension funds need to deploy and meet ESG targets and Neoen for them is the holy grail. I think we will see Bapcor Limited report inbound interest after its latest results. I wouldn’t be surprised if Pacific Equity Partners lobs a decent bid to take it private. Finally let’s not forget about Austal. Currently the subject of Hanwahs courting but don’t forget about J.F. Lehman & Company who will no doubt be sitting in the wings waiting and watching. Austal is right in their wheelhouse so when it makes sense I suspect they will emerge.

Carl Icahn's journey from the streets of Queens to becoming a feared and revered figure in the world of #finance is a tale of acumen, audacity and ambition. Born on February 16, 1936, Icahn's modest upbringing was filled with a keen sense of curiosity and a penchant for challenging the status quo. Icahn's foray into the world of business began with his enrolment at #Princeton University, where he studied philosophy, demonstrating an early ability to dissect complex theories and ideas. However, his interest soon pivoted towards the #financialmarkets, leading him to attend medical school briefly before he dropped out to join the army. This eclectic background laid the foundation for his unconventional approach to investment strategies later in life. Icahn entered the world of #WallStreet as a stockbroker in the early 1960s. His sharp intellect and fierce determination quickly set him apart. He formed Icahn & Co., a securities firm, in 1968 and began his journey into the realm of options trading and arbitrage. By the 1980s, Icahn had established himself as a formidable force, known for his aggressive tactics in pursuing #undervalued companies and pushing for radical changes to increase shareholder value. His takeover of TWA in 1985 is particularly notable, showcasing his willingness to shake up industries and challenge corporate leadership. His strategies often involved acquiring substantial stakes in companies, advocating for asset sales, restructuring, or leadership changes to unlock value. As the years progressed into the 1990s and 2000s, Icahn's influence extended to major companies across various sectors, including Texaco, Western Union, Yahoo, and Apple. Each investment brought its own set of challenges and controversies, with Icahn frequently engaging in public disputes and negotiation battles. His involvement often resulted in significant corporate restructuring, driving profits and stirring debates about his methods and the broader implications for corporate governance. Into the 2010s, Icahn's #legacy continued to evolve, maintaining his position as a formidable figure in the world of finance. His battles with companies like eBay and Dell highlighted his continued commitment to aggressive investment strategies and shareholder advocacy. Throughout his career, Icahn's unyielding approach to investing and corporate intervention has made him a controversial yet undeniably influential figure, shaping not just the trajectories of the companies he invested in but also the practices and perceptions of corporate investment and governance.    Today, Carl Icahn's legacy is that of a maverick who reshaped the landscape of corporate America. His relentless #pursuitofvalue, coupled with his fearless approach to investment, has made him a legend in the financial world. As a titan of industry and a master of the boardroom battle, Icahn continues to inspire and intimidate, embodying the spirit of strategic innovation and relentless ambition. 

Leading in uncertain times: the war-time CEO A presentation by Rishi Khosla, CEO & Co-founder, OakNorth, an entrepreneur, philanthropist, investor, and the CEO and co-founder of leading financial technology company, OakNorth, which launched in September 2015. OakNorth is reshaping how entrepreneurs of scale-up businesses ($1m-100m revenue) are supported in order to boost growth, prosperity, and innovation for the benefit of communities. To date, it has lent over £10bn to businesses across the UK and across a multitude of sectors, directly supporting the creation of tens of thousands of new jobs and homes across the UK. Fast Growth Icons - the invitation-only network of the most successful scale ups, at @Claridges on 15th May 2024, co-hosted by Rothschild & Co White & Case LLP Investec HSBC Innovation Banking Inflexion haysmacintyre Evelyn Partners Canaccord Genuity Group Inc. IDA Ireland MBM Commercial LLP #founders #scaleup #fastgrowth #fastgrowthicons

As a CEO who has led two companies through the IPO journey, I well understand why more businesses aren't choosing to list in the United Kingdom. It's a concern shared by the government, and for good reason—fueling growth for our public services requires the spotlight on fast-growing companies and the tax revenue they generate. So, how do we encourage more companies to go public? Firstly, let's acknowledge the difficulty. Going public is expensive, comes with onerous corporate governance even on AIM and high performance expectations . A prospective IPO can also be a costly failure so it’s easy to see why private equity away from the glare of the public company spotlight may appeal more to Companies. However it remains a much needed source of capital for UK companies and exit strategies for many private equity investments. The need is there but I believe the market needs to adapt to the changing face of available capital too. My journey began in the early 1990s when I took over and acquired the Brands Hatch Leisure Group. Leading the company through its private equity journey to IPO transformed a once amateur group of racing circuits into a highly profitable leisure business. This experience, coupled with over a decade in finance, set the tone for my career. Fast forward to 2016 and I was leading a City law firm specialising in litigation. The parallels between the racing circuit and the legal sector might not be obvious, but both demanded courage, vision, change, and experienced leadership. Challenging established practices and embracing change were key in both arenas. Successfully taking this law firm public in 2018 marked a paradigm shift in the legal industry, raising £43 million and allowing the firm to fund litigation cases—a high-growth area. This move mirrored the success at Brands Hatch, transforming niche industries into commercially viable and agile businesses. My forays into boardroom life as a young woman equipped me with resilience for emotion-free decision-making. This, coupled with ventures across industries, shaped my leadership style—adaptive, innovative, and focused always on economic sustainability. The traits defining strong leadership—courage, risk-taking—often face scrutiny, but they are essential for success. In a world where playing it safe is the norm, it takes confidence and conviction to chart a new course. To encourage more businesses to list, we need courageous leadership. Despite the challenges facing the London Stock Exchange in attracting new listings, the current economic conditions make me believe that, notwithstanding high-interest rates, the private equity industry is poised for success. While the recent move by the UK Government to ease pension funds' investment in UK-listed entities is a positive step, more needs to be done. #CEOLife #Leadership #BusinessGrowth #IPOJourney

Preview of this week's private equity briefing: https://lnkd.in/eMkpd-rK Deal News Advent International is preparing to exit Evri, a UK-based logistics company, at a $2.5 billion valuation. L Catterton is part of a takeover bid for TOD'S, a luxury Italian shoemaker, that would value the company at $1.5 billion. Meanwhile, EQT Group is part of a consortium placing a $1.6 billion takeover bid for French music company Believe. Industry News The National Football League (NFL) may soon allow private equity firms to invest in teams. Several team owners are already affiliated with private equity, but firms are prohibited from making direct investments. Blue Owl Capital, a major player in private credit, reports that it originated 2x more loans in Q4 2023 vs. the same period a year prior. It’s a sign that private credit is still going strong, even in the face of expected interest rate cuts later this year. Speaking of private credit, Ares Management Corporation just completed raising a $1.7 billion credit fund targeting investments in Australia. AE Industrial Partners, LP is opening a new office in Washington D.C. with an eye on investing in more government contractors. The office will be managed by former Airbus CEO Chris Emerson. Investment bank Raymond James reports that private equity firms returned just 11% of their net asset value back to LPs in 2023, the smallest distribution since 2009. The deal drought has led several PE firms to restructure how they compensate employees. KKR, Apollo Global Management, Inc., and The Carlyle Groupwill tie a greater percentage of employee compensation to exit outcomes, in an effort to incentivize more deal activity. KKR reported better-than expected quarterly earnings last week. Net profit from asset sales were up +85% YoY and fee-related earnings were up +21%. It’s further evidence that the largest private equity firms continue to perform well amid an industry-wide downturn. Operating News The Body Shop, a UK retailer that was acquired by buyout firm AURELIUS in November, is reportedly heading toward a major restructuring, according to BBC. The CEO Confidence Index improved for the fourth consecutive month heading into February, according to Chief Executive Group. Executives say forward-looking demand appears strong. CEO succession expert Jeffrey Cohn argues that public companies can learn a lot from how private equity structures boards of directors for their portfolio companies. “PE owners recognize the value of a more collaborative model in which directors – often former CEOs themselves – can work more closely with management to drive transformation and results more efficiently,” he says. Altamont Capital Partners has hired Billy Medof as Operating Partner to work with the firm’s portfolio companies in the packaging industry.

𝗖𝗮𝗿𝗹 𝗜𝗰𝗮𝗵𝗻: 𝗧𝗵𝗲 𝗦𝗶𝗹𝗲𝗻𝘁 𝗔𝗰𝘁𝗶𝘃𝗶𝘀𝘁 𝗪𝗵𝗼 𝗤𝘂𝗶𝗲𝘁𝗹𝘆 𝗖𝗿𝘂𝘀𝗵𝗲𝗱 𝗕𝘂𝗳𝗳𝗲𝘁𝘁'𝘀 𝗥𝗲𝘁𝘂𝗿𝗻𝘀 While Warren Buffett has been crowned the "Oracle of Omaha," another billionaire investor, Carl Icahn, has been quietly crushing the market in his shadow. Icahn, known for his activist approach and shrewd negotiations, has delivered outstanding returns for his investors. Here's why Carl Icahn deserves a spot on your investing radar: 𝗦𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝗦𝘂𝗽𝗲𝗿𝗶𝗼𝗿 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲: Icahn Enterprises (IEP) boasts an impressive 14% annualized rate of return since 2000, compared to Berkshire Hathaway's (BRK.A) 9% and the S&P 500's 6% over the same period. 𝗨𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝗛𝗶𝗱𝗱𝗲𝗻 𝗩𝗮𝗹𝘂𝗲: Icahn's activist approach focuses on identifying undervalued companies. He then pushes for operational changes and strategic maneuvers, often leading to significant stock price increases. For example, his involvement in TWA airlines in the 1980s resulted in a 600% return for shareholders. 𝗔 𝗠𝗮𝘀𝘁𝗲𝗿 𝗡𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗼𝗿: Icahn's reputation as a "corporate raider" comes from his aggressive tactics, but they often benefit shareholders. In 2016, Icahn pressured Apple to initiate a massive $50 billion stock buyback program, directly boosting its share price. Beyond the numbers, Icahn's impact is undeniable. He has been a vocal advocate for shareholder rights, holding management teams accountable and pushing for long-term value creation. Don't let the headlines fool you. Carl Icahn may not have the same public persona as Buffett, but his results speak for themselves. Best, Harsh Shah #CarlIcahn #ActivistInvesting #ValueInvesting

Hong Kong billionaire Henry Cheng Kar Shun Chow Tai Fook Enterprises will be buying NWS Holdings for $4.5 billion to take the company private. 99.35% of NWD shareholders voting to approve the NWS Holdings sale. Read - https://lnkd.in/dTuifTFp follow Caproasia | Driving the future of Asia Hong Kong billionaire Henry Cheng Kar Shun Chow Tai Fook Enterprises will be buying NWS Holdings for $4.5 billion (HKD 35.5 billion) to take the company private, with 99.35% of NWD shareholders voting to approve the NWS Holdings sale.  The price represents a 14.5% premium over last closing price (Closing Price HKD7.99, Offer Price HKD 9.15, 27/6/23.  New World Development: “New World Development (“NWD,” “the Company,” Stock Code: 0017) announced that at its Extraordinary General Meeting (“EGM”) held today, its independent shareholders approved the resolution regarding the disposal of all NWD’s shares in NWS Holdings Limited (“NWS”) (the “Disposal”) and the related resolution in respect of the revision of annual caps of certain continuing connected transactions.  The Disposal was approved by approximately 99.35% of the votes cast.  Upon completion, the Disposal will provide NWD with cash proceeds of approximately HK$21,754.3 million, which will immediately strengthen the Company’s financial position. NWD will use a portion of the proceeds to pay a special dividend of approximately four billion Hong Kong dollars (equivalent to HKD1.59 per NWD share), allowing shareholders to immediately realize part of the value from their shareholdings in the company.  The Disposal is a continuation of NWD’s ongoing strategy to proactively explore corporate actions and strategic options to unlock shareholder value. It generates immediate value for shareholders, repositions the company around its property businesses, and supports its broader efforts to reduce leverage in the expectation of persistently high interest rates. This transaction will streamline NWD’s business and asset portfolio, bringing its future earnings and cash flow profile into greater alignment with its property businesses.”

EXIT SEASON: HOW TO PREPARE FOR THE NEXT M&A WAVE... Last week, Sifted published an article in partnership with Latham & Watkins discussing how early-stage businesses can prepare for the anticipated upcoming M&A wave. To put things into context, in August 2023, the M&A market had been noticeably subdued, with deal volume down 14% year-on-year... Many had been optimistic of a strong uptick by the end of 2023 but more certainly by Q1 of 2024... However, bullish inflation & sluggish interest rates have proved troublesome hurdles to overcome. The latest data published by the ONS on inflation rates announcing that February's rate of inflation had reduced to 3.4% put us significantly closer to the Bank of England's target of 2%, giving early assurances that we may be coming out of the other side of this latest economic cycle. From our perspective, we have seen a significant increase in appetite for Corporate and PE Associates across a large part of the legal market in March. Most noticeably, over half of the mandates we are currently working on are growth hires compared to replacement hires, which has not been the case for the past 12 months. This for us, is a major indicator that many law firms themselves are preparing for the next M&A wave ahead of us. Whilst there is never a perfect time to make a career move, there are strategic times to start considering your options. Should you be interested in hearing which firms are moving first in the market, please reach out to me on LinkedIn or email [email protected]. All conversations are confidential. Article: https://lnkd.in/eAppkd3N #legalrecruitment #Mergersandacquisitions #associaterecruitment #law #london #inflation #interestrates

There are many untold success stories where PE has transformed undervalued and underperforming companies, generating substantial returns. In the UK, PE supported nearly 1,500 businesses in 2023, empowering management teams with long-term strategies and access to new markets. Unlike traditional public companies burdened by short-term profit pressures and regulatory demands, PE-backed firms focus on growth and operational improvements. This approach allows for streamlined decision-making and reinvestment in core strategies, fostering a culture of purpose and entrepreneurial innovation. PE's success lies in strategic clarity, operational focus, and a supportive partnership with management, contrasting with the constraints often faced by publicly traded companies. Read More Here: https://lnkd.in/eEnYudDj The Times Richard Harpin Branded Hospitality Ventures #hospitality #restaurants #technology #finance Noah Stern Matthew Lerner Kim Karmitz Derrek Ross Tarek M.