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LATEST ARTICLES
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The investment firm founded by securitization experts in 2015 has grown to an $8 billion portfolio of 60 companies without managing any third-party funds and still sees big potential returns, notably in football clubs, from applying the discipline of structured finance to operating businesses.
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A new study attempts to quantify the damage of 2022 for sovereign wealth funds. Beneath the numbers are tumultuous levels of deal activity, as funds tried to take advantage and position for the long term.
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Sovereign wealth and pension funds have poured into private and illiquid asset classes over the last 10 years.
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Last week’s financial summit aimed to show investors Hong Kong is open for business. While well attended, it also served as a reminder of how closed off the financial hub has become and how much of its lustre has been lost.
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Qatar has spent 12 years and more than $200 billion preparing for the World Cup, which kicks off on November 20. What happens when the games end and the tourists leave?
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New trading protocols offer some hope that investors may find the other side of the trade, but turnover in normally liquid bonds can suddenly collapse.
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Groups such as Ontario Teachers’ Pension Plan, CDPQ and British Columbia Investment were forerunners in the development of new private-market asset classes, particularly infrastructure. Euromoney traces the evolution of the funds’ approaches and scale to the point where they are desired partners for private assets worldwide.
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Plans to incentivize foreign capital aim to boost capacity, with a new internal ‘investment bank’ to drive growing pipeline.
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A Singapore-based investment vehicle fronted by former Commonwealth Bank of Australia CFO Rob Jesudason aims to invest in financial disruptors that will complement the industry without reinventing it.
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Douglas Flint, former HSBC chair and current chairman of Abrdn, talks to Euromoney about climate change, his hope for the future and how he convinced CEO Stephen Bird to join the firm over fish and chips and a pint in an Edinburgh pub.
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Opening up personal and small business loans as an asset class for retail investors brings rewards as well as the obvious risks.
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Fintechs are caught in a brutal competitive squeeze between losses on businesses they are good at and the urgent need to offer new ones.
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Private equity has been slow to join the ESG revolution. More firms are waking up to the opportunities on offer as well as the downside risks.
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The UK has been hit by Brexit as well as the pandemic, making for poor returns and a weaker recovery. UBS argues that this allows investors to buy while it is cheap.
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East Capital co-founder Karine Hirn began her investing career in Russia in the 1990s before moving to China to head up the firm’s Asian expansion. She discusses the challenges of the Chinese market, why eastern Europe has the edge on corporate boards and why governance is key to ESG.
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There are interesting titbits on Africa, private debt and renewable energy at the Abu Dhabi sovereign wealth fund.
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The Public Investment Fund is unrecognizable from the sleepy vehicle it was until 2015. More risk has led to some bad investments, but the crown prince says overall returns are good. Can they stay that way?
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China’s asset management industry barely existed 20 years ago. By 2030 it will be the world’s second largest. There are myriad ways for foreign firms to get it right – or horribly wrong. Here are Euromoney’s precepts for a better chance of winning – and avoiding failure.
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Environmental, social and governance investors can lend out their securities, but greater communication and transparency is needed for it to work.
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What can we learn from the China Investment Corporation’s latest numbers, which cover the year prior to Covid?
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Environmental, social and governance factors are financially material and the time for debate is over – unless you’re Trump.
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Faced with an estimated $100 billion budget deficit but committed to a vast expenditure programme, Saudi finance minister Mohammed Al-Jadaan explains how he plans to balance the books.
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The government’s resignation this week could pave the way for reform – and unlock essential IMF funding – but is the will to change there?
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The sovereign wealth fund is withdrawing to cash, has seen a once-in-a-generation drawdown and is positioning defensively.
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A new Euromoney podcast series traces the relationship between space and the private sector, from the early Cold War state-funded model of Apollo to one in which venture capital backs the most interesting and visionary ideas.
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Alternative data can tell in near real time the story of economic and financial market disruption now playing out, but asset managers need artificial intelligence to read it.
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Bronte Capital’s John Hempton takes a unique approach to finding the stocks he wants to short; it has given him a cult following in his native Australia and beyond.
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Private lending vehicles that are structured to maximize fees are looking dangerously fragile, and mismarking of asset values could spark legal disputes.
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Euromoney's latest coverage of black gold.
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Expo 2020 showcases economic and business opportunities in Dubai. Bankers hope it will lead to a boom in areas such as SME lending and infrastructure investment, but worry that a short-term lift will not be enough to dispel broader concerns about the country’s economy.
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A snack food firm from Wuhan has completed its $70 million IPO in Shanghai, the first out of the gate since Chinese New Year. Its canny bankers helped get regulatory approval by promising to fund the fight to stem the epidemic.
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As birth rates fall and the UAE government looks at ways to spur population growth, private equity firms see opportunities in IVF.
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Dealmakers are optimistic about a pick-up in large deals and outbound M&A from Europe this year, but the need for regional consolidation is more urgent.
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The asset manager has decided to pull investment from firms that don’t make sufficient progress on ESG disclosure while it routinely votes against climate-related shareholder resolutions itself.
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Mindspace hopes to raise more than $150 million in IPO slated for the end of March; more Reit sales to follow in Mumbai during the next 18 months.
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Partnership with digital investor platform is the latest move by bank’s Sprint fintech team.
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Ethiopia’s IMF deal is a notable step towards addressing its external imbalances and to opening up the country’s economy.
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Itaú retains 49% stake, now equivalent to 10% of the group’s market cap, as rapid growth leads to runaway valuation.
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The first deal under new 19C listing rules will raise $12.9 billion if greenshoe is exercised.
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The Italian fashion house’s sustainability linked loan, arranged by Crédit Agricole, builds the catwalk for other retailers to follow suit.
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Kenya’s parliament passes a law to lift an interest rate cap that has hampered credit growth and economic development, in a move that may pave the way to a new agreement with the IMF.
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New proposals by the SEC have shaken the investor community, threatening the ability of smaller shareholders to file resolutions and potentially preventing ESG issues from being heard.
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Saudi Aramco’s intention to list aims to clear up any doubts wealth managers may have about investing on behalf of women, but it also draws attention to the fact that, despite reforms, the full inclusion of women in Saudi society is still a distant reality.
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Partnership with Ellen MacArthur Foundation aims to raise awareness of circular opportunity in financial sector.
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When renewables private equity group Equis Energy was sold to GIP for $5 billion – $3.7 billion of it equity – investors walked away with well over double their initial investment. The founders of Equis made around $800 million. But why was more than $500 million of the proceeds ringfenced into a vehicle called Equis Renewables, in which the underlying investors did not participate, while the general partners got it all? The story of how those assets got there casts a light on the curious inner workings of modern private equity.
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As in financial advisory, so too in asset management: data scientists are the new talents Lazard is seeking to bring in alongside its portfolio managers and analysts.
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Advocating ESG while investing in one of the world’s largest oil companies is an uneasy truth.
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The locals in Brazil are enjoying their home-field investment banking advantage.
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The gradual erosion of institutional credibility could prove more damaging to Turkey than economic and political shocks.
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Israel has become one of the world’s most important fintech hubs, attracting millions in investment from some of the biggest global brands and venture capital funds. Can its start-up culture now evolve to grow large fintech businesses at home?
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Former DWS head could shake up captive fund model after Flint’s exit.
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Investors should focus on collection and recycling to have the greatest impact in targeting plastic waste.
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OUE real-estate investment trust (Reit) merger follows Viva-ESR; hope is to create better liquidity in stocks.
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Last year was key in the development of one of Oceania’s more unexplored yet potential-rich economies. Its inaugural $500 million sovereign dollar bond caught light and its hosting of the APEC Summit was a hit. The country now needs investment to unlock myriad opportunities in agriculture, power, infrastructure, telecoms, financial services and tourism.
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus.
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The investment landscape is shifting rapidly as falling returns on sovereign fixed income assets force investors to look elsewhere for returns. Retail investors in particular are playing an important role in the transformation of local capital markets.
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The 100-day mark of Brazil’s new president, Jair Bolsonaro, has recently passed; no one – not even the government itself – pretended the time had been well spent.
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TNC aims for $1.6 billion impact of blue bonds by 2025; Morgan Stanley commits to financing plastic reduction for oceans.
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The pieces are starting to shift on the board of Chinese investment banking. There have been signs of progress, frustration and new strategy since last April’s announcement that foreigners would be allowed to take majority stakes in securities joint ventures on the mainland.
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CEO says bank liquidity and lavish social spending hamper capital markets development.