Goldman Sachs

Silver Lake to Take Endeavor Private

Retrieved on: 
Tuesday, April 2, 2024
General Sports, Sports, Finance, General Entertainment, Professional Services, Events, Concerts, Licensing (Sports), Entertainment, MSD, Barclays, Goldman Sachs, TKO, Simpson Thacher & Bartlett, Endeavor Group Holdings, EDR, Royal Bank of Canada, Latham & Watkins, Telecommunications, Committee, Partnership, WWE, Royal Bank, Lexington Partners, Cravath, Swaine & Moore, VWAP, Endeavor (company), Centerview Partners, Kirkland & Ellis, Bank of America, BofA Securities, Sport, Acquisition, RBC Capital Markets, Whitesell, Growth, IMG, BDT, Deutsche Bank, Bank, LLP, Mubadala Investment Company, Martha Plimpton, Music, UFC, Management

Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.

Key Points: 
  • Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.
  • On the unaffected date, the equity value was $8.2 billion, and the premium to be paid by Silver Lake represents $4.6 billion more equity value to all Endeavor stockholders.
  • Ariel Emanuel, CEO of Endeavor, said: "Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today.
  • Egon, Stephen, and the broader Silver Lake team have been and will continue to be phenomenal partners in Endeavor’s journey, and we look forward to the road ahead.”
    Stephen Evans, Managing Director of Silver Lake and a Director of Endeavor, said: “The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5 billion of direct investment across six distinct transactions over 12 years.

Forge Global’s Private Market Index to be Tracked by Accuidity Strategy, Offering Diversified Exposure to Late-Stage Companies

Retrieved on: 
Tuesday, April 2, 2024
Professional Services, Data Management, Technology, Data Analytics, Finance, Software, Goldman Sachs, Partnership, Name, Epic Games, Forge, Research, Index, Fidelity Investments, SpaceX, Geode Capital Management, Cryptocurrency

Forge Global Holdings, Inc. (“Forge”) (NYSE: FRGE), a leading provider of marketplace infrastructure, data services and technology solutions for private market participants, today announced that the Forge Accuidity Private Market Index – which tracks the performance of late-stage, venture-backed companies - has been adopted by Accuidity within their Megacorn strategy (“Accuidity”).

Key Points: 
  • Forge Global Holdings, Inc. (“Forge”) (NYSE: FRGE), a leading provider of marketplace infrastructure, data services and technology solutions for private market participants, today announced that the Forge Accuidity Private Market Index – which tracks the performance of late-stage, venture-backed companies - has been adopted by Accuidity within their Megacorn strategy (“Accuidity”).
  • The Forge Accuidity Private Market Index tracks the performance of 60 venture-backed, late-stage, private growth companies including SpaceX, Anduril, Scale AI, Epic Games, Chime and others.
  • The Forge Accuidity Private Market Index is backed by Forge’s extensive private market expertise and robust data platform, as well as Accuidity’s deep institutional asset management experience.
  • “At Accuidity, we view index investing as a catalyst for greater private market access and participation,” said Accuidity Founder and Co-President Vince Gubitosi.

UBS Private Wealth Management hires William Wright and Matthew Hoffman in New York City

Retrieved on: 
Tuesday, April 2, 2024
Professional Services, Finance, Consulting, Asset Management, Banking, Personal Finance, Cooking, Certified Public Accountant, Culture, Syracuse University, J. P. Morgan, Tennis, Goldman Sachs, Business, Trust, Gardening, Business administration, Skiing, UBS, Travel, Wealth, History, University, University of Chicago, Dog, Music, Golf, Animal, CPA, Management

UBS Private Wealth Management today announced that Private Wealth Advisors William Wright and Matthew Hoffman will be joining the firm in New York City, along with Senior Wealth Strategy Associate Audrey Kaus.

Key Points: 
  • UBS Private Wealth Management today announced that Private Wealth Advisors William Wright and Matthew Hoffman will be joining the firm in New York City, along with Senior Wealth Strategy Associate Audrey Kaus.
  • At the conclusion of their respective notice periods, William and Matthew will join the UBS Manhattan Market in New York City.
  • William Wright will join UBS from J.P. Morgan Private Bank as a Managing Director and Private Wealth Advisor.
  • Matthew Hoffman will join UBS from J.P. Morgan Private Bank as a Private Wealth Advisor.

Proxima AI Raises $12 Million in Series A Financing

Retrieved on: 
Tuesday, April 2, 2024
Advertising, Communications, Technology, Other Technology, Software, Artificial Intelligence, E-commerce, Face, Growth, Goldman Sachs, Meta, Acquisition, AdMob, LVMH, Series, Privacy, Marketing, IOS, Sequoia Capital, Cryptocurrency

Proxima , a data intelligence software company that empowers consumer technology businesses to scale customer acquisition profitably, expand customer lifetime value and optimize full lifecycle marketing, today announces the closing of a $12 million Series A round led by Mucker Capital.

Key Points: 
  • Proxima , a data intelligence software company that empowers consumer technology businesses to scale customer acquisition profitably, expand customer lifetime value and optimize full lifecycle marketing, today announces the closing of a $12 million Series A round led by Mucker Capital.
  • Since launching in May 2022, Proxima has achieved over 400% revenue growth and increased its proprietary network of B2C connections to over 12,000.
  • This powerful network harnesses over 65 million unique, anonymized shopper profiles, blending these with advanced AI models.
  • This synergy empowers clients to elevate their marketing performance by unlocking deep, actionable insights and superior targeting.

Genmab to Broaden and Strengthen Oncology Portfolio with Acquisition of ProfoundBio

Retrieved on: 
Wednesday, April 3, 2024
Biotechnology, General Health, Health, Pharmaceutical, Oncology, Ovarian cancer, BofA Securities, PIN, U.S. FDA, Shearman, Webcast, Patient, Fast Track, Goldman Sachs, Morgan Stanley, LLP, Acquisition, Cancer, Spacecraft, Cooley LLP, DKK, Shearman & Sterling, ADC, USD, Law, Food, Pharmaceutical industry

Genmab A/S (Nasdaq: GMAB) and ProfoundBio, Inc. announced today that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction.

Key Points: 
  • Genmab A/S (Nasdaq: GMAB) and ProfoundBio, Inc. announced today that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction.
  • Genmab will acquire ProfoundBio for USD 1.8 billion in cash, payable at closing (subject to adjustment for ProfoundBio’s closing net debt and transaction expenses).
  • The transaction will further broaden Genmab’s mid- to late-stage clinical pipeline and strengthen and complement Genmab’s already validated suite of proprietary technology platforms.
  • The addition of Rina-S to Genmab’s portfolio will enable Genmab to deepen its presence in the gynecologic oncology space and establish a firm foundation in solid tumors.

Kennedy Lewis Investment Management Announces Strategic Investment from Petershill at Goldman Sachs Asset Management

Retrieved on: 
Tuesday, April 2, 2024
Asset Management, Professional Services, Finance, Market, BofA Securities, Goldman Sachs, GP, AACP, Kirkland & Ellis, Security (finance)

Kennedy Lewis Investment Management (“Kennedy Lewis”), a leading opportunistic credit manager, today announced that Petershill at Goldman Sachs Asset Management (“Petershill”) has made a passive, minority investment in the firm.

Key Points: 
  • Kennedy Lewis Investment Management (“Kennedy Lewis”), a leading opportunistic credit manager, today announced that Petershill at Goldman Sachs Asset Management (“Petershill”) has made a passive, minority investment in the firm.
  • The investment from Petershill will have no impact on Kennedy Lewis’ investment process, management, or day-to-day operations.
  • In conjunction with the investment from Petershill, Azimut Alternative Capital Partners, LLC (“AACP”) will divest its non-controlling, minority equity interest in Kennedy Lewis.
  • Sidley Austin LLP served as legal advisor to AACP and Kirkland & Ellis served as legal advisor to Goldman Sachs Asset Management.

UL Solutions Announces Launch of Initial Public Offering

Retrieved on: 
Tuesday, April 2, 2024
Supply Chain Management, Professional Services, Retail, Other Professional Services, Technology, Software, Consulting, Engagement, UL, Citigroup, BofA Securities, UBS, J. P. Morgan, Bookrunner, Exchange, Goldman Sachs, Wells Fargo, Form, Telephone, Sale, Attention, IPO, Prospectus, Bank of America, Broadridge Financial Solutions, Jefferies, J.P. Morgan & Co., Security (finance)

UL Solutions Inc. (“UL Solutions”) today announced the launch of its initial public offering (the “IPO”) of 28,000,000 shares of its Class A common stock and the commencement of the roadshow for the IPO.

Key Points: 
  • UL Solutions Inc. (“UL Solutions”) today announced the launch of its initial public offering (the “IPO”) of 28,000,000 shares of its Class A common stock and the commencement of the roadshow for the IPO.
  • The offering consists entirely of secondary shares to be sold by UL Standards & Engagement, a nonprofit organization that is currently the sole stockholder of UL Solutions.
  • The underwriters will have a 30-day option to purchase up to an additional 4,200,000 shares of Class A common stock from UL Standards & Engagement.
  • UL Solutions is not offering any shares of its Class A common stock in the proposed offering and will not receive any proceeds from the proposed sale of the shares.

Rubrik Files Registration Statement for Proposed Initial Public Offering

Retrieved on: 
Monday, April 1, 2024
Technology, Data Management, Security, Deutsche Bank, Wedbush Securities, Citigroup, Exchange, Goldman Sachs, Wells Fargo, Form, Telephone, Sale, Attention, Guggenheim Partners, Prospectus, BMO Capital Markets, KeyBank, Barclays, Security (finance)

Rubrik, Inc. today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission related to a proposed initial public offering of its Class A common stock.

Key Points: 
  • Rubrik, Inc. today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission related to a proposed initial public offering of its Class A common stock.
  • The number of shares to be offered and the price range for the proposed offering have not yet been determined.
  • A registration statement related to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.
  • These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

Liberty Media Announces Agreement to Acquire Commercial Rightsholder of MotoGP™

Retrieved on: 
Monday, April 1, 2024
Entertainment, Sports, Other Entertainment, General Entertainment, Other Sports, Motor Sports, General Sports, Failure, CPP Investment Board, Dorna Sports, Goldman Sachs, Webcast, Internet, Acquisition, Form 10-K, Liberty Media, Grand Prix motorcycle racing, Risk, Formula One Group, Latham & Watkins, Cryptocurrency

Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK) announced today that it has entered into an agreement to acquire Dorna Sports, S.L.

Key Points: 
  • Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK) announced today that it has entered into an agreement to acquire Dorna Sports, S.L.
  • (“Dorna”), the exclusive commercial rights holder to the MotoGP™ World Championship, from Bridgepoint and Canada Pension Plan Investment Board (“CPP Investments”).
  • Liberty Media retains an option at its sole discretion to deliver additional cash in lieu of FWONK common stock.
  • Presentation materials to be used during the investor call will be posted to the Liberty Media website in advance.

Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend U. S. Steel Shareholders Vote “FOR” the Pending Transaction with Nippon Steel Corporation (NSC)

Retrieved on: 
Friday, March 29, 2024
Steel, Manufacturing, Institutional Shareholder Services, U.S. Steel, Glass Lewis, Goldman Sachs, CLF, USS, Proxy, Risk, Nippon Steel, Evercore, Cleveland-Cliffs, ISS, NSC, Barclays

S. Steel”) today announced that leading independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”) have recommended that U. S. Steel shareholders vote “FOR” the pending transaction with Nippon Steel Corporation (“NSC”) (TSE: 5401) at the upcoming special meeting on April 12, 2024.

Key Points: 
  • S. Steel”) today announced that leading independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”) have recommended that U. S. Steel shareholders vote “FOR” the pending transaction with Nippon Steel Corporation (“NSC”) (TSE: 5401) at the upcoming special meeting on April 12, 2024.
  • “There is no doubt that the offer represents a meaningful premium for shareholders resulting from a thorough and competitive sales process.
  • Importantly, U. S. Steel will retain its headquarters in Pittsburgh, Pennsylvania and together with NSC will bolster and grow U. S. Steel in the U.S. market in a way that prioritizes our talented employees and union members.
  • Milbank LLP and Wachtell, Lipton, Rosen & Katz are acting as legal advisors.