TA seeks up to $1 bln to double down on strong performers; Leach exits Aquiline; Apax responds to Sen. Warren's prison probe
First Read kicks off the day with news that the Dow plunges 500 points as the U.S. economy worries investors, amusement park operator Six Flags approaches Cedar Fair with a merger offer, and Microsoft is making an android phone.
Warburg puts RS Energy Group up for sale; Arbor gobbles up Bakery Cos; Where August Capital stands now
Senator Elizabeth Warren and Representatives Alexandria Ocasio-Cortez and Mark Pocan sent letters to five private equity firms asking for information about their stakes in prison services companies. The Democrats also want to know how much revenue the companies generated, the profit they produced, the total number of employees as well what other PE firms own stakes. Letters were sent to BlueMountain Capital Management, H.I.G. Capital, American Securities, Apax Partners, and Platinum Equity.
First Read begins the day with news that Warburg Pincus-backed Citizen Energy is buying Roan Resources for $1 billion, Salesforce is building an office tower in Sydney, pledging 1000 new jobs in next five years, and Airbnb is leaning toward a direct stock listing instead of a regular IPO.
Apollo keeps $44 bln dry powder on hand for mkt dislocation; Hoffman retires from Probitas; FTV seeks $1 bln for sixth fund
To start your morning, First Read has news that WeWork is withdrawing its S-1 filing, Verizon is buying virtual reality video start-up Jaunt XR and "Stranger Things" clinches a season 4 on Netflix.
First Read kicks off the week with news that Fiat Chrysler is paying $40 million over claims it misled investors, Wells Fargo gets a new CEO, and Forever 21 files for bankruptcy.
FlowStone shops private equity for everyone, Howard Marks rails against wealth taxes
First Read closes out the week with news that Exxon agrees to sell Norway assets to Eni's Var Energi for $4.5 bln, Peloton stock slides after opening below IPO price in market debut and Chicago teachers authorize strike.