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CHINA'S 10-YEAR BOND YIELD DROPS BELOW 1.9% AMID INCREASING EXPECTATIONS OF EASING. ...
미 의료보험회사 CEO 도심 살해 용의자는 26살의 수재
NYT는 만지오네가 사립고등학교 졸업식에서 졸업생 대표를 맡았으며 펜실베이니아 대에서 컴퓨터 과학과 수학 학사와 석사를 딴 수재라면서 의료보험회사들이 돈벌이에만 집중한다고 비난하는 선언문을 가지고 있다고 전했다.
펜실베이니아 대에서 주전공 컴퓨터 과학, 부전공 수학으로 2020년 학사 및 석사 학위를 취득했다. 만지오네는 2019년 스탠포드 대에서 입학 전 프로그램 상담 책임자로 일하기도 했다.
경찰은 만지오네가 전과가 전혀 없으며 하와이의 금지된 해변으로 넘어갔던 일이 유일하게 단속된 사례라고 밝혔다.
대대적인 범인 추적이 이뤄지는 동안 과도한 이익을 추구하는 의료보험회사들에 대한 대중들의 불만이 팽배한 미국 일부에서 그를 영웅시하는 분위기가 일었다.
https://mobile.newsis.com/view/NISX20241210_0002990337
NYT는 만지오네가 사립고등학교 졸업식에서 졸업생 대표를 맡았으며 펜실베이니아 대에서 컴퓨터 과학과 수학 학사와 석사를 딴 수재라면서 의료보험회사들이 돈벌이에만 집중한다고 비난하는 선언문을 가지고 있다고 전했다.
펜실베이니아 대에서 주전공 컴퓨터 과학, 부전공 수학으로 2020년 학사 및 석사 학위를 취득했다. 만지오네는 2019년 스탠포드 대에서 입학 전 프로그램 상담 책임자로 일하기도 했다.
경찰은 만지오네가 전과가 전혀 없으며 하와이의 금지된 해변으로 넘어갔던 일이 유일하게 단속된 사례라고 밝혔다.
대대적인 범인 추적이 이뤄지는 동안 과도한 이익을 추구하는 의료보험회사들에 대한 대중들의 불만이 팽배한 미국 일부에서 그를 영웅시하는 분위기가 일었다.
https://mobile.newsis.com/view/NISX20241210_0002990337
뉴시스
미 의료보험회사 CEO 도심 살해 용의자는 26살의 수재
사립고, 펜실베이니아 대 졸업 석사 의료보험사 비난하는 성명서 소지
엉뚱한데서 효능(?)이
계엄 여파에 두산밥캣 분할·합병 무산 위기
비상계엄 여파로 두산그룹의 두산밥캣 분할·합병이 무산될 처지다. 현 주가를 고려하면 두산에너빌리티 지분 6.85%를 보유한 국민연금기금이 분할·합병안에 기권 입장을 내는 게 불가피하다.
https://n.news.naver.com/article/031/0000892031?cds=news_edit
계엄 여파에 두산밥캣 분할·합병 무산 위기
비상계엄 여파로 두산그룹의 두산밥캣 분할·합병이 무산될 처지다. 현 주가를 고려하면 두산에너빌리티 지분 6.85%를 보유한 국민연금기금이 분할·합병안에 기권 입장을 내는 게 불가피하다.
https://n.news.naver.com/article/031/0000892031?cds=news_edit
Naver
계엄 여파에 두산밥캣 분할·합병 무산 위기
비상계엄 여파로 두산그룹의 두산밥캣 분할·합병이 무산될 처지다. 현 주가를 고려하면 두산에너빌리티 지분 6.85%를 보유한 국민연금기금이 분할·합병안에 기권 입장을 내는 게 불가피하다. 국민연금기금 수탁자 책임 전문
👍4
China's exports and imports miss expectations in November as economic worries deepen
https://www.cnbc.com/2024/12/10/chinas-exports-imports-trade-november.html?__source=androidappshare
https://www.cnbc.com/2024/12/10/chinas-exports-imports-trade-november.html?__source=androidappshare
CNBC
China's November imports post surprise drop; sharpest decline in 14 months
Export has been a rare bright spot as the world's second largest economy contends with lackluster domestic consumption and a prolonged housing downturn.
VC Deals
Nscale, a London-based AI infrastructure startup, raised a $155 million Series A led by Sandton Capital Partners.
Citryll, a Dutch biotech startup, secured an €85 million Series B led by Johnson & Johnson Innovation, Forbion and Novartis Venture Fund.
Bay Area-based Cala Health, a biotech startup developing wearable medical devices, raised a $50 million round led by Vertex Growth Fund and Nexus Neurotech Ventures.
WaveForms AI, which specializes in AI-powered audio and voice products, raised a $40 million seed round led by Andreessen Horowitz.
Pixxel, a space tech company based in the US and India, secured a $24 million Series B extension from M&G Catalyst and Glade Brook Capital Partners.
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December 10, 2024
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💥 The GP-led secondary market is booming. The exit value for these transactions is on track to reach an all-time high in 2024, expected to land between $50 billion and $60 billion, according to PitchBook's latest analyst note.
The momentum is driven by the growing popularity of continuation funds, as depressed valuation multiples hamstring activity for traditional exit routes. GPs are unwilling to bring their crown jewels to market, preferring instead to roll trophy assets into continuation vehicles so they can monetize these investments at a higher price later.
Our analysts expect GP-led secondaries will continue to gain steam, growing into a $70 billion to $105 billion market by 2028. Get the analyst note.
Also...
🧬 Blackstone is back on the fundraising trail for its latest life sciences fund, targeting $5 billion. PE firms have become increasingly involved in financing drug development in recent years, as life sciences companies contend with depressed valuations and high interest rates. Full story.
🥡 Apollo-backed food packaging company Novolex agreed to acquire Pactiv Evergreen in a take-private deal valued at $6.7 billion including debt, as demand for eco-friendly packaging rises. Read more.
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Cybersecurity VC funding returns to growth
Generative AI is lending a boost to information security VC investment, according to our latest Emerging Tech Research.
Infosec VC funding is on pace to grow year-over-year, with startups collecting $8.8 billion through Q3.
The Morningstar PitchBook Cybersecurity Unicorn Index has outperformed indexes of both global unicorns and AI unicorns since 2021.
A loaded IPO pipeline should benefit from Rubrik: The company went public in April, and its stock is up more than 50% over the past month.
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Three deal sourcing strategies for 2025
There's no doubt that deal sourcing in 2025 will be competitive. With a 76% increase in the number of operating funds since 2015, stricter due diligence criteria, and more pressure to deploy funds, finding and winning quality deals requires a new playbook.
Affinity's latest guide examines what VC firms can do to adapt and protect their competitive edge. Find out why dealmakers are shifting focus to outbound sourcing, how firms like Kleiner Perkins and Intel Capital are using AI effectively, and the data platform requirements for identifying relevant deals earlier.
Featuring insights from industry leaders, this guide provides proven strategies for balancing technology with the fundamentals of relationship-driven sourcing.
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Infrastructure fundraising slows, but carries momentum
Just over 60 real assets funds have closed on nearly $71 billion combined through Q3 2024—putting the asset class on pace to fall short of year-end fundraising totals from 2023, according to our latest report on the strategy.
Nscale, a London-based AI infrastructure startup, raised a $155 million Series A led by Sandton Capital Partners.
Citryll, a Dutch biotech startup, secured an €85 million Series B led by Johnson & Johnson Innovation, Forbion and Novartis Venture Fund.
Bay Area-based Cala Health, a biotech startup developing wearable medical devices, raised a $50 million round led by Vertex Growth Fund and Nexus Neurotech Ventures.
WaveForms AI, which specializes in AI-powered audio and voice products, raised a $40 million seed round led by Andreessen Horowitz.
Pixxel, a space tech company based in the US and India, secured a $24 million Series B extension from M&G Catalyst and Glade Brook Capital Partners.
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The Daily Pitch: VC, PE and M&A
December 10, 2024
The Daily Pitch is powered by PitchBook’s industry-defining research and best-in-class data
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Today's Top Stories
💥 The GP-led secondary market is booming. The exit value for these transactions is on track to reach an all-time high in 2024, expected to land between $50 billion and $60 billion, according to PitchBook's latest analyst note.
The momentum is driven by the growing popularity of continuation funds, as depressed valuation multiples hamstring activity for traditional exit routes. GPs are unwilling to bring their crown jewels to market, preferring instead to roll trophy assets into continuation vehicles so they can monetize these investments at a higher price later.
Our analysts expect GP-led secondaries will continue to gain steam, growing into a $70 billion to $105 billion market by 2028. Get the analyst note.
Also...
🧬 Blackstone is back on the fundraising trail for its latest life sciences fund, targeting $5 billion. PE firms have become increasingly involved in financing drug development in recent years, as life sciences companies contend with depressed valuations and high interest rates. Full story.
🥡 Apollo-backed food packaging company Novolex agreed to acquire Pactiv Evergreen in a take-private deal valued at $6.7 billion including debt, as demand for eco-friendly packaging rises. Read more.
Was this email forwarded to you? Subscribe here.
Cybersecurity VC funding returns to growth
Generative AI is lending a boost to information security VC investment, according to our latest Emerging Tech Research.
Infosec VC funding is on pace to grow year-over-year, with startups collecting $8.8 billion through Q3.
The Morningstar PitchBook Cybersecurity Unicorn Index has outperformed indexes of both global unicorns and AI unicorns since 2021.
A loaded IPO pipeline should benefit from Rubrik: The company went public in April, and its stock is up more than 50% over the past month.
read the preview
Share: Email LinkedIn Twitter Facebook
A message from Affinity
Three deal sourcing strategies for 2025
There's no doubt that deal sourcing in 2025 will be competitive. With a 76% increase in the number of operating funds since 2015, stricter due diligence criteria, and more pressure to deploy funds, finding and winning quality deals requires a new playbook.
Affinity's latest guide examines what VC firms can do to adapt and protect their competitive edge. Find out why dealmakers are shifting focus to outbound sourcing, how firms like Kleiner Perkins and Intel Capital are using AI effectively, and the data platform requirements for identifying relevant deals earlier.
Featuring insights from industry leaders, this guide provides proven strategies for balancing technology with the fundamentals of relationship-driven sourcing.
Access guide
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Infrastructure fundraising slows, but carries momentum
Just over 60 real assets funds have closed on nearly $71 billion combined through Q3 2024—putting the asset class on pace to fall short of year-end fundraising totals from 2023, according to our latest report on the strategy.
Funds are taking longer to close across the board, with even the fastest batch of real assets vehicles taking nearly 21 months to do so. Infrastructure fundraising has been subdued as the asset class awaits the closing of several mega-funds targeting over $7 billion in capital.
The outlook on real assets fundraising overall remains positive, with investors driven by decarbonization, digitalization and deglobalization. Still, fundraising in natural resources is moving at a slower pace, amid global tensions around supply and commodity pricing volatility.
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GP-to-GP dealmaking hits annual high
A key component of this year's M&A market has been the pronounced uptick in GP-to-GP transactions. GP deal activity reached 124 majority or minority deals through Q3, a record annual high with three months to go.
In PitchBook's Q3 2024 US Public PE and GP Deal Roundup, our analysts explore this trend, exemplified by Blue Owl, which completed its fourth acquisition of a GP this year, effectively adding $44 billion to its AUM. On the deployment front, private equity activity accelerated by 37.7% from Q2 across the six largest publicly traded PE managers.
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Global M&A activity lulls but quality targets emerge in unexpected places
A transforming regulatory and macroeconomic landscape continued to weigh on global M&A activity as it declined for a third straight quarter this year, generating $2.2 trillion across 24,784 deals YTD. Despite the global M&A slowdown persisting into 2024, from a historical perspective, activity is normalizing.
Read Litera's latest report on global M&A trends to gather in-depth insights on how a confluence of macro variables dragged M&A activity down across several key indicators, but industry bright spots can be seen in TMT. This edition includes:
Assessment of M&A trends leveraging indicators, like check sizes and EV/EBITDA multiples, and industry and geographical-specific data
Analysis on trends in strategic and PE acquisitions under a confluence of pressures.
Insights on where investors are finding their next acquisition targets.
Read it now
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VC Deals
Nscale, a London-based AI infrastructure startup, raised a $155 million Series A led by Sandton Capital Partners.
Citryll, a Dutch biotech startup, secured an €85 million Series B led by Johnson & Johnson Innovation, Forbion and Novartis Venture Fund.
Bay Area-based Cala Health, a biotech startup developing wearable medical devices, raised a $50 million round led by Vertex Growth Fund and Nexus Neurotech Ventures.
WaveForms AI, which specializes in AI-powered audio and voice products, raised a $40 million seed round led by Andreessen Horowitz.
Pixxel, a space tech company based in the US and India, secured a $24 million Series B extension from M&G Catalyst and Glade Brook Capital Partners.
PitchBook webinar: Diversifying retirement allocations into private evergreen funds
New investment flows of $7 trillion are expected to come from private wealth channels over the next decade, much of which is anticipated to end up in evergreen vehicles. Where are your opportunities? Join experts from PitchBook and RIA Freestone Capital to learn more about investing in evergreen structures.
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PE Deals
Apollo Global Management will invest in a portfolio of infrastructure credit loans owned by Banco Santander valued around $370 million, Bloomberg reported.
The outlook on real assets fundraising overall remains positive, with investors driven by decarbonization, digitalization and deglobalization. Still, fundraising in natural resources is moving at a slower pace, amid global tensions around supply and commodity pricing volatility.
read the report
Share: Email LinkedIn Twitter Facebook
GP-to-GP dealmaking hits annual high
A key component of this year's M&A market has been the pronounced uptick in GP-to-GP transactions. GP deal activity reached 124 majority or minority deals through Q3, a record annual high with three months to go.
In PitchBook's Q3 2024 US Public PE and GP Deal Roundup, our analysts explore this trend, exemplified by Blue Owl, which completed its fourth acquisition of a GP this year, effectively adding $44 billion to its AUM. On the deployment front, private equity activity accelerated by 37.7% from Q2 across the six largest publicly traded PE managers.
read it now
Share: Email LinkedIn Twitter Facebook
Since yesterday, the PitchBook Platform added:
641
Deals
2034
People
621
Companies
33
Funds
See what our data software can do
The Daily Benchmark:
2015 Vintage Global Secondaries Funds
Median IRR
16.48%
Top Quartile IRR
19.74%
1.10x
Median DPI
Select top performers
Siguler Guff Secondary Opportunities Fund
SG/NMERB Secondary Fund I
Ion Pacific Phillion I
*IRR: net of fees
14 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
A message from Litera
Global M&A activity lulls but quality targets emerge in unexpected places
A transforming regulatory and macroeconomic landscape continued to weigh on global M&A activity as it declined for a third straight quarter this year, generating $2.2 trillion across 24,784 deals YTD. Despite the global M&A slowdown persisting into 2024, from a historical perspective, activity is normalizing.
Read Litera's latest report on global M&A trends to gather in-depth insights on how a confluence of macro variables dragged M&A activity down across several key indicators, but industry bright spots can be seen in TMT. This edition includes:
Assessment of M&A trends leveraging indicators, like check sizes and EV/EBITDA multiples, and industry and geographical-specific data
Analysis on trends in strategic and PE acquisitions under a confluence of pressures.
Insights on where investors are finding their next acquisition targets.
Read it now
Share: Email LinkedIn Twitter Facebook
VC Deals
Nscale, a London-based AI infrastructure startup, raised a $155 million Series A led by Sandton Capital Partners.
Citryll, a Dutch biotech startup, secured an €85 million Series B led by Johnson & Johnson Innovation, Forbion and Novartis Venture Fund.
Bay Area-based Cala Health, a biotech startup developing wearable medical devices, raised a $50 million round led by Vertex Growth Fund and Nexus Neurotech Ventures.
WaveForms AI, which specializes in AI-powered audio and voice products, raised a $40 million seed round led by Andreessen Horowitz.
Pixxel, a space tech company based in the US and India, secured a $24 million Series B extension from M&G Catalyst and Glade Brook Capital Partners.
PitchBook webinar: Diversifying retirement allocations into private evergreen funds
New investment flows of $7 trillion are expected to come from private wealth channels over the next decade, much of which is anticipated to end up in evergreen vehicles. Where are your opportunities? Join experts from PitchBook and RIA Freestone Capital to learn more about investing in evergreen structures.
Register now to secure your spot.
Share: Email LinkedIn Twitter Facebook
PE Deals
Apollo Global Management will invest in a portfolio of infrastructure credit loans owned by Banco Santander valued around $370 million, Bloomberg reported.
Aerospace components manufacturer Forgital is in talks to be sold by The Carlyle Group to another PE firm, with Stonepeak, Cinven and JP Morgan making offers, Reuters reported.
The environmental services business of Canada-based GFL Environmental is in talks to be acquired by a PE firm, with Apollo Global Management, EQT and Stonepeak among potential buyers, Bloomberg reported.
Novo Holdings received regulatory approval to acquire Catalent, a New Jersey-based drug manufacturer.
The renewables project development business of Greencells Group has been acquired by Davidson Kempner and Nature Infrastructure Capital.
CVC Capital Partners made a voluntary tender offer for Compu Group Medical's outstanding shares at €22 per share, representing a 33.5% premium to Friday's closing price.
Keensight Capital acquired a majority stake in MetaCompliance, a human risk management software vendor based in Northern Ireland.
Inflexion has acquired a majority stake in Nodor Group, a UK-based darts equipment brand.
Kester Capital acquired Emas Pharma, a UK-based global clinical research organization specializing in therapeutic areas like oncology and rare diseases.
Exits
NYSE-listed Arthur J. Gallagher & Co is in talks to acquire PE-backed insurance broker AssuredPartners in a $12 billion deal, Bloomberg reported.
Karman Space & Defense, which develops space and missile technology, is in talks to pursue an IPO or be sold by owner Trive Capital in a deal that could value the company around $3 billion, Bloomberg reported.
Kioxia, a Japanese chipmaker backed by Bain Capital, raised $800 million through its IPO in Tokyo. The company is set to list on Dec. 18.
GIC hired JPMorgan Chase as advisor for a potential sale of its 50% stake in Greenko Energy, an India-based wind farm operator, Bloomberg reported.
Fundraising
Bay Area-based Centana Growth Partners raised $600 million for its third fund targeted at investments in the fintech sector.
Dimension, which focuses on life science and technology investments, launched its second VC fund targeted at $500 million in commitments.
Spanish investor Buenavista Equity Partners held a €100 million first close for BV Healthcare Growth Innvierte I.
Heartcore Capital closed Fund V on €170 million, to invest in early-stage European technology founders.
Chequers Capital closed Chequers Capital Fund XVIII on €1.2 billion.
Investors
Germany's Allianz has halted talks with Amundi's majority shareholder Crédit Agricole over a potential merger with the French investment group that would create a €2.8 trillion asset manager, Reuters reported.
Corporate M&A
Chocolate giant Hershey Co. is in talks to be acquired by Chicago-based Mondelez, which also makes snacks and candies, Bloomberg reported.
The environmental services business of Canada-based GFL Environmental is in talks to be acquired by a PE firm, with Apollo Global Management, EQT and Stonepeak among potential buyers, Bloomberg reported.
Novo Holdings received regulatory approval to acquire Catalent, a New Jersey-based drug manufacturer.
The renewables project development business of Greencells Group has been acquired by Davidson Kempner and Nature Infrastructure Capital.
CVC Capital Partners made a voluntary tender offer for Compu Group Medical's outstanding shares at €22 per share, representing a 33.5% premium to Friday's closing price.
Keensight Capital acquired a majority stake in MetaCompliance, a human risk management software vendor based in Northern Ireland.
Inflexion has acquired a majority stake in Nodor Group, a UK-based darts equipment brand.
Kester Capital acquired Emas Pharma, a UK-based global clinical research organization specializing in therapeutic areas like oncology and rare diseases.
Exits
NYSE-listed Arthur J. Gallagher & Co is in talks to acquire PE-backed insurance broker AssuredPartners in a $12 billion deal, Bloomberg reported.
Karman Space & Defense, which develops space and missile technology, is in talks to pursue an IPO or be sold by owner Trive Capital in a deal that could value the company around $3 billion, Bloomberg reported.
Kioxia, a Japanese chipmaker backed by Bain Capital, raised $800 million through its IPO in Tokyo. The company is set to list on Dec. 18.
GIC hired JPMorgan Chase as advisor for a potential sale of its 50% stake in Greenko Energy, an India-based wind farm operator, Bloomberg reported.
Fundraising
Bay Area-based Centana Growth Partners raised $600 million for its third fund targeted at investments in the fintech sector.
Dimension, which focuses on life science and technology investments, launched its second VC fund targeted at $500 million in commitments.
Spanish investor Buenavista Equity Partners held a €100 million first close for BV Healthcare Growth Innvierte I.
Heartcore Capital closed Fund V on €170 million, to invest in early-stage European technology founders.
Chequers Capital closed Chequers Capital Fund XVIII on €1.2 billion.
Investors
Germany's Allianz has halted talks with Amundi's majority shareholder Crédit Agricole over a potential merger with the French investment group that would create a €2.8 trillion asset manager, Reuters reported.
Corporate M&A
Chocolate giant Hershey Co. is in talks to be acquired by Chicago-based Mondelez, which also makes snacks and candies, Bloomberg reported.
Forwarded from [삼성 전종규] 차이나는 투자전략 (전종규)
정치국 부양, 이 정도가 좋다
제한된 강세
블룸버그에서 보도한 것처럼 정치국회의에서 강한 수사를 사용한 "중국 부양정책"에도 시장의 반등은 제한적이었습니다.
- 적절한 반응입니다. 9월말 정책전환에 의해 20% 지수 반등이 있었기에 이제는 규모와 실체를 확인해가는 시간입니다.
- 12월 경제공작회의와 3월 양회가 숫자를 확인해가는 이벤트이고 정부는 금리인하와 같은 정책 Easing을 꾸준히 보여줄 것으로 예상합니다.
t.iss.one/jkc123
제한된 강세
블룸버그에서 보도한 것처럼 정치국회의에서 강한 수사를 사용한 "중국 부양정책"에도 시장의 반등은 제한적이었습니다.
- 적절한 반응입니다. 9월말 정책전환에 의해 20% 지수 반등이 있었기에 이제는 규모와 실체를 확인해가는 시간입니다.
- 12월 경제공작회의와 3월 양회가 숫자를 확인해가는 이벤트이고 정부는 금리인하와 같은 정책 Easing을 꾸준히 보여줄 것으로 예상합니다.
t.iss.one/jkc123
Forwarded from Market News Feed
Forwarded from Market News Feed
RAPIDUS COLLABORATES WITH SYNOPSYS FOR CHIP DESIGN CYCLES ...
아르헨티나 규제 철폐
트럼프 취임에 맞추어 미국-아르헨 FTA 체결을 목표로 자본시장, 외환시장 규제 대폭 철폐 예정
밀레이는 매우 유명한 트럼프빠
https://news.bloombergtax.com/international-trade/milei-vows-to-ax-capital-controls-and-negotiate-trump-trade-deal
트럼프 취임에 맞추어 미국-아르헨 FTA 체결을 목표로 자본시장, 외환시장 규제 대폭 철폐 예정
밀레이는 매우 유명한 트럼프빠
https://news.bloombergtax.com/international-trade/milei-vows-to-ax-capital-controls-and-negotiate-trump-trade-deal
Bloombergtax
Milei Vows to Ax Capital Controls and Negotiate Trump Trade Deal
Argentine President Javier Milei promised to lift capital and currency controls next year while his administration intends to negotiate a free trade agreement with the US once Donald Trump takes office.
Forwarded from Market News Feed
중국이 손 놓은 것
- 관영언론으로 언플하고 시중에 물량 쏟아내며 걱정하는 척이라도 했던 채권버블(=너무 낮은 국채금리) 우려
-> 2% 무너진 이후로는 언급 하나도 없음
- 환율
-> USDCNY 7.0이 중요하다더니 요즘 언급 하나도 없음 2
- 관영언론으로 언플하고 시중에 물량 쏟아내며 걱정하는 척이라도 했던 채권버블(=너무 낮은 국채금리) 우려
-> 2% 무너진 이후로는 언급 하나도 없음
- 환율
-> USDCNY 7.0이 중요하다더니 요즘 언급 하나도 없음 2
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Forwarded from 한투증권 중국/신흥국 정정영
* 해당 뉴스 이후 순식간에 위안화 환율이 튀어올랐습니다. 코멘트 작성하는 동안 살짝 내려왔네요
>> 중국은 트럼프 1기때도 급격한 위안화 절하로 결국 환율조작국에 포함된 경험이 있습니다. 지금 가동시키고자하는 재정+통화 정책 패키지와도 어색한 조합입니다. 위안화 가치 방어가 더 중요한 상황으로 생각합니다
=========================
~ China's top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher trade tariffs in a second Donald Trump presidency in the United States
https://www.reuters.com/markets/currencies/chinese-authorities-are-considering-weaker-yuan-trump-trade-risks-loom-sources-2024-12-11/
>> 중국은 트럼프 1기때도 급격한 위안화 절하로 결국 환율조작국에 포함된 경험이 있습니다. 지금 가동시키고자하는 재정+통화 정책 패키지와도 어색한 조합입니다. 위안화 가치 방어가 더 중요한 상황으로 생각합니다
=========================
~ China's top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher trade tariffs in a second Donald Trump presidency in the United States
https://www.reuters.com/markets/currencies/chinese-authorities-are-considering-weaker-yuan-trump-trade-risks-loom-sources-2024-12-11/
VC Deals
Mumbai-based Mintifi, which offers a platform for supply chain financing, raised a $180 million Series E led by Teachers' Venture Growth, an arm of the Ontario Teachers' Pension Plan.
Speak, a startup developing a language learning platform, secured a $78 million Series C led by Accel that values the company at $1 billion.
Cybersecurity startup Astrix Security raised a $45 million Series B led by Menlo Ventures.
Aqemia, a Paris-based drug discovery startup, raised $38 million in a round led by Cathay Innovation.
Tel Aviv-based Riverside, which offers a podcast recording platform, secured a $30 million Series C led by Zeev Ventures.
WeaveGrid, which specializes in integrating electric vehicle adoption, raised a $28 million round led by Woven Capital.
Next Sense, an Amsterdam-based smart-building specialist, completed an €1.5 million Series A led by ABP and ETF Partners.
PE Deals
Walgreens is in talks with Sycamore Partners for a take-private deal that could value the drugstore chain at nearly $8 billion, The Wall Street Journal reported.
Topcon is considering takeover bids from KKR, EQT and Japan Investment, with a second bidding round expected by the end of December, Bloomberg reported.
Bakery chain Gail's, based in the UK, is in talks to be acquired by McWin Capital Partners, Bloomberg reported.
Ardian acquired Atout-Box, a French self-storage provider.
Star Capital acquired Subsea Technology & Rentals, a Texas-based subsea sensor equipment provider.
Invalda plans to buy shares in Romania's Pehart Group, a paper products producer.
Lee Equity agreed to acquire Cooper Parry from Waterland Private Equity.
Exits
TeamViewer acquired New York-based DEX solutions provider 1E from The Carlyle Group for $720 million.
Portugal-based bank Novo Banco has begun exploring opportunities for an IPO.
ServiceTitan, a California-based software startup, is seeking a $5.95 billion valuation in its IPO.
WPAI, a startup that develops AI integration solutions for WordPress, has been acquired by VC-backed Automattic.
Fundraising
Apollo Global Management is preparing to launch its 11th PE fund targeted at $25 billion, Bloomberg reported. The fund would be Apollo's largest PE fund to date.
Munich Private Equity Partners closed its fifth fund-of-funds program, MPEP V, with €440 million, surpassing its target of €300 million.
Laude Ventures, a new VC firm owned by Andy Konwinski, Pete Sonsini and Andrew Krioukov, raised $150 million for its first fund, Forbes reported.
Investors
Pacific Avenue Capital Partners opened a European office in Paris led by Xavier Lambert as managing director.
Corporate M&A
President Joe Biden will block the $14.1 billion acquisition of US Steel by Nippon Steel, Bloomberg reported.
A US judge blocked the $24.6 billion deal for Kroger to acquire Albertsons.
Mumbai-based Mintifi, which offers a platform for supply chain financing, raised a $180 million Series E led by Teachers' Venture Growth, an arm of the Ontario Teachers' Pension Plan.
Speak, a startup developing a language learning platform, secured a $78 million Series C led by Accel that values the company at $1 billion.
Cybersecurity startup Astrix Security raised a $45 million Series B led by Menlo Ventures.
Aqemia, a Paris-based drug discovery startup, raised $38 million in a round led by Cathay Innovation.
Tel Aviv-based Riverside, which offers a podcast recording platform, secured a $30 million Series C led by Zeev Ventures.
WeaveGrid, which specializes in integrating electric vehicle adoption, raised a $28 million round led by Woven Capital.
Next Sense, an Amsterdam-based smart-building specialist, completed an €1.5 million Series A led by ABP and ETF Partners.
PE Deals
Walgreens is in talks with Sycamore Partners for a take-private deal that could value the drugstore chain at nearly $8 billion, The Wall Street Journal reported.
Topcon is considering takeover bids from KKR, EQT and Japan Investment, with a second bidding round expected by the end of December, Bloomberg reported.
Bakery chain Gail's, based in the UK, is in talks to be acquired by McWin Capital Partners, Bloomberg reported.
Ardian acquired Atout-Box, a French self-storage provider.
Star Capital acquired Subsea Technology & Rentals, a Texas-based subsea sensor equipment provider.
Invalda plans to buy shares in Romania's Pehart Group, a paper products producer.
Lee Equity agreed to acquire Cooper Parry from Waterland Private Equity.
Exits
TeamViewer acquired New York-based DEX solutions provider 1E from The Carlyle Group for $720 million.
Portugal-based bank Novo Banco has begun exploring opportunities for an IPO.
ServiceTitan, a California-based software startup, is seeking a $5.95 billion valuation in its IPO.
WPAI, a startup that develops AI integration solutions for WordPress, has been acquired by VC-backed Automattic.
Fundraising
Apollo Global Management is preparing to launch its 11th PE fund targeted at $25 billion, Bloomberg reported. The fund would be Apollo's largest PE fund to date.
Munich Private Equity Partners closed its fifth fund-of-funds program, MPEP V, with €440 million, surpassing its target of €300 million.
Laude Ventures, a new VC firm owned by Andy Konwinski, Pete Sonsini and Andrew Krioukov, raised $150 million for its first fund, Forbes reported.
Investors
Pacific Avenue Capital Partners opened a European office in Paris led by Xavier Lambert as managing director.
Corporate M&A
President Joe Biden will block the $14.1 billion acquisition of US Steel by Nippon Steel, Bloomberg reported.
A US judge blocked the $24.6 billion deal for Kroger to acquire Albertsons.
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