Bain Capital is seeking to raise $4 billion for a new global “special situations fund” as the U.S. firm sees an opportunity to snap up distressed and equity investments, two people familiar with the matter said.
KKR & Co Inc said on Monday its after-tax distributable earnings fell 26% year-on-year in the first quarter due to a sharp drop in asset sales from its private equity portfolio and lower transaction fees.
Itau Unibanco Holding SA , Brazil’s biggest private bank, reported first-quarter recurring net profit of 8.435 billion reais ($1.7 billion) on Monday, a 14.6% year-on-year rise despite higher provisions for bad loans.
Shares of PacWest Bancorp jumped 24% on Monday and led a recovery in the battered U.S. banking sector after the lender sharply cut its quarterly dividend to shore up its finances.
Standard Chartered Chief Executive Bill Winters said on Monday he sees a big recession in the United States as unlikely, although a period of negative growth was possible.
Banking group Citi has appointed Omar Hafeez as head of its North Africa, Levant and Central Asia operations based in Dubai after a reorganisation of the company’s MENA region, it said on Monday.
Australia’s Westpac Banking Corp on Monday threw out a cost-cutting target citing inflation and flagged thinner profit margins going ahead, but investors pushed its shares higher after it handily beat expectations for first-half profit.
The Reserve Bank of New Zealand is proposing collecting financial entity data on cyber incidents to better understand cyber risks and resilience in the financial sector, it said in a statement on Monday.
Indian digital payments firm Paytm aims to become “free cashflow positive in the near future,” chief executive Vijay Shekhar Sharma said in a letter to shareholders on Sunday.
