Centerbridge Partners’ Top Real Estate Dealmaker Rahm to Depart
Centerbridge Partners’ Billy Rahm, who oversees global real estate investing, is leaving the firm, according to people with knowledge of the matter.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Centerbridge Partners’ Billy Rahm, who oversees global real estate investing, is leaving the firm, according to people with knowledge of the matter.
Uniti Group Inc. is in advanced talks to reunite with telecommunications provider Windstream in a merger that could be valued at up to $15 billion, including debt, according to people familiar with the matter. Uniti rose as much as 13%.
Figure Technology Solutions Inc. tapped Michael Tannenbaum as its new chief executive officer, ahead of the financial-services firm’s potential initial public offering.
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Australian Retirement Trust has become the country’s latest pension fund to open a London office, as the fast-growing retirement sector hunts for deals beyond its backyard.
Jun 17, 2021
Bloomberg News
,(Bloomberg) -- Saudi Arabia will combine two state-run pension and unemployment insurance funds into an entity with almost $29 billion of local and foreign stocks.
The cabinet approved the combination of the Public Pension Agency and the General Organization of Social Insurance, also known as GOSI. It’ll boost investment returns, reduce costs and help with their diversification, Finance Minister and GOSI Chairman Mohammed Al Jadaan said in a statement.
The funds hold significant stakes in Saudi Arabian firms, including a combined $8.5 billion holding in Saudi National Bank and a $4.3 billion stake in Al Rajhi Bank, according to data compiled by Bloomberg. They also hold shares worth $207 million in AstraZeneca Plc and $170 million in HSBC Holdings Plc. Their portfolios also include real estate and bonds.
Saudi Arabia has been taking steps to merge and restructure various entities as it looks to boost efficiency as part of a plan to diversify the economy away from oil. The Public Investment Fund, the country’s $430 billion sovereign wealth fund, is mandated with investing in new industries inside the kingdom, while also buying stakes abroad.
The kingdom has also bought several local funds focused on sector including real estate, industry, and agriculture together under the National Development Fund to reduce overlap and costs.
©2021 Bloomberg L.P.