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Blackstone's first-quarter profit beats on robust private equity, credit performance

VCCircle

VCCircle · 4m ago

Blackstone's first-quarter profit beats on robust private equity, credit performance

Blackstone reported higher-than-expected first-quarter profits, largely due to successful asset sales in its private equity and credit divisions. Despite market uncertainties under President Trump's policies, Blackstone has capitalized on selective opportunities, boosting its shares by 1%. Distributable earnings rose 11% to $1.41 billion, exceeding analysts’ expectations. Significant inflows of $61.64 billion increased its assets under management by 10% to $1.17 trillion. However, its real estate arm's AUM saw a decline due to high interest rates.

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Paytm Emerges The Biggest Loser In A Mixed Week For New-Age Tech Stocks, Delhivery Surges 18%

Inc42 · 1y ago

Paytm Emerges The Biggest Loser In A Mixed Week For New-Age Tech Stocks, Delhivery Surges 18%

Paytm, the parent company of Paytm Payments Bank, saw a crash of over 36% in its shares after the Reserve Bank of India barred the bank from accepting any deposits or credit transactions. On the other hand, logistics unicorn Delhivery reported a profitable quarter, with a consolidated profit after tax of INR 11.7 crore. PB Fintech also posted its first profitable quarter, with a net profit of INR 37.2 crore. Overall, the new-age tech stocks had a mixed performance as the Indian equity market remained volatile due to various macroeconomic factors.

KKR beats estimates with 4% rise in Q4 earnings

VCCircle

VCCircle · 1y ago

KKR beats estimates with 4% rise in Q4 earnings

Private equity firm KKR & Co Inc. announced a 4% increase in its fourth-quarter distributable earnings, driven by strong growth in income from asset sales, management fees, and transaction fees. After-tax distributable earnings reached $888.5 million, surpassing the Wall Street analyst estimate. Net profit from asset sales surged 85% to $359.6 million. KKR's private equity and infrastructure funds experienced gains, while the opportunistic real estate portfolio declined. The firm raised $31 billion of new capital and retained $100 billion of unspent capital, with $553 billion of total assets under management.

LPs slow down fresh commitment, but Indian PE-VC dry powder crosses $80 bn

VCCircle

VCCircle · 1y ago

LPs slow down fresh commitment, but Indian PE-VC dry powder crosses $80 bn

Limited partners (LPs) were slower in making fresh commitments to India-focused private equity, private credit, and venture capital funds in the first quarter of 2024. This comes after a period of increased commitments in the previous quarter. However, despite this slowdown, the amount of dry powder in the Indian private equity and venture capital sector has surpassed $80 billion, indicating a significant amount of available capital for investments.

True North wraps up fundraising for maiden private credit vehicle

VCCircle

VCCircle · 1y ago

True North wraps up fundraising for maiden private credit vehicle

True North has successfully completed fundraising for its first private credit fund after almost three years in the asset class. The private equity firm's inaugural private credit vehicle, which focuses on performing credit financing, reached its first fundraising milestone in November of last year.

LP commitments to Indian PE, VC and private credit funds cross $120 bn

VCCircle

VCCircle · 12m ago

LP commitments to Indian PE, VC and private credit funds cross $120 bn

Limited partners (LPs) have made commitments to Indian private equity, venture capital, and private credit funds, with the total amount crossing $120 billion. However, after reaching a record high at the end of 2023, LPs tightened their purse strings in the first quarter of 2024, with fresh commitments hitting a four-quarter low of Rs 24,380.

EQT in benchmark-busting exit move in India as it courts LPs for Asia fund

VCCircle

VCCircle · 3m ago

EQT in benchmark-busting exit move in India as it courts LPs for Asia fund

Swedish private equity firm EQT, after acquiring Baring Private Equity Asia in 2022, is nearing its first closing milestone of a new flagship Asia fund, with commitments surpassing $10 billion. The firm achieved significant returns from an Indian portfolio company acquired over a year ago. This success comes as EQT actively engages limited partners (LPs) to secure fundraising for its Asia-focused investments, highlighting the firm's strategic expansion and robust performance in the region.

Chinese ecommerce giant JD beats estimates for quarterly profit

Economic Times

Economic Times · 1y ago

Chinese ecommerce giant JD beats estimates for quarterly profit

Chinese e-commerce giant JD.com reported better-than-expected quarterly profit, driven by a mid-year sales festival and aggressive price cuts. Competing with other major vendors like Alibaba, JD.com has focused on discounting and offering lower-priced goods to attract cost-sensitive consumers. The company's second-quarter profit, excluding certain items, increased by 73.7% to 9.36 yuan per share, surpassing estimates of 6.07 yuan. JD.com's revenue rose 1.2% to 291.40 billion yuan in the quarter. The company's performance reflects the increasing competition and the need for retailers to rely on discounting events to drive growth.

How Blackstone’s oldest active India portfolio firm is gearing up for growth

VCCircle

VCCircle · 9m ago

How Blackstone’s oldest active India portfolio firm is gearing up for growth

Blackstone's oldest active India portfolio company is focusing on digital services, technology upgrades, and core process overhauls to drive growth. The private equity firm is making strategic moves to strengthen its position in the Indian market.

Blackstone to Buy $5 Billion Secondary Private Equity Stakes From NYC Pension Systems Amid 35% Fundraising Decline | DeepNewz VC

deepnewz

deepnewz · 3m ago

Blackstone to Buy $5 Billion Secondary Private Equity Stakes From NYC Pension Systems Amid 35% Fundraising Decline | DeepNewz VC

Blackstone is purchasing $5 billion in secondary private equity stakes from the New York City pension system. This transaction involves acquiring existing positions in private equity funds from the pension system. The deal reflects Blackstone's strategy to invest in secondary markets, highlighting its confidence in the long-term benefits of private equity investments. Details about the specific terms or discounts involved in this purchase were not disclosed.

Nike reports Q1 profit of $1.45 billion, beats estimates

Livemint

Livemint · 1y ago

Nike reports Q1 profit of $1.45 billion, beats estimates

Nike, the world's largest sportswear maker, reported a first-quarter profit of $1.45 billion, beating estimates. Despite missing revenue estimates, the company successfully reduced inventories and forecasted an increase in second-quarter gross margins. Nike plans to focus on running and modern comfort products to capitalize on consumer demand, as well as refresh its basketball shoe portfolio. While North America revenue fell, Nike's share price rose almost 10% in after-market trading.

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