Latest news with #Permira
New York Times
7 days ago
- Business
- New York Times
How Are the Summer Interns Making It Work?
The interns descending on the city this summer have a leg up, in some ways. Influencers on social media may help them figure out how to dress business casual, for instance, or point them in the direction of trendy restaurants. But many of these college students and recent graduates are short on cash, dealing with roommates (in some cases, parents and grandparents) and hustling to realize a version of New York that has danced across their social media feeds. In reality, after work they tend to pass out watching 'Love Island USA.' The cross-section assembled here — who landed internships in finance, marketing, law and social justice work, among other fields — are just diving in. The Finance Intern Hitting Pilates and Waiting for Pancakes Mya La'Pierre, 20Permira intern, $31/hour Between market research assignments, Ms. La'Pierre, an intern in private equity at Permira Advisers on Park Avenue, gets career advice from full-time employees over coffee and Sweetgreen. Want all of The Times? Subscribe.
Bloomberg
09-07-2025
- Business
- Bloomberg
PE Firms Circle Astorg's €5 Billion Fund Services Firm IQ-EQ
Private equity firms including Blackstone Inc. and Permira are considering bids for fund services business IQ-EQ, people familiar with the matter said, paving the way for one of the most competitive auctions in Europe this year. Carlyle Group Inc. and EQT AB are also among those studying the asset, the people said. Luxembourg-based IQ-EQ could be valued at about €5 billion ($5.9 billion) in a sale, the people said, asking not to be identified as the information is private.
Economic Times
07-07-2025
- Business
- Economic Times
Nuvama shares rally 4% as $1.6 billion buyout buzz offsets Jane Street overhang
Shares of Nuvama Wealth rose 4.3% on Monday, recovering part of Friday's losses after a Sebi order, as reports of a potential $1.6 billion buyout lifted investor sentiment. Global private equity giants CVC, Permira, EQT, and HSBC are in advanced talks to acquire PAG's controlling stake, triggering fresh interest in the wealth manager amid a highly competitive bidding race. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Jane Street overhang lingers Financial Performance Tired of too many ads? Remove Ads Corporate History India's wealth market draws global eyes Shares of Nuvama Wealth Management climbed as much as 4.3% on Monday to Rs 7,574.60 on BSE, recouping some of Friday's losses after a Sebi order rattled investors. Fresh reports of a potential billion-dollar buyout by global private equity majors reignited interest in the equity giants CVC Capital Partners , Permira, and EQT are in advanced talks with Asia-focused investor PAG to acquire its controlling stake in Nuvama (formerly Edelweiss Wealth Management) in a deal potentially valued at $1.6 billion, according to a report in The Economic Times, citing people familiar with the matter. HSBC, Europe's largest bank by market value, is also in contention, making it a fiercely competitive bidding four shortlisted bidders submitted non-binding offers late last month and are currently conducting due diligence. Binding offers are expected by the end of July, although analysts believe this timeline may be difficult to owns a 54.78% stake in Nuvama, valued at Rs 14,383 crore as of Friday's close, out of the company's total market capitalisation of Rs 26,150.87 crore. Any deal resulting in a change of control will trigger an open offer for 26% of the shares held by minority Pincus is also said to have made a verbal indicative offer and is being considered as a fallback option. Meanwhile, domestic fund ChrysCapital is reportedly exploring a possible smaller deal or a consortium-based investment. 'Consortia are likely to get formed as the cheque size is expected to be large,' one of the people cited told The Economic stock fell 11% on Friday — its sharpest drop in three months — after India's securities regulator barred U.S.-based Jane Street from the domestic market over alleged index manipulation to extract large profits through derivatives trading. While SEBI did not name Nuvama in its 105-page interim order, the firm came under scrutiny due to its role as Jane Street's on-ground trading partner in India.'The Jane Street episode will be a one-time hit but will not have a structural impact,' an executive cited in The Economic Times report said. 'However, valuation may be impacted if the matter drags on.'Despite being cleared in an earlier NSE investigation that was closed in May, Nuvama's prior association with Jane Street triggered investor caution. The company had responded to NSE's queries as part of that Street is believed to be a major client of Nuvama's institutional services business, with some analysts estimating it accounts for up to 40% of revenue in that segment, although this figure could not be independently to Jefferies, the impact of SEBI's action is expected to be uneven across institutions. While BSE may see limited disruption, Nuvama could face a more significant reported a 58% year-on-year rise in profit after tax in FY25 and delivered a strong return on equity (ROE) of 31%. In the March quarter, asset services—including custody and settlement—accounted for 47% of revenue, while wealth management contributed 35%, with the remainder coming from equities and investment asset services division handled $14.7 billion in institutional assets in FY25, with revenue jumping 85% from FY24, according to company was listed in September 2023, following a demerger from Edelweiss Financial Services. Since its debut, the stock has rallied over 114%, including a 55% gain over the past had acquired control in March 2021 through a $325 million investment, and kicked off the sale process earlier this year, appointing JP Morgan and Morgan Stanley as advisers for the are eyeing Nuvama for its rapidly growing wealth management franchise in a fragmented Indian market, where only 15% of wealth is professionally managed, compared to 75% in developed markets. India's wealth management industry currently manages an estimated $130–160 billion of the country's total $1–1.2 trillion in to ICRA, Nuvama's key strengths include its diversified business model and strong financial performance, although the firm remains exposed to market volatility and reputational risks.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
07-07-2025
- Business
- Time of India
Nuvama shares rally 4% as $1.6 billion buyout buzz offsets Jane Street overhang
Shares of Nuvama Wealth rose 4.3% on Monday, recovering part of Friday's losses after a Sebi order, as reports of a potential $1.6 billion buyout lifted investor sentiment. Global private equity giants CVC, Permira, EQT, and HSBC are in advanced talks to acquire PAG's controlling stake, triggering fresh interest in the wealth manager amid a highly competitive bidding race. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Jane Street overhang lingers Financial Performance Tired of too many ads? Remove Ads Corporate History India's wealth market draws global eyes Shares of Nuvama Wealth Management climbed as much as 4.3% on Monday to Rs 7,574.60 on BSE, recouping some of Friday's losses after a Sebi order rattled investors. Fresh reports of a potential billion-dollar buyout by global private equity majors reignited interest in the equity giants CVC Capital Partners , Permira, and EQT are in advanced talks with Asia-focused investor PAG to acquire its controlling stake in Nuvama (formerly Edelweiss Wealth Management) in a deal potentially valued at $1.6 billion, according to a report in The Economic Times, citing people familiar with the matter. HSBC, Europe's largest bank by market value, is also in contention, making it a fiercely competitive bidding four shortlisted bidders submitted non-binding offers late last month and are currently conducting due diligence. Binding offers are expected by the end of July, although analysts believe this timeline may be difficult to owns a 54.78% stake in Nuvama, valued at Rs 14,383 crore as of Friday's close, out of the company's total market capitalisation of Rs 26,150.87 crore. Any deal resulting in a change of control will trigger an open offer for 26% of the shares held by minority Pincus is also said to have made a verbal indicative offer and is being considered as a fallback option. Meanwhile, domestic fund ChrysCapital is reportedly exploring a possible smaller deal or a consortium-based investment. 'Consortia are likely to get formed as the cheque size is expected to be large,' one of the people cited told The Economic stock fell 11% on Friday — its sharpest drop in three months — after India's securities regulator barred U.S.-based Jane Street from the domestic market over alleged index manipulation to extract large profits through derivatives trading. While SEBI did not name Nuvama in its 105-page interim order, the firm came under scrutiny due to its role as Jane Street's on-ground trading partner in India.'The Jane Street episode will be a one-time hit but will not have a structural impact,' an executive cited in The Economic Times report said. 'However, valuation may be impacted if the matter drags on.'Despite being cleared in an earlier NSE investigation that was closed in May, Nuvama's prior association with Jane Street triggered investor caution. The company had responded to NSE's queries as part of that Street is believed to be a major client of Nuvama's institutional services business, with some analysts estimating it accounts for up to 40% of revenue in that segment, although this figure could not be independently to Jefferies, the impact of SEBI's action is expected to be uneven across institutions. While BSE may see limited disruption, Nuvama could face a more significant reported a 58% year-on-year rise in profit after tax in FY25 and delivered a strong return on equity (ROE) of 31%. In the March quarter, asset services—including custody and settlement—accounted for 47% of revenue, while wealth management contributed 35%, with the remainder coming from equities and investment asset services division handled $14.7 billion in institutional assets in FY25, with revenue jumping 85% from FY24, according to company was listed in September 2023, following a demerger from Edelweiss Financial Services. Since its debut, the stock has rallied over 114%, including a 55% gain over the past had acquired control in March 2021 through a $325 million investment, and kicked off the sale process earlier this year, appointing JP Morgan and Morgan Stanley as advisers for the are eyeing Nuvama for its rapidly growing wealth management franchise in a fragmented Indian market, where only 15% of wealth is professionally managed, compared to 75% in developed markets. India's wealth management industry currently manages an estimated $130–160 billion of the country's total $1–1.2 trillion in to ICRA, Nuvama's key strengths include its diversified business model and strong financial performance, although the firm remains exposed to market volatility and reputational risks.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Yahoo
13-06-2025
- Business
- Yahoo
Private equity co-CEO: It's a 'hard selling environment' for deals and capital raising
Listen, like, and subscribe to Opening Bid on Apple Podcasts, Spotify, Amazon Music, YouTube, or wherever you find your favorite podcasts. The private equity industry hasn't been immune to the long arm of the Trump administration's policy uncertainty. The volatility is leading to a cooling IPO and M&A market. A key question for the power brokers involved: When will deal activity and exits get back to a normal rhythm? "In general, the industry has seen fewer distributions in a very hard selling environment across the board for the industry. And so LPs [limited partners] are seeing less returns, less cash coming in that they could then commit on the way out," Permira co-CEO Brian Ruder said on a new episode of Yahoo Finance's Opening Bid podcast (watch above; listen-only below). This embedded content is not available in your region. Since its 1985 founding, Permira has put more than $80 billion of capital to work, with a specialty in the consumer and technology spaces. Some of its most headline-grabbing plays have been an early stake in buy now, pay later platform Klarna in 2015 and a deal last year to purchase Squarespace for $6.9 billion. The company boasts 80 companies in its investment portfolio. Ruder, who has been at the firm for more than 16 years, became co-CEO of Permira alongside Dipan Patel in September 2024. The two are managing through a soft stretch for the PE industry. The value of global buyout deals in the second quarter of 2025 is poised to drop by 16% compared to the first quarter, according to a new report from consultancy Bain & Company. For the first time in a decade, no buyout fund closed in the first quarter raised more than $5 billion, the report found. Yahoo Finance's Invest conference is coming soon — register here Across alternative asset classes, demand for capital is now triple the supply, making it the largest imbalance dating back to 2011. "Tariff turbulence has shaken the world, but it hasn't broken the private equity market. However, the pressure within the industry — to find exits, distribute funds, source fresh capital, and then put it to work — continues to mount," Bain & Company's Hugh MacArthur said. Ruder added that the allure of IPOs has also simmered down, stunting the exit process for PE players. "I think there is a lot more realism we find in the private markets and kind of the later-stage growth companies of just how burdensome it is to be a public company," Ruder explained. "It's the regulatory disclosure requirements. It's really a shareholder base that can be very impatient. I mean, despite the reputation of private investors being very detail-oriented and kind of in your face, it's very hard to achieve the kind of transformations that we can achieve in the private market within the public market." Three times each week, Yahoo Finance Executive Editor Brian Sozzi fields insight-filled conversations and chats with the biggest names in business and markets on Opening Bid. You can find more episodes on our video hub or watch on your preferred streaming service. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
