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Marty Bicknell's Dynasty Financial Partners raised an estimated $100 million at a $500 million valuation, enhancing its services for independent advisors while maintaining a debt-free status. The investment round, led by Abry Partners and supported by Charles Schwab, positions Dynasty for strategic growth amid challenging IPO conditions. CEO Shirl Penney emphasized the importance of aligning with partners to strengthen their commitment to the independent wealth management sector.
The White House is spearheading discussions on TikTok's future in the US, proposing that ByteDance's largest non-Chinese investors take control of the app's American operations. This plan aims to spin off TikTok's US entity and reduce Chinese ownership below 20% to comply with legal requirements and avert a ban. Susquehanna International Group and General Atlantic are leading the negotiations, with KKR involved, while Oracle is set to manage US user data to enhance security against foreign access. ByteDance maintains that US data is stored on Oracle-operated servers and that content moderation is conducted domestically.
Pilgrim Partners Asia Pte Ltd and Cassady Schiller Wealth Management LLC acquired new stakes in KKR & Co. Inc. during the 4th quarter, valued at $34,000 and $36,000, respectively. Institutional investors hold 76.26% of the company's stock, which has a current rating of "Moderate Buy" and an average price target of $160.79. Recently, Wells Fargo upgraded KKR's rating to "overweight," with a price target of $141.00, indicating a potential upside of 20.84%.
Wells Fargo upgraded KKR's outlook from Equal-Weight to Overweight on March 20, 2025, with a one-year price target averaging $175.70, suggesting a 50.59% upside from its recent closing price of $116.67. Institutional ownership has increased, with 2,187 funds reporting positions, while the projected annual revenue for KKR is expected to decrease by 64.68%. Notable shareholders include Capital International Investors and Wellington Management, both adjusting their allocations in the last quarter.
Wells Fargo has upgraded KKR's stock rating from neutral to overweight, citing potential for a rebound after a recent decline. Analyst Michael Brown set a new price target of $141, reflecting a 21% upside, driven by better-than-expected asset monetization and strong first-quarter fundraising, despite a year-to-date drop of over 21%. KKR's stock rose nearly 1% on Thursday, with manageable downside risks noted.
Wells Fargo analyst Michael Brown upgraded KKR & Co. Inc. from Equal Weight to Overweight, adjusting the price target to $141 from $150, driven by a positive growth outlook and expectations of a fundraising supercycle. KKR's strong financial health and reasonable valuation present an attractive entry point for investors, with a favorable risk/reward balance. Additionally, KKR has raised $2.6 billion through convertible preferred stock and is exploring acquisitions, including TXNM Energy Inc. and Gerresheimer AG, while enhancing its governance with a new board member.
Citigroup has shut down the Silverfern Equity Club, a private equity initiative launched in 2012 to connect wealthy clients with exclusive investment opportunities. The venture faced legal disputes and client dissatisfaction, particularly over poor performance in the oil-and-gas sector, leading to only $220 million in actual investments from an initial $470 million commitment. A New York court ruled that Silverfern owed Citigroup $9 million in unpaid fees, highlighting the challenges banks face in providing private market access to affluent investors.
Citi Private Bank's Silverfern club aimed to attract wealthy clients with private equity investments, but tensions arose over differing expectations and performance issues. A legal battle ensued after Citi distanced itself from Silverfern, leading to a ruling that favored Citi, highlighting the challenges of client relationships in private equity.
Citigroup's Silverfern Equity Club, launched to connect wealthy clients with private equity opportunities, has ended in disappointment after a decade, marked by poor performance and legal disputes. A recent ruling found Silverfern liable for unpaid fees to Citi, highlighting ongoing challenges in accessing private markets for elite investors. As Wall Street banks seek to tap into trillions in potential investments, Citi's experience serves as a cautionary tale in the competitive landscape of private equity.
Deutsche Bank will provide its asset management arm, DWS, with preferred access to private credit deals it originates, enhancing DWS's offerings in asset-based finance and direct lending. This move comes as demand for alternative assets surges, with DWS managing 110 billion euros in alternatives out of 1 trillion euros total assets. Patrick Connors from Deutsche Bank will join DWS as global head of private credit, reflecting the growing importance of origination in the competitive private credit market.
KKR & Co. Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
dynasty financial partners secures funding to enhance services and pursue acquisitions
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deutsche bank partners with dws for exclusive access to private credit deals
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