Latest news with #GeneralAtlantic
Reuters
4 days ago
- Business
- Reuters
Actis sees growing investors interest in sustainable infrastructure in emerging regions
SINGAPORE, June 17 (Reuters) - Actis, a London-based global infrastructure investor, sees growing intra-trade among growth markets and increased investor interest in sustainable infrastructure projects, as global capital reallocates from some overexposure in developed markets such as in the U.S. to emerging regions, its chairman told Reuters. Global economic activity is increasingly focused on regions such as Asia and Latin America, driven by huge population growth and strong demand for energy amid a boom in digital infrastructure, Torbjorn Caesar, who is Actis' senior partner, said in an interview on Monday in Singapore. Actis is seeking to tap growth by focusing on investments in the electricity sector, such as renewable assets like solar, wind and hybrid projects that combine with battery storage, he said. It is also investing in infrastructure comprising transmission lines and data centers, he added. WHY IT'S IMPORTANT: Global markets have experienced swings in the initial few months of U.S President Donald Trump's administration as its April 2 move to increase tariffs on trading partners prompted some investors to move away from American assets. Although volatility has eased somewhat, some investors warn the threat of tariff disruptions is not going away anytime soon. CONTEXT: In May, Actis announced that it raised $1.7 billion for its second long life infrastructure fund. In October last year, General Atlantic completed the acquisition of Actis. The combination expanded General Atlantic's assets under management to $108 billion, according to a latest press release earlier in June. KEY QUOTES: "The need for electricity is massive. If you're looking in at the markets in, what we refer to as 'most of the world' across Latin America or Middle East, Eastern Europe, Asia, it's not so much talk about energy transition, and of course that is important, but it's also energy addition, because the electricity demand is growing over time. It is growing with economic activity, growth with the demographics, in terms of the population growth, there's a massive need for new electricity," Caesar said.
Yahoo
5 days ago
- Business
- Yahoo
Carlyle Announces Partnership With Citigroup on Asset-Backed Lending
Carlyle Group Inc. CG has announced a collaboration with Citigroup Inc. C to expand asset-backed financing opportunities within the fintech specialty lending space. Both companies have formalized a framework to exchange market intelligence and explore co-investment and financing opportunities to align strategic objectives and deepen integration. The collaboration will integrate Carlyle's extensive investment network with the expertise of Citigroup's Spread Products Investment in Technologies (SPRINT) team, a leading venture equity investor in fintech specialty lending. Akhil Bansal, head of asset-backed finance at Carlyle, stated that 'Demand for scalable and tailored asset-backed financing solutions from fintech lenders has increased as they mature and seek efficient ways to fund their growth.' Bansal further added that, 'By combining our deep credit and structuring expertise with Citi's leading presence in the fintech investment landscape, we're well-positioned to capture emerging opportunities and support the next generation of financial technology leaders.' On the other hand, Rajiv Amlani, head of Private Markets Coverage at Citigroup, further added that 'This collaboration leverages the best of both our firms. Through the scale of our franchise, we are uniquely positioned to unlock opportunities by bringing the dynamism of innovative tech platforms to an established global leader such as Carlyle.' Over the past three months, shares of Carlyle have risen 9% compared with the industry's growth of 1.1%. Image Source: Zacks Investment Research Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Last month, State Street Corporation's STT asset management arm, State Street Global Advisors ('SSGA'), entered a strategic alliance with smallcase. The alliance aims to expand global market access for Indian investors and enhance SSGA's presence in India's fintech sector. The partnership will provide STT's arm with a distribution opportunity for its SPDR ETFs by featuring them on smallcase's platform technology. This will enhance SSGA's global investment accessibility for Indian investors through technology-driven solutions. Similarly, in the same month, UBS Group AG UBS entered a strategic partnership with General Atlantic, a US-based investment firm, to focus on private credit opportunities. The collaboration between UBS and General Atlantic aims to expand the access of investing clients and borrowers to a broader range of direct lending and other credit products. By combining UBS's advisory and investment banking origination capabilities with General Atlantic's extensive global network, the partnership will create compelling private credit solutions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report UBS Group AG (UBS) : Free Stock Analysis Report State Street Corporation (STT) : Free Stock Analysis Report Carlyle Group Inc. (CG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
5 days ago
- Business
- Yahoo
US Bancorp Partners With Fiserv to Expand Digital Agent Card Issuance
U.S. Bancorp USB has entered a partnership with Fiserv FI to integrate its Elan Financial Services credit card program into Fiserv's Credit Choice solution. The collaboration aims to enhance digital card issuance capabilities, providing financial institutions with a seamless, integrated experience. The integration of Elan's credit card program into Fiserv's Credit Choice solution strengthens USB's digital-first strategy. This integration will enable consumers and small businesses to access both debit and credit card account details within a unified digital platform for consumers and small businesses. This will create a better user experience, allowing customers to manage both types of cards in one place. Peter Klukken, head of credit card issuing for Elan Financial Services, stated that, 'Integrating an agent card into the client financial institution banking application is truly groundbreaking,'. Klukken further added that 'We're excited about this relationship and look forward to offering a new, seamlessly integrated technology experience to even more banks and credit unions.' The collaboration is set to accelerate this summer, with USB leveraging Fiserv's innovative, integrated technology infrastructure and aiming for full conversion of the portfolio, expected by the end of 2025. Fiserv will provide ongoing support, training, and engagement while bringing new financial institutions into Credit Choice. The improved Credit Choice program will be accessible to U.S. banks and credit unions through Fiserv. Users will benefit from Elan's agent-issuing capabilities, and digital card solutions will be integrated in the first half of 2026. Shares of USB have gained 3.1% in the past three months compared with the industry's growth of 0.6%. Image Source: Zacks Investment Research At present, USB carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. In May 2025, UBS Group AG UBS entered a strategic partnership with General Atlantic, a US-based investment firm, to focus on private credit opportunities. The collaboration between UBS and General Atlantic aims to expand the access of investing clients and borrowers to a broader range of direct lending and other credit products. By combining UBS's advisory and investment banking origination capabilities with General Atlantic's extensive global network, the partnership will create compelling private credit solutions. Likewise, in October 2024, Citigroup, Inc. C entered a multi-year agreement with Google Cloud, which is intended to support C's digital strategy through cloud technology and artificial intelligence (AI). This collaboration aims to modernize Citigroup's technological infrastructure and improve employee and client experiences via cloud-based apps. Through collaboration, Citigroup will transition different workloads and apps to Google Cloud's safe and scalable infrastructure. C will be able to deliver superior digital goods, expedite staff workflows, and run high-performance computing (HPC) and analytics platforms after updating its technology infrastructure on Google Cloud. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report UBS Group AG (UBS) : Free Stock Analysis Report U.S. Bancorp (USB) : Free Stock Analysis Report Fiserv, Inc. (FI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Connectez-vous pour accéder à votre portefeuille
Yahoo
6 days ago
- Business
- Yahoo
Wall Street is on the cusp of ending the dumbest recruiting cycle known to man, and we all could stand to benefit from it
JPMorgan and Apollo took steps to delay the early recruitment of junior bankers. The move challenges the traditional recruiting cycle for entry-level PE jobs. If successful, the switch would shake up the entire industry and benefit people outside PE. They were the shots heard round Murray Hill. Recent announcements by JPMorgan and Apollo aimed at slowing down the early recruitment of junior bankers have sent young Wall Streeters into a frenzy. First, JPMorgan threatened termination for first-year analysts accepting future-dated private-equity jobs. Then, private-equity firm Apollo delayed recruiting young bankers. Not long after, Business Insider was first to report that PE giant General Atlantic told young bankers it's also pumping the brakes. The entire episode is still unfolding, but it risks upending years of planning by people pursuing one of the most sought-after careers in finance. And the end result could be PE firms pulling from a much bigger pool of talent as opposed to the select few who zeroed in on nabbing a job in the industry years ago. The news isn't just important for your Wall Street buddy who played lacrosse in college, though. Upending the well-worn practice of PE recruiting could ultimately impact all of us. And it's not a bad thing. Understanding the magnitude of JPMorgan's and Apollo's announcements is realizing the effort it takes to get a job in PE. Imagine you have a big test on Monday. While most of your classmates spent the weekend partying, you buckle down and hit the books so you're fully prepared. But when Monday comes your teacher postpones the test so everyone else can study more. That doesn't negate the work you did, but it definitely stings a bit. Now imagine it's not a test but the chance at a job with a base salary upwards of $150,000 that you spent years, not just a weekend, getting ready for. Starting to get the idea? Still, you might be asking yourself: Why do I care about changes to PE recruitment? (To be fair, you clicked the link, but I'll allow it.) The truth is, this impacts more people than just those who consider a Friday night at Hair of the Dog a good time. Private-equity's reach is immense, and it's only set to get bigger. At the end of last year, PE firms had $1.2 trillion in global buyout dry powder, according to Bain & Company. That's a lot of cash ready to be put to work when dealmaking takes off. The industry is also evolving beyond the typical PE strategies we're used to, like bundling up smaller companies. Firms are becoming big lenders, often beating regulator-constrained banks at their own game. (Whether that's a good or bad thing remains to be seen. But that's a conversation for another day.) In short, it's a PE-backed world, and we're all just living in it. Working off the premise that private equity remains an unavoidable part of our future, the industry's hiring tactics, even at the junior level, suddenly seem a lot more important. Apollo's move could be viewed as a way to avoid picking a fight with the biggest US bank. Apollo CEO Marc Rowan's statement to BI offers some more insight. First, he alludes to JPMorgan CEO Jamie Dimon's criticism of the early recruitment of junior bankers. "When someone says something that is just plainly true, I feel compelled to agree with it," Rowan wrote via email. He then touched on why a reset was called for. "Asking students to make career decisions before they truly understand their options doesn't serve them or our industry," he wrote. "When great candidates make rushed decisions it creates avoidable turnover—and that serves no one," Rowan added. I'm not trying to carry PE's water here, but that makes sense to me! Not only is it incredibly dumb to ask young people to commit to their next job before they start their first one, but it also limits PE firms from a recruiting perspective. Under the current framework, people vying for these PE positions tend to fit a certain profile. From prestigious universities to finance clubs to summer internships to analyst jobs, the path to PE glory doesn't leave much room for detours. That's not to say these people make bad PE employees. God knows we've got plenty of examples of those who followed that exact route to success. But who says there isn't a great potential PE dealmaker out there taking the long road, so to speak? Maybe they didn't learn about PE or realize they wanted to get into the industry until the treadmill was moving too fast for them to jump on. Wanting to be in PE for a long time doesn't make you the most qualified person to work in PE. Meanwhile, pulling from such a small, selective talent pool could put firms at risk of groupthink. If you need to tick a certain number of boxes before getting a sniff at PE, you'll likely find a lot of people who were taught to think the same way. And when it comes to investing, that rarely turns out well. Moving away from that model is also good for the rest of us. As our interactions with PE firms grow, having people on the inside who understand life outside the PE rat race can benefit us all. Full disclosure: I'm still not convinced this will ultimately change anything. We've been down this path before. A few years ago a group of PE recruiters made a pact to hold off approaching junior bankers too early … only for one of them to break the truce and try front running the others. (This is Wall Street after all.) There's also nothing stopping another PE firm, let's call them Whitepebble or LLS, from using Apollo's pause as a way to scoop up even more talent. Or for another bank, let's call them Nevermore or Wizard, from telling aspiring bankers they'll be happy to help with their PE aspirations when they're recruiting on college campuses this fall. I'm also not naive enough to think that Apollo will open up the floodgates to anyone when it eventually starts recruiting associates. Even getting a sniff at such a prestigious firm will still be an honor for only a select few. But a slight deviation from the regimented system we have in place, where committing to a long-term career before you're even considered a legal adult is almost a prerequisite, is a step in the right direction. What do you think of the change? Is it a good thing that firms are taking a pause? Or will the PE industry lose something by slowing down early recruitment? Email me at ddefrancesco@ Read the original article on Business Insider Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
6 days ago
- Business
- Yahoo
Private equity took Jamie Dimon's warnings to heart. Here's why.
JPMorgan recently drew a line in the sand over private equity's recruiting of its newbie bankers. Within days, Apollo and General Atlantic said they would bow out of the practice this year. Here are some of the other factors that may have played a role in their decision. When Jamie Dimon speaks, people listen. Early last week, the JPMorgan CEO blasted the practice of private equity firms hiring junior bankers for future-dated jobs. Days later, buyout shops Apollo Global Management and General Atlantic heeded the warning and announced they'd stop the recruiting tactic. Even Apollo's CEO, Marc Rowan, seemed to credit Dimon for his firm's decision. "When someone says something that is just plainly true, I feel compelled to agree with it," Rowan, the Apollo CEO, told Business Insider last week, following his firm's decision to back out of recruiting 2027 associates this year. Dimon, who has proven influence over a wide range of topics including the economy and the workplace, has been no stranger to critiquing private equity's recruiting practices. He blasted them last year, telling students at Georgetown University that he believes they're "unethical" and that he wants to ban them. "I think it's wrong to put you in the position," Dimon said, adding: "You have to kind of decide the next career move before you have a chance to even decide what the company is like." The question is, why now? Nothing changed last year — so what triggered Apollo and General Atlantic to suddenly reverse course? Neither firm responded to interview requests from BI to speak with executives in time for the publication of this story. Industry insiders, however, pointed to a series of factors that they said have made it easier for firms to heed Dimon's words of warning, including the persistent slowdown in deal activity and the rise of artificial intelligence, which could supplant the need for some early career jobs. Frustrations have also been mounting over a recruiting process that has shifted earlier and earlier in recent years. "The matching process is yielding a lower success rate and many candidates will sign without fully knowing what they're getting into," Matt Ting, the founder of Peak Frameworks, a popular Wall Street careers course provider, told BI in April. Should any one of these factors change (deal activity picking up, for example), the rat race could come roaring back, some people said. "Being cynical, it's an easy time for them to make such a decision," said a senior banker, who asked to remain anonymous to protect his job and relationships with financial sponsors. The golden age of private equity has been over for some time now, thanks to higher borrowing costs and a persistently sluggish deals market. While it's unclear how this might be impacting hiring at the junior levels, the investment banker said his firm has seen a slowdown in the number of bankers poached. "The reality is, if things were extremely frothy right now, and they had a ton of deals going on and they needed more people, they'd actually be recruiting people off-cycle out of banks right now to fill seats immediately," the banker said, adding: "And they're not, you know what I'm saying?" Young bankers who spoke to BI, meanwhile, raised concerns that artificial intelligence could reduce the need for new blood in the coming years. Earlier this year at an industry conference, the CEO of buyout firm Vista Equity Partners predicted some 60% of the conference's attendees would be "looking for work" by next year due to artificial intelligence. What's more, BI has for years been hearing of growing tensions over the industry's pressure-cooker hiring tactics, which have been known to include middle-of-the-night interviews and demands that candidates make a decision before they leave the room or see their offers evaporate. The intensity has soured some young bankers on joining the industry, as BI has previously reported. Early recruiting timelines have also led to more candidates walking away from job offers they had signed at the start of their career — leaving firms to scramble to fill an open role. "One big issue with the early on-cycle is that reneging has gone up a lot," Ting told BI. What happens next is anyone's guess. For now, investment banks appear hopeful that other private equity firms follow Apollo and General Atlantic's lead. And while the exact role Dimon played remains a mystery, senior bankers say they are grateful to him for having the courage to speak up. "There's no one else at that level that can make bold proclamations like that," the banker said of Dimon. When asked if others had tried and failed to do what Dimon has done, the banker laughed. "You mean lean on some of our biggest fee drivers?" he replied. "It's tough to lean on your clients." Have a tip? Contact this reporter via email at ralexander@ or SMS/Signal at 561-247-5758. Use a personal email address and a nonwork device; here's our guide to sharing information securely. Read the original article on Business Insider 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
