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  • Asia-Pacific Deal Activity Takes 1.4% YoY Hit During January-October 2022, Finds GlobalData

    Date 23/11/2022

    Geopolitics, rising inflation, Russia-Ukraine war, energy crisis and uncertain economic conditions continue to make a dent in deal-making sentiment across Asia-Pacific (APAC). As a result, deal activity (mergers & acquisitions [M&A], private equity, and venture financing deals) in the region witnessed a 1.4% year-on-year decline during January-October 2022, reveals GlobalData, a leading data and analytics company.

  • NZX Buys QuayStreet, Signs Agreement With Craigs

    Date 23/11/2022

    TRANSACTION HIGHLIGHTS:

    • NZX to acquire the management rights of QuayStreet (and its $1.6 billion in funds under management) from Craigs Investment Partners for upfront consideration of $31.25 million, to be satisfied by a $22.5 million cash payment and the issuance of $8.75 million of NZX shares (at a 10% premium to the five-day volume-weighted average price).
    • Potential earn-out consideration of up to $18.75 million, based on net FUM inflows from the Craigs network over a three-year period.
    • Product support and distribution agreement agreed as part of landmark deal.
    • Acquisition expected to have a full year equivalent operating earnings contribution of between $3.3 million to $3.6 million in FY23. This excludes transaction costs, internal and external integration costs (circa $4 million over two years), depreciation and amortisation, interest expenses and the impacts of acquisition accounting.
    • Builds on Smartshares’ continued organic growth and the prior ASB Superannuation Master Trust (SMT) acquisition to drive scale and operating leverage in funds management business.
    • Enables Craigs, a business with $26 billion of funds under management, to dedicate resource solely toward delivering exceptional service, and quality investment outcomes for clients.

  • SEC Charges Goldman Sachs Asset Management For Failing To Follow Its Policies And Procedures Involving ESG Investments

    Date 22/11/2022

    The Securities and Exchange Commission today charged Goldman Sachs Asset Management, L.P. (GSAM) for policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance (ESG) investments. To settle the charges, GSAM agreed to pay a $4 million penalty.

  • CalPERS Makes Structural And Leadership Changes To Private Markets Investment Programs

    Date 22/11/2022

    CalPERS today announced changes to the structure of two of its private markets investment programs, with management of the recently created Growth & Innovation program consolidated with that of the Private Equity asset class.

  • ISDA Launches Digital Regulatory Reporting 1.0 And Opens Access To Entire Market

    Date 22/11/2022

    ISDA has launched the full open-source version of the Digital Regulatory Reporting (DRR) model and opened access to ISDA members and non-members to support compliance with the US Commodity Futures Trading Commission’s (CFTC) amended swap data reporting rules.

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