Breakingviews
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Peter Weinberg, head of advisory at Perella Weinberg Partners, speaks during a Reuters Breakingviews panel in New York, U.S. January 10, 2017. REUTERS/Lucas Jackson
NEW YORK (Reuters Breakingviews) - Perella Weinberg is injecting some financial sense into one of the hottest market trends. The advisory firm founded by Joseph Perella, Peter Weinberg and Terry Meguid has registered a $977 million valuation in a deal to sell itself to a special-purpose acquisition company. It is a sensible price for a real business in a competitive market.
The firm’s 60-odd partners made their careers doling out advice to companies like cruise-liner operator Royal Caribbean and private equity giant KKR. The boutique firm, with a 15 year track record, brought in $533 million of revenue in 2019, posting a compound annual growth rate of 15% on average over the three years prior. On an adjusted basis, Perella Weinberg actually makes a profit, too.
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ATHENS (Reuters) - Greece intends to borrow 10 billion to 12 billion euros ($14.60 billion) by issuing short-term and long-term debt in 2021, about the same amount as this year, in a bid to ensure its continual presence in debt markets, two government sources told Reuters on Tuesday.
The country issued seven-, 10-, and 15-year government bonds this year, raising a total of 12 billion euros and benefiting from ultra-low interest rates spurred by the asset-purchase programme of the European Central Bank.
“We want to raise about 10-12 billion euros in 2021, with new bond issues that will have maturities shorter and longer than 10 years,” a government official with knowledge of the matter told Reuters.
U.S. President-elect Joe Biden's administration will continue to recognize Venezuelan opposition leader Juan Guaido as the South American country's president, Anthony Blinken, Biden's nominee for secretary of state, said on Tuesday.
Investors bullish after Yellen supports big spending White House power transition seen smooth, underpinning mood
TOKYO, Jan 20 (Reuters) - Asian shares climbed to a record high on Wednesday as U.S. Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package to help the world’s largest economy ride out a pandemic-driven slump.
At her confirmation hearing on Tuesday, she said the benefits of a big stimulus package are greater than the expenses of a higher debt burden.
U.S. President-elect Joe Biden, who will be sworn into office on Wednesday, last week laid out a $1.9 trillion stimulus package proposal to boost the economy and speed up the distribution of vaccines.
Bahrain is expected to raise $2 billion in a three-tranche bond sale on Wednesday, a document showed, as it seeks to plug a fiscal deficit exacerbated by the pandemic and low oil prices.