Investment giant Pimco strengthens municipal bond arm with Gurtin acquisition October 3, 2018 US asset management giant Pimco has bought muni bond investment firm Gurtin, its first acquisition since appointing new chief executive Emmanuel Roman. Gurtin Municipal Bond Management has more than $14bn (£10.78bn) of assets under management and the combined business will manage $38bn in dedicated municipal bond assets. Read more: Pimco hires ex-Blackstone vice chair John Studzinski It is the first [...]
Blackstone challenges Bloomberg with deal for $20bn Thomson Reuters arm October 2, 2018 Private equity giant Blackstone has completed its biggest investment since the 2008 financial crisis by taking over Thomson Reuters' financial and risk unit. The deal, which values the business at around $20bn (£15.5bn), sees the Blackstone-led consortium of private equity funds take a 55 per cent stake. Thomson Reuters keeps 45 per cent of the business, [...]
City banker nabbed for M&A role at $320bn Qatari state fund October 2, 2018 Qatar’s largest sovereign wealth fund has grabbed a top City of London banker to run its deal-related activities worldwide, as it moves to expand a $320bn (£246.6bn) portfolio that includes the single-largest stake in supermarket Sainsbury’s, Sky News reported. Sky said Ken McLaren, currently a managing director at Bank of America Merrill Lynch (BAML), will [...]
Corporate services firm Hawksford opens new London office October 1, 2018 Corporate services firm Hawksford has launched a new London office following the acquisition of audit and accountancy practice SH Landes. The New Oxford Street office, which will be led by Steven Landes, demonstrates confidence in London as a global centre for international finance, the company said. Read more: We found dogs and ice cream rotas in [...]
Planet Organic prepares for expansion drive after fund takeover October 1, 2018 Scottish private equity firm Inverleith has taken a majority stake in London-based retailer Planet Organic, unveiling plans to double the organic supermarket’s store count over the next five years. Inverleith has made an equity investment into the company, which currently has seven stores in London, to grow its footprint. Planet Organic, the UK’s largest fully-certified [...]
Gordon Dadds to merge with Ince & Co creating UK’s largest listed law firm September 26, 2018 London law firm Gordon Dadds is in advanced talks to merge with international practice Ince & Co in an acquisition that would create the largest listed law firm in the UK, City A.M. can reveal. The merger will create a business with a combined revenue of more than £114m and 14 offices across the world. Gordon [...]
Radio giant Sirius acquires Pandora Media in $3.5bn deal September 24, 2018 Two US companies are set to create the world’s largest audio entertainment business after radio giant SiriusXM announced it will pay $3.5bn (£2.7bn) for streaming service Pandora Media. The all-share deal, which will be finalised in the first half of next year, will create a $7bn entity. Shares in the target rose 18.4 per cent to $10.75 [...]
BBC weather forecaster Meteo Group acquired by Swiss private equity company TBG AG September 24, 2018 BBC weather forecaster Meteo Group has been bought by Swiss private equity company TBG AG. The agency has the largest private weather measurement network in Europe, and offers solutions for industries including shipping, transport, media, energy and insurance. Read more: Online retail to be Next's summertime saviour as hot weather boosts sales Year-to-date bookings grew by [...]
Numis founder Oliver Hemsley seals £20m deal to take control of Nex Exchange September 23, 2018 Numis founder Oliver Hemsley has secured a £20m deal to take control of stock exchange challenger Nex Exchange. Hemsley will invest £10.5m in the business for a 55 per cent stake, with a view to eventually take full control and transform it into a credible rival to London's Alternative Investment Market (AIM). Read more: Competition watchdog launches inquiry into CME [...]
Investors think UK will remain attractive as an investment destination post-Brexit September 19, 2018 Investors think the UK will remain as attractive as an investment destination post-Brexit as it was before the referendum on EU membership. Eighty eight per cent of respondents to a survey of business executives said the UK remains at least as attractive as it was in spring 2016, while 32 per cent say it is [...]