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POPSBlackstone Profit Lower, Financing Still Difficult Second-quarter earnings plunged to $99.9 million, after taxes but before noncash charges for vesting equity-based compensation and amortization of intangible assets, from $735.6 million a year earlier. In the first quarter of 2008, it lost $93.6 million.
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POPSThe Blockbuster Deal Is Back How far away they went is illustrated by these stats: No. of deals done so far this year: 1,362 Value: $278.43 billion; last year, 2,000 worth $659.99 billion.
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POPSApple and the Five Forces This eclectic blog has strayed from its usual private equity domain but its analysis of Apple's understanding and application of supplier power is an engaging if lengthy read.
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POPSSay Hello To Synthetic CLOs Cashflow based collateralized loan obligations, which pool portfolios of leveraged loans have been around for some time, but synthetics, which are based on derivatives linked to the default likelihood of loans, are new and intended to offer a play on depressed credit markets.
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POPSChina Launches State Invesment Agency It will be one of the world's largest state investment agencies from the outset. Despite being formally launched this weekend, it made its first investment -- a $3 billion stake in Blackstone Group -- in May.
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POPSCredit Suisse Is A Bond Victim So far it has been financial firms' mortgage units that have taken the pink slips as a result of the sub-prime mortgage meltdown. This may be a sign of what's to come in other divisions
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POPSA Coming Change To LBO Rules In Europe Lex points out that the U.K. is about to toughen its rules on a bidder's ability to use the target company's capital to finance the acquisition debt of a leveraged buyout and that the European Union is about to relax its restrictions. Net result: relatively more LBOs in France and Germany; fewer in the U.K.
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POPSAnother Sign Of The PE Peak? This artivcle poins out that the fees are a third higher than at this time last year and represent a fifth of all investment banking revenue in the year-to-date.