Private Equity
The Carried Interest Loophole Survives Another Political Battle
WASHINGTON — Once again, carried interest carried the day. The last-minute removal by Senate Democrats of a provision in the climate and tax legislation that would narrow what is often referred to as the “carried interest loophole” represents the latest win for the private equity and hedge fund industries. For years, those businesses have successfully […]
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A Warren Buffett Protégée Strikes Out on Her Own
By 15, Ms. Britt Cool was president of the local farmers’ market, collecting dues from dozens of vendors. She also recruited several of her friends from high school to work at the market, where she increased the farm stand’s weekly sales about fivefold to $2,500. With her savings, she bought a red Ford Mustang convertible, […]
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Even Among Corporate Raiders, Elon Musk Is a Pirate
The history of mergers and acquisitions is filled with ruthless corporate raiders, bruising wars of words and people trying to stiff each other. T. Boone Pickens, the oil tycoon who rampaged through the 1980s, took small stakes in energy companies, attacked management and forced sales of the firms. Carl Icahn, the activist investor, amassed shares […]
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Can Elon Musk Make Twitter’s Numbers Work?
Still, the interest rates on the loans reflect the risk that they might not get paid back. The banks don’t hold on to the loans but sell them to other investors in the market, so if Twitter can’t pay its debts, Mr. Musk will either have to pay those investors, perhaps by selling more Tesla […]
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Elon Musk Races to Secure Financing for Twitter Bid
Elon Musk is racing to secure funding for his $43 billion bid to buy Twitter. Morgan Stanley, the investment bank working with Mr. Musk on the potential deal, has been calling banks and other potential investors to shore up financing for the offer, four people with knowledge of the situation said. Mr. Musk is first […]
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Apollo Said to Be Weighing Participating in Twitter Bid
The private equity firm Apollo Global Management is considering participating in a bid for Twitter by offering debt financing to potential buyers, including the Tesla chief executive Elon Musk, according to a person with knowledge of the situation. No decisions have yet been made, said the person, who requested anonymity because the talks were confidential. […]
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How Roman Abramovich Used Shell Companies and Wall Street Ties to Invest in the U.S.
In July 2012, a shell company registered in the British Virgin Islands wired $20 million to an investment vehicle in the Cayman Islands that was controlled by a large American hedge fund firm. The wire transfer was the culmination of months of work by a small army of handlers and enablers in the United States, […]
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Private Equity Is the New Financial Supermarket
Three decades ago, Jonathan Gray might have been an unlikely candidate to become Blackstone’s president and expected successor to its chief executive, Stephen A. Schwarzman. Very little of Mr. Gray’s career at the private equity firm has involved leveraged buyouts — the aggressive deals, often involving large amounts of borrowed money and steep cost-cutting, that […]
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Seeking Backers for New Fund, Jared Kushner Turns to Middle East
That spring, only a few months later, Mr. Kushner successfully pushed for his father-in-law to make his first international trip to a summit in Riyadh, the Saudi capital, where the president was photographed participating in a traditional sword dance. Around the same time, Mr. Kushner personally helped negotiate a 10-year agreement for Saudi Arabia to […]
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