(Bloomberg) Private equity firms are struggling to get cash back into the hands of their fund investors amid a prolonged lull in dealmaking. They aren’t having that problem with shareholders.Most Read from BloombergMusk Says Putin Can’t Lose in Ukraine, Opposes Senate BillMarkets Jolted as Fed’s ‘Last Mile’ Looks Elusive: Markets WrapPutin Seeks Revenge on a World Order He Once Wanted to JoinRetail Traders Are Losing Billions in India’s Booming Options MarketStandard Chartered Weighs Breaking
Carlyle Group said on Wednesday its fourth-quarter distributable earnings fell 7% year-on-year, as it sold fewer assets from its private equity portfolio. Carlyle said its net profit from asset sales fell nearly 44% to $257.7 million, as market volatility, high interest rates and geopolitical tensions weighed on its ability to cash out investments. "It was a record year for Carlyle and we're building that momentum into 2024," Carlyle Chief Executive Harvey Schwartz said during a conference call with journalists.
(Bloomberg) The chief investor for Australia’s biggest pension fund said the best time to deploy private capital is precisely when funds are struggling to raise money. Most Read from BloombergBlinken’s Return From Davos Was Delayed After Plane Broke DownPakistan’s Army Strikes Back at Iran as Both Sides Urge CalmApple to Sell Watches Without Oxygen Feature After Legal SetbackAirstrikes on Yemen Bring New Level of Chaos to Shipping in the Southern Red SeaNasdaq 100 Hits Record High in Tech-Fue
Tesco’s former chief executive Sir Dave Lewis has joined the private equity owner of Morrisons, as the supermarket giant battles to regain market share.