Investing: Not so self assured
The loss of Guy Hands’ lawsuit against Citi over his purchase of EMI has become a case study in the rise and fall of big banks and buy-out empires alike
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Tempting as it is to single out Wall Street and to narrow a tax loophole widely employed on Wall Street, it is not justified, writes John Gapper
Public-company model worse than private equity
If public company incentives are seriously flawed, might it not be worth revisiting the idea of rewarding executives with stock?
Revolving door leaves investors dizzy
Critics characterise ‘pass-the-parcel’ deals as short cuts and easy buy-outs
Flowers’ problem in making mutual friends
Consolidation of medium-sized British building societies– starting with Kent Reliance – poses regulatory, administrative and governance challenges
China: To the money born
Private equity could be pivotal in modernising the economy but the dominance of senior officials’ children is a potential financial drag and risks arousing anger
Hands in the dock
Lax regulation allowed publicly insured banks to make unwise leveraged loans while being ensnared in conflicts of interest. Hopefully, Guy Hands’ battle over EMI will highlight this problem
Dealing with the squeeze
FT series
In a five-part series, the FT looks at how buy-out firms are finding new ways to put their capital to work, one year on from the start of the credit squeeze
Investors critical of stakebuilding
When 3i floated its £400m Quoted Private Equity investment company in June 2007, some observers saw it as a poorly timed move
Concern over debt purchases
TPG’s profit on its share of Alltel’s debt illustrates a potential conflict of interest when private equity groups purchase debt at discounted prices in buy-out deals
Escaping the financial lock of bolt-ons
The Emap acquisition by Apax Partners and GMG highlights the difficulties of pursuing a buy-and-build strategy
Reward is worth risk for emerging market gurus
Western private equity executives monitor the situation in South Ossetia with particular concern after a $2.7bn spending spree in Russia
Perfect partners find matches blocked
Buy-out bosses say there are political and financial obstacles to investing in the financial services sector
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