Savings provider Ascensus prepares for mid-2021 IPO

Savings provider Ascensus prepares for mid-2021 IPO

The private equity owners of Ascensus have hired investment banks for an initial public offering (IPO) of the savings services provider that could value it at around $3 billion including debt, three people familiar with the matter said on Friday. Majority-owned by...
Goldman Sachs to buy GM credit card business for $2.5bn

Goldman Sachs to buy GM credit card business for $2.5bn

Goldman Sachs is buying General Motors’ credit card business, according to people familiar with the matter, marking the bank’s second big-name credit-card partnership and another step towards balancing its Wall Street operations with heft in consumer finance. Goldman...
GIC, TPG to Invest $1 Billion in Mukesh Ambani’s Retail Business

GIC, TPG to Invest $1 Billion in Mukesh Ambani’s Retail Business

Singapore’s GIC Pte. and private-equity firm TPG will invest a combined $1 billion in Indian billionaire Mukesh Ambani’s retail unit, taking total inflows into the business to about $4.4 billion. GIC will spend 55.1 billion rupees ($753 million) for a 1.22% stake in...
Coronavirus triggers borrowing spree by private equity managers

Coronavirus triggers borrowing spree by private equity managers

Private equity managers are turning to specialist borrowing facilities to ensure their highly leveraged strategies can survive the coronavirus pandemic, but there are growing concerns that the use of these complex financing deals poses new threats to investors. Demand...
Airbnb aims to raise roughly $3 billion in IPO

Airbnb aims to raise roughly $3 billion in IPO

Home rental company Airbnb Inc is aiming to raise around $3 billion in its upcoming initial public offering (IPO), people familiar with the matter said on Friday, taking advantage of the unexpectedly sharp recovery in its business after the COVID-19 pandemic roiled...