Shares in KKR, Blackstone and other sector peers tumbled on Wednesday after Switzerland’s Partners Group moved to restrict investor withdrawals from one of its funds, stoking fresh fears over private market valuations. Shares in Carlyle Group and KKR dropped more than 5% and 4%, respectively. Blackstone and Ares Management each slipped around 4%, while Blue…
The Blackstone headquarters in New York, US, on Wednesday, July 17, 2024. Bloomberg | Bloomberg | Getty Images Blackstone said Tuesday it had raised $13.1 billion for its latest Asia private equity fund, marking its largest PE fundraise in the region. The alternative asset manager said that Blackstone Capital Partners Asia III exceeded its $10…
EDITORIAL | Kenya’s G-to-G oil deal smells increasingly like a sovereign transfer of wealth to private firms The Kenyan public was promised stability. What it may have received instead is one of the most opaque and politically loaded commercial arrangements in recent memory. When Nairobi unveiled its Government-to-Government (G-to-G) oil import deal with Saudi Arabia…
Youssef Elgonaid Interview with Youssef ElgonaidCO-FOUNDER and CEO, AFRICAN RAIL COMPANY For decades, South Africa’s freight rail network has been tightly controlled by the state. Youssef Elgonaid, CEO of African Rail Company (ARC), describes the recent move to grant private operators wider access to the system as a “once-in-a-generation opportunity”. Founded in 2013, ARC recently…
Youssef Elgonaid Interview with Youssef ElgonaidCO-FOUNDER and CEO, AFRICAN RAIL COMPANY For decades, South Africa’s freight rail network has been tightly controlled by the state. Youssef Elgonaid, CEO of African Rail Company (ARC), describes the recent move to grant private operators wider access to the system as a “once-in-a-generation opportunity”. Founded in 2013, ARC recently…
South Africa’s private sector expanded at its fastest pace in nearly four years in April, as sales and output rose amid supply concerns linked to the Iran war, a business survey showed on Wednesday. The S&P Global South Africa Purchasing Managers’ Index rose to 51.6 in April from 50.8 in March. The 50-mark separates growth…
The World Bank Group, the African Development Bank, and The Rockefeller Foundation launched a new Mission 300 Private Sector Council to mobilize the billions in private investment needed to connect 300 million Africans to electricity by 2030 while unlocking job creation across the continent. Fourteen leaders from diverse sectors will help drive strategies to crowd…
Apollo Global Management signage in New York on Dec. 5, 2023. Jeenah Moon | Bloomberg | Getty Images Apollo’s John Zito had a blunt assessment of how private equity firms are valuing their software holdings as shares of comparable public tech companies have plunged: They’re not, he said. Zito, co-president of the firm’s giant asset…
NTT DATA x Ericsson NTT DATA, a global leader in AI, digital business and technology services, and Ericsson (NASDAQ: ERIC) today announced a multi-year strategic partnership to accelerate enterprise adoption of private 5G and unlock advanced edge AI and physical AI use cases. As organizations look to embed intelligence at the edge across global operations,…
STORY HIGHLIGHTS The Horn of Africa has the largest concentration of livestock keepers in the world, as many as 7 million of them in Kenya. World Bank funding is fostering private sector opportunities that make pastoralism and livestock keeping a safer and more viable investment. Kenya’s thriving farming sectors could help university graduate and school…
