Latest news with #Apollo
Bloomberg
an hour ago
- Business
- Bloomberg
Cliff Asness Says Retail Push for Private Assets Is a ‘Terrible' Idea
Welcome to ETF IQ, a weekly newsletter dedicated to the $14 trillion global ETF industry. I'm Bloomberg News reporter and anchor Katie Greifeld. It's clear that private market titans like Apollo, KKR and Blackstone have their sights set on individual investors and retirement plans. It's a familiar pitch: private assets offer diversification and potentially higher returns. And as more companies delay going public, retail investors should be able to own them, too.
RTÉ News
4 hours ago
- Business
- RTÉ News
Apollo to fund £4.5 billion for Hinkley Point nuclear project
US private equity group Apollo Global will provide £4.5 billion in financing to support Britain's long-delayed Hinkley Point nuclear project, the Financial Times reported today, citing people familiar with the matter. The project, controlled and financed by French power giant EDF, is Britain's first new nuclear plant in more than two decades as London seeks to replace its ageing fleet to boost energy security, reach climate targets and create new jobs. Apollo declined to comment on the FT report, while Britain's energy department, and EDF - which runs Europe's largest nuclear fleet - did not immediately respond to Reuters requests for comment. The Hinkley project has had several delays and cost overruns, especially after China General Nuclear Power Group pulled out in 2023. It is currently expected to start operations in 2029, with an estimated cost of between £31 billion and £34 billion at 2015 prices. Apollo's funding is expected to be provided as unsecured debt at an interest rate of just under 7%, the report said, adding that it could be used for other projects by EDF, but Hinkley Point was expected to be the primary target for the package. The UK government last week said it would invest a further £14.2 billion to build the Sizewell C nuclear plant in southeast England, a second major new nuclear project for the country.
Yahoo
6 hours ago
- Science
- Yahoo
It's Official: Scientists Confirmed What's Inside Our Moon
Well, the verdict is in. The Moon is not made of green cheese after all. A thorough investigation published in May 2023 found that the inner core of the Moon is, in fact, a solid ball with a density similar to that of iron. This, researchers hope, will help settle a long debate about whether the Moon's inner heart is solid or molten, and lead to a more accurate understanding of the Moon's history – and, by extension, that of the Solar System. "Our results," wrote a team led by astronomer Arthur Briaud of the French National Centre for Scientific Research in France, "question the evolution of the Moon magnetic field thanks to its demonstration of the existence of the inner core and support a global mantle overturn scenario that brings substantial insights on the timeline of the lunar bombardment in the first billion years of the Solar System." Watch the video below for a summary on what they found: Probing the interior composition of objects in the Solar System is most effectively accomplished through seismic data. The way acoustic waves generated by quakes move through and reflect from material inside a planet or moon can help scientists create a detailed map of the object's interior. We happen to have lunar seismic data collected by the Apollo mission, but its resolution is too low to accurately determine the inner core's state. We know there is a fluid outer core, but what it encompasses remains under debate. Models of a solid inner core and an entirely fluid core work equally well with the Apollo data. To figure it out once and for all, Briaud and his colleagues collected data from space missions and lunar laser-ranging experiments to compile a profile of various lunar characteristics. These include the degree of its deformation by its gravitational interaction with Earth, the variation in its distance from Earth, and its density. Next, they conducted modeling with various core types to find which matched most closely with the observational data. They made several interesting findings. Firstly, the models that most closely resembled what we know about the Moon describe active overturn deep inside the lunar mantle. This means that denser material inside the Moon falls towards the center, and less dense material rises upwards. This activity has long been proposed as a way of explaining the presence of certain elements in volcanic regions of the Moon. The team's research adds another point in the "for" tally of evidence. And they found that the lunar core is very similar to that of Earth – with an outer fluid layer and a solid inner core. According to their modeling, the outer core has a radius of about 362 kilometers (225 miles), and the inner core has a radius of about 258 kilometers (160 miles). That's about 15 percent of the entire radius of the Moon. The inner core, the team found, also has a density of about 7,822 kilograms per cubic meter. That's very close to the density of iron. Curiously, in 2011 a team led by NASA Marshall planetary scientist Renee Weber found a similar result using what were then state-of-the-art seismological techniques on Apollo data to study the lunar core. They found evidence of a solid inner core with a radius of about 240 kilometers, and a density of about 8,000 kilograms per cubic meter. Their results, Briaud and his team say, are confirmation of those earlier findings, and constitute a pretty strong case for an Earth-like lunar core. And this has some interesting implications for the Moon's evolution. We know that not long after it formed, the Moon had a powerful magnetic field, which started to decline about 3.2 billion years ago. Such a magnetic field is generated by motion and convection in the core, so what the lunar core is made of is deeply relevant to how and why the magnetic field disappeared. Given humanity's hope to return to the Moon in relatively short order, perhaps we won't have long to wait for seismic verification of these findings. The research has been published in Nature. A version of this article was first published in May 2023. Jaw-Dropping Explosions on The Sun Captured in First NASA PUNCH Images SpaceX Starship Explodes in Towering Fireball Astronomers Uncover a Massive Shaft of Missing Matter
India.com
15 hours ago
- Health
- India.com
Meet 92-year-old man who owns 71 hospitals, 5000 pharmacy outlets, still goes to office daily... Telugu superstar Ram Charan is his..., name is...
You can hardly take a stroll around town and not see the familiar sight of Apollo Pharmacies. Being a 24/7 operation, it has become the go-to place for everything from prescription medicines to personal care items such as shampoos, soaps, and cosmetics. But behind this omnipresence is an inspiring story. Interested in learning about how Apollo began and became a health care behemoth? Here is a glimpse into its journey. Dr. Prathap C. Reddy is the founder of India's largest hospital network, and his incredible work ethic and vision have thoroughly transformed the healthcare system of our country. At the age of 92, he is still following a regimen- he goes to his office every day at 10:00 am, and works until 5:00 pm and does this six days a week. To see his dedication, energy, and lifestyle at that age is astonishing and inspires people, demonstrating that there is no limit on passion and dedication. As an embodiment of his vision of world-class healthcare services in India, Dr. Prathap C. Reddy founded Apollo Hospitals in Chennai in 1983, and it was an audacious step in a country with hardly any private healthcare. Apollo Hospitals became a bastion for leading doctors and specialists from many prestigious hospitals in the US and UK, as well as non-resident Indian (NRI) specialists. In 1979, Dr. Prathap C. Reddy was upset by the death of a cardiac patient who was unable to have surgery because he did not have the resources to afford the necessary treatment abroad. This moment became a touchstone for Dr. Reddy. With a strong resolve to transform the system, he took the opportunity to establish Apollo Hospitals in Chennai. With backing from the government and the then Prime Minister, Indira Gandhi, he established Apollo Hospitals in Chennai. This visionary step was a game-changer, bringing world-class cardiac care and comprehensive medical services to India. Recognized and revered globally, Dr. Prathap C Reddy was honoured with the 'Padma Vibhushan,' India's second-highest civilian award, for his unwavering pursuit of excellence in healthcare. His biography, 'Healer: Dr. Prathap Chandra Reddy and the Transformation of India,' serves as a testament to his incredible journey of healing and caring, inspiring generations to come.
Yahoo
a day ago
- Business
- Yahoo
Barbarians no more: Private equity is giant now, and a bit boring
When Blackstone went public this week in 2007, Tom Wolfe, author of was on hand at the New York Stock Exchange. He told CNBC the private equity firm's move to the public markets might spell 'the end of capitalism as we know it.' It didn't. But looking back, it marked the end of private equity as we knew it. Going public changed Blackstone and the rivals that followed it: KKR in 2010, then Apollo, Carlyle, and Ares. It served as notice of the end of the industry's wildcatter days and ushered in the current era of haves and have-nots, a widening gap that threatens to wash out thousands of players over the next decade. Blackstone and its ilk were not overnight successes as listed companies. Their stock prices languished as shareholders rightly assumed that they sat low on executives' list of priorities, and behind fund investors and employees. But over the past decade, these firms reoriented themselves around their stock price, likely because their executives now own a lot of it. They dissolved lucrative but strange partnership structures that had kept their shares out of the S&P 500 index — Blackstone was the first to be admitted, in 2023 — and began emphasizing the steady fees they clip from managing money, rather than the lumpy profits they get from managing it . They invented a financial metric from whole cloth, 'fee-related earnings,' and trained public stockholders to like it. Once they had, the incentives were to manage more and more money. Today's listed firms are asset-gathering machines. They are still, for the most part, good investors, but their value is increasingly in their size and scope, not their dealmaking savvy. Blackstone hit $1 trillion in client assets and has its sights on $2 trillion. KKR is targeting $1 trillion by 2030, in what looks like a conservative bogey. Corporate buyouts are a shrinking slice of their businesses, dwarfed by fast-growing lending, insurance, real estate, and infrastructure arms. 'Going public was the beginning of the idea that these firms are real businesses,' Joshua Ford Bonnie, who, as a second-year partner at Simpson Thacher & Bartlett, led the Blackstone IPO and others that followed. 'It wasn't just 'what are the economics from this fund?' but rather 'how am I growing this institution?' 'The underlying economic forces have been at their backs, too,' he said, noting the decline of stock-picking mutual funds and the post-2008 regulatory changes that hobbled banks. Bonnie still sees space in the public markets for smaller, niche managers, though a bit of business development hustle is probably at work there. But when you talk to industry executives these days, you don't hear much about deals. They talk about products (evergreen funds!), distribution (retail!), and the virtues of financial superstores. David Layton, the Partners Group CEO, captured this shift when he predicted that the roughly 11,000 existing private investment firms could shrink to 100 'next-generation platforms' over the next decade. TPG, the last of the original buyout giants to go public, did so in 2022 with a promise to branch out that it quickly met, buying credit manager Angelo Gordon. I doubt it could today. Even its $220 billion in assets and growing list of 'platforms' — there's that word again — make it undersized, a sign of just how dramatically the industry has changed. Case in point: HPS tried to go public with more than $100 billion in a single business line and couldn't, at least not at the valuation it wanted. It sold itself instead to BlackRock, the index fund giant that is building its own investing superstore in alternatives. 'Where are the customers' yachts?' asks the classic finance book, which notes that asset managers tend to make money for themselves whether or not they make money for their clients. The buyout buccaneers of the 1980s were their own clients, bootstrapping their corporate takeovers until their sky-high returns lured in outside money. That transformation is now complete. The barbarians at the gates are just asset managers now — big, and a bit boring. It wasn't, as Wolfe predicted, the end of capitalism, but the end of a certain flavor of it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
