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KKR has officially opened a permanent office in Zurich, enhancing its Global Wealth Solutions team with key hires Derya Kara and Mattia Castrovillari. This expansion aims to strengthen ties with private banks and wealth managers in Switzerland, reflecting the growing demand for KKR's investment expertise in the region.
[Bloomberg]
Blackstone Inc. has acquired interests in a $1 billion loan portfolio from Banco Santander SA. This portfolio finances assets in digital infrastructure, including data centers, as well as projects in renewables and transportation.
India's medical technology industry aims for USD 20 billion in exports by 2030, seeking government support for growth. Aster DM Healthcare is merging with Blackstone's Care Hospitals, creating a major hospital chain, while mental health searches in India surged 41% in 2024, highlighting a growing focus on wellness.
At 17, Peter Cancro purchased Mike’s Subs for $125,000, later rebranding it as Jersey Mike’s, which has now been valued at $8 billion following a majority acquisition by Blackstone. With nearly 3,000 locations and $3.3 billion in sales in 2023, Cancro retains a significant equity stake and will continue as CEO. Despite past challenges, including financial struggles in the early '90s and the 2006 downturn, the company has seen consistent growth, averaging 20% annually since 2019.
Blackstone Inc.’s main private credit fund, BCRED, successfully raised $1.5 billion in a single day by tapping into the investment-grade bond market. This included a $1 billion sale of senior unsecured bonds and a $500.5 million collateralized loan obligation, marking BCRED’s first 10-year bond issuance. This event is notable as it represents only the second 10-year bond sale by a business development company, following Ares Capital Corp.'s deal in 2021.
Blackstone Inc. has invested over $500 million in Lancium Inc., which is developing more than 5 gigawatts of data centers in West Texas to meet the rising energy demands of artificial intelligence applications. The investment supports Lancium's plans to establish five facilities in areas rich in wind and solar energy.
At the Global Financial Leaders’ Investment Summit in Hong Kong, Apollo CEO Marc Rowan highlighted a U.S. "industrial renaissance" driving significant capital demand, fueled by government spending on infrastructure and technology. Panelists noted a resurgence in capital raising, particularly in energy and data centers, with expectations for robust M&A activity in 2025 as economic conditions improve.
Nvidia"s stock rose nearly 5% to $147.01, with a significant 196% increase in 2024, as it prepares to report earnings. Retail giant Target also reports, while Walmart"s stock hit a new high after solid results. Delta Air Lines and United Airlines continue to see substantial gains, with Delta up 61% in 2024. Meanwhile, three utility companies—NiSource, Sempra, and Vistra—reached all-time highs, with Vistra gaining nearly 24% in November alone.
Jersey Mike’s founder has reached a net worth of $7 billion following a lucrative deal with Blackstone. This significant financial milestone highlights the growing success and valuation of the popular sandwich chain in the competitive fast-casual dining market.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
kkr expands presence in zurich with new office and key hires
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