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HSBC and UBS are expanding their wealth management operations in India, driven by a surge in new millionaires following a record year of IPOs. UBS is reportedly seeking to acquire shares in 360 ONE, while HSBC plans to nearly double its branches, targeting cities with growing wealth. The wealth management sector is projected to see significant growth, with the number of individuals worth over $30 million expected to rise sharply in the coming years.
UBS has downgraded Altus Power from Buy to Neutral following TPG Rise Climate's announcement to acquire the company for $5.00 per share, with the deal expected to close in Q2 2025. Despite a recent 24% stock gain, UBS anticipates stable pricing until the transaction's completion, supported by significant investor backing. Meanwhile, JPMorgan upgraded Altus Power to Neutral, citing the offer's reasonableness amid current market conditions.
UBS has downgraded Altus Power from Buy to Neutral following TPG Rise Climate's announcement to acquire the company for $5.00 per share. Despite a recent 24% stock increase, the price target remains at $5.00, with a high likelihood of the deal closing in Q2 2025, supported by major investors.
Deutsche Bank has revised its price target for Blackstone Inc. to $195 from $204 while maintaining a Buy rating. Blackstone specializes in managing investment funds across equities, bonds, and structured products, as well as insurance and real estate asset management, boasting USD 1,040.2 billion in assets under management at the end of 2023.
Hg has partnered with UBS to enhance the distribution of its semi-liquid strategy, raising €750 million. The UK-based firm, in collaboration with technology platform S64, launched Hg Fusion, allowing clients in Europe and Asia access to its funds and co-investments. Initially, Hg secured around €500 million from a network of entrepreneurs seeking streamlined access to private equity investments.
Alts managers are increasingly seeking local partners after securing UBS for evergreen fund distribution, which was once dominated by global banks. Veronique Fournier from Apollo Global Management noted that demand for private markets, especially evergreen funds, has shifted significantly in recent years.
The stock market saw gains during the Christmas Eve trading session, with the Dow Jones rising over 175 points and the Nasdaq composite up 0.9%. Adtalem Global Education and Fortinet are nearing buy points, while American Airlines faced a temporary grounding of flights due to a technical issue. Major tech stocks like Nvidia and Amazon also showed strength, contributing to the overall positive market sentiment.
Walgreens Boots is in talks for a sale to Sycamore Partners, while Domino’s bids for Wingston’s UK franchise. In a significant move, a federal judge blocked Kroger's $24.6bn merger with Albertsons, favoring antitrust regulators. Meanwhile, Evergrande's liquidation efforts face challenges as its assets are primarily in mainland China, complicating recovery for investors.
Nippon Life Insurance Co. is set to acquire Resolution Life Group Holdings for $8.2 billion, marking the largest acquisition by a Japanese insurer. The deal will involve purchasing shares from various holders, including Blackstone Inc., with plans to complete the transaction by the second half of 2025.
Apollo Global Management Inc. and Workday Inc. have been added to the S&P 500 index following the latest quarterly rebalancing. They will replace Qorvo Inc. and Amentum Holdings Inc., with the changes taking effect before the market opens on December 23.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
global banks expand wealth management in india amid rising millionaire class
Indian Rupee
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Kotak Mahindra Bank FUT, March
Knight Frank LLP
Motilal Oswal Financial Services Limited
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IND
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06:00 17.03.2025
ubs downgrades altus power stock rating amid tpg acquisition announcement
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11:20 10.02.2025
ubs downgrades altus power to neutral after tpg rise climate acquisition announcement
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JPMorgan Chase & Co.
Blackstone Inc.
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11:09 10.02.2025
Deutsche Bank lowers Blackstone price target while maintaining buy rating
13:23 31.01.2025
Hg partners with UBS to enhance semi-liquid investment strategy in Europe
11:01 13.01.2025
alts managers seek local partners after securing distribution with UBS
Blackstone Inc.
CVC Capital Partners plc
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08:01 13.01.2025
Dow Jones rises as American Airlines flights grounded during holiday rush
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16:48 24.12.2024
esoteric debt market surges as investors seek unique financial products
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BEL
CHN
Tabby Kinder
Maria Heeter
Ivan Levingston
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06:00 11.12.2024
nippon life to acquire resolution life for 8.2 billion dollars
10:19 10.12.2024
Apollo and Workday Added to S&P 500 Index in Latest Rebalancing
23:21 06.12.2024
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