Tag Archives: PRIVATE EQUITY/

Rugby News 2021: New Zealand Rugby, All Blacks, $ 465 million bid from Silver Lake | Instant News


New Zealand Rugby has accepted a $ 465 million ($ A439m) offer from US technology investment giant Silver Lake for a 15 percent stake in commercial rights worth $ 3.1 billion, ($ A2.93b) the Herald can disclose.

The deal, if signed by New Zealand’s provincial Rugby union in the coming months, will be the biggest reach since the game turned professional 25 years ago, and the biggest deal in New Zealand’s sporting history.

New Zealand’s Rugby and Silver Lake have been in talks for more than nine months, with the Herald first expressing their mutual interest last May.

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This interest could be a big development for NZ Rugby. (Photo by Brendon Thorne / Getty Images)Source: Getty Images

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Rens Götz Quits ABB, Following Former Boss Elisabeth Bourqui to His New Asset Management Company | Instant News



Rens Götz has left the Swedish-Swiss multinational engineering company ABB, where he has served as a risk officer and head of asset management. He recently joined ABB’s one-time boss, Elisabeth Bourqui, in his new asset management venture, BERG Capital Management, where he was CEO.

Bourqui founded BERG a year ago, following his departure from the California Public Employees’ Retirement System (CalPERS) in January 2019 after his term was cut. He left his ABB post to join CalPERS, and moved to California in May 2018 from Switzerland.

Götz started last month at BERG, a Swiss venture capital and private equity fund with a strict focus on governance investments. Bourqui recruited him to become the fledgling company’s newest partner, technology director, and senior portfolio manager.

The former advocate said he appreciates BERG has an “asset owner perspective,” as it seeks medium and long-term investments for clients. He was approached with a number of opportunities around the time he announced his retirement from ABB in December, including “five or six” legitimate prospects he said he was considering, before settling on BERG.

Change was taking place at ABB when Götz left. Last summer, ABB sold most of its power grid business to Japanese conglomerate Hitachi. The company has closed Swedish and Finnish pension funds. Both were sold to insurance companies, and their assets were liquidated.

“In the end, I think what made me choose this solution was entrepreneurship, a focus on governance, and the evidence that Elisabeth is able to provide in an effort to create a system where doing the right thing is important, but in the end it also produces the best results,” he said IOC.

Götz is part of the three-man team at BERG. The leadership team includes Bourqui and BERG Chair Didier Cossin, a professor of governance and finance at the International Institute for Management Development (IMD), Switzerland’s top business school. That’s where Cossin also founded the IMD Global Board Center to research investment governance.

Bourqui’s star asset allocator left CalPERS just seven months after he was hired as chief operating investment. He then hiring an employment attorney who specialize in false stops. He has moved to the US from Zürich, Switzerland, for the role of CalPERS. He won Innovation Award from IOC for the success of raising funds at ABB.

“He’s very smart. A Ph.D. in mathematics is not something that is shared freely in Switzerland. “But above that, very energetic, he’s very ambitious in what he’s trying to achieve, and part of that comes from the fact that he looks so much everywhere,” said Götz.

“I would not have joined if there was no path to success, so to speak,” he added.

During the seven years he spent at ABB, Götz digitized the company’s pension system to manage and reduce risk throughout the system, as well as generate higher returns. Using artificial intelligence (AI) to automate systems helps companies track their more than 100 retirement plans around the world. And using the data to create scenario models helped Götz and Bourqui convince trustees where they could take greater risks geographically with their investments.

Reducing risk throughout its retirement system works wonders for ABB. In just the four years leading up to 2018, ABB’s portfolio made up a whopping 24.6%. In 2018, Götz too named NextGen by CIO Magazine.

“The ABB pension strategy ultimately proved more stable over time and, therefore, provided a higher final yield,” he said.

Meanwhile, BERG runs a model portfolio focused on US investment, which outperformed the 9% benchmark by 5 percentage points: BERG returned 14% over the past calendar year, said Götz.

At BERG, Götz will continue to combine the machine learning process with governance investments. Companies see governance as a key driver of fund performance over a period of three or 10 years, and perhaps the most important consideration in environmental, social and governance (ESG) levels. Is the investment properly organized? Are private equity contracts properly structured to promote long-term performance? (Separately, the fund is looking for real estate managers).

“My job is to combine the forward-looking views we have with improving governance across the process from top to bottom and bottom up for allocation, so security selection, but also asset class selection, to improve the whole chain,” he said.

Related story:

2018 NextGen: Rens Götz

CalPERS Former Investment Officer No. 2 Hiring an Employment Lawyer After Resigning

CalPERS Appoints Elisabeth Bourqui Chief Operating Investment Officer ABB

Tag: FIG, Asset management, BERG Capital Management, CalPERS, Elisabeth bourqui, Investation, pension fund, private equity, Rens Götz, Switzerland, Startup Capital

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The future of startup cryptocurrency Ripple hangs on the SEC’s case | Instant News


Brad Garlinghouse, Ripple’s chief executive, last year publicly contemplated at the World Economic Forum in Davos, Switzerland, the initial public offering for the San Francisco startup.

The company recently raised about $ 200 million in a venture funding round led by Tetragon Financial Group, with a valuation of $ 10 billion. The value of its flagship product, a cryptocurrency called XRP, has fallen over the previous year. But Ripple is poised to rebuild the infrastructure for cross-border trade, said Garlinghouse, promising that its future is bright.

A year later, the IPO was canceled. Instead, Ripple’s future hinges on the judge’s decision in a civil suit filed in December by the Securities and Exchange Commission.

Regardless of the outcome, this case is expected to set a major precedent for how US regulators create rules and laws covering cryptocurrencies. It also highlights a broader truth about most digital currencies: Beyond the two largest, bitcoin and ether, most of the hundreds of others have struggled to find utilitarian value beyond speculation.

At the heart of the SEC’s suit is the debate about XRP, a bitcoin-like digital asset created by the founder of Ripple that will grow to become the world’s third-largest cryptocurrency. It is designed to be part of a network that will help banks cut costs in cross-border transfers. The related software, however, never gained traction, the SEC accused, leaving XRP with no apparent purpose, other than to funnel sales to Ripple.

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New Zealand rugby is approaching the Silver Lake minority investment of ‘US $ 2 billion’, the report said | Instant News


The deal for a 15% stake will reportedly value the governing body of the national rugby union at US $ 2 billion.

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  • NZR has been in talks with Silver Lake since last May
  • US investment firms are looking to rival CVC in the global rugby scene

New Zealand Rugby (NZR) is in follow-up discussions with US investment firm Silver Lake over the sale of a 15 percent stake that would value the national regulatory agency around US $ 2 billion, according to Sky News.

Reports that the NZR has held talks with Silver Lake first appeared last May, and a deal may be nearing completion, with British media companies adding that announcements about minority ownership acquisitions could come as soon as this month.

The report also states that Silver Lake has been competing with a number of private equity investors for a stake in NZR, and with it the All Blacks’ iconic team, such as Bruin Sports Capital, while CVC Capital Partners were also initially linked.

If a sale is agreed upon, the NZR will become the newest, and arguably most prominent, rugby union organization to attract private equity investment. CVC has taken part in the English Premier League Rugby and Pro14 provincial competitions, and remains in protracted talks with the Six Nations National team tournament on a reported 14.5 percent share. Besides, the firm said eyeing the lions of England and Ireland Last July.

In September 2020, reports emerged that Silver Lake, as well as CVC, were also targeting part of the new trans-Tasman rugby competition. At the time, the Australian newspaper stated that Silver Lake wanted to “thwart the grand CVC plan” to dominate world rugby.

The NZR, meanwhile, has acknowledged that, especially given the current economic climate caused by Covid-19, the All Blacks cannot fully take responsibility for funding domestic play, promoting investment talks. The NZR has prepared for a revenue reduction of NZ $ 120 million (US $ 86.1 million) last year and in June put a quarter of its administrative staff out of work to help cut costs.

Last May, the New Zealand Herald, citing a high ranking NZR source, said making private investment would involve the establishment of a subsidiary. This will include commercial assets, such as Super Rugby competitions or the Rugby Championship, to help take advantage of new revenue and investment streams.

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This SPBU Entrepreneur Prioritizes Food Over Fuel and Becomes Rich | Instant News


Two brothers who became billionaires in Britain with a focus on food rather than fuel at gas stations are looking for ways to launch the model globally in hopes of finding wider success.

As teenagers, Mohsin and Zuber Issa worked at a gas station in northern England owned by their parents, who emigrated from India in the 1960s. They used that experience to expand from purchasing one abandoned site nearby to one of the largest independent gas station operators in the world, with more than 6,000 locations across Europe, and more recently in Australia and the US.

They took profits because the big oil companies sold underperforming gas stations, taking locations in the UK and later in Europe. Their guidebook: multiplying higher-margin foods, selling fresh and packaged groceries, and franchising some of the world’s most famous fast food brands.

Now the Issa brothers are looking to repeat the trick at US EG Group – a business they co-own with private equity firm TDR Capital – achieving its sixth American acquisition in just two years in November.

But as the brothers scoured the stock market list for the business, they faced scrutiny over corporate governance and debt that was building up to fund its rapid expansion. And some retail analysts say the EG Group faces a tougher test in the United States.

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